Qatar Archives - Page 30 of 39 - LexisNexis Middle East

Qatar: Financial Markets Authority Issues New Offering & Listing of Securities on the Financial Markets Rulebook

19/03/202119/03/2021
by Benjamin Filaferro

The new offering and listing rules in Qatar will come into force on 1 April. They introduce various controls for listing financial securities in public offerings. Under the rules, the issuing authorities, be they Qatari or foreign ones, as well as enterprises in the Qatari Financial Centre or Free Zones can list financial securities in public offerings provided they meet a number of conditions including submitting a request to get the approval of the Authority, prepare an announcement on the listing which includes full and sufficient details which matter to investors using the designated template and pay the relevant fees.

News developments

Qatar: New Contracts for Domestic Workers on the Way

12/03/202112/03/2021
by Benjamin Filaferro

Following the issuing of Qatar Law No. 15/2017 by the Administrative Development, Labour and Social Affairs Ministry, an official at the International Labour Organisation Project Office in Qatar has announced new contracts will soon be issued to domestic workers coming to Qatar. They will specify their working hours, tasks and leave and overtime entitlements. Domestic workers will not be able to work more than two hours overtime and there are provisions on how compensation for overtime will be calculated. It will be calculated on the same basis as overtime for workers covered by the Labour Law. Domestic workers will also be entitled to the same sick leave benefit as any other workers in Qatar. Both domestic workers and employers will be able to terminate the contract providing they give reasonable notice. The new contract also specifies domestic workers should not be charged for their recruitment. These costs should be paid by the employer. The new contract aims to equalise the rights between domestic workers and workers covered by the Qatari Labour Law. It will reduce miscommunication in employment relationships and improve transparency in tasks between employers and domestic workers.

Weekly Spotlight

Qatar: Artificial Intelligence Committee to be Established

05/03/202105/03/2021
by Benjamin Filaferro

Qatar’s Cabinet has approved a draft Cabinet Decision to establish an Artificial Intelligence Committee. Under the Decision, the Committee will report to the Transport and Telecommunication Ministry. It will have three members from the Ministry and a representative from the Qatar Computing Sciences College, a representative from the Interior Ministry, Education and Higher Education Ministry, the Commerce and Industry Ministry, Qatar Science & Technology Park, Hamad Bin Khalifa University, Qatar National Research Fund and Qatar Development Bank. It will be responsible for setting workflows to follow up on and implement Qatar’s Artificial Intelligence Strategy and supervise the programmes and initiatives related to this area as well as give recommendations on the planning and programmes for training human resources in this area. In addition, it will support start-ups in this area as well as scientific research.

News developments

Qatar: New Offering & Listing of Securities on the Financial Markets Rulebook

26/02/202126/02/2021
by Benjamin Filaferro

Qatar’s Financial Markets Authority has announced it has issued a new Offering & Listing of Securities on the Financial Markets Rulebook. It will come into force on 1 April 2021. It has been issued as part of the Authority’s regulatory and supervisory role over the country’s capital market. It is aimed at expanding the offering and listing procedures and requirements to more companies. It is also aimed at increasing the transparency and volumes of disclosures, particularly in the main market. Finally, it is aimed at increasing the number of listed companies, share turnover and liquidity and attract more investments into Qatar’s capital market.

News developments

Qatar: The Qatari cabinet has approved a number of decisions including a template draft memorandum of understanding on cooperation in the field of combating narcotic drugs and psychotropic substances

19/02/202119/02/2021
by Benjamin Filaferro

The Qatari cabinet has approved a number of decisions including a template draft memorandum of understanding on cooperation in the field of combating narcotic drugs and psychotropic substances and their precursors in the field of civil aviation between the government of Qatar and the government of any other country. The cabinet has also approved a draft memorandum of understanding for cooperation in the field of exchanging financial investigations related to combating money laundering and terrorist financing between the Financial Information Unit in the State of Qatar, the Anti-Money Laundering Council, and the Financial Intelligence Unit in the Republic of the Philippines.

News developments

Qatar: Real Estate Sector Development Committee Term Extended

12/02/202112/02/2021
by Benjamin Filaferro

Qatar’s Prime Minister has approved various conditions, including a decision extending the term of the real estate sector development committee for another six months. The Committee is responsible for proposing a strategy to develop the sector in the State. They are also responsible for suggesting policies and plans to implement the strategy.

News developments

Qatar: Transport and Communications Ministry has announced it has published the guidelines to Qatar Law No. 13/2016 (the Personal Data Privacy Protection Law)

05/02/202105/02/2021
by Benjamin Filaferro

The Compliance and Data Protection Department of Qatar’s Transport and Communications Ministry has announced it has published the guidelines to Qatar Law No. 13/2016 (the Personal Data Privacy Protection Law). They provide a set of guidelines, controls, assistance tools, checklists and templates for regulated entities covered by the Law to support compliance with it. They also include guidance for individuals to be more aware of their rights and responsibilities under the Law. Regulated entities should refer to them and adapt according to their individual role either as data processor or data controller, without prejudice to the Law to avoid liability. They were issued on Data Privacy Day. They are aimed at helping individuals, regulated entities and stakeholders understand their respective responsibilities, rights and practices under the Law. They have also been introduced as part of efforts to implement the Law.

News developments

Qatar: Cabinet Reviews Property Ownership for Non-Qataris Report

29/01/202129/01/2021
by Benjamin Filaferro

Qatar’s Cabinet has reviewed the 2020 property ownership for non-Qataris report. The report was submitted to them by the appropriate committee. Among other things, they are responsible for proposing areas non-Qataris can own and use real estate. They are also responsible for proposing conditions and regulations for non-Qataris’ ownership and use of real estate. They report to the Justice Ministry.

News developments

Qatar: Government Agencies and Bodies Have to Announce Tenders on Official Website

22/01/202122/01/2021
by Benjamin Filaferro

Qatar’s Prime Minister and Interior Minister has announced all Government agencies and bodies have to announce all tenders and auctions on the unified government tenders website. The aim is to provide equal opportunities and provide information to investors on the needs of Government agencies.

News developments

Qatar: Venture Market to Launch This Year

15/01/202115/01/2021
by Benjamin Filaferro

The Listing Director of the Qatar Stock Exchange has announced the Venture Market will launch this year. It will enable SMEs to list which will enable them to diversify their incomes. Two companies have already been approved to list on it. Companies on the Venture Market will trade on the same UTP infrastructure and benefit from the same regulatory protections as those on the Main Market. It is expected Venture Market companies will move to the Main Market as they grow and develop.