Regulatory Alerts2012-01-01
Added · Updated
Law No. 13 of 2012 Issuing the Law of the Central Bank of Qatar and Regulating Financial Institutions
Law No. 13 of 2012 establishes the Central Bank of Qatar as an independent financial and administrative entity directly subordinate to the Emir, with a capital of 50 billion Qatari Riyals owned by the State. The law defines the Bank's objectives, including maintaining currency value, ensuring financial stability, and regulating all financial services and institutions in Qatar. It outlines the governance structure, including the Governor and the Board of Directors, and grants the Bank authority to issue currency, conduct monetary policy, supervise financial institutions, and protect depositors. The law repeals previous decrees and requires all affected financial institutions to align their operations with the new regulations within six months.
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