Regulatory Alerts2010-05-03
Added · Updated
Regulations on the Establishment and Operation of Financial Leasing Companies in the State of Qatar
The Qatar Financial Services Regulatory Authority issues Regulations No. (11) of 2009 to govern the establishment and operation of financial leasing companies within the Qatar Financial Centre. These rules mandate minimum paid-up capital of QAR 5,000,000 for pure leasing entities or QAR 10,000,000 for those undertaking additional permitted activities. The Authority requires licensing, shareholder approval, and strict corporate governance structures, including independent directors and specific risk and compliance officers. Existing companies must comply with these provisions within six months of the regulations' publication in the Official Gazette.
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