This is a very special edition, because it features artwork created by the talented and inspirational students at Mawaheb Art Studio, a creative space for People of Determination. Collaborating with Mawaheb is a reflection of our commitment to greater community engagement and the artwork is a celebration of the students and the art studio. You can learn more about both in this edition of Law Update.

The Qatar Central Bank (“QCB”) has issued the much-awaited Buy Now Pay Later (“BNPL”) Regulations (“BNPL Regulations”) following the launch of its FinTech Strategy earlier this year. While BNPL products and services are currently being offered in Qatar, albeit on a limited scale, through licensed financial institutions in Qatar, the BNPL Regulations seek to regulate the provision of BNPL products and services via separately licensed BNPL service...

The Minister of Commerce and Industry issued Decision No. 56 of 2023 adopting the GCC Trademarks Implementing Regulations, in accordance with Law No. 7 of 2014 ratifying the GCC Trademarks Law.

The warm Indian Ocean beaches, historical and cultural heritage sites of Zanzibar are now pulling big crowds of holidaymakers from the Middle East.

On behalf of the Qatar Financial Centre, we would like to extend a complimentary invitation to you and your colleagues to attend the IFN Qatar Dialogues that will take place at Hamad Bin Khalifa University on Wednesday 31st May 2023.

The event in the Kingdom of Saudi Arabia on 29th May 2023 will focus on infrastructure and project finance, while the Qatar Dialogues in partnership with Qatar Financial Centre will be held on 31st May 2023 and will focus on diversifying the economy and achieving national objectives through Islamic banking.

As one of the wealthiest nations in the world, Qatar’s economic influence cannot be understated. Its affinity with Shariah as well as hunt for economic diversification has guided the State’s nurturing of its Islamic banking and finance industry, which continues to post steady growth year-on-year.

Following the establishment of the Court of Investment and Trade effective May 10th 2022, Qatar’s Cabinet issued decision no. 6 / 2022 specifying the fees for lawsuits, requests and guarantees at the Investment and Trade Court. The decision was published in Official Gazette no. 7 of 2022 dated July 3rd 2022, and became effective on July 4th 2022.

As part of Qatar’s ongoing commitment to reduce the risk of money laundering and terrorism financing within Qatar, Law No.4 of 2022 concerning the regulation of the use of cash in transactions (the “Cash Transactions Law”) was published in the Official Gazette No. 7 of 2022 dated 3 July 2022. The Cash Transactions Law is effective from the date of its publication.

Following our previous alerts on the issuance of the Unified Economic Register Law No. (1) of 2020 and its Executive Regulations No. (12) of 2020, the Minister of Commerce and Industry has decided to establish the Unified Economic Register Unit under the Registration and Licencing Department. The decision was issued on 12 June 2022 and has been published in the Official Gazette on 19 June 2022 (the “Decision”).