Clifford Chance
Qatar publishes revised Central Bank Law
6 February 2013
A revised Central Bank Law has recently been enacted in Qatar. Updating Law No. 33 of 2006, the law sets out the role and functions of the Qatar Central Bank in its licensing and supervision of banks and other financial institutions operating in Qatar. It also covers the relationship of the Qatar Central Bank with the Qatar Financial Centre (QFC) and the Qatar Stock Exchange.
In this client briefing, Clifford Chance discusses the objectives of the Qatar Central Bank and the powers under the Central Bank Law which will help those objectives be realised. Particular focus is placed on the licensing position of firms undertaking financial services business and activity in or from Qatar, the QFC and on a cross-border basis.
Clifford Chance also discuss provisions of the law covering financial institution mergers and acquisitions (M&A) – an area of law which is increasingly in the spotlight. This client briefing will be of interest to banks and financial institutions operating in Qatar and the QFC.
