Qatar Financial Markets Authority implements new procedures to facilitate the process of opening investor accounts

The Board of Directors of the Qatar Financial Markets Authority approved the payment of payments for the trading of securities on the Qatar Stock Exchange from the investor’s bank account in Qatar or in his country of residence, according to a new amendment to the rules of combating money laundering and terrorist financing.
This amendment falls within the framework of the Authority’s application of new procedures to facilitate the process of opening accounts for investors, as it amended Paragraph (C) of Article (4.1.2) of the Anti-Money Laundering and Terrorist Financing Rules, which required “the customer’s possession of a bank account in a regulated Qatari bank.” to the control and supervision of the Qatar Central Bank, through which all payments related to trading in securities are made from or to the customer”, to become, after the amendment, “the customer owns a bank account in the State of Qatar or a bank account in the country of residence subject to the supervision of a supervisory authority, through which all payments are made pertaining to the trading of securities from or to the client.
This amendment comes mainly in light of the Authority’s direction and its keenness to facilitate the procedures related to the transactions of investors from outside the country, as the financial payments for trading on the Qatar Stock Exchange are made through bank accounts for investors, which contributes to enhancing the attractiveness of the safe investment environment in the country, and stimulates the attraction of local investments. and foreign to the financial sector in Qatar.
The Qatar Financial Markets Authority, in coordination with the financial sector regulators and in partnership with the private sector, works to facilitate and facilitate all transactions procedures for the entities subject to its supervision, in order to achieve compliance with international standards regulating financial markets.
In this context, the Authority periodically and whenever necessary reviews the legislation it issues, in order to ensure the continued modernization and development of the capital market in the country and its survival in the circle of competition compared to other markets at the regional and global levels, and to maintain an effective legislative system that attracts investment within international standards and privacy. Qatari capital market.
The Qatar Financial Markets Authority is making unremitting efforts to develop legislation and an effective supervisory framework within international standards and the specificity of the Qatari financial sector, to ensure that its work framework and supervisory approach continuously prevent and reduce the risks of crimes related to financial markets.