INSIGHTS
Qatar Central Bank licences required for websites comparing insurance policies
August 30, 2023
The Qatar Central Bank (“QCB”) recently announced that companies seeking to provide comparisons of insurance policies through websites should submit applications to receive the required licence from the bank.
The QCB added that the instructions concerning the licensing of websites comparing policies and prices of insurance are intended to regularise the operation of such service providers. Additional information may be accessed through QCB’s official website. This requirement aligns with the QCB’s commitment to regularising and upgrading the financial sector in Qatar.
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The Qatar Central Bank (“QCB”) announced amendments to the real estate financing (mortgage) regulations, including setting out the maximum loan-to-value (“LTV”) ratios and tenures for mortgages within the State of Qatar, which will be applied to Qatari banks and subsidiaries within the country. Branches and subsidiaries of Qatari banks outside the State of Qatar will continue to comply with the host country’s regulatory authorities as long as the collaterals and financed properties are outside of Qatar.