Objectives & Functions

3. Exercise the privilege of the issuance, and circulation of domestic currency, and adopt and take necessary security measures to prevent counterfeiting.

4. Supervise and control the activities of financial institutions, i.e., banks, exchange houses, investment companies, financial companies, and representative offices.

5. Conduct domestic public debt operations.

6. Contribute to policies of financial stability.

7. Act as a bank for all banks operating in the state of Qatar.

8. Manage QCB’s reserves in foreign assets.

9. Organize and manage bank clearing operations and payments system.

10. Conduct studies and researches related to domestic and world economic developments.

11. Extends advices and consultations to the Government related to financial and economic issues.

12. Promote the banking sector in Qatar.

13. Promote efficiency and development of the financial markets.

14. Any other function that falls within its jurisdiction.

Department of Economic Policies

Objectives

Conduct research and studies in the fields of exchange rate, monetary, credit and banking policies, price levels and inflation, and prepare the Qatari Balance of Payments (BOP) in fulfillment of QCB’s objectives.

Functions

1. Conduct research and studies related to the formulation, conducting, and evaluation of monetary policy, banking and credit policy, and other economic policies of the QCB.

2. Conduct and publish research, studies, and reports related to domestic and international economic developments.

3. Collect and compile data for the BOP, and prepare and follow up the developments in the BOP for the State of Qatar.

4. Study and follow up developments in economic aggregates of Qatar’s National Accounts and price levels.

5. Compile and publish monetary and banking statistics, prepare and publish reports on domestic banking, monetary and overall condition of the economy.

6. Participate in QCB contributions in regional and international activities.

7. Coordinate with the Ministries and other Government institutions regarding issues of relevance to economic policies.

8. Participate in QCB’s training and other activities that are related to the nature of work at the Department.

9. Communicate with the press and announce QCB monetary and other economic policies.

10. Manage QCB's electronic worldwide Website.

11. Manage and oversee QCB library.

12. Educate the general public and spread awareness about economic policies and QCB activities.

13. Any other function that falls within, related to, or implied by the nature of the work at the Department.

Department of Banking Supervision

Objectives

Supervise the activities of Financial Institutions {FIs hereafter} (i.e., banks, investment and finance companies, exchange houses, and representative offices) in order to avoid/minimize banking and financial risks.

Functions

1. Inspect FIs and verify their compliance with the provisions and terms of the Law and Regulations issued by QCB.

2. Obtain necessary information and data from FIs to verify compliance with QCB’s instructions.

3. Propose the issuance of necessary instructions, regulations and directives to organize the activities of FIs.

4. Study violations committed by FIs and propose the appropriate fines in this regard.

5. Propose issuing and renewing FIs’ licenses.

6. Supervise any FI liquidation.

7. Study the banking risks through on-site and off-site inspections.

8. Any other function that falls within, related to, or implied by the nature of work at the department.

Department of Public Debt, Banking Affairs and Issuance

Objectives

Issue the domestic currency, manage public debt operations, and conduct bank clearing operations and settlements.

Functions

1. Issue and dominate the currency (notes and coins).

2. Secure the validity of banknotes and dispose off the non-negotiable currency.

3. Assess market needs for currency, and assess the cost and specify the methods of printing money.

4. Investigate currency counterfeiting in Qatar and take necessary measures to prevent it.

5. Discount commercial papers for banks.

6. Determine the amount of required reserves for banks.

7. Manage and organize clearing operations and settlements.

8. Manage the issuance of Government securities on behalf of the Ministry of Finance.

9. Maintain Qatari Riyal-denominated deposits of domestic banks and international institutions.

10. Manage Settlement Fund for the purpose of conducting public debt transactions

11. Organize activities of Public Debt Agents.

12. Approve and pursue procedures of combating money laundering.

13. Any other function that falls within, related to, or implied by the nature of work at the department.

Investment Department

Objectives

Manage the investments of QCB financial reserves.

Functions

1. Propose investment policies and plans and pursue their implementation after being approved by QCB Investment Committee.

2. Invest in commercial paper and other investment tools in accordance with QCB investment policy.

3. Organize QCB relations with banks and external correspondents involved in investment affairs.

4. Provide senior management and Investment Committee at QCB with the latest information and data on global financial and economic developments.

5. Conduct sales and purchases of the Qatari Riyal.

6. Conduct Repurchase Transactions (Repo) operations with licensed banks.

7. Conduct payment transactions and transfer operations.

8. Any other function that falls within, related to, or implied by the nature of work at the department.

Department of Administrative and Financial Affairs

Objectives

Provide the administrative and financial services to QCB.

Functions

1. Provide recruitment services for QCB departments.

2. Prepare and handle payment of salaries and other financial benefits of QCB’s employees.

3. Settle payment orders against QCB’s obligations.

4. Handle activities related to employees’ annual evaluation reports and promotions.

5. Provide the necessary logistical supplies, devices, tools, and services for QCB.

6. Manage Public Relations and security functions of QCB.

7. Conduct local and foreign training programs based on the Department’s assessment of QCB employees’ training needs and in coordination with Department Directors.

8. Organize conferences, symposiums, workshops and seminars.

9. Prepare, follow up and implement QCB’s Annual Budget.

10. Manage QCB’s accounts and issue monthly and annual balance sheets.

11. Any other function that falls within, related to, or implied by the nature of work at the department.

Banking System Department

Objectives

Develop QCB’s information systems and software, and provide central technical services for the banking sector.

Functions

1. Propose appropriate systems for QCB functions.

2. Manage, develop and update information, technical systems, and hardware.

3. Provide technical support for QCB Departments and Units and assess their needs for hardware, software, and applications.

4. Participate in developing the banking sector’s central technical services.

5. Design and manage communication and information networks.

6. Set policies and take necessary measures to secure QCB’s network in order to maintain the security and privacy of the information.

7. Any other function that falls within, related to, or implied by the nature of work at the department.

Internal Audit Unit

Objectives

Audit QCB’s accounts and financial operations, monitor and verify the implementation of decisions, instructions, and regulations, and propose and apply corrective measures.

Functions

1. Audit QCB’s accounts.

2. Verify the accuracy of QCB’s data and information.

3. Verify the accuracy and soundness of payments, receivables, and the book entry methods.

4. Verify the implementation of the decisions and instructions related to different payment instructions.

5. Verify that accounting principles are adhered to and implemented.

6. Make sudden and periodic checking of the vaults and other assets of QCB.

7. Conduct necessary reports on the soundness of the administrative and financial operations.

8. Coordinate with Audit Bureau and External Auditors to make their tasks easier.

9. Make proposals and suggestions about the most appropriate administrative and financial approaches that lead to improving “quality of work” at QCB.

10. Any other function that falls within, related to, or implied by the nature of work at the unit.

Legal Affairs Unit

Objectives

Provide legal consultations with regard to the implementation of the terms of the laws, by-laws, charters, decrees, and other related legal issues, and prepare draft laws, charters, contracts, and conduct related studies.

Functions

1. Provide legal consultations with regard to QCB Law and its applications.

2. Edit QCB contracts, and review and provide legal consultation with regard to contracts submitted to QCB.

3. Represent QCB in all courts of law, legal and/or judicial forums, such as arbitration and the like, prepare defense memos, and QCB defense memos in this realm.

4. Provide consultation with regard to drafting of decrees, circulars, memos, and the extent of their consistency with the Law.

5. Prepare draft laws, sub-laws, charters, and instructions.

6. Participate in reprimand councils, investigative committees, and other related tasks.

7. Any other function that falls within, related to, or implied by the nature of work at the unit.

Banking Consumers' Service Unit

Objectives

Protect individual consumers of banking services and spread awareness among them in relation to banking-system practices and products.

Functions

1. Monitor and follow up banks and FIs with regard to their provision of competitive banking services and products.

2. Provide protection to individual clients of banks and FIs via:

- Minimizing exploitation and abusive treatment of consumers.

- Clarifying advantages and disadvantages of the various services and products offered to individual consumers by banks and FIs, including all hidden costs, fees, and commissions, plus risks associated with them.

- Requiring banks and FIs to implement complete transparency when dealing with clients and use simple and understandable language.

- Handling other matters and concerns specific to the consumers of banking services.

3. Investigate consumers’ complaints regarding banking services.

4. Spread awareness among consumers of banking services via available media.

Department of Economic Policies

	Department of Economic Policies
	Department of Banking Supervision
	Department of Public Debt, Banking Affairs & Issuance
	Investment Department
	Department of Administrative & Financial Affairs
	Banking System Unit
	Internal Audit Unit
	Legal Affairs Unit
	Banking Consumers' Service Unit