FATF status

Qatar is not on the FATF List of Countries that have been identified as having strategic AML deficiencies

Compliance with FATF Recommendations

The last Mutual Evaluation Evaluation relating to the implementation of anti-money laundering and counter-terrorist financing standards in Qatar was undertaken in 2023. According to that Evaluation, Qatar was deemed Compliant for 32 and Largely Compliant for 8 of the FATF 40 Recommendations. It was deemed Highly Effective for 0 and Substantially Effective for 4 of the Effectiveness & Technical Compliance ratings.

Corruption in Qatar is relatively low, with the country ranked as the second least corrupt in the Middle East and North Africa by Transparency International in 2023. The Qatari government actively enforces anti-corruption laws, imposing severe penalties for corrupt practices, including bribery and embezzlement, while also promoting transparency in public procurement through new regulations. However, some American businesses report challenges related to transparency in government processes, and despite the effectiveness of anti-corruption measures, high-ranking officials often evade prosecution.

Qatar is one of the largest exporters of liquefied natural gas (LNG) globally, with a GDP of $236 billion in 2022, reflecting a 4.2% increase from the previous year, largely due to hydrocarbons sales and economic activities related to the 2022 FIFA Men’s World Cup. The government anticipates a budget surplus of $300 million in 2024 and aims to expand LNG production significantly starting in 2026-2027, contributing to a positive economic outlook.

Qatar's investment climate is characterized by significant opportunities for foreign direct investment (FDI), particularly in sectors such as infrastructure, healthcare, education, and energy, supported by government reforms allowing up to 100% foreign ownership in most sectors. The government has allocated $16 billion for major projects in 2024 and offers various incentives, including tax exemptions and a favorable corporate tax rate of 10% for most sectors. However, challenges remain, including bureaucratic hurdles and restrictions in certain sectors, which may affect foreign businesses.