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, and 40th globally by Transparency International. The Qatari government has implemented strict anti-corruption laws, including significant penalties for public officials involved in corrupt practices, and established various authorities to promote transparency and integrity. However, some American businesses report challenges related to transparency in government procurement, and while enforcement is strong, 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% year-on-year growth driven by hydrocarbons sales and economic activities related to the 2022 FIFA World Cup. The government anticipates a budget surplus of $300 million in 2024 and plans to significantly expand LNG production, which is expected to further boost the economy.

Qatar's investment climate is characterized by significant opportunities for foreign direct investment (FDI), particularly in sectors such as infrastructure, healthcare, education, and energy. The government has enacted reforms allowing up to 100 percent foreign ownership in most sectors and has allocated $16 billion for major projects in 2024, aiming to diversify the economy and attract international investors. However, challenges remain, including bureaucratic hurdles and restrictions in certain sectors, which may affect the ease of doing business.