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 established strict laws and penalties to combat corruption, including significant reforms to enhance the independence of the State Audit Bureau and the establishment of the Administrative Control and Transparency Authority. Despite these measures, some American businesses report ongoing issues with transparency in government procurement, and while petty corruption is rare, the influence of personal connections in business remains significant.

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 Men’s World Cup. The government anticipates a budget surplus of $300 million in 2024 and aims to expand LNG production by over 85% by 2026-2027, indicating 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 aims to attract $100 billion in inward FDI by 2030, while also providing various incentives, including tax exemptions and streamlined business registration processes. However, challenges remain, including bureaucratic hurdles and labor-related issues that may affect foreign businesses.