Banking in Qatar – A Guide


This helpful guide will explain all about banking in Qatar.

The country maintains a substantial network of national and international banks and banking in the country is easy. Qatar’s Wage Protection System requires all working expatriates to have a local bank account.

Financial system

Qatar Central Bank (QCB) is a national bank and the monetary and regulatory authority for Qatar’s financial system. Part of the role and responsibility is the formulation and implementation of policies.


Multi language ATMs are available across the country. Some ATMs provide foreign currencies such as Euros and US Dollars too. In general, ATMs operate 24/7 and accept national and international cards.

Opening hours

Banks are open from 7:30AM to 1:00PM from Sunday to Thursday. The most popular branches in busy shopping malls are open until 9:00PM. Some branches are open on Fridays and Saturdays as well.

Products and services

Residents in the country have access to a wide range of products and services including:

Current accounts: Used for everyday banking - generally fee free if a minimum balance is maintained

Savings accounts: Pay higher interest than current accounts, but lower than fixed deposit accounts.

Fixed deposit account: Mainly for long-term saving and usually offers higher interest rates.

Overdrafts: Cheques are widely used in Qatar and a bounced cheque is considered a criminal offense. Prosecutions and punishments can be harsh, including prison terms in worst cases.

Additional products and services

Insurance: Insurance services cover risks like health, natural accidents, property and business etc.

Expat services: Certain banks offer savings accounts in foreign currencies including USD, EUR or GBP.

Types of banking

Online banking: Qatar offers innovative electronic services among the most advanced in the world.

Mobile banking: Many banks provide mobile banking for customers using downloadable applications.

Business banking: The largest banks in Qatar offer corporate business accounts but require your Commercial Residence (CR) – a document stating you have a legal company.

Opening a bank account in Qatar

Opening a bank account in Qatar is relatively easy.

The following documentation must be submitted:

Passport copy

resident permit copy;

a “no objection” letter from their employer stating monthly wage;

two passport photos.

Local money transfers

Transferring between local accounts is easy. If using the same bank the transfer will be free and instant. If using different banks it can take up to 24 hours. It can be done online or in branch.

International money transfers

All banks in Qatar offer international transfer services. However, a money transfer exchange may offer better rates, lower fees and faster transactions. Most currencies are available.

Frauds and scams

The Ministry of Interior (MOI) warns all residents not to share personal information or banking details. There are channels for help, if you realise you have fallen victim. In case of a scam or suspicious online activity, call +974 4234 7444 or +974 6681 5757 or send an email to The Communications Regulatory Authority urges residents to share their scam stories relating to mobiles, calls or spam at

It is important to be aware of the following local scams:

Fake calls from overseas or mobile operators such as Vodafone and Ooredoo.

• Being offered free gift vouchers/gifts from reputable brands. Your social media account may be compromised or hacked when you click on the link.

• Fake emails (embassy e-mail, recruitment agencies and final settlements). These emails ask the person to click a link leading to compromised personal details.

Please click on the link and reach out to learn more about banking in Qatar and other relevant issues as well as Business Start Up Qatar.

Other News

News 3 - Thumb

Manateq to invest in industrial zones

The Economic Zones Company – Manateq has announced to invest more than QAR 10 bn (USD 2.75 bn) as part of a five-year plan for new projects and to develop the infrastructure in the industrial zones of...

Read more
News 2 - Thumb

Qatar’s Attractive Investment Climate showcased

The benefits of Qatar`s free zones and the country’s attractive investment climate were recently showcased at a virtual event hosted by the Los Angeles World Affairs Council & Town Hall.

The State...

Read more
News 1 - Thumb

QDB concludes Rowad Qatar 2020 for entrepreneurship

The Qatar Entrepreneurship Conference - Rowad Qatar 2020 - recently concluded in Doha. The event was organised by the Qatar Development Bank (QDB) as part of the Global Entrepreneurship Network (GEN) movement....

Read more
QBIC LMP - Thumb

QBIC launches second wave of Lean Manufacturing Program

Qatar Business Incubation Center (QBIC) recently launched the second wave of their Lean Manufacturing Program (LMP) for local entrepreneurs with the interest to learn more about...

Read more
Dhareeba Tax  Thumb

GTA extends registration on Dhareeba portal

The General Tax Authority (GTA) has announced an extension for the registration on the ‘Dhareeba’ Tax Portal. The new deadline will be December 31st, 2020.

In addition, the General Tax Authority...

Read more
Labour Reforms - Thumb

QC & MADLSA issue guide for labour re-employment platform

The Qatar Chamber (QC) in collaboration and cooperation with the Ministry of Administrative Development, Labour and Social Affairs (MADLSA) recently issued a guide for companies...

Read more

Announcing the launch of the in the game sports podcast website

Dear businessmen and women, colleagues, friends and followers!

We are pleased to announce the launch of - the website of In...

Read more
Manateq - Thumb

New plots at Manateq’s Birkat Al Awamer Logistics Park

The logistics parks in the State of Qatar, combined with expanding road networks, are changing the way goods are being moved in the country.

The Economic Zones Company - Manateq has launched new lease...

Read more

Page Break