1. Are there any restrictions on deposit-taking in Qatari Riyals by an Authorised Firm?
Activities permitted to be carried on in or from the QFC are detailed in schedule 3 of the FSR. In terms of regulated activities the scope of these activities are wide and include most (if not all) services typically associated with the carrying on of commercial, private and investment banking. There are no banking-specific prohibitions such as a restriction on deposit-taking or dealing in any specific currencies (including the Qatari Riyal). However, while the drafting of the QFC Law is broad relative to the scope of permitted activities, as a matter of policy made by the QFC Authority, Banking Business (Deposit-Taking and Providing Credit Facilities) with or for retail customers resident in Qatar is currently prohibited.