QATAR BAN ON CASH TRANSACTIONS OVER QAR 50,000 (ABOUT $13,500)

On 28 July, Doha News reported that the use of cash in transactions exceeding QAR 50,000 is prohibited in selected trading outlets, according to a new ruling from the Qatar Central Bank.  This is said to be part of efforts to combat money laundering and terrorism financing, which prohibits illegal transactions arising from money laundering, funding of terror, and any other illicit activities.  Those involved in a transaction worth QAR 50,000 or more must make payments via cheque, credit card, debit card, or bank transfer.

https://dohanews.co/qatar-tackles-corruption-with-new-ban-on-cash-transactions-over-qar-50000/

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section View all posts by raytodd2017