Common Law. International Standards.
Parallel & Separate
Qatari Law No. 7 of 2005, as subsequently amended (‘QFC Law’), became effective on 1 May 2005. It sets out the structure of the QFC and establishes the independent bodies necessary for its operation. These include the QFC Authority, the QFC Regulatory Authority, the Civil and Commercial Court (first instance and appellate divisions) and the QFC Regulatory Tribunal.
QFC Regulations establish the legal framework including legal and business infrastructure for those doing business in the QFC. The QFC Financial Services Regulations (FSR), enacted under the QFC Law, are the primary Regulations which define the management, objectives, duties, functions, powers and constitution of the QFC Regulatory Authority. The QFC Authority Regulations enacted under the QFC Law are the primary Regulations which define the role and function of the QFC Authority. The Regulations for the Civil and Commercial Court of the QFC and the QFC Regulatory Tribunal will be issued in due course.