Qatar Country Summary

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, according to Transparency International. The government has implemented strict laws and established authorities to combat corruption, including penalties for bribery and embezzlement. However, issues such as a lack of transparency in government procurement and the exploitation of migrant workers persist, alongside challenges related to human trafficking and organized crime.

Qatar is one of the world's largest exporters of liquefied natural gas (LNG) and boasts one of the highest per capita incomes globally, with a GDP of $236 billion in 2022, reflecting a 4.2% year-on-year growth. The economy is primarily driven by the energy sector, which has attracted significant foreign direct investment, and is projected to continue growing, with plans to expand LNG production by over 85% starting in 2026-2027.

Qatar has made significant strides in improving its investment climate, particularly through reforms that allow up to 100 percent foreign ownership in most sectors and real estate in designated areas. The government has allocated $16 billion for major projects in 2024, creating opportunities in infrastructure, healthcare, and energy, while offering various incentives such as tax exemptions and customs duty waivers to attract foreign direct investment. Despite these advancements, challenges remain, including bureaucratic hurdles and labor-related issues that may affect foreign businesses.