E-KYC Regulation

Regulating the Deployment of E-KYC Regulation by QCB-Licensed Entities

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Part A - General Provisions

Article 1 - Short Title & Commencement

The instructions set forth herein are titled the "E-KYC Regulation" and will enter into force as of 09/10/2023.

This regulation is to be read in conjunction with the Law of the Qatar Central Bank and the Regulation of Financial Institutions Qatar Law No. 13/2012, Qatar Law No. 20/2019 on Combatting Money Laundering and Terrorism Financing, Anti- money Laundering and Combating Terrorism Financing Instructions for Financial Institutions May 2020, and the subsequent amendments.

Article 2 - Definitions

For the purpose of this regulation, the following terms are defined as follows, unless the context otherwise suggests:

S.No.

Term

Explanation

1

Application Programming Interface (API)

A set of definitions and protocols for building and integrating application software.

2

Customer

Any Person who utilizes services provided by a QCB-regulated Entity.

3

Electronic Identity Verification (elDV)

A process of verifying the identity of Customers through trusted databases.

4

Electronic Know Your Customer (e-KYC)