To all banks working in the State of Qatar

Doha

Greetings,

Subject: Payment Services Regulation (Licensing and Regulating Payment Service Providers)

In reference to the above subject, kindly be informed that Qatar Central Bank issued the payment services regulation (attached) that defines the rules and conditions of licensing and regulating the payment services providers in the State of Qatar.

You are kindly required to instruct all companies that provide payment services through the bank to necessarily regularize themselves, and to approach Qatar Central Bank, within three months from the date of this circular, to get the necessary license.

In case of noncompliance and failure to obtain the necessary license within the above timeframe, the bank shall suspend dealing with noncomplying companies, and shall not deal with any new company that provides payment services, unless that company obtains the necessary license required by Qatar Central Bank. In addition, the bank shall, in case it doesn’t desire to provide any new payment services, get prior approval of Qatar Central Bank.