REGION E – THE MIDDLE EAST
THE SINKING OF THE TITANIC
(April 14-15, 1912 – North Atlantic Ocean)
Qatar Central Bank
ROTHSCHILD OWNED & CONTROLLED CENTRAL BANK
The Official Story
QATAR CENTRAL BANK
The Qatar Central Bank is the central bank of Qatar.
The Qatar Central Bank was originally until 1993 known as the Qatar Monetary Agency (and was known before that as Qatar Dubai Currency Board), founded on May 13, 1973 after Dubai joined the United Arab Emirates and disengaged itself from British monetary policy which the area had previously followed. The Qatar Monetary Agency assumed the duties of a central bank. In 1973, Amiri Decree No. 24 authorized the issuance of the Qatari Riyal (QR).
Over its history the Qatar Central Bank has increasingly worked in association with other, larger central banks to achieve a stable currency for the country, most recently and notably with the Monetary Authority of Singapore.
Article no. 5 of the Law of the Qatar Central Bank and the Regulation of financial Institutions issued by Law no. 13 of 2012 states the central bank’s objectives for Qatar’s economic policy:
Preserve money value and assure monetary stability.
Act as a regulatory, control and supervisory higher authority for all the services, business, markets and financial activities inside or though the state of Qatar in accordance with the best international standards and practices.
Establish a stable, transparent, competitive and governance sector for carrying out services, business, markets and financial activities based on market rules.
Reinforce public confidence in Qatar as a pioneering global hub for services, business, markets and financial activities.
Ensure consistent development of services, markets and financial activities sector in line with the objectives of economic and comprehensive development in Qatar.
In addition, the Qatar Central Bank serves the primary roles of many central banks. These roles are stated in Article no. 6, 7, and 8 of Law no. 13 and include (among others) the following duties:
Stability of QR exchange rate and its capacity of being exchanged for other currencies.
Cash issuance and regulation of its circulation.
Act as a bank for all the banks and financial institutions in Qatar.
Financial and Banking stability.
Administer and invest its money and reserves.
Lay out regulations, instructions and guidance on governance, transparency and sound management in all financial institutions under QCB’s supervision.