Expat Finance Services in Qatar

The official currency that has been used in Qatar since the year 1966 has been the Qatari riyal. In 1966 it replaced Gulf rupee as the country's national currency. It has been pegged to the rate of 27.4 American cents per riyal since 1980. Bank notes for Qatari riyals come in various colors in denominations of 1 (brown), 5 (green), 10 (orange), 50 (purple), 100 (green and purple) and 500 (blue). There are no legal limits to transferring funds into or out of Qatar. There are several branches of banks in that nation, which consist of both Qatari and international banks. Banks in Qatar's Airports often stay available around the clock and cater to travelers who are exchanging foreign currency. There is furthermore the Islamic kind of bank that is just for Muslims and is not permitted to charge any rate of interest. All who dwell in Qatar can have a bank account, albeit only with a vast quantity of supporting documentation needed, such as a statement from the employing firm demonstrating one's paycheck that will go automatically into the account and a legal residence permit for Qatar. Many shops in Qatar prefer customers to buy using cash instead of by check. Writing a check without the funds in Qatar carries a severe penalty. There are abundant ATM machines that let riyals be withdrawn through a bank card. With some Qatari ATMs, the riyals should be removed in short order, or else the ATM might withdraw the money back into itself.