Licensing of Financial Services Activities
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First: Granting Licenses
- Complete the form of licensing of financial services activities electronically signed by the concerned person with the company’s seal .
- Attach the required documents and pay the fees (5000) QR for reviewing license application.
- The QFMA shall have the right to request any additional information or documentation deemed necessary when processing the application.
- The QFMA shall issue its decision on the license application within a period of 30 days from the submission of the full and complete application.
- The license period shall be three years and expire at the end of December of the year. The first license shall be valid from the date of its grant until the end of December of the third year after the year of granting the license.
For more inquiries, the applicant shall communicate with the Licensing Department at the QFMA at the following email address:
licensing@qfma.org.qa
Second: Renewing Licenses
- Complete the licensing renewal form electronically signed by the concerned person with the company’s seal .
- The renewal form shall be submitted two month before the license expiration date.
- Attach all the required documents including a fees renewal payment statement as determined at the fees table.
- The decision shall be issued within 30 days from the date of the receipt of the full and complete application.
Third: Capital and Fees (Qatari Riyal):
The following table shows the minimum paid-up capital required for each financial service activity and the applicable fees for granting a license(s) and license renewal.
| Activity | Capital (QR) | License Fees | License Renewal Fees (3 years)
| Bank Guarantee |
Executing Broker | 3,000,000 | |
| 1,000,000 to the Authority |
Clearing Broker | 10,000,000 | | | 5,000,000 to the Depository |
Full-Service Broker | 20,000,000 | | | 10,000,000 to the Depository |
Other financial services companies: | | | | |
| Execution of securities purchase or sale's orders for others | 3,000,000 | 100,000 | 30,000 | |
| Securities' trading for own account | 5,000,000 | 50,000 | 15,000 | |
| Custody services (cash or securities) | 20,000,000 | 50,000 | 15,000 | |
| Advice on securities | 1,000,000 | 100,000 | 30,000 | |
| Securities' investment management | 5,000,000 | 100,000 | 30,000 | |
| Investment trusteeship | 2,000,000 | 50,000 | 15,000 | |
| Underwriting issuance of securities. | 5,000,000 | 50,000 | 15,000 | |
| Securities' issuance management | 2,000,000 | 100,000 | 30,000 | |
| Liquidity provider | 10,000,000 | | | |
| Securities' lending and borrowing | 2,000,000 | | | |
| Margin trading | 10,000,000 | | | |
Market Maker. | 20,000,000 | | | |
Marketing and promotion.
| 100,000 | | | |
Listing advisor. | 100,000 | | | |
Broker Agent. | 100,000 | | |
|
The total minimum capital for clearing broker shall be 15 QR million and for full-service broker shall be 30 QR million if either of them apply to perform any of the optional financial services activities available for each of them. This has resulted in an increase in the total minimum activities beyond the above limit. For other financial services companies licensed to perform all financial services activities (excluding margin trading, securities’ lending and borrowing, execution of securities purchase and sale’s orders for others,
securities’ trading for own account, market maker and liquidity provider), the minimum paid up capital shall be QR 25 million in case apply for performing all these activities.
The activities of margin trading, securities’ lending, execution of securities purchase and sale’s orders for others, securities’ trading for own account, market maker and liquidity provider shall be restricted to categories of financial broker according to the classification set out in Article (5).
