Highlights on the law regulating the use of cash in some transactions in Qatar: An analytical study

Abstract

This study delves into Qatar's legislation concerning the prohibition of cash payments in transactions exceeding fifty thousand riyals, advocating for alternative payment methods. Despite recent legislative attention, the law grapples with loopholes and ambiguity, prompting a critical examination in this research. Employing a descriptive and analytical approach, the study is structured into two sections: the first scrutinizes the rules of the cash ban and delineates transactions subject to it, while the second analyzes alternative payment methods.Notably, the research reveals that the legislator's attempt to confine the cash ban to specific transactions lacks success, as the justifications for the ban extend beyond particular scenarios. Ambiguity further surfaces in some transactions subjected to the ban, leading to the recommendation for a comprehensive amendment that removes limitations on banned transactions. Additionally, the research suggests that cash alternatives need not be solely linked to banks; instead, they should be authorized by the Central Bank and legitimately circulated within the country.

Keywords

• alternative payment methods
• ،cash limitation
• ،the banking system
• ،qatar mobile payment (qmp)
• ؛
• ،money laundering prevention