MoCI Cautions Investors Against Dealing With Unlicensed Entities

DOHA: The Ministry of Commerce and Industry (MoCI) has warned against dealing with any unlicensed entities claiming to offer investment opportunities without verifying the validity their registration.

In a post on its X platform yesterday, the Ministry emphasised that raising funds or providing advice without a license constitutes a legal violation and exposes investors to risks.

In a notice to investors, MoCI warned citizens and residents in Qatar against engaging in any investment activities, signing contracts, or transferring funds to companies or entities claiming to offer investment opportunities without verifying the validity of their legal documents and commercial registration.

It further noted that any unlicensed entity is legally prohibited from engaging in fundraising activities or providing investment services to the public and engaging with such entities exposes investors to legal accountability and financial risks.

The Ministry stressed the importance of prior verification of the entity by the investor before dealing with it as this plays a fundamental role in protecting investors’ rights and ensuring safe investment opportunities.

The Ministry of Commerce and Industry is responsible for supervising commercial and industrial activity, registering commercial and investment facilities, and issuing the necessary licenses to practice the activities in accordance with the requirements of national development.

The Ministry’s mandate includes developing businesses and attracting investments, as well as supporting and promoting exports. It works to develop the legal and institutional framework for the purpose of instilling transparency.

In another post on its social media handle recently, the Ministry of Commerce and Industry reminded business owners of the necessity of providing electronic payment services in-store to avoid any resulting penalties.

MoCI issued a reminder for commercial establishments that pursuant to Ministerial Resolution No. (161) of 2017 and Law No. (5) of 2015, all commercial establishments are required to provide electronic payment services to consumers.

The failure to provide electronic payment services to consumers is a violation of Article (18) of Law No. (5) of 2015 and the penalty for failure to provide these services would result in closure for a period of 15 days, or for a period determined by the competent authority, it noted.

The Ministry of Commerce and Industry Strategy 2024-2030 represents an ambitious roadmap that supports Qatar’s sustainable development goals to achieve balanced and inclusive economic growth, aligned with the Qatar National Vision 2030 and in line with the Third National Development Strategy (NDS3).

The Ministry’s strategy focuses on enhancing and developing the commercial, investment and industrial sectors, which will embolden Qatar’s global competitiveness, encourage innovation and sustainability, and improve the quality and delivery of services.

This is underpinned by our on-going mandate to prioritise the protection of consumer rights according to the highest global standards.