CHAIRMAN: DR. KHALID BIN THANI AL THANI
EDITOR-IN-CHIEF: DR. KHALID MUBARAK AL-SHAFI

Business / Qatar Business

“Qatar Investment Company” not part of QFC and not regulated by QFC Regulatory Authority

Published: 18 Jan 2018 - 12:10 am | Last Updated: 24 Nov 2021 - 02:49 am

The Peninsula

DOHA: The QFC Regulatory Authority yesterday warned investors and consumers about a purported investment fund claiming to operate in Doha, Qatar.
The Regulatory Authority strongly advised people to avoid any dealings with a purported Qatari investment services company called “Qatar Investment Company”, and any person connected with the company. The company is offering investment returns of 3,000 percent profit in 24 hours. This firm is not licenced by the QFC Authority or authorised by the QFC Regulatory Authority, an official statement noted.
On its website, www.qatar-investment.biz, the company makes two false claims: ‘that it is linked to a genuine company authorised by the QFC
Regulatory Authority, namely QInvest LLC and that its address is at P.O. Box 22504 Doha, which appears to be the postal address of a non-QFC entity in the State of Qatar’. Both the claims are totally false.If consumers are offered financial services or advice by a firm, it is important that they confirm the firm is properly regulated to conduct financial services, and that they will benefit from the applicable protection afforded to consumers. A firm that is properly regulated will be able to provide that confirmation quickly by referring the prospective consumer(s) to the public records maintained by its respective regulator.
If a firm states that it is authorised by the QFC Regulatory Authority, consumers can confirm this by checking the Public Register on the Regulatory Authority’s website at www.qfcra.com.