On March 27, 2024, the Al Sharq daily revealed that exchange houses had started raising the costs of international transfers by QR 5 for every transfer to different nations worldwide.
According to Al Sharq, exchange house representatives stated that the fee hike was put into effect following approvals and that it came about after the fees had remained the same for 20 years.
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The higher fees have been put in place to assist exchange houses in covering expenses related to service expansion in order to satisfy the demands of the local market and guarantee that clients receive competitive, high-quality services.
The Al Sharq newspaper further stated that the central bank of Qatar is authorized to oversee, monitor, and control money exchange houses in accordance with Article 11 of Law No. (36) of 1995, which regulates money exchange firms. The central bank may also request any information or data it thinks appropriate to acquire.
