Make Payments and Receive Payments in QAR - Qatari Riyal
Pay in Qatari Riyals (QAR)
Mondial Change allows you to make international payments in QAR (Qatari Riyal) with ease. Manage your Qatari Riyal beneficiaries, track your transactions in real-time, and enjoy a secure online platform. We do not apply any exchange commission on your QAR operations (a spread is applied to the exchange rate, which slightly degrades the interbank rate on the currency pair traded). Your client rate is always communicated transparently before the validation of each of your transactions.
Receive Payments in Qatari Riyal (QAR)
Mondial Change allows you to receive payments in QAR (Qatari Riyal). Payments in QAR are received in an account in your name with a dedicated IBAN. This QAR account with a nominative IBAN is provided to you free of charge. It allows you to receive payments in QAR from your clients or subsidiaries and also to hold Qatari Riyals. The QAR can be reused to make payments in QAR. The QAR can also be converted into EUR or any other currency of your choice and repatriated to your bank account. The Qatari Riyal (QAR) account can be located in France or other countries (see possible locations).
Do you want to hedge your exchange risk on the Qatari Riyal (QAR)? Check our dedicated page for QAR exchange hedges.
Mondial Change Answers All Your Questions About Payments in Qatari Riyals (QAR)
What is the timeframe for a QAR payment to be credited to the beneficiary's account?
It generally takes between 1 and 2 business days for a Qatari Riyal transfer to be credited to the beneficiary's account. However, please note that these timeframes are not contractual, and our partners responsible for executing and routing payments cannot be held liable if QAR payments are credited beyond 2 business days to the beneficiary's account.
What are the fees for a payment in Qatari Riyal (QAR)?
The fees applied to Qatari Riyal (QAR) transfers generally range from 0 to 10 euros, depending on the agreement with Mondial Change's trading room. The rate primarily depends on your annual QAR exchange volume and the number of Qatari Riyal payments made during the year.
Are there minimum or maximum amounts for payments in Qatari Riyal (QAR)?
Mondial Change and its partners verify that your Qatari Riyal flows are consistent with the data declared during account opening and consistent with your activity volume to ensure compliance and security. If restrictions apply to transaction volumes, they will be communicated to you well in advance of the validation of your operations.
What are the specific rules for executing a payment in Qatari Riyal (QAR)?
For QAR payments via the SWIFT network, simply provide the following information:
• Full name of the beneficiary
• IBAN
Is it possible to modify a payment in Qatari Riyal (QAR) after it has been executed?
Yes, it is possible with some of our partners to modify a payment in Qatari Riyal (QAR) even after it has been sent in SWIFT. If you have, for example, made an error in the beneficiary's name or account number, the correction is made through a SWIFT amendment. If the payment was not executed via the SWIFT network, then it is not possible to make such amendments, and you must wait for the payment to be returned if applicable.
Is the Qatari Riyal (QAR) account provided to you a bank account, and is it nominative?
The Qatari Riyal (QAR) account for which we provide you the details is not a bank account per se because the account holder is not a bank but a partner payment institution. These accounts are labeled in your name, and the IBAN attached to the account is unique. You thus have a guarantee of segregation of your funds in the books of our partners. The security guarantees for your funds are similar to those offered by traditional banks. The account can be located in different countries according to your operational needs. Please consult the page related to opening a Qatari Riyal (QAR) account for more information.
Is it possible to hold Qatari Riyals (QAR) in the QAR account provided to you?
You can use this Qatari Riyal (QAR) account to receive or store Qatari Riyals. The funds can then be reused to issue payments in Qatari Riyal or be converted into other currencies. The account is also compatible for receiving QAR payments from e-commerce platforms like Amazon or payment systems like Adyen or Stripe.
What are the holidays when payments in Qatari Riyal (QAR) cannot be executed?
January 1st: New Year's Day
Variable date: Eid al-Fitr (end of Ramadan – several days)
Variable date: Day of Arafat
Variable date: Eid al-Adha (Festival of Sacrifice – several days)
Variable date: Islamic New Year (Hijri New Year)
Variable date: Mawlid (Birth of Prophet Mohammed)
December 18th: Qatar National Day
History of the Qatari Riyal
The Qatari Riyal (QAR) is the official currency of Qatar, a country located on the Arabian Peninsula, renowned for its abundant natural resources and rapid economic growth. As the national currency, the Qatari Riyal plays a key role in the country's economy and facilitates transactions both nationally and internationally. The Qatari Riyal is subdivided into 100 dirhams. Its ISO code is QAR, and its symbol is ﷼. Banknotes in circulation are available in denominations of 1, 5, 10, 50, 100, and 500 riyals, while coins are issued in denominations of 1, 5, 10, 25, and 50 dirhams. The Qatar Central Bank is responsible for issuing and regulating the Qatari Riyal, ensuring monetary stability and market confidence.
Monetary Policy of the Qatari Riyal
The Qatar Central Bank implements a monetary policy aimed at maintaining price stability, preserving the value of the Qatari Riyal, and promoting sustainable economic growth. It closely monitors economic indicators such as inflation, exchange rate, and foreign exchange reserves to take necessary measures. Qatar's monetary policy also aims to encourage investment and support the country's financial stability.
Characteristics of the Qatari Riyal
Qatar is one of the wealthiest countries in the world, primarily due to its vast natural gas reserves. This influences the economic stability and value of the Qatari Riyal. Additionally, the Qatari Riyal is pegged to the US dollar, meaning its exchange rate is generally fixed against the dollar. This provides a certain predictability for international transactions.