Monetary Policies Monetary Policies. 1- Qatar Central Bank shall determine and announce the Central Bank rate from time to time. Interest may be calculated on current deposits from which withdrawals can be made by check but may not exceed the bank rate, provided the amount of the deposit is not less than one million Qatari riyals. 3- Interests on saving deposits shall be open for competition provided they do not exceed the bank rate.
Banks are free to grant interest on margin.
The bank rate shall be an indicator in fixing interest on credit facilities in Qatari riyal with the exception of substandard, doubtful, bad and scheduled and non-scheduled credits. 2- Interest on credit facilities and deposits shall be calculated on the basis of a year being of 360 days. 3- Interest rates on deposits blocked as guarantees for loans shall not exceed interest rates on said loans whether in Qatari riyal or in U.S dollar. Governing Discount or Rediscount of Commercial and Financial Papers. Pursuant to the provisions of articles 37 and 38 of decree law number 15 of 1993 establishing the Qatar Central Bank, it is hereby decided.