Georgetown University: School of Foreign Service in Qatar

General Information

Currency and Exchange Rate

The currency of Qatar is the Riyal, printed in paper units of 1, 5, 10, 50, 100 and 500. The Riyal is divided into 100 Dirhams, and there are thin coins worth 25 and 50 Dirhams.

The riyal is pegged to the U.S. dollar, at an exchange rate of QR 3.65 to US $1.  Currencies can be exchanged at banks, large hotels, and exchange centers in shopping malls.

Financial Transactions

It's a good idea to carry with you a supply of small bills since many stores will not be able accept the larger QR100 or QR500 bills.  Many shops outside of malls prefer cash and will offer better prices for cash purchases.

Direct Deposit

SFS-Qatar employees may choose to have their salary deposited directly into a U.S. bank or have all or part of their salary deposited in Qatari riyals ino one of the banks in Qatar.  Please visit the payroll section of this website for more information on setting up a direct deposit.

Banking in Qatar

There are 17 national and foreign banks operating in Qatar.  Banks in Qatar offer standard banking services - checking, savings, loans (including car loans), credit cards, traveller's checks, money transfers and ATM services. 

In general, bank hours run from 7:30 a.m. to 1 p.m. Sunday through Thursday.  Some bank branches, particularly those in malls, have Friday and afternoon/evening hours. 

Opening an Account

Banks almost always require that you have your residence permit, proof of employment or a Sponsor, and a statement of your monthly salary in Qatari riyals in order to open an account.  Some banks may also require passport photos. 

For assistance with a proof of employment letter, please contact Human Resources.

ATMs

There are ATMs at bank branches, shopping malls, hotels, and some supermarkets.  Qatar National Bank (QNB) has both a branch office and an ATM available in Education City at the Qatar Foundation Recreation Center. 

While few, if any, Qatari banks charge a fee for using their ATMs, you may incur a fee from your personal bank if it is located outside of the country.  Fees can run as high as US$5, so for this reason alone it may be advantageous to open an account with Qatari-based bank.  

Networks accepted at most ATMs are American Express, Cirrus, Plus, Visa Electron, MasterCard and Visa.

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