The QFC Regulatory Authority today warned investors and consumers about a purported investment fund claiming to operate in Doha, Qatar.
The Regulatory Authority strongly advises 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% profit in 24 hours. This firm is not licenced by the QFC Authority or authorised by the QFC Regulatory Authority.
On its website, www.qatar-investment.biz, the company makes two false claims:
FALSE: that it is linked to a genuine company authorised by the QFC Regulatory Authority, namely QInvest LLC.
FALSE: 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.
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
Details of all firms licensed by the QFC Authority can be found at the link below:
http://www.qfc.qa/en/operate/cro/Pages/publicregister.aspx