Qatar: Qatari Riyal (QAR) becomes full settlement currency in Clearstream Banking
Clearstream Banking1 informs clients that effective, value date
1 July 2024
the Qatari Riyal (QAR) will become a full settlement currency in Clearstream Banking. This enhancement comes in response to a growing demand by investment banks and issuers to issue and settle securities denominated in QAR.
Clearstream Banking has appointed Standard Chartered Bank, Qatar Branch as its cash correspondent bank (CCB) for QAR currency.
Impact on clients
From value date 1 July 2024, all payments should be made to the following account:
Currency: | Qatari Riyal (QAR) |
CCB name: | Standard Chartered Bank, Qatar Branch |
CBL account: | IBAN: QA17 SCBL 0000 0000 0009 4743 0160 1 Account Name: Clearstream Banking S.A. |
SWIFT address: | SCBLQAQXXXX |
Cash instruction deadlines
The applicable deadlines with Standard Chartered Bank, Qatar Branch will be as follows:
Period | Pre-advice | Withdrawal | Transfer | FX |
31 March 2024 to 26 October 2024 | VD 09:30 | VD 09:30 | VD 20:00 | VD-2 11:30 |
27 October 2024 – 29 March 2025 | VD 08:30 | VD 08:30 | VD 20:00 | VD-2 11:30 |
Note: All times are Central European Time (CET) unless otherwise stated. Please note that Qatar does not apply Daylight Saving Time (DST).
Further information
The Cash Timings Matrix will be updated on the effective date.
For further information, please contact Clearstream Banking Client Services or your Relationship Officer.
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1. Clearstream Banking refers collectively to Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248, and Clearstream Banking AG (for Clearstream Banking AG clients using Creation accounts), registered office at Mergenthalerallee 61, 65760 Eschborn, Germany, and registered in Register B of the Amtsgericht Frankfurt am Main, Germany, under number HRB 7500.