QATAR CREDIT BUREAU – GLEIF ACCREDITED LOU
Qatar Credit Bureau (QCB) is accredited by the Global Legal Entity Identifier Foundation (GLEIF) as an authorised Local Operating Unit (LOU) for the local allocation of Legal Entity Identifiers (LEI). Qatar Credit Bureau issues LEIs to legal entities using the requirements set by GLEIF and the agreed principles outlined by the LEI Regulatory Oversight Committee (LEI ROC)
QCB LOU Accreditation.
View Accreditation Certificate PDF
ACCESS THE LEI MANAGEMENT AND APPLICATION SYSTEM
What is a LEI Code?
The Legal Entity Identifier (LEI) is a 20-digit, alpha-numeric code based on the ISO 17442 standard developed by the International Organization for Standardization (ISO). It connects to key reference information that enables clear and unique identification of legal entities participating in financial transactions. Each LEI contains information about an entity’s ownership structure and thus answers the questions of 'who is who’ and ‘who owns whom’. Simply put, the publicly available LEI data pool can be regarded as a global directory, which greatly enhances transparency in the global marketplace.
Endorsed by the G20 Stability Board, the establishment of a Global LEI System (GLEIS) is critical to improving measurement and monitoring of systemic risk. Global, standardized LEIs will enable regulators and organizations
to more effectively measure and manage counterparty exposure while also resolving long standing issues on entity identification across the globe.
To aid global allocation of LEIs, Local Operating Units (LOUs) have been formed and must be sponsored by local regulators to assign and maintain LEIs to firms on a cost recovery basis.
LEIs uniquely identify your business counterparties on a global basis which:
- Improves risk management.
- Increases operational efficiency.
- Enables more accurate calculation of exposures.
- Simplifies regulatory reporting.
BENEFITS OF THE QCB LEI Management Solution
The QCB LEI Management System offers the Registration, Renewal, Transfer and Updates for Legal Entities based in Qatar through online management system. All required entity registration details, address, ownership information, supporting documentation and payments can be and must be submitted online. The System offers automation and validation where possible to assist the entry of data in accordance to the formats and standards required by the GLIEF.
The Qatar Credit Bureau works to process all submitted LEI requests as soon as possible.
All submissions are validated as per the GLEIF/ROC validation standards. If there is any missing information on your LEI request, your application will be delayed while the additional information is requested and provided. To ensure your LEI is processed as quickly as possible, please check your request is complete and accurate and that you have provided us with the necessary supporting documents as required.
The cost of a new single LEI application is QR 500.
The cost of a single LEI renewal is QR 250.