Economy of qatar

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Economy of qatar

Qatar was a British protectorate until gaining its independence in whereby it became an absolute monarchy governed under the rule of the Al Thani family. Doha is the largest city and capital of Qatar and Sunni Islam is the predominant religion.

The currency of Qatar is the Riyal QAR and the official language is Arabicalthough English is also widely spoken as it often forms a common denominator language among the Qataris and the large expatriate population.

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Arabic, the language of Islam, linguistically unites expat Muslims and citizen Muslims when English is less well understood. History Qatar has been Economy of qatar for over 50, years, although its emergence as a distinct nation is a fairly recent development.

It was a peripheral part of several empires, including the Seleucids, Parthians, and Sasanians, before being introduced to Islam in the seventh century C. Under the Abbasid caliphate, which peaked in the 13th century, Qatar became a prominent pearling center and saw the establishment of several new settlements.

In the coming centuries, Qatar would change hands several times, falling under brief Portuguese dominion in the 16th century before submitting to the rising Ottoman Empire in The Ottomans eventually lost interest in the area and the subsequent lack of military presence led to their expulsion by the Bani Khalid, an Arab tribal confederation that ruled much of the Persian Gulf.

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Centered in what is today eastern Saudi Arabia, the Bani Khalid held sway over Qatar throughout most of the 17th and 18th centuries. The Al-Khalifa continued to claim the area, and the two factions fought a war that culminated in an truce mediated by the British. The agreement recognized Mohammad bin Thani as the rightful representative of the Qatari people.

Following a political dispute with his ostensible overlords, Qasim Al-Thani led a revolt in gaining Qatar further autonomy within the Ottoman Empire and paving the way for the development of a sovereign nation.

The British would protect the nation from both internal and external threats, allow for special rights for British subjects operating in the territory, and ensured that the U. While this arrangement meant that the British exercised de facto power over the country, it also signified yet another big step towards complete sovereignty.

Economy of qatar

Following the end of the Second World War, British power in the region began to wane, while increased oil revenue allowed Qatar to expand and modernize its economy. By the s, this newfound wealth, combined with ever-diminishing British influence, allowed Qatar and its neighbors to pressure the U.

Inthe British officially announced that they would fully depart from the Persian Gulf in three years, leaving it up to the inhabitants to determine their post-independent future. Upon this declaration, Qatar considered joining a federation with Bahrain and the seven Trucial States which make up present-day United Arab Emirates.

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Unable to agree on the terms of the federation, Qatar opted to go its own way and adopt a constitution declaring its independence inwhich the U. After nearly years of gradually gaining autonomy, Qatar was now a fully sovereign, self-governed state. Forming the basis of Qatari nationhood and civic identity, the Constitution of Qatar states that the ruler will always be chosen from the Al-Thani family with assistance by a council of ministers and a consultative council.

The consultative council was never elected; instead, there is an advisory council appointed by the ruler. The native people of Qatar roughly span three distinctive ethnic and culture groups.

First are the Bedouindesert nomads and traders who number around 37,Economy. Like many other GCC countries, oil and natural gas reserves form the foundation of Qatar’s economy accounting for 50 percent of its billion GDP, 85 percent of its billion export earnings, and 70 percent of the government’s total revenue of billion.

Law No. (5) of (2)Law No. (5) of Commercial Companies Law We, Hamad Bin Khalifa Al Thani, the Emir of the State of Qatar, after having reviewed the amended provisional constitution, especially the articles (23), (34) and (51) of the same; and.

Economy. Like many other GCC countries, oil and natural gas reserves form the foundation of Qatar’s economy accounting for 50 percent of its billion GDP, 85 percent of its billion export earnings, and 70 percent of the government’s total revenue of billion.

In , after years of behind-the-scenes wrangling involving the shaykh, British and United States oil companies, the British, and the Saudis, an onshore concession was granted to the AngloPersian Oil Company, which transferred the concession to Petroleum Development (Qatar), an affiliate of the.

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Economy of qatar

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Qatar Legal System As a result of adequate crude oil supplies at the time, exploratory drilling in Qatar did not begin until
The Economy - Oil and Natural Gas Munzir obliged his request, and accordingly, most of the Arab tribes in the region converted to Islam.
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