About Qatar

General Information
Qatar officially the State of Qatar is a sovereign country located in Western Asia, occupying the small Qatar Peninsula on the northeastern coast of the Arabian Peninsula. Its sole land border is with Saudi Arabia to the south, with the rest of its territory surrounded by the Persian Gulf. An arm of the Persian Gulf separates Qatar from the nearby island country of Bahrain.

Population
Qatar has a population of 2,675,522

Political Structure
Qatar is either a constitutional or an absolute monarchy ruled by the Al Thani family. The Al Thani dynasty has been ruling Qatar since the family house was established in 1825. In 2003, Qatar adopted a constitution that provided for the direct election of 30 of the 45 members of the Legislative Council. The constitution was overwhelmingly approved in a referendum, with almost 98% in favor.

Economy
Before the discovery of oil, the economy of the Qatari region focused on fishing and pearl hunting. Report prepared by local governors of Ottoman Empire in 1892 states that total income from pearl hunting in 1892 is 2,450,000 kran. After the introduction of the Japanese cultured pearl onto the world market in the 1920s and 1930s, Qatar’s pearling industry crashed. Oil was discovered in Qatar in 1940, in Dukhan Field. The discovery transformed the state’s economy. Now, the country has a high standard of living for its legal citizens. With no income tax, Qatar (along with Bahrain) is one of the countries with the lowest tax rates in the world. The unemployment rate in June 2013 was 0.1%. Corporate law mandates that Qatari nationals must hold 51% of any venture in the Emirate.

Language
Arabic is the official language of Qatar

Currency
Riyal (QAR)