Qatar - Caution urged about unsafe investments
Date
2/18/2022 11:10:28 PM
(MENAFN- Gulf Times)
Experts and citizens have warned about the dangers of unsafe investments promoted by some fictitious and dubious 'companies' through websites, social media platforms or SMS, promising people quick profits. In statements to local Arabic daily 'Arrayah' recently, the experts and citizens told such 'companies' mostly market themselves through websites and personal communication platforms, asking their 'victims' to transfer sums of money directly or through intermediaries.
They can stop their activities and change their name within hours to open another so-called company with a different name and account. Others do so within days, taking advantage of weak control in the countries in which they operate, the daily was told.
The experts advised that individuals who want to invest money in foreign 'companies' should first check with Qatar's embassies in the countries where the companies are supposedly located. The embassies can help them enquire about such 'companies' or seek the assistance of trusted local brokers, in addition to benefiting from the experience of investment companies located in Qatar.
They also stressed the need to seek the assistance of specialised legal offices to obtain legal advice and assist them in knowing the identity of the 'companies' and their legal position before making any financial transfers to them.
Dr Juma bin Nasser al-Kaabi |
Lawyer Dr Juma bin Nasser al-Kaabi advised people who want to invest their money in foreign 'companies' to refer to specialised legal offices to seek advice and ascertain the identity of such 'companies' before making any financial transfers to them.
Stressing that genuine companies must have a documented and approved licence and will be an institutional entity approved by law, he said this is important for guaranteeing the legal and financial rights of the person dealing with such 'firms'.
He explained that fictitious 'companies' have become widespread, which lure the public with claims of helping them earn profits and get rich quickly. So, it is necessary to properly check the credentials first before taking any step so that the person concerned does not fall into the trap of fraud and fake investment.
Dr Rajab al-Ismail, professor of Economics at Qatar University, referred to the spread of the phenomenon of anonymous messages on phones, social media accounts and websites. These call for investments in return for attractive returns and profits, and sometimes even come in the form of phone calls from unknown numbers from some countries.
He said, 'The majority of such messages and communications represent a fraud, and therefore we advise those wishing to invest to enrol in a specialised course. It also provides an opportunity for those wishing to invest abroad using a reliable local intermediary.'
He pointed out that investing in Qatar is safer and there are many investment opportunities that can achieve good returns for citizens, including the stock market, instead of taking the risk of investing in markets that one knows nothing or little about.
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