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15. Related party disclosures Related party balances

Parties are considered to be related if one party has the Balances with related parties are as follows:

ability to control the other party or exercise significant
Amount due from
influence over the other party in making financial and
operating decisions. Related parties include other QFC Non-cancellable rental commitments 2020 | USD 2019 | USD

bodies, associated government departments and

ministries, directors and key management personnel of Ministry of Finance (Note i) 4,879 5,600

the QFC Regulatory Authority, and bodies of which they
are principal owners. Pricing policies and terms of these Qatar Central Bank 884 830

transactions are approved by the QFC Regulatory

Authority’s management. Qatar Financial Markets Authority - 299

Qatar Financial Centre Authority 74 35

Prime Minister’s Office 24 -

5,861 6,764

Related party transactions

The significant related party transactions are as follows:

2020 | USD 2019 | USD Note (i)

Amounts due from Ministry of Finance includes
Appropriations from the Government 35,327 37,651
USD 39 thousand (2019: USD 1,640 thousand)

relating to the payment of salaries and other
Services from QFCA 1,947 1,955
expenses related to NAMLC.

Services to a related party 114 114

Salaries and expenses paid on behalf of related parties 5,400 4,379

Compensation of key

management personnel

Key management personnel include the Board of 2020 | USD 2019 | USD
Directors, Chief Executive Officer, Managing Directors,
Short-term benefits 5,779 5,817
Chief Operating Officer and Chief Financial Officer.

Key management personnel remuneration includes the

following expenses:

T ABLE OF C ONTENT S