A passive Q-switch for a laser system, and a method for its production. The laser is operative at near infrared wavelength region, including the eye-safe region. The Q-switch includes a saturable absorber based on IV-VI semiconductor nanocrystals (NCs), embedded in a polymer matrix. The NCs preferably include lead selenide, lead sulfide, or lead selenide sulfide. The NCs may be surface passivated, and may feature a PbSe/PbS core-shell configuration.