Project Details

Qatar’s Aggressive Actions Against Money Laundering and Terrorism Finance

Qatar-America Institute Welcomed Qatar’s Minister of Finance and Governor of the Central Bank of Qatar

Executive Summary:

  • Qatar has a robust legal framework in place to combat money laundering and terrorist financing and Qatar is committed to its effective implementation.
  • Qatar has aggressively adopted new laws to maintain the integrity of Qatar’s financial system and to protect it from abuse by criminal behavior, including terrorist financing and to make Qatar a hostile environment for illicit finance.
  • The scope of these laws is designed to bring all of the financial entities under Qatar’s jurisdiction under the umbrella of one regulatory authority – the National Anti-Money Laundering and Terrorism Financing Committee.
  • The laws and related regulations apply to all relevant sectors, including: banks, Insurance, money transmission services, broker-dealers (securities), asset management financial advisory, designated non-financial businesses, and professions (DNFBPs).
  • Qatar has signed a Memorandum of Understanding with the Government of the United States relating to co-operation on anti-money laundering and countering terrorism financing. Qatar is currently hosting annual bilateral workshops with the US (Treasury, Justice and State Departments) and their Qatari counterparties to implement the provisions of the MoU.

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