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Launching Qatar Financial Information Unit (QFIU) Strategy 2013-2017 and its New Logo 25/Nov/2012

Launching Qatar Financial Information Unit (QFIU) Strategy 2013-2017 and its New Logo

The QFIU launched its Strategy 2013 -2017 under the slogan “Financial Transparency to Promote Stability and Security” and its new developed logo, during a ceremony organized by the QFIU in the presence of HE Sheikh Fahad Bin Faisal Al Thani, Deputy Governor of Qatar Central Bank Chairman of the National Anti-Money Laundering and Terrorism Financing Committee.

HE Sheikh Ahmed bin Eid Al Thani, Head of QFIU, mentioned that the launching of the new strategy comes in the midst of the increased global crime rates that are posing additional risks and threatening communities and global economies. He pointed out that Qatar was characterized by lower rates, as according to official statistics reported by competent authorities recorded crime rates related to public safety and security are well below global average levels.

He added that QFIU has similar interests and views as its counterparts and concerned authorities, which clearly reflects the importance of tightening controls and combating regimes that are threatening the economy, noting that crimes evolve over time and may far exceed legitimate evolution of systems, which entail serious action and due diligence.
He added that the QFIU has adopted a development initiative since 2011 consisting of Defining QFIU’s vision, mission and general objectives, Making optimal use of resources and capacities, Ensuring integrated and coordinated workplace, Setting priorities in line with the actual needs, Controlling implementation issues, and Mitigating potential risks.


Qatar Financial Information Unit - New Logo

HE added that the QFIU has permanently adopted the principle of promoting career capacities and youth aspirations towards positive change of the rigid rules or traditional policies, and supporting any project aiming at achieving the desired goals with the state of the art methods and techniques.

Accordingly, the QFIU has defined its vision statement as “National Competency, Professional High Performance and International Excellence in Combating Money Laundering and Terrorism Financing”.
He also stressed that the QFIU is working on “protecting the integrity and economy of the State of Qatar through effective exchange of information, transparency enhancement and capacity building to help detect and deter money laundering and terrorism financing activities”.
HE added:"We found out that investing the skills of the QFIU human resources will best achieve the desired goals. Indeed, within one year an administrative team was formed and vested with suitable competencies. This team has succeeded in setting the general concept of the strategic plan, and subsequently submitting an operational plan for the First Year to adequately implement the strategic objectives, which clearly reflect the Will of young talented people keen to achieve career development.

On the other hand, the Guest of Honor Dr. / Saleh Mohammad Al Nabet, Secretary General of the General Secretariat for Development Planning emphasized that the objectives of Qatar National Vision 2030 and the goals, plans and initiatives of the National Development Strategy 2011 - 2016 limit automatically the unfavorable and corrupted financial transactions, pointing out that both support the efforts of combating money laundering.

Dr. Saleh added that the Strategy will provide an active production environment and a sound labor market where equal opportunities and transparent transactions prevail, indicating that there are three interrelated goals of this strategy that are directly related to the economy and the Strategy aims at achieving them.

He also noted that the practice of money laundering activities do not only affect the financial and trade sectors, but also encompass wider economic, social and development sectors and the sustainable development desired for Qatar is based on the principles of efficiency and economy, and on strong code of ethics.


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AML Laws

Law No.(4) of 2010, Combating Money Laundering and Terrorism Financing.
Law No.(3) of 2004, Combatting Terrorism.
Law No.(11) of 2004, Penal Code Of Qatar.
Law No.(23) of 2004, Code Of Criminal Procedures.

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