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QFIU Strengthens International Efforts to Combat Money Laundering and Terrorism Financing 28/Apr/2013

QFIU Strengthens International Efforts to Combat Money Laundering and Terrorism Financing

Under the patronage of His Excellency Sheikh Fahad Bin Faisal Al Thani, Deputy Governor Chairman of the National Anti Money Laundering and Terrorism Financing Committee (NAMLC), the QFIU organized the first joint meeting of Egmont Group and FSRBs [FATF Style Regional Bodies], during 16 -17 /04/2013 at Sharq Village and Spa Hotel.

This meeting aimed at discussing the possibility of strengthening cooperation between regional and international bodies in combating money laundering and terrorism financing, and enhancing the capacities of the Financial Intelligence Units (FIUs) that play a key role in the AML/CFT regime, whether at the national or international level. As the FIUsí work is technical and specialized, and their main operational functions consist of receiving, analyzing and disseminating Suspicious Transaction Reports (STRs), the meeting focused on putting in place strategies that will build stronger relationships among FIUs, considering their distribution at the regional level and supporting them to join the Egmont Group.
It is worth mentioning that this is the first meeting of its kind that brings together AML/CFT Regional Bodies with the Egmont Group, which proves the international endeavors to strengthen cooperation, and reflects the significant position of the State of Qatar at the regional and international levels.

In this context, the Middle East & North Africa Financial Action Task Force (MENAFATF) represented by its Executive Secretary, Mr. Adel Al Qulish, is the Regional Body involved in the Middle East and North Africa, including the GCC Countries. It helps Member States enhance their compliance with the international requirements and Financial Action Task Force "FATF" recommendations, through mutual evaluations, technical assistance, trainings, etc. within the framework of coordination among the Member States in the region.

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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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