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QFIUís Plan to Introduce the New AML/CFT Law 06/Jun/2010

QFIUís Plan to Introduce the New AML/CFT Law

In its endeavors to ensure the effective enforcement of the new Law No.(4) of 2010 on Combating Money Laundering and Terrorism Financing, the FIU held many induction meetings with the following parties:

- Meeting with the Minister of Justice, H.E Mr. Hassan bin Abdulla Al Ghanim, on 23/5, to discuss the latest updates related to the new AML/ CFT Law.

- Meeting with representatives from the Ministry of Social Affairs and Charity Organizations on 25/5.

- Meeting with representatives from the General Directorate of Customs and Banks’ Compliance Officers on 26/5.

- Meeting with AML/ CFT compliance officers from Exchange Houses, Investment Companies and Finance Companies on 27/5.

- Induction meeting on 31/5, to introduce the new law related provisions, requirements and obligations.

- Field visits by Public Prosecution Officials for two weeks, starting 23/5.

The FIU held these events according to a plan aiming at:

- Ensuring comprehensive understanding of the provisions of Law, so that all concerned parties become aware of their law related obligations and requirements, and implement them appropriately.

- Reviewing and updating regulatory instructions and controls by the competent supervisory authorities according to the provisions of the new Law, and taking necessary means to verify the proper compliance with these instructions and controls by their affiliates.

- Implementing effectively the action plan of the follow up report

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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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