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Seminar on “Protecting the Integrity of Financial Systems" 07/Oct/2010

Seminar on “Protecting the Integrity of Financial Systems"

Under the patronage of Qatar’s National Anti-Money Laundering and Terrorism Financing Committee and in coordination with Frances’ National School for the Judiciary (École Nationale de la Magistrature) (ENM), a Seminar on “Protecting the Integrity of Financial Systems: Financial Governance and Judicial Responses to Financial Disorders” was held in Doha on 5 and 6 October 2010, stressing the role that the Judiciary could play for contributing to the economic and financial public order.

H.E Sheikh Ahmed Bin Eid Al Thani, Head of Qatar Financial Information Unit (QFIU), and Member of the National Anti Money laundering and Terrorism Financing Committee (NAMLC) inaugurated the Seminar on behalf of H.E Sheikh Fahad Bin Faisal Al Thani, Deputy Governor and Chairman of NAMLC.

The esteemed Judge Mr. Jean-François Thony, General Director of the National School for the Judiciary (ENM) shed light on the close cooperation between the State of Qatar and France, and the two Countries endeavors to address common issues and bring out the best in the necessity of regulating and protecting their financial sectors, following the global financial crisis that hit the world in 2008, and the economic and social disorder it has generated.

The Seminar was attended by Mr. Adel Hamad Al Qulish, Executive Secretary of the Middle East and North Africa Financial Action Task Force (MENAFATF), Mr. Abdel Hafiz Mansour, Secretary of the Special Investigation Commission (SIC) in Lebanon, Mr. Nadim Kyriakos, the representative of the International Monetary Fund (IMF), Mr. Nasser Al Shaibi, CEO of Qatar Financial Markets Authority (QFMA), the French Chargé d'Affaires and a pool of experts and concerned national authorities.


On this occasion, a certain number of issues were tackled to come up with the following recommendations, which were adopted by the participants throughout this seminar:

1. The importance of compliance with the principles of economic and financial public order is a crucial element for financial stability.
This public order is enforced at both national and international levels; these two components are compatible and complementary.

2. The Regulations of the Financial Sector and DNFBPs are essential and must be monitored constantly and adapted appropriately.

3. The proper functioning of financial markets must be ensured, in compliance with the principles of competition, transparency and protection of the investors.

4. The judicial authorities play an essential role in ensuring the compliance with the principles of good governance; and must be both efficient and competent.

5. The Regulatory Authorities, within their specific field of expertise, are a crucial pillar in the efforts of ensuring compliance with the laws and regulations.

6. For the conduct of financial investigations, the principles of objectivity and transparency must be observed, as well as the rights and duties of the parties concerned.

7. International co-operation, both administrative and Judicial, must be fostered, given the increased internationalization of transactions.

8. Training of legal and judicial governance experts must be strengthened, given the increasing complexity of economic and financial activities.

9. Contacts and exchanges between financial professionals and judicial authorities must be established on ongoing basis, in order to enhance mutual knowledge and compliance with the principles of economic and financial public order.

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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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