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15th Plenary meeting of the MENA Financial Action Task Force “MENAFATF” 29/Apr/2012

15th Plenary meeting of the MENA Financial Action Task Force “MENAFATF”

A delegation from Qatar Financial Information Unit (QFIU) and the National Anti Money Laundering and Terrorism Financing Committee (NAMLC) participated in the 15th Plenary meeting of the “MENAFATF” held in the Kingdom of Saudi Arabia from 26 to 29 April 2012.

During the meeting the MENAFATF welcomed the significant progress made by the State of Qatar in its efforts to combat money laundering and terrorism financing, and commended the national competent authorities for their endeavors in effectively implementing the AML/CFT regime by virtue of Law No. (4) of 2010, underpinned by the guidelines and controls of the supervisory authorities. At the plenary, Qatar’s achievements were further acknowledged by MENAFATF who approved Qatar moving to a regular two-year reporting cycle for its anti-money laundering and terrorism financing (“AML/CFT”) framework, making Qatar the first country in the region to undergo this process and be recognized by MENAFATF.

The meeting also tackled the actions and the recommendations of the Mutual Evaluation Working Group (MEWG) and the Technical Assistance and Typologies Working Group. On the margin of the plenary, the MENAFATF held the fifth FIUs Forum for its member countries. The forum aims at activating communication channels between FIUs to establish a long lasting regional outreach and cooperation that support the exchange of expertise and knowledge between FIUs and help them increase their effectiveness in combating money laundering and terrorism financing.

It is worth mentioning that the QFIU assumed for the second year the subcommittee presidency of the MENAFATF FIUs forum.

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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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