Qatar adopts executive regulations to combat money laundering, terrorism financing

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Qatar Central Bank (QCB) has taken another significant step towards combating money laundering and terrorism financing as it on Thursday, adopted a new set of executive regulations for Law No. (20), which is the Anti-Money Laundering and Combating the Financing of Terrorism issued on September 11, 2019. The announcement made by the bank has again emphasized its strong commitment and unwavering dedication to establish international standards for fighting all kinds of financial crimes.

His Excellency (H.E.) QCB Governor Sheikh Abdullah bin Saud Al Thani has stressed that addressing the issue of money laundering and terrorist financing requires a strict regulatory framework, where it reflects the powers and responsibilities of relevant agencies and ministries as related to combating money laundering and terrorism financing. He further stated that the new executive regulations have been achieved as a result of the cooperation and collaborative efforts of QCB, ministries and government agencies responsible for fighting the financial crimes towards developing a legal and effective framework that significantly control money laundering and terrorist financing.