Overview

The legislative and legal framework of the state of Qatar in the area of anti-money laundering and combating financing of terrorism has been completed by issuing the following laws:

A. Law No. 28 of the Year 2002 on money laundering (promulgated on 10/09/2002).

B. Decree Law No.21 of the Year 2003 amending some provisions of the Law No.28 of the Year 2002 (promulgated on 05/11/2003).

C. Law No. 3 of the Year 2004 on combating terrorism (promulgated on 16/02/2004).

The money laundering law includes all the basic provisions regarding this issue such as; criminalizing the act, assigning duties for the financial institutions, granting authority for regulators, establishing national committee for anti-money laundering and combating terrorism financing, and setting sanctions to be imposed on perpetrators of such crime and others.

Law No.3 of the Year 2004, Article 4 includes the provisions of criminalizing terrorism financing and imposing sanctions on perpetrators of such crime.

II. QCB Policies and Measures

Qatar Central Bank has a leading role in responding to the international requirements of anti-money laundering.

QCB issued circulars No.91 of the Year 1994 and No.33 of the Year 1999 consistent with the international recent developments in this field. Amendments to those circulars were updated and included in the QCB regulations to banks up to March 2005.

Notably, measures and policies required to be adopted by financial institutions are included in QCB regulations. Moreover, such regulations comprise guidelines for the detection and prevention of crime and its types, and the 40 + 9 recommendations of the Financial Action Task Force on money laundering and terrorism financing (FATF).

III. The National Anti-Money Laundering and Combating Terrorism Financing Committee

In accordance with Article No. (8) Of the Law No. 28 of the Year 2002, amended by the decree Law No. 21 of the Year 2003, a national anti- money laundering and combating terrorism financing committee was established on the 9th of November, 2002 chaired by QCB deputy governor and membership of:

- Two representatives of Ministry of Interior, one of them to be appointed as a vice chairman and coordinator of the committee.

- Representative of ministries of; Finance, Economy and Commerce, Justice, and, Civil Service Affairs and Housing, Qatar Central Bank, and Customs and Ports General Authority.

- Representative of State Security Bureau and representative of Financial Information Unit (FIU) were later appointed in the committee.

The national committee's functions and responsibilities were assigned as:

- To adopt plans and programs for anti-money laundering and combating terrorism financing and relevant the implementation process.

- To follow up coordination with the monitoring authorities, so as to implement the legislations and agreements related to anti-money laundering and combating terrorism financing.

- To follow up the international developments in this regard and to suggest the required measures.

- To issue reports, statistics, and information necessary for anti-money laundering and combating terrorism financing.

IV. Foreign Relations

Foreign relations are represented in the following:

- Accession of the state of Qatar to the UN Convention against Illicit Trafficking of Drugs and Psychotropic Substances endorsed in Vienna on 20/12/1988.

- Accession of the state of Qatar to the Arab Convention for Combating Terrorism Finance (CTF) in 1998.

- Accession to the UN Convention on suppression of international terrorism in 1999 is still underway.

- Accession to the FATF and CTF through the secretariat of the GCC, as a regional organization.

- Accession to the financial action task force on money laundering and terrorism financing for Middle East, and North Africa area (MENA FATF) in April 2005, as an establishing country.

- Accession to the financial intelligence units of EGMONT Group on 29/06/2005.

Welcoming Statement

Instructions regarding Combating Money Laundering and the Financing of Terrorism