Our AML/CFT framework is underpinned by the AML/CFT State Law No. (20) of 2019. This law defines money laundering offences, assigns duties and obligations to financial institutions and DNFBPs, and describes the duties of the National Anti-Money Laundering and Terrorism Financing Committee (NAMLC), which was established in 2010.
The AML/CFT Law also makes it a criminal offence to provide financial or logistical support to terrorist groups or to raise money for terrorist crimes in Qatar, and imposes penalties including jail sentences and fines. The law is based on the standards issued by the International AML/CFT policy-making body, the Financial Action Task Force (FATF).
The Regulatory Authority has issued two Rulebooks that regulate AML/CFT within the Qatar Financial Centre. The Anti-Money Laundering and Combating the Financing of Terrorism Rules 2019 and the Anti-Money Laundering and Combating the Financing of Terrorism (General Insurance) Rules 2019 are collectively referred to as the AML/CTF Rules. These rules apply to all authorised firms and DNFBPs, including financial services firms and other professional services firms such as lawyers, auditors, accountants and trust service providers, and were designed to be in accordance with the AML/CFT Law and aligned to global regulatory recommendations and standards.
These Qatari criminal laws also apply in the QFC in regard to AML/CFT:
Law No. (27) of 2019 Promulgating the Law on Combating Terrorism
Implementing Regulations of 2020 (Targeted Financial Sanctions)
Law No. (11) of 2004 (Penal Code of Qatar)
Law No. (6) 2020 amending Criminal Procedures Code Law No. (23) 2004