MENAFATF Lauds Qatar's Progress In Combating Money Laundering
Date
5/26/2023 2:13:20 AM
(MENAFN- The Peninsula) QNA
Doha, Qatar: Middle East and North Africa financial Action Task Force (MENAFATF) adopted the Mutual Evaluation Report for the State of Qatar, which reflects the level of compliance and effectiveness of the anti-money laundering and counter-terrorist financing (AML/CFT) system with the standards of the Financial Action Task Force (FATF).
During its 36th general meeting, which is being held in Manama, the MENAFATF commended the progress made by Qatar in combating money laundering and terrorist financing.
MENAFATF members congratulated Qatar on its positive results, affirming that Qatar has a strong legal and institutional framework and that the control system has been effective in many areas.
For his part, Special Envoy of the Minister of Foreign Affairs for Counterterrorism and Mediation in Conflict Resolution, head of the Qatari delegation participating in the meeting H E Dr. Mutlaq bin Majed Al Qahtani, expressed in a speech during the meeting, Qatar's thanks and appreciation to the evaluation team, countries, observers and all contributors who participated in this process.
He also renewed Qatar's commitment to combating money laundering, financing terrorism and financing proliferation, pointing out that the country has given top priority to protecting the integrity of the Qatari and global financial system and combating all types of financial crimes.
He added that Qatar has made great efforts to ensure the effective implementation of a strong framework to combat money laundering and terrorist financing, in line with the standards of the FATF.
The Special Envoy pointed out that Qatar has carried out strategic, organisational and operational reforms in the past ten years to enhance the implementation and alignment of the AML/CFT framework with the standards of the FATF, and in accordance with international best practices.
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