(MENAFN- The Peninsula)
Joel Johnson
|
The Peninsula
Doha: Qatar Central bank (QCB) kicked off the ninth edition of the Middle East and North Africa financial Action Task Force (FATF) Applications and Capacity Building workshop in Doha on efforts to combat money laundering issues.
The inaugural event was attended by the Assistant Governor of the Qatar Central Bank for Supervision, H E Hamad Ahmed Al Mulla, MENAFATF Executive Secretary, Suliman Al Jabrin, Secretary of the National Committee for Combating Money Laundering and terrorist Financing in Qatar and Head of the Technical Assistance and Applications Working Group in MENAFATF, Essa Al Hardan, along with other officials yesterday at The Ritz-Carlton.
Addressing the gathering during his opening speech, Hamad Ahmed Al Mulla stated“Our countries face complex patterns of money laundering and terrorist financing, which undermines the government's efforts to combat them and poses challenges that require applications to understand them.
The workshop that begins today (October 7) is a good opportunity to exchange experiences to understand better the different and advanced methods used for money laundering, financing terrorism, and financing proliferation, and to provide decision-makers and policy experts with practical information to develop strategies to combat these challenges and to be able to address them efficiently.”
He noted that the workshop aims at enhancing the safety and security of global financial institutes.“We look forward to this gathering achieving success and success, and to make an effective contribution to enhancing interaction between professionals from various institutions to ensure the optimal exchange of experiences,” Al Mulla said.
On the other hand, Essa Al Hardan emphasised Qatar's stance and role of applications and studying trends and patterns in raising the system's effectiveness against money laundering, terrorist financing, and financing the spread of arms by organising workshops such as the MENAFATF.
Al Hardan also stressed that this workshop is anticipated to bring together experts from financial information units, law enforcement, and financial and non-financial regulatory bodies to exchange expertise and experiences and enhance awareness of the necessity of national cooperation.
He accentuated that the conference will also delve into the significance of technology and data analysis systems in detecting money laundering and terrorist financing, and the function of civil society in developing the effectiveness of parallel financial investigations in order to reinforce capabilities.
“The National Committee to Combat Money Laundering and Terrorist Financing attaches utmost importance to this aspect within the framework of implementing the measures recommended in Direct Outcome 5 of the Mutual Evaluation Report of the State of Qatar issued in May 2023 and its continuing work to harmonize its legislation with the latest amendments introduced to Recommendations 24 and 25 of the recommendations,” he added.
The recent edition of the conference was held in December 2023 in Nouakchott, Mauritania.
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