Qatar Financial Information Unit (QFIU) held a meeting on "AML/CFT (International Standards and Qatari Experience) at its headquarters at the National Financial Crime Centre, in cooperation with the Regulatory Authority for charitable activities and in participation with the National Anti-Money Laundering and Terrorism Financing Committee (NAMLC).
QFIU said yesterday that the meeting was one of series of meetings held between AML/CFT national authorities and representatives of the private sector to raise awareness and consolidate mutual cooperation, and tackled the recent developments related to non-profit organizations, the associated international obligations, and the major risks that are currently faced by Charities, particularly with regard to combating terrorism financing and to the roles that charities should foster to counter these risks.
Head of QFIU HE Sheikh Ahmed bin Eid Al-Thani inaugurated the meeting by welcoming the participants and praising their continuous support to QFIU and to its pivotal role in combating money laundering and terrorism financing, and stressed on the importance of the partnership between the QFIU and the charities, knowing their significant role in supporting charitable and humanitarian activities in the State of Qatar and worldwide.
Besides, the representative of the National Anti-Money Laundering and Terrorism Financing Committee (NAMLC) highlighted NAMLC’s role in developing relevant national strategies, its powers and its organizational structure, in addition to the important issues that NAMLC is currently implementing in coordination with all national partners, and stressed the significant role of charities, being one of the main pillars in the fight against money laundering and terrorism financing system.
On the other hand, representatives of QFIU actively participated in the meeting by delivering presentations and worksheets on the international standards, with a particular focus on the recommendations related to organizing the work of non-profit organizations, defining the proper ways to foster cooperation between the charities and the QFIU, and the general legal framework governing the work in this sector.
The representative of "RACA" underlined the convenient time to hold this meeting, especially with the many current challenges to be overcome, and emphasized the importance of joining efforts between the public and private sectors and the active role of the Qatari charities in supporting humanitarian activities and commended the continued cooperation among the RACA , the charities and the QFIU in fighting the phenomenon of terrorism financing.
