MENAFATF Commends Qatar for Its Progress in Combating Money Laundering, Terrorist Financing

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 the State of Qatar in combating money laundering and terrorist financing.

MENAFATF members congratulated the State of 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, HE Special Envoy of the Minister of Foreign Affairs for Counterterrorism and Mediation in Conflict Resolution, head of the Qatari delegation participating in the meeting Dr. Mutlaq bin Majed Al Qahtani, expressed in a speech during the meeting, the State of Qatar’s thanks and appreciation to the evaluation team, countries, observers and all contributors who participated in this process.

His Excellency also renewed the State of Qatar’s commitment to combating money laundering, financing terrorism and financing proliferation, pointing out that the State of Qatar 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 the State of 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.

HE Special Envoy pointed out that the State of Qatar has carried out strategic, organizational 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.

He stressed that all these efforts and results received great political support from the highest authorities in the country, indicating that the high-level political commitment urged all state agencies to carry out actions and activities that would strengthen the control system, adding that the state harnessed all the resources required by this stage.

HE Special Envoy of the Minister of Foreign Affairs for Counterterrorism and Mediation in Conflict Resolution stressed that the work of the State of Qatar to improve the AML/CFT system is a continuous work and will not stop there, adding that the ministry is fully aware of the areas and challenges that require the necessary improvements, and the State of Qatar continues to strengthening its system, strengthening national and international cooperation, and contributing to regional and international efforts to combat illicit financing crimes.

Source: Qatar News Agency