Qatar partners up with American firm to combat terror financing

After the start of the illegal siege of Qatar, Qatar took several steps forward to cut the sources of terror funding and combat terror.

One of the key steps the country took was by signing a ground-breaking MoU with the USA to eradicate terror financing links.   

And now, Qatar’s National Anti-Money Laundering and Terrorism Financing Committee (NAMLC) has engaged with the US-based Financial Integrity Network (FIN) as its principal strategic adviser for enhancing the country’s  anti-money laundering and counter-terrorist financing (AML/CFT) system, reported Gulf Times.

The arrangement will help ensure Qatar meets the heightened and evolving global standards and expectations for financial integrity.

Under the new partnership, FIN will collaborate closely with NAMLC and its member authorities in reviewing the implementation and effectiveness of Qatar’s AML/CFT legal framework and international commitments, and ensuring their alignment with global standards, including those established by the Financial Action Task Force (FATF), according to The Peninsula.

HE Sheikh Fahad Faisal AI Thani, Chairman of NAMLC and Qatar Central Bank (QCB) Deputy Governor, and FIN representative Daniel L Glaser jointly announced the engagement in Doha yesterday.

“Qatar has had a long-standing, open and productive partnership with the international community in combating money laundering and the financing of terrorism. We’re delighted to partner with FIN to build on our successes to date and ensure that Qatar’s AML/CFT regime continue to be world class,” said Sheikh Fahad.