Qatar law 20-2019 on combating money laundering and terrorism financing.

Qatar Central Bank (QCB) announced the issuance of Law No. 20 of 2019 on combating money laundering and terrorism financing to replace combating money laundering and terrorism financing law promulgated by Law No. 4 of 2010.

The new law is the result of the efforts exerted by the QCB

Amir H H Sheikh Tamim bin Hamad Al Thani issued yesterday Law No. 20 of 2019, a law on combating money laundering and terrorism financing. 

The law is effective starting from the day following the date of its publication in the official gazette.

Qatar Central Bank (QCB) announced yesterday the issuance of Law No. 20 of 2019 on combating money laundering and terrorism financing to replace combating money laundering and terrorism financing law promulgated by Law No. 4 of 2010.

The QCB said the new law reflects the State of Qatar’s continued commitment to combating money laundering and terrorism financing in all its forms, in accordance with the latest international standards adopted by major international organisations including Financial Action Task Force (FATF). The law also highlights Qatar’s leading and influential role in the region in setting standards in its legal and regulatory framework for combating money laundering and terrorism financing.

The new law is the result of the efforts exerted by the QCB, in cooperation with the ministries and other government agencies that are members of the National Anti-Money Laundering and Combating the Financing of Terrorism Committee, which is responsible for protecting Qatar’s financial system from the risks of money laundering and terrorism financing…