Regulatory Alerts2019-01-01
Law No. (20) of 2019 on the Promulgation of Anti-Money Laundering and Terrorism Financing Law
Issued by Amir Tamim bin Hamad Al Thani of Qatar in September 2019, Law No. 20 establishes a comprehensive legal framework for combating money laundering and terrorism financing, replacing prior legislation and unifying regulatory standards. The law defines key terms, independently criminalizes money and terrorism financing offenses, and mandates a risk-based approach for financial institutions and specified non-financial businesses and professions. It requires these entities to implement robust due diligence, maintain accurate records, freeze targeted assets, and align their operations with national risk assessments within a six-month compliance window.
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