Regulatory Alerts2019-01-01
Added · Updated
Law No. (20) of 2019 Issuing the Law on Combating Money Laundering and the Financing of Terrorism
Law No. 20 of 2019 repeals the previous 2010 anti-money laundering law and establishes a new legal framework for combating money laundering and terrorist financing in Qatar. It defines specific offenses, including money laundering and terrorist financing, and mandates that financial institutions and designated non-financial businesses and professions implement risk-based policies, conduct customer due diligence, and maintain records. The law also outlines the roles of regulatory authorities and sets a six-month compliance transition period for affected entities.