Doha, Qatar: The Ministry of Commerce and Industry (MOCI) organized a dialogue workshop on trust and company service providers to raise awareness of requirements for combating money laundering, terrorist financing, and proliferation financing.
In a statement Monday, MOCI said the forum reflected its commitment to strengthening cooperation with these service providers, raising awareness of anti-money laundering and counterterrorism financing requirements, and addressing key challenges facing the sector and practical ways to resolve them.
It stressed that trust and company service providers are a key component of the national framework for combating money laundering and terrorist financing because of their role in establishing and managing legal structures and ownership arrangements.
Scrupulous compliance with regulatory and supervisory requirements is therefore essential to bolstering transparency and safeguarding the national economy. The statement also underscored the importance of sharing expertise to develop solutions that foster transparency and improve sector efficiency, particularly as Qatar prepares for its upcoming mutual evaluation.
MOCI added that the forum aimed to promote economic integrity, protect the financial system from financial crimes, and deepen regulated entities' understanding of requirements for combating money laundering, terrorist financing, and proliferation financing.
It also sought to identify practical challenges and gaps uncovered through supervisory activities, address them collectively, and strengthen compliance and the sector's effectiveness.
These efforts support Qatar's broader drive to counter money laundering and terrorist financing risks, achieve sustainable development, and advance the Qatar National Vision's goal of building a robust, competitive, and transparent economy.
