Qatar Contributes to IMF Anti-Laundering Program

Qatar - Monday, May 25, 2009

The Qatari Council of Ministers approved on May 24, 2009 a memorandum of understanding with the International Monetary Fund (IMF) with regard to the technical assistance provided by the IMF to Qatar in the area of combating money laundering and terrorism financing. The Qatari cabinet also agreed to contribute $2 million to the IMF trust fund for combating money laundering and terrorism financing which provides technical assistance to member states in that field. Qatar has established a “Financial Information Unit” to deal with information about suspicious transactions it receives from all state agencies. The decision of establishing this unit made it mandatory for all government and private agencies and companies to provide this “unit” by any required information or documents.
Source: Al-Sharq - Qatar.