Qatar has been doing a lot to ensure that money from the country is not laundered and used for the funding of terror.
A few months back, it signed a Memorandum of Understanding with the USA to ensure this does not happen. And now, Qatar’s cabinet has given its formal approval to a draft law on Anti-Money Laundering and Countering the Financing of Terrorism, reported Gulf Times.
The draft law will replace Law No 4 of 2010, in light of modernisation of international standards on the same. It will enable financial institutions and competent authorities to deal effectively with financial crimes, thus protecting the economic system from exploitation by criminal elements.
Qatar’s Prime Minister and Interior Minister HE Sheikh Abdullah bin Nasser bin Khalifa Al Thani chaired the Cabinet's regular meeting at the Amiri Diwan yesterday.
The Cabinet also approved a draft law on preventive measures against animal-originated infectious and epidemiological diseases in the GCC countries. The Cabinet considered several other issues took appropriate decisions.
