Financial Crime World

Qatar’s Financial Crimes Fighting Agencies: QFIU and NAMLC

In the pursuit of combating money laundering and terrorist financing in Qatar, the government has established two pivotal regulatory bodies: The Qatar Financial Information Unit (QFIU) and the National Anti-Money Laundering and Terrorist Financing Committee (NAMLC).

The Role of QFIU

The QFIU, a specialized government agency, concentrates on financial intelligence efforts to identify and report suspicious financial transactions. This entity, as part of Qatar’s National Anti-Money Laundering and Counter-Terrorist Financing (AML/CFT) framework, collaborates with various financial institutions to receive and analyze reports of potential financial crimes. These financial institutions encompass:

  • Banks
  • Investment companies
  • Insurers
  • Other financial sectors

Similar to other financial intelligence units globally, the QFIU analyzes these reports and disseminates relevant data to law enforcement agencies for further investigation and action.

QFIU’s Powerful Support Network

The QFIU benefits from a robust support network comprised of the following entities:

  • Qatar Central Bank
  • Qatar Financial Markets Authority
  • Qatar Financial Centre Authority
  • State Security Bureau
  • Ministry of Interior
  • Criminal Investigation Department, Section of Fighting Economic Crimes
  • Ministry of Justice
  • Ministry of Commerce and Industry
  • Public Prosecution
  • General Directorate of Customs
  • Regulatory Authority for Charitable Activities
  • Ministry of Social Affairs

The Regulatory Authority: Leading Member of NAMLC

The Regulatory Authority, a critical member of NAMLC, works closely with Qatar’s financial regulators, other state authorities, and international organizations to implement the State AML/CFT Law No. 20 of 2019. Based on Financial Action Task Force (FATF) standards, this legislation aims to prevent and suppress money laundering and terrorism financing activities within Qatar’s borders.

NAMLC’s initiatives

In collaboration with NAMLC, the Regulatory Authority plays a significant role in the following initiatives designed to identify and assess potential vulnerabilities and threats related to money laundering and terrorist financing:

  • Identifying and assessing risks associated with money laundering and terrorist financing
  • Developing and implementing policies and procedures for combating financial crimes
  • Providing training to financial institutions and relevant stakeholders on AML/CFT matters
  • Collaborating with international partners to enhance Qatar’s AML/CFT framework

Global Partnerships

NAMLC’s collaborative efforts extend beyond the domestic sphere, with the Regulatory Authority’s Chief Executive Officer serving as a Steering Committee member, overseeing these initiatives and ensuring the effective implementation of policies to combat financial crimes.


## References

- Qatar Financial Information Unit (QFIU), <https://www.qfiu.org.qa>
- National Anti-Money Laundering and Terrorist Financing Committee (NAMLC), <https://namlc.gov.qa>
- Qatar Financial Markets Authority, <https://qfma.org.qa>
- Financial Action Task Force (FATF), <https://www.fatf-gafi.org/>
- State of Qatar - Ministry of Economy and Commerce, State AML/CFT Law No. 20 of 2019 [PDF Document](https://namlc.gov.qa/wp-content/uploads/2020/06/law_no_20_of_2019_eng.pdf).