The Ministry of Justice and the Regulatory Authority for Charitable Activities (RACA) have signed a memorandum of understanding (MoU), under which the two parties shall act in accordance with the provisions of Law No 4 of 2010 on combating money laundering and the terrorism financing, and other relevant laws in the competence of each party with the powers and functions specified in the law.
These competences and tasks constitute the basis of the joint mechanism of action between the two parties in the field of co-ordination and exchange of information related to combating money laundering and terrorism funding between the Ministry of Justice and RACA.
On this occasion, Undersecretary at the Ministry of Justice Sultan bin Abdullah al-Suwaidi explained that the provisions of this memorandum are only a translation and confirmation of Qatar’s firm approach to combating money laundering and terrorism funding in accordance with the provisions of Law No 4
For his part, RACA Director General Ibrahim Abdullah al-Duhaimi said that the joint working mechanism will contribute to the consolidation of efforts to combat money laundering and terrorism funding.
This mechanism will contribute to enhancing co-operation between the two parties through understanding, analysing and evaluating risks, and exchanging experiences related to money laundering and terrorism funding. (QNA)