Qatar and Cuba explore series in style GULF TIMES

1 business | Page 1 SPORT | Page 1. Australia hungry to finish Qatar and Cuba explore off Ashes prospects of investment series in in agricultural production style pu bl TA 978. Q since GULF TIMES . is A 1. he R. d in THURSDAY Vol. XXXX No. 11303. September 12, 2019. Muharram 13, 1441 AH. www. 2 Riyals New law bolsters Qatar Qatar , Gambia sign agreements, role in combating MoUs to strengthen relations money laundering zAmir issues Law No 20 of 2019 to issue a law on combating money laundering and terrorism financing QNA on combating money laundering and the new law as the product of the Doha terrorism nancing would undoubt- continuous co-ordination and efforts edly strengthen its position in this exerted by the members of the Na- regard.

2 Tional Anti-Money Laundering and H. is Highness the Amir Sheikh The new law sets out the legal re- Combating the Financing of Terror- Tamim bin Hamad al-Thani quirements binding on the business ism Committee and thanked them. yesterday issued Law No 20 and nancial sectors related to com- In order to effectively combat of 2019 to issue a law on combating bating money laundering and terrorism money laundering and terrorism - money laundering and terrorism - nancing, including non-pro t organ- nancing, a strict legal and regulatory nancing. isations and money transfer services. framework should be established to The law is effective starting from The new law sets severe penal- de ne the powers and responsibili- the day following the date of its pub- ties for those violating its provisions, ties of ministries and government His Highness the Amir Sheikh Tamim bin Hamad al-Thani holding talks with Gambian President Adama Barrow at the Amiri lication in the official gazette.

3 Such as nancial sanctions against agencies, he said, pointing out that Diwan yesterday. Qatar Central Bank (QCB) said the erring nancial institutions, speci c the new law, along with other legisla- new law will replace Law No 4 of 2010 non- nancial businesses and pro- tions, is an effective tool to strength- QNA. for combating money laundering and fessions or non-pro t organisations, en Qatar 's role in combating money Doha terrorism nancing. and imprisonment for every person laundering and terrorist nancing. The legislation re ects Qatar 's con- convicted of a crime of terrorism - HE Sheikh Mohamed bin Hamad Q. tinued commitment to combating nancing.

4 The new law also strength- al-Thani, the QCB Deputy Governor atar and Gambia have strength- money laundering and terrorism - ens measures related to international and chairman of the National Anti- ened bilateral relations with the nancing in all its forms, in accordance co-operation, where the widest pos- Money Laundering and Combating signing of agreements and mem- with the latest international standards sible co-operation and exchange of the Financing of Terrorism Commit- orandums of understanding (MoUs) yes- adopted by major international or- nancial information will be provided tee, said the exchange of nancial terday in Doha, in the presence of His ganisations including Financial Action to the foreign counterparts.

5 Information relevant to current and Highness the Amir Sheikh Tamim bin Task Force (FATF), QCB explained. The QCB pointed out that the new potential threats is a key element in Hamad al-Thani and the visiting Gam- The law highlights Qatar 's leading law is an extension of the stringent the international community's efforts bian President Adama Barrow. and in uential role in the region in legislative and regulatory initiatives to address money laundering and ter- The two leaders held a session of of- setting standards in its legal and regu- issued by Qatar since 2002. In 2014, a rorist nancing crimes. cial talks at the Amiri Diwan.

6 They latory framework for combating mon- speci c law was issued to regulate the In this context, Qatar affirms its discussed bilateral relations and as- ey laundering and terrorism nancing. charitable work carried out by chari- commitment to international co-op- pects of developing co-operation in The new law is the result of the ties and institutions in the country, eration and the exchange of nancial various elds, especially in agriculture, efforts exerted by the QCB, in co- and in the same year another law was information with its international tourism and infrastructure. In addi- operation with the ministries and issued to combat cybercrime, with partners to ensure the protection of tion, they discussed a number of issues other government agencies that are the aim of preventing the use of social its nancial systems and global nan- of common concern.

7 Members of the National Anti-Mon- media platforms to promote, organise cial system from money laundering Subsequently, His Highness the Amir ey Laundering and Combating the or nance terrorism. and terrorist nancing, he said. and the Gambian president witnessed Financing of Terrorism Committee, In 2017, a legal framework on local Sheikh Mohamed explained that the signing of two agreements. One was His Highness the Amir Sheikh Tamim bin Hamad al-Thani with Gambian President which is responsible for protect- classi cations was established to iden- the promulgation of the new law is on mutual administrative assistance for Adama Barrow who was accorded an official reception upon his arrival at the ing Qatar 's nancial system from the tify persons and entities involved in the part of Qatar 's ongoing efforts to es- the optimal application of the customs Amiri Diwan.

8 Risks of money laundering and terror- nancing of terrorism. The new law tablish an effective legal and regula- law and for the suppression, investiga- ism nancing. will strengthen Qatar 's leading role re- tory framework for government and tion and control of customs violations, of Justice in both countries. A number wan upon his arrival. His Highness the The QCB said that Qatar is interna- gionally and its international commit- private institutions in the country, and the other was on mutual inclusion of ministers from Qatar and members Amir also hosted a luncheon banquet tionally recognised for its continuous ment to combating money laundering each within its jurisdiction, to take of land in the satellite service area.

9 Of the official delegation accompany- in honour of President Barrow and the efforts to combat money laundering and terrorist nancing, QCB asserted. the necessary measures to combat The MoUs were for co-operation in ing the Gambian president attended. delegation accompanying him, at the and terrorism nancing crimes and HE the QCB Governor Sheikh Ab- money laundering and terrorist - the elds of youth and sports, and legal President Barrow was earlier accord- Amiri Diwan. A number of ministers that the promulgation of the new law dullah bin Saud al-Thani described nancing. To Page 10 co-operation between the Ministries ed an official reception at the Amiri Di- from Qatar were present.

10 Page 24. In brief South Sudan peace talks Qatar | Official Trump doesn't rule out lifting Iran sanctions Amir condoles with with Trump, insisting that Washing- cron in a phone call yesterday that Iraq president and PM AFP. ton must lift the sanctions it has im- talks with the United States would Washington His Highness the Amir Sheikh Tamim posed on Iran. be meaningless unless it lifts sanc- bin Hamad al-Thani and His Highness The Americans must understand tions. P. the Deputy Amir Sheikh Abdullah resident Donald Trump yes- that bellicosity and warmongering The French leader has been spear- bin Hamad al-Thani sent yesterday terday warned Iran against don't work in their favour.