HE Head of the Financial Information Unit Sheikh Ahmed bin Eid Al-Thani stressed the strengthening of the system for combating financial crimes and financing terrorism, through partnership between the public and private sectors, praising Qatar’s experience in cooperation between the two sectors.
This came during a panel discussion on partnership between the public and private sectors to combat financial crime, which was hosted by the Qatari Financial Information Unit.
Sheikh Ahmed bin Eid stressed the will and support provided by the concerned authorities in the State of Qatar for progress in the field of combating financial crimes and financing terrorism, pointing to the forum launched by the Financial Information Unit in 2018, which represented a platform for dialogue and cooperation between the public and private sectors. Ms. Kzulisil Khanele, Head of the Egmont Group of Financial Intelligence Units and Director of the Financial Intelligence Center in South Africa, praised the steps taken by the State of Qatar in the field of combating financial crimes, money laundering and terrorist financing.
The partnership between the public and private sectors to combat financial crime described the Qatari experience as very good, saying, “The evaluators from the Financial Action Task Force have stood by Qatar’s performance, and the results achieved have been very good. What I can do now is encourage the Qatari side to maintain the achievement and do more.
She added that Qatar was able to achieve tangible progress and successes in building a partnership between the public and private sectors to combat financial crime.
She emphasized the ability of the two sectors to work together and enhance information exchange and sharing so that information reaches law enforcement agencies, who in turn will be able to successfully carry out investigations, prosecutions and recover assets.
Mr. Salem Al-Kuwari, Director of the Anti-Financial Crimes Department at the Qatar Central Bank, spoke about the bank’s keenness to achieve the highest levels of cooperation between the public and private sectors, and for the financial institutions under its supervision to implement the instructions issued by it with the aim of enhancing reporting processes and submitting high-quality suspicion reports to the unit. .
He stressed the bank’s keenness to achieve the highest levels of cooperation between the public and private sectors, and for the financial institutions under its supervision to implement the instructions issued by it with the aim of enhancing reporting processes and submitting high-quality suspicion reports to the unit.
For his part, Mr. Riyad Al Fayyash, Head of Financial Crimes and Governance at Qatar National Bank, spoke about the benefits and risks of this partnership from the perspective of the private sector.
The high-profile event brought together more than 100 participants from the public and private sectors, and was marked by the presence of the Egmont Group Chairman of Financial Intelligence Units and Director of the South African Financial Intelligence Center, Ms. Kzulisil Khaneleh and the Executive Secretary of the Egmont Group, Mr. Jerome Beaumont.
This panel discussion is an important initiative to strengthen partnerships between the public and private sectors, and serves as a forum for the authorities concerned with combating money laundering and terrorist financing, and for representatives of the Qatari Financial Information Unit, national supervisory authorities and representatives of the private sector, to discuss and exchange experiences on issues of common interest related to money laundering and terrorist financing, In particular, studying the relations between the public and private sectors in terms of access to information and financial investigations to protect the local and global economy and the financial system, identifying best practices and challenges in the field of information exchange, and proposing measures to develop effective partnerships between the public and private sectors.
The Qatari Financial Information Unit praised the positive and effective participation of the attendees and invited parties, and the continuation of this constructive and fruitful cooperation to support the AML/CFT system. A brief report on this panel discussion will be prepared by the unit and distributed to the participants.
