Cabinet Nod for Draft Law Against Money Laundering, Terror Funding

The Cabinet, chaired by HE Sheikh Abdullah bin Nasser bin Khalifa Al Thani, the Prime Minister, during the regular meeting held yesterday morning at its seat at the Amiri Diwan, approved a draft law on Anti-Money Laundering and Countering the Financing of Terrorism.

The draft law replaces Law No 4 of 2010, in light of the modernization of international standards of Anti-Money Laundering and Countering the Financing of Terrorism, and enables financial institutions and competent authorities to deal effectively with financial crimes, thus protecting the economic system from exploitation by criminal elements.

The Cabinet also approved a draft law on preventive measures against animal-originated infectious and epidemiological diseases in the GCC countries, and a draft decision by the Minister of Commerce and Industry, amending some provisions of Decision No 2 of 1988 regarding the maximum prices for the sale of Australian sheep meat and the regulation of its trading.

Source: Government of Qatar