Tag: qatar
13 posts · qatar
A firm in the Qatar Financial Centre can take on a customer without conducting customer due diligence (CDD) itself, if the customer arrives by one of three routes in the Anti-Money Laundering and Combating the Financing of Terrorism Rules 2019 (AML/CFTR): an…
Version 5 of the Qatar Financial Centre's Anti-Money Laundering and Combating the Financing of Terrorism Rules 2019 (AML/CFTR) gave a fixed date for the MLRO's annual report, with senior management's written confirmation, to reach the regulator: before 1 June…
Buy-Now-Pay-Later is usually discussed in Qatar as a consumer credit product: caps on borrowing, credit bureau checks, late fees. All of that is in the Qatar Central Bank's Buy-Now-Pay-Later Regulation. But the same text also makes a BNPL provider a fully…
An e-wallet issuer or a merchant acquirer in Qatar is not left to build its financial crime controls from first principles. The Qatar Central Bank's Payment Services Regulation takes the existing AML/CFT framework, applies it to every licensed payment service…
When a business line proposes putting a process on a blockchain, the first compliance question at a firm regulated by the Qatar Central Bank is not about the technology. It is whether the QCB has approved the application. The QCB's Distributed Ledger…
A screening tool that carries the UN list and whatever the vendor ships by default is not, on its own, what the QFC Regulatory Authority is asking for. Its Guidance on the Implementation of an Effective Sanctions Compliance Programme, marked V1.0 and dated…
If your STR procedure ends at the moment of lodgement — suspicion formed, MLRO decides, report goes to the financial intelligence unit, file closed, customer handled carefully from then on — it is incomplete for a firm inside the Qatar Financial Centre. The…
Every jurisdiction in this series requires a suspicious transaction report. Two of the six put a number on the deadline. The other four use words: promptly and directly in Saudi Arabia, without delay and directly under UAE federal law, which is what firms in…
The texts in all six jurisdictions start from a similar idea: people who hold important public functions. Each then draws the edges differently: which relatives count, whether a domestic official is treated like a foreign one, and when senior management must…
When a bank or payment firm is asked to bank a virtual asset service provider, the first question is simple: is this firm licensed, and by whom? We checked that question against the regulators' own documents. Some answers come with a public register. One…
A working session with your compliance team, then a walkthrough against your own risk appetite: the lifecycle end to end, scoring weights set to your policy, and a review of the audit trail the system produces.
