MEC organises seminar on anti-money laundering
The Ministry of Economy and Trade (MEC) held a seminar yesterday entitled 'Regulation against Money Laundering and Terrorist Financing', which brought together legal auditors who worked in Qatar and were registered with the MEC.
The seminar, which brought together representatives of the financial information unit at Qatar Central Bank (QCB), related to the role of the accounting profession in the fight against money laundering and the financing of terrorism. Participants were informed about the role of the unit and discussed the cooperation between the unit and the auditors to facilitate the work of the Anti-Money Laundering and Combating the Financing or Terrorism Committee with the support of accounting firms and companies operating in Qatar, said the MEC in a statement.
The participants also discussed preventive and punitive provisions laid down in Law No. 4 of 2010.
The seminar is part of the focus of the ministry to promote the accounting profession, which is regulated by the audit of Act No. 30 of 2004.
"The MEC also wants to contribute to the development of the accounting and auditing profession, which reflects economic performance and represents a safety valve," the statement adds.
During the seminar, participants were informed about the joint efforts of the financial information unit of the MEC and QCB to raise awareness about anti-money laundering and terrorist financing rules and the cooperation between the ministry and the auditors when reporting suspicions of money laundering and terrorist financing. The attendees also stressed the need to ensure that accountancy firms comply with laws that regulate anti-money laundering and terrorist financing.
At the end of the seminar, the teachers answered all the questions of accountants and accounting firms that are active in Qatar.
The seminar, which brought together representatives of the financial information unit at Qatar Central Bank (QCB), related to the role of the accounting profession in the fight against money laundering and the financing of terrorism. Participants were informed about the role of the unit and discussed the cooperation between the unit and the auditors to facilitate the work of the Anti-Money Laundering and Combating the Financing or Terrorism Committee with the support of accounting firms and companies operating in Qatar, said the MEC in a statement.
The participants also discussed preventive and punitive provisions laid down in Law No. 4 of 2010.
The seminar is part of the focus of the ministry to promote the accounting profession, which is regulated by the audit of Act No. 30 of 2004.
"The MEC also wants to contribute to the development of the accounting and auditing profession, which reflects economic performance and represents a safety valve," the statement adds.
During the seminar, participants were informed about the joint efforts of the financial information unit of the MEC and QCB to raise awareness about anti-money laundering and terrorist financing rules and the cooperation between the ministry and the auditors when reporting suspicions of money laundering and terrorist financing. The attendees also stressed the need to ensure that accountancy firms comply with laws that regulate anti-money laundering and terrorist financing.
At the end of the seminar, the teachers answered all the questions of accountants and accounting firms that are active in Qatar.
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