Qatar’s cabinet has passed a new law to combat money laundering and terrorism financing that will bring it in line with recommendations from the international organisation that sets global standards, its central bank said.
Qatar has been keen to show it is cracking down on terrorism financing, more than two years after coming under embargo by a Saudi-led bloc that has accused it of supporting militant groups, which Doha denies.
The world’s biggest exporter of liquefied natural gas has since signed a memorandum of understanding with the United States to increase cooperation on combating terrorism financing.
The central bank said the new law, which replaces legislation from 2010, would bring Qatar in line with the latest recommendations from the Financial Action Task Force (FATF), which sets global standards for fighting illicit finance.
Read the original article here: news.yahoo.com
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