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DOHA: Al Jazeera Finance (AJF), Qatar’s leading Shariah compliant finance company held a seminar highlighting the requirements of the new law No. 4 of 2010 relating to Anti-Money Laundering. Present at the seminar was Mohamed Jamal, the special representative of Qatar Central Bank (QCB).
In his address at the opening session AJF CEO, Khrusheed Hasan Qamber stressed the commitment of AJF’s Executive Management and the Board of Directors towards upholding all guidelines and the directives of the Qatar Central Bank and other supervisory authorities with regard to Anti Money Laundering and combating terrorism financing.
The session was conducted by Howaida Abdulaziz Mohammed, the Chief Risk Officer at AJF.
Commenting on AJF’s unwavering commitment to serve the financial sector in Qatar, Qamber, said “This seminar is an extension of our mission. We have stated our clear intension to uphold the highest standards of corporate governance while adhering to the principles and rules of Islamic Sharia’a.”
“While being happy that Al Jazeera Finance is forging ahead in the Sharia’a compliant financing sector and is making a name for itself as a leading Shariah compliant lender in Qatar we haven’t forgotten our goal of responsible governance. We are deeply committed to responsible growth.”
The sessions of the seminar covered a wide range of topics including the legal responsibilities and obligations stipulated by the Law No. (4) of year 2010 and Qatar Central Bank’s instructions on anti- money laundering and combating terrorism financing, regulatory frameworks included in the new Law No. 4 of 2010, preventive measures and administrative sanctions, financial organization’s management of the risks of money laundering and financing of terrorism.
The other topics that were tackled at the seminar included the role of money laundering Reporting Officer, the role of employees and officers in the prevention of money laundering and the financing of terrorism, and their understanding of the responsibility laid on their and the company’s shoulders in case of their involvement in money laundering or the financing of terrorism and the lack of compliance to Anti- Money Laundering and Combating the Financing of Terrorism laws and regulations.
The seminar was attended by all members of the Executive Management and most of the staff from all AJF departments such as Sales and Marketing, Credit Collection, Central Operations, Accounts departments.
Covering a vast number of areas related to the theme of the seminar, Mohammed highlighted the principles for combating money laundering and terrorism financing.
She outlined the responsibility of any financial institution’s Board of Directors, who are leaders in ensuring compliance of policies and procedures and advised a risk-based approach.