Officials during the workshop.
Doha, Qatar: The Ministry of Commerce and Industry (MoCI), in cooperation with the Qatar Financial Information Unit (QFIU) and the Qatar Association of Certified Public Accountants (QACPA), organised the second dialogue workshop titled “Challenges in Complying with Anti-Money Laundering and Counter-Terrorism Financing Requirements and Mechanisms to Address Them: Reporting Suspicious Transactions.”
The workshop was attended by Saleh Abdullah Al Mana, Assistant Undersecretary for Commerce Affairs at the Ministry of Commerce and Industry, and H E Dr. Sultan bin Hassan Al-Dosari, Chairman of the Qatar Association of Certified Public Accountants, with the participation of a number of auditors.
The workshop comes as part of the Ministry of Commerce and Industry’s efforts to enhance auditors’ compliance with the legislative and regulatory requirements related to anti-money laundering and counter-terrorism financing (AML/CFT), and to improve the reporting of suspicious transactions and the quality of Suspicious Transaction Reports (STRs). This was addressed through discussions on the key challenges associated with registration on the “Ekhtar” platform and mechanisms to address them, in a manner that contributes to supporting the safety and integrity of the economic environment.
The workshop covered a number of specialized topics, including the Ministry of Commerce and Industry’s monitoring of auditors’ levels of compliance with reporting obligations, and a review of the comparative strategic analysis of Immediate Outcome 4 related to the auditors sector. It also discussed the key challenges that limit the reporting of suspicious transactions, the proposed mechanisms to address them, and the role of auditors in supporting the anti-money laundering and counter-terrorism financing system.
The workshop also featured an open discussion session with auditors, during which participants exchanged views and discussed key observations, practical challenges, and development proposals, contributing to enhancing the effectiveness of related procedures and developing communication channels between the Ministry and professionals working in the sector.
