Firms that carry out any of the activities specified in the Anti-Money Laundering and Combating the Financing of Terrorism Rules 2019 (AML/CFTR) issued by the Qatar Financial Centre (QFC) must follow enhanced due diligence measures when establishing a business relationship with money or value transfer service providers (MVTS).

• AML: Anti-money laundering.

• CFT: Countering the financing of terrorism.

• Business relationship: A regular relationship between a customer and a firm in connection with a service that the customer receives from the firm. A relationship that, when contact is established, is reasonably expected by a firm to be merely transitory and does not constitute a business relationship.

• Customer: Any person who engages in, or who has contact with the firm with a view to engaging in, any transaction with the firm or a member of the firm’s group:

  • On the person’s own behalf.

  • As agent for or on behalf of another person.

  A customer also includes:

  • Any person receiving a service offered by the firm (or by a member of the firm's group) in the normal course of its business.

  • A client or investor, or prospective client or investor, of the firm or a member of the firm’s group.