Firms that carry out any of the activities specified in the Anti-Money Laundering and Combating the Financing of Terrorism Rules 2019 (AML/CFTR) and the Anti-Money Laundering and Combating the Financing of Terrorism (General Insurance) Rules 2019 (AMLG) issued by the Qatar Financial Centre (QFC) must have clear and effective policies, procedures, systems, and controls for the internal reporting of all known or suspected instances of money laundering (ML) or terrorism financing (TF).

• 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: