We, Global For Exchange & Money Transfer Services Qatar & its Branches are committed to operate the business with integrity, within the scope of law and with security.
Global For Exchange & Money Transfer Services Qatar is committed to prevent money laundering and terrorist financing in accordance with the Qatar Central Bank’s regulations and international best practices in Anti-Money Laundering (AML) & Counter Terrorist Financing (CFT). The main objective of the policy is to ensure and establish the essential standards designed to prevent Global For Exchange & Money Transfer Services from being used as a platform for Money Laundering and Terrorist Financing.
Global For Exchange & Money Transfer Services is fully committed with adhering to the laws and regulations in accordance with local Law No (20) of 2019 issued by Qatar Central Bank on Combating Money Laundering and Terrorism Financing, International law/standards such as Financial Action Task Force (FATF) recommendations on Combating Money Laundering and Terrorism Financing, Office of Foreign Assets Control (OFAC) of the US Department of Treasury, Middle East & North Africa Financial Action Task Force (MENAFATF) etc.
“Our mission is to ensure implementation of the most effective compliance program within the organization”
Global For Exchange & Money Transfer Services has implemented comprehensive AML & CTF policies and procedures, sanction screening, and AML monitoring systems to detect, prevent, and report any money laundering and terrorist financing associated risks.
Global For Exchange & Money Transfer Services’s policies against money laundering and terrorism financing ensure the highest standards of due diligence in relation to “Know Your Customer (KYC)” principles. We consistently update our policies and systems to comply with the regulatory framework and guidelines issued by the Qatar Central Bank.
Global For Exchange & Money Transfer Services assists the company to conduct business in compliance with the following principles:
Obliged to follow all the relevant Qatar AML/CFT laws, regulations, standards, and guidelines, and maintain written policies, procedures, and systems of internal control designed to facilitate ongoing compliance.
Apply risk-based customer due diligence and a strong identity verification process (KYC) for all our customers as per local and international AML/CFT regulations irrespective of the amount of the transaction, considering the risk areas associated with the customer type, business relationship, products, transaction types, origin of funds, and purpose of their transactions.
Through Customer Due Diligence (CDD) we obtain relevant details of every customer to ensure that their transactions align with their profile or business activities to verify legitimacy of source of funds and purpose.
By applying Enhanced Due Diligence (EDD) to higher-risk customers and transactions, we perform additional checks beyond regular CDD by verifying source of funds and authenticating documents.
Record retention of customer and transaction data is maintained as required by local regulations.
Customer activity is monitored using advanced analytics to detect money laundering, terrorism financing, or sanctions violations.
Automated real-time screening of customers and transaction parties against sanctions lists from UNSC, Local Sanctions, EU, UK, OFAC, and adverse media.
Screening is also done using Sanctions and Politically Exposed Persons (PEP) databases with tools like “World-Compliance”.
Ongoing training is arranged for employees on AML/CFT responsibilities.
Global For Exchange & Money Transfer Services Qatar is committed and obliged to work with Qatar Regulators and Law Enforcement agencies to combat money laundering and terrorism financing in accordance with the law, regulations, and industry standards.
For detailed AML/CFT policies or clarifications, contact:
