Tribune News Network
Doha
Doha Bank has signed a landmark Memorandum of Understanding (MoU) with Edaa to strengthen data security, streamline financial operations, and enhance anti-money laundering (AML) and counter-terrorism financing (CTF) measures in Qatar’s financial sector.
The agreement, signed by Sheikh Abdulrahman bin Fahad bin Faisal Al Thani, Group CEO of Doha Bank, and Mohammed Al Hetmi, Acting CEO of Edaa, establishes a framework for secure data exchange, improved operational efficiency, and heightened compliance with international standards.
Under the MoU, both parties will collaborate to: Ensure the secure exchange and verification of shareholders’ data, Implement advanced AML and CTF measures, including risk assessments, due diligence, and compliance audits and Enhance transparency by verifying the integrity of transactions and ensuring compliance with sanctions.
Sheikh Abdulrahman bin Fahad bin Faisal Al Thani, GCEO of Doha Bank, remarked: “This partnership with Edaa underscores our unwavering commitment to transparency, data security, and regulatory excellence. By leveraging cutting-edge technologies, we aim to meet evolving global standards, safeguard the financial system, and contribute to Qatar’s economic resilience.”
Mohammed Al Hetmi, Acting CEO of Edaa, added: “This MoU reflects our shared vision of a transparent and secure financial ecosystem. By uniting efforts to combat financial crimes, we are paving the way for a robust financial market that upholds Qatar’s position as a global financial hub.”
The collaboration aligns with Qatar’s National Vision 2030, reaffirming Doha Bank and Edaa’s dedication to innovation, governance, and sustainable development within the financial sector.
