Tribune news network
doha
In its ongoing efforts to protect customers and contribute to the integrity of Qatar’s financial ecosystem, Commercial Bank unveiled its “Financial Crime Compliance Awareness Program” for corporate clients on 15 January 2025, at Commercial Bank Plaza.
The event brought together senior leaders from the Bank, public sector, andQatar Central Bank to share insights into the evolving landscape of financial crimes, the Bank’s role in mitigating risks, and its commitment to fostering a robust compliance culture. The program was attended by key corporate clients, including Qatar Airways, Qatar Steel, Qatari Diar, Qatar Energy, Nakilat, Milaha, Vodafone, QLM, QIC, and QFC.
Through a series of insightful sessions, this program aimed to provide in-depth knowledge on financial crime compliance, emphasizing its critical importance in today’s interconnected financial world.
Fahad Badar, EGM, Chief Wholesale and International Banking Officer at Commercial Bank said: “Financial crime compliance is essential for protecting both our customers and the stability of Qatar’s financial system. As financial crimes evolve, we must ensure that our strategies adapt to stay ahead in safeguarding what matters most.”
Abdulla Al Fadli, EGM and Chief Compliance Officer at Commercial Bank commented: “At Commercial Bank, protecting our customers from the risk of financial crimes is our top priority.” While sharing the core values of Commercial Bank, he outlined that compliance as function is embedded in our DNA, and it forms the foundation stone of everything we do and achieve in our banking business. Al Fadli also highlighted the importance of continuous improvement, innovations and diligent work towards ensuring trust and integrity in the financial system.
Muhammad Shahid Farid, Head of AML/CFT & Sanctions at Commercial Bank, added: “Our approach to financial crime compliance is proactive rigorous and built on sophisticated tech-based solutions”. By focusing on Anti-Money Laundering, Combating the Financing of Terrorism, and Sanctions Compliance, he highlighted how commercial bank stays ahead of emerging risks, ensuring the protection of our clients and the broader financial ecosystem.
Shivanka De Zoysa, Head of Fraud Control and Investigations, concluded: “Fraud prevention is an ongoing priority that requires constant vigilance and adaptation to stay ahead of evolving threats. As technology advances, new types of fraud, including AI driven deepfake scams, are emerging and becoming more sophisticated making it crucial for business to take proactive control measures. We are committed to equipping both our employees and customers with the knowledge to recognize and prevent these risks”.
The event reaffirmed Commercial Bank’s dedication to maintaining the integrity of the financial industry and fostering a culture of compliance, providing essential tools for both employees and clients to protect themselves against financial crimes.
