Qatar’s Central Bank, Financial Markets Authority and Financial Centre Regulatory Authority have announced they have each issued guidelines to their financial institutions addressing critical areas of compliance with their anti-money laundering and anti-terrorist financing rules and requirements. The guidelines were prepared collectively by the regulators and aim to provide clear and consistent guidance to all relevant financial institutions regarding the steps required to comply with certain critical aspects of the different regulatory rules in these areas. The new guidelines specifically deliver detailed guidance for all financial institutions in these areas in terms of customer due diligence, correspondent banking, reliance on third parties, high risk jurisdictions, beneficial ownership issues and legal entity transparency. They also provide guidance on the regulators’ expectations for the risk-based systems and controls financial institutions are required to implement to tackle money laundering and anti-terrorist financing.