Page 40 - Annual Report 2020

/ 35 QF CR A ANNU AL REP OR T 2020

A Commitment to Regulatory Cooperation

International Organization of Basel Consultative Group (BCG) and Macroprudential collaboration

Securities Commissions (IOSCO) The Group of International Financial
Research and analysis produced at the macro level
and The International Association Centre Supervisors (GIFCS)
continued to foster the position of the Regulatory
of Insurance Supervisors (IAIS) Authority to carry out its functions effectively and to
Supervision participated virtually in four meetings of the
contribute constructively to the work of Qatar’s Financial
Investment Management Supervision attended BCG and two plenary sessions of GIFCS. The key focus
Stability and Risk Control Committee (FSRCC), in close
various virtual meetings of IOSCO’s C5 Investment areas of the BCG are proportionality, LIBOR reform, and
collaboration and partnership with senior members of
Management Committee, including co-chairing green finance. The GIFCS is developing guidance for the
staff from the Qatar Central Bank and the Qatar Financial
C5’s Data Leverage sub-committee. supervision of financial groups, including international
Markets Authority. During the year, the department
supervisory cooperation and communication.
held meetings with several external stakeholders to
Insurance Supervision participated in two meetings
identify and discuss key risks to domestic financial
of the Signatories Working Group of the IAIS and
National Anti-Money stability and prepared biannual financial stability
attended the Annual Conference virtually.
Laundering and Terrorism indicators reports for the FSRCC. The department
provided assistance and information to various
Financing Committee (NAMLC)
Supervisory Colleges international organisations, including the International
Monetary Fund. It also participated in drafting the
The Regulatory Authority’s chief operating officer
During the year, supervisors attended nine supervisory was the project manager of NAMLC’s Project Working Financial Stability Report of the Qatar Central Bank.

college meetings by teleconference in light of COVID- Group (PWG), and two staff were seconded as full-

related travel restrictions. Some planned engagements time members. The PWG was formed to advance

were cancelled due to the pandemic. Various bilateral the State’s AML/CFT initiatives under the National
engagements, firm-specific and macroprudential, Action Plan of Qatar in preparation for the Financial

were conducted with international regulators. Action Task Force (FATF) mutual evaluation of the

State of Qatar, which is targeted for June/July 2020,

after numerous postponements attributable to the

COVID-19 pandemic. Its objective is to assess the

country’s compliance and effectiveness with the
FATF standards to combat terrorist financing, money

laundering, and other forms of illicit finance.

T ABLE OF C ONTENT S