Doha Bank has signed a landmark Memorandum of Understanding (MoU) with Edaa to bolster data security, optimize financial operations, and strengthen anti-money laundering (AML) and counter-terrorism financing (CTF) measures within Qatar’s financial sector.
The agreement creates a framework for secure data exchange, enhanced operational efficiency, and strengthened adherence to international standards. The MoU was signed by Sheikh Abdulrahman bin Fahad bin Faisal Al Thani, Group CEO of Doha Bank, and Mohammed Al Hetmi, Acting CEO of Edaa.
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.
According to the statement, 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.
Sheikh Abdulrahman bin Fahad bin Faisal Al Thani, Group CEO of Doha Bank, remarked that, “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.”
“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,” stated Mohammed Al Hetmi, Acting CEO of Edaa.
