Dealers in Precious Metals or Stones (DPMS)
- Under Article (1) of Law No. (20) of 2019 on Combatting Money Laundering and Terrorism Financing, DPMS are considered among the designated non-financial businesses and professions (DNFBPs) whenever they participate in cash transactions equal to or exceeding a threshold of (QR 50,000) fifty thousand Qatari Riyals. Cash transactions may be a one-off transaction or several transactions that appear to be linked.
- For access to and clarification of the obligations of DPMS in terms of the AML/CFT and reporting suspicious transactions requirements in this Law, Council of Ministers’ Decision No. (41) of 2019 on Promulgating the Implementing Regulations of this Law and the AML/CFT Compliance Rules for Auditors, Dealers in Precious Metals or Precious Stones and Trust and Company Service Providers, please refer to the following:
AML/CFT Compliance Guidance and Reporting obligations For Dealers in Precious Metals or Precious Stones July 2020