The Anti-Money Laundering Committee holds its monthly meeting

The Permanent Committee for Combating Money Laundering held the monthly meeting of representatives of member entities, in the presence of His Excellency the Governor of the Central Bank of Saudi Arabia, Chairman of the Permanent Committee to Combat Money Laundering Dr. Fahd bin Abdullah Al-Mubarak. In his speech during the meeting the day before yesterday, His Excellency praised the concerted efforts made by their Highnesses and Excellencies officials of the concerned authorities to combat money laundering and financing of terrorism and proliferation of armaments. For their role in supporting the work carried out by the members of the permanent committee and its secretariat, in addition to their active participation in achieving many achievements and gains, the last of which was the Kingdom’s passage of the mutual evaluation process, and its acquisition of permanent membership in the “FATF” Financial Action Group; In line with aspirations to achieve the goals of the Kingdom’s Vision 2030. During the meeting, members of the committee discussed a number of important issues within the framework of strengthening local anti-money laundering measures, and they followed up on the progress made in implementing the national action plan and its strategic objectives, in addition to discussing the results of the working groups formed by member entities, namely The mutual evaluation work team headed by the Central Bank of Saudi Arabia, the statistics team headed by the State Security, and the applications, training and studies team headed by the Public Prosecution, in addition to the risk team headed by the Financial Market Authority, and the latest developments regarding the forty recommendations issued by the Financial Action Task Force were reviewed. FATF “; To ensure that local regulations and legislation comply with international standards.

About the author

Leave a Reply

Your email address will not be published. Required fields are marked *