Saudi justice ministry holds training program against terrorism funding, money laundering

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Saudi Arabia’s Ministry of Justice concluded a training program aimed at combating terrorism funding and money laundering. (SPA)
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Saudi Arabia’s Ministry of Justice concluded a training program aimed at combating terrorism funding and money laundering. (SPA)
Updated 06 October 2018
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Saudi justice ministry holds training program against terrorism funding, money laundering

JEDDAH: Saudi Arabia’s Ministry of Justice concluded a training program aimed at combating terrorism funding and money laundering.
More than 300 judges from Saudi criminal courts took part in the program, which was held at the Judicial Training Center and aimed to support participants’ executive judicial skills.
The program also highlighted the legal development of money laundering and terrorism financing crimes, their domains and knowing the indicators for money laundering.
A recent report by the Financial Action Task Force (FATF) commended the Kingdom for making drastic changes to the way it combats money laundering, terrorism funding and arms proliferation.
The Kingdom has proven its understanding of the risks it faces by its measures to address them, the report said.
Saudi Arabia has a strong legal framework to implement targeted financial sanctions imposed by the UN on terrorists without delay, the report added.
Last year, Saudi Arabia introduced the new Anti-Money Laundering Law. Under the new law, the penalty for money laundering will be between three and 15 years imprisonment or a fine of up to SR7 million ($1.87 million). AN Jeddah
A money laundering crime, according to the new law, includes conducting any transaction involving property or proceeds with the knowledge that they are the result of criminal activity or originate from an illegitimate source in order to disguise, protect or help that source or any other person involved in the original crime through which the property or proceeds were obtained.


Misk Global Forum: UAE Higher Education Minister aces ‘job interview’

Updated 19 sec ago
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Misk Global Forum: UAE Higher Education Minister aces ‘job interview’

  • ‘You need a core major. Academic background is still important’

RIYADH: The opening session on the second day of the Misk Global Forum began with a brain teaser – how many golf balls can you fit in a school bus? – as part of a job interview, but not just with any applicant.

Dr. Ahmad Belhoul Al-Falasi, the UAE’s Minister of State for Higher Education and Advanced Skills, talked about higher learning and his career in the format of a job interview, conducted by moderator Razan Alayed, an advisor to the Education and Human Resources Council in the UAE.

Al-Falasi said he was surprised that even though he went to very good schools and had a PhD in engineering, he got rejected when applying to many companies because they said he was overqualified. He realized he was underqualified in consulting, so he started to work on that. His learning? “People appreciated the skills I had, not my education.”  

Still, Al-Falasi said it’s important to have a specialization in higher education. “You need a core major. Academic background is still important.”  

To be successful, he said a person needs to be confident and passionate, and that it’s important to have skills of negotiation and articulation.

“I’m not the smartest person,” he said, rather modestly. “If I have to pick one skill, it will be my capacity to adapt.”

Al-Falasi said technology is helping education evolve: “Today with technology, you can have access to the best classes in the world. Data is also important, many say. A lot of technology is built on understanding.”  

At the end of his interview, when Al-Falasi was asked about his salary expectation. Without pause, he said if it’s for a job at Misk, the figure doesn’t matter.

“We all feel very passionate and positive today, especially with what’s happening in Misk,” he said. “All eyes are on Saudi Arabia today.”