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.


13,230 families benefit from ‘Sakani’ program in Saudi Arabia

More than 157,000 families benefited from the program during 2018. (SPA)
Updated 17 June 2019
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13,230 families benefit from ‘Sakani’ program in Saudi Arabia

  • More than 157,000 families benefited from the program during 2018

RIYADH: The Ministry of Housing’s “Sakani” program has helped 13,230 families registered on its Real Estate Development Fund list with housing options and finance solutions during May.
This includes 5,835 families who live in their own homes, bringing the total number of families benefiting from the program in different regions of the Kingdom since the start of the year to 68,195.
The Sakani program announced the names of beneficiaries and their national ID numbers through the link https://sakani-names.housing.sa or via the program portal.
More than 157,000 families benefited from the program during 2018.
Ministry of Housing spokesman Saif Al-Suwailem said that Sakani continues to provide its services to beneficiaries according to their needs and abilities. The ministry is keen to provide better services in line with the “Eskan” program, one of the Saudi Vision 2030 initiatives that aims to raise the proportion of residential ownership to 70 percent by 2030.
As part of Sakani’s efforts to provide suitable housing options, the program began to implement 53 new housing projects in different regions of the Kingdom, characterized by affordable prices for a large segment of citizens registered on the lists of the Ministry of Housing.
Al-Suwailem said that the ministry was keen to find solutions for Saudi families that help them to own the right home for them. SPA Riyadh