Plan to establish Arab Court of Human Rights in final stage

Updated 23 February 2016

Plan to establish Arab Court of Human Rights in final stage

JEDDAH: The Shoura Council is giving final touches to the draft statute of the Arab Court of Human Rights.
To be based in Bahrain, the court will have independent judges and provisions enforceable in all member states.
The observations being amended by the Shoura Council in the draft statute involve the use of the masculine pronoun for both the masculine and feminine subjects alike.
The amendments also involve adding an article that empowers the Court to impose temporary or transitional measures for the protection of complainants in urgent cases to prevent irreparable damage from being inflicted on victims.
Other Shoura observations included the need to amend Article Three of the draft statute to ensure that the host state of the Court will abide by international laws on human rights, and that the state must be a member of all international agreements and charters on basic human rights.
The Court must be given the necessary guarantees that the judges and employees will be able to work diligently to defend human rights without outside interventions or pressures.
According to official sources, the Court will seek to promote the human dignity, justice, equality and the rule of law in order to achieve the goals and objectives of the Arab Charter on Human Rights.
The court will consist of seven judges comprised of nationals from the member states, and a president will be elected for a term of four years.
The employees of the Court will enjoy the privileges granted to the representatives of the member States of the Arab League.
According to its bylaws, the Court will consider and resolve all disputes arising from the application and interpretation of the Arab Charter on Human Rights or any other Arab agreement in this regard.


Fraud alert over cryptocurrency falsely linked to Saudi Arabia

Updated 21 August 2019

Fraud alert over cryptocurrency falsely linked to Saudi Arabia

  • The website of a cryptocurrency company is promoting what it calls the CryptoRiyal and SmartRiyal
  • The Singapore-based company uses the Saudi emblem of two crossed swords and a palm tree

JEDDAH: Fraudsters are trying to lure victims into investing in a “virtual currency” with false claims that it is linked to the Saudi riyal and will be used to finance key projects, the Saudi Ministry of Finance warned on Tuesday.

The website of a cryptocurrency company in Singapore is promoting what it calls the CryptoRiyal and SmartRiyal, using the Saudi emblem of two crossed swords and a palm tree. Its “ultimate goal” is to finance NEOM, the smart city and tourist destination being built in the north of the Kingdom, the company claims.

“Any use of the KSA name, national currency or national emblem by any entity for virtual or digital currencies marketing will be subject to legal action by the competent authorities in the Kingdom,” the ministry said on Tuesday.

The fraudsters were exploiting ignorance of how virtual currencies work, cryptocurrency expert Dr. Assad Rizq told Arab News.

“A lot of tricks can be played,” he said. “Some of these companies are not regulated, they have no assets, and even their prospectus is sometimes copied from other projects.

“They hype and pump their project so the price goes up. Inexpert investors, afraid of missing out, jump in, which spikes the price even higher. Then the owners sell up and make tons of money.

“Cryptocurrencies are a risky investment for two reasons. First, the sector is not yet fully regulated and a lot of projects use fake names and identities, such as countries’ names or flags, to manipulate investors.

“Second, you have to do your homework, learn about the technology. And if you still want to invest, consider your country’s rules and regulations.”