Columnist

Talat Zaki Hafiz

Latest published



New procurement law a remarkable feat of legal re-engineering

Earlier this month, the Saudi Council of Ministers issued a resolution approving the new Government Tendering and Procurement Law (GTPL).

The government is counting on the GTPL to solve many of the financial and technical deficiencies which existed under previous legislation.

September 02, 2019

IMF gives strong assessment of KSA economic reforms

The executive board of the International Monetary Fund (IMF) has commended the Saudi authorities for the progress in implementing their economic and social reform agenda, including the introduction of the value-added tax and energy price reforms.

August 04, 2019

Why Saudi Arabia is an effective member of G20

Leaders of 37 countries attended the G20 summit in Osaka, Japan, from June 28 to 29. The G20 is an international high-level government forum comprising 19 countries in addition to the EU.

July 15, 2019

Saudi Arabia joins Financial Action Task Force

Saudi Arabia was granted full membership of the Financial Action Task Force (FATF) at its plenary meeting in Orlando, US, earlier this month.

July 01, 2019

Saudi Arabia stays ahead of field in move toward cashless society

Near Field Communication (NFC) is a wireless connectivity technology that allows banking transactions via a fast exchange of digital data between electronic devices using touch points.

June 14, 2019

Kingdom is fighting commercial concealment

Commercial concealment is defined as any illegal business practice that enables non-Saudi individuals or businesses to invest or engage in business activities they are prohibited from.

May 27, 2019

Saudi Arabia named world’s 9th most powerful country

A study conducted by US News and World Report in collaboration with the University of Pennsylvania and published by Business Insider has ranked Saudi Arabia as the ninth most powerful country in the world for political and financial influence.

April 21, 2019

The aims of the Financial Sector Conference

Under the aegis of King Salman, the Ministry of Finance, the Saudi Arabian Monetary Authority (SAMA) and the Capital Market Authority (CMA), the first Financial Sector Conference will take place in Riyadh on April 24 and 25.

April 07, 2019

Kingdom is fighting dirty money

Last month the European Commission (EC) issued a revised draft statement in relation to the Anti-Money Laundering Directive 4 (AMLD4), which has incorporated a list of 23 non-EU territories deemed to be failing in the fight against money laundering.

March 24, 2019