KSA’s bid for permanent membership in global anti-terror finance task force discussed

Ahmed Abdulkarim Alkholifey, chairman of the Saudi Arabian Monetary Agency (SAMA), attended the Financial Action Task Force meeting in Paris. (SPA)
Updated 30 June 2018

KSA’s bid for permanent membership in global anti-terror finance task force discussed

  • Saudi Arabia has met international standards and requirements on becoming a permanent FATF member and is committed to international and bilateral conventions.
  • The Kingdom was invited in 2015 to become a member of FATF in recognition of the Kingdom’s international and regional status and in appreciation of its efforts.

JEDDAH: The Financial Action Task Force (FATF) has discussed Saudi Arabia’s mutual evaluation report on anti-money laundering and combating the financing of terrorism and weapons proliferation during its joint meeting with the Middle East and North Africa Financial Action Task Force (MENAFATF), which concluded in Paris recently.

The report was prepared by international experts from both FATF and MENAFATF.

According to a FATF statement, the report is based on the FATF mutual evaluation process and includes the main findings, recommendations and advised measures on the above issues, as well as the Kingdom’s compliance with the technical standards of FATF’s recommendations.

FATF is expected to release the report in September 2018 based on internal procedures.

The mutual evaluation process is considered one of the most important procedures for obtaining permanent membership in FATF, and proceedings are continuing in this regard.

The governor of the Saudi Arabian Monetary Agency (SAMA) and chairman of the Anti-Money Laundering Standing Committee, Ahmed Abdulkarim Alkholifey, thanked all bodies concerned, including committees in Saudi Arabia, for their cooperation during all stages of the mutual evaluation.

Saudi Arabia was invited in 2015 to become a member of FATF in recognition of the Kingdom’s international and regional status and in appreciation of its efforts.

The Cabinet had approved the commencement of the procedures for joining FATF upon its request.

The Kingdom has met international standards and requirements issued in this regard and is committed to international and bilateral conventions.

Since June 2015, Saudi Arabia has been occupying an observer seat in FATF.

 

 

 


Preserving heritage means securing the future, says Princess Haifa

Updated 50 min 1 sec ago

Preserving heritage means securing the future, says Princess Haifa

  • Saudi Arabia is at the 209th session to discuss international issues related to the fields of education, science and culture

PARIS: Princess Haifa bint Abdul Aziz Al-Muqrin, the Kingdom’s permanent representative to UNESCO, said that changes can only be faced with global efforts to achieve the common goals of promoting peace, building cultural bridges between nations, and empowering societies to guarantee a better future.

Saudi Arabia recently participated in the 209th session of the UNESCO Executive Council at the agency’s Paris headquarters. The Kingdom was represented at the session by Princess Haifa and a team of 26 Saudi experts from different sectors that have activities related to the scope of UNESCO’s work, such as education, culture, energy, environment, and training.

Princess Haifa said: “Despite our different cultures and languages, we share our belief that education is a right for everyone, that preserving heritage means securing the future, and that innovation and science are the bridge that will pull us out of this pandemic the world today is living.”

She said that the Kingdom supported African countries and was ready to share its experiences in various UNESCO fields, in addition to supporting action plans related to developing islands as one of its priorities in exchanging experiences, especially since the Kingdom is one of the most advanced countries in the world in the field of water desalination.

Reference was made to the Kingdom’s support for international growth and stability through the G20 presidency, specifically with regard to ensuring the continuity of education in crises, the continuation of efforts to achieve climate adaptation worldwide, and solidarity with the members of the G20 in fighting the COVID-19 pandemic.

As a member state of the UNESCO Executive Council, Saudi Arabia is at the 209th session to discuss international issues related to the fields of education, science and culture. These will be evaluated and decided upon, and the executive decisions assigned to them will be voted on, in cooperation with the council’s member states.

The Kingdom’s participation in the meetings of the UNESCO Executive Council also comes as part of its permanent presence in the international cultural and educational organization since its foundation in 1946.