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.

 

 

 


OIC delivers COVID-19 emergency medical aid to Afghanistan

Updated 06 June 2020

OIC delivers COVID-19 emergency medical aid to Afghanistan

  • The aid parcels contain disposable medical masks and protective clothing for quarantine personnel

RIYADH: Emergency medical aid organized under the auspices of the Organization of Islamic Cooperation (OIC) has arrived at Kabul International Airport, ready to be delivered to the Afghan ministries of foreign affairs and public health to combat the COVID-19 pandemic.
The aid parcels containing disposable medical masks, specialized N95 hospital masks and protective clothing for quarantine personnel were handed over to the Afghan authorities in presence of OIC’s Resident Representative in Kabul. 
Meanwhile the Islamic Solidarity Fund (ISF), a subsidiary OIC institution aimed at supporting the least developed member states in their response to the pandemic, especially in the health sector, has also delivered a first tranche of emergency financial assistance to Afghanistan.