Currency smugglers caught at Madinah airport

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Four passengers were caught attempting to smuggle SR3.093 million ($804,010) out of Madinah airport. (SPA)
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Four passengers were caught attempting to smuggle SR3.093 million ($804,010) out of Madinah airport. (SPA)
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Four passengers were caught attempting to smuggle SR3.093 million ($804,010) out of Madinah airport. (SPA)
Updated 17 August 2019

Currency smugglers caught at Madinah airport

  • The passengers, who hid the money in their luggage, were intending to travel to four different destinations
  • Saudi Customs said that the Anti-Money Laundering Law requires all passengers carrying cash or precious metals that exceed the value of SR60,000 to complete a declaration form

MADINAH: Four passengers were caught attempting to smuggle SR3.093 million ($804,010) out of Prince Mohammed bin Abdulaziz International Airport in Madinah.
The passengers, who hid the money in their luggage, were intending to travel to four different destinations, Saudi Press Agency reported. 
Ahmad Al-Ghamdi, director of customs at the airport, said that the first attempt consisted of SR948,300 hidden in the passenger’s clothes.
He added that another attempt used the same strategy, and customs found SR679,000 in his clothes.
In the third attempt, the smuggler tried to conceal SR415,500 in metal cans hidden in his luggage.
The fourth passenger attempted to hide SR1.050 million in a pair of trousers in his luggage.
Al-Ghamdi added that the smugglers could not prove the legitimacy of the money, which reinforced the possibility of it being related to money laundering.
Saudi Customs said that the Anti-Money Laundering Law requires all passengers carrying cash or precious metals that exceed the value of SR60,000 to complete a declaration form. Failing to do so would be considered an explicit breach of the law.


G20 trade and investment ministers discuss COVID-19 response under Saudi Arabia's presidency

Updated 57 min 21 sec ago

G20 trade and investment ministers discuss COVID-19 response under Saudi Arabia's presidency

RIYADH: The trade and investment ministers of the G20 nations met virtually on Tuesday under the presidency of Saudi Arabia to strengthen trade and investment cooperation.
The ministers agreed to continue cooperation to support the recovery of international trade and investment amid the coronavirus pandemic.
They also agreed to support the necessary reform of the World Trade Organization (WTO) to which the Riyadh Initiative on the Future of the WTO provides political support.
Khalid Al-Falih, Saudi Arabia's minister of investment, said the collective G20 response to COVID-19 had started to deliver early signs of a “resilient, and stable economic recovery.”
“As policymakers, it is our duty to prioritize the most vulnerable in our societies, including micro, small and medium-sized enterprises, and Saudi Arabia stands ready to endorse the G20 policy guidelines for MSMEs,” Falih said.
Saudi Arabia’s Minister of Commerce Majid Al-Qasabi told the meeting that measures adopted by the G20 in May were “critical for sustaining the flow of essential goods and services across borders and limiting the human toll of the pandemic.”