Naif Al-Ajmi, head of Anti-Money Laundering and Counter Financing of Terrorism Compliance at Saudi Arabia’s Capital Market Authority

Naif Al-Ajmi
Updated 09 November 2019

Naif Al-Ajmi, head of Anti-Money Laundering and Counter Financing of Terrorism Compliance at Saudi Arabia’s Capital Market Authority

Naif Al-Ajmi has been the head of Anti-Money Laundering and Counter Financing of Terrorism Compliance at Saudi Arabia’s Capital Market Authority since July 2019. He is also the authority’s senior specialist and executive adviser.

He began his career as a legal specialist at the General Authority for Competition in Riyadh, where he worked from May 2006 to June 2007, before joining the Capital Market Authority as an inspection specialist. 

In June 2010, he became the authority’s compliance and unauthorized persons unit manager, and then AML and CFT acting unit manager in January 2015, a position he held until July 2016, when he moved to Washington, DC to work as a senior financial sector specialist and legal expert at the World Bank Group. 

Al-Ajmi attained his bachelor’s degree in law from King Saud University, Riyadh in 2003 and his master’s in international business law from the University of Central Lancashire, England in 2006.

On Monday, the Saudi Arabian Monetary Authority (SAMA) announced a national awareness campaign to help combat financial crime.

Al-Ajmi noted that several financial institutions were involved in the assessment process in order to shape a common understanding around risk and compliance.

“It is crucial for countries undergoing the assessment exercise to have efficient technologies for data generation,” he said. “This proved very helpful for us, especially with the time challenges and tight deadlines we had,” Al-Ajmi said.

 


King Salman urges Iran to junk its expansionist ideology

Updated 21 November 2019

King Salman urges Iran to junk its expansionist ideology

  • Saudi Arabia has suffered from the policies and practices of the Iranian regime and its proxies, king says
  • Kingdom also welcomed US decision to return Iran's Fordow nuclear facility to its sanctions list

RIYADH: Iran should abandon its expansionist ideology that has only “harmed” its own people, Saudi Arabia's King Salman said on Wednesday, following violent street protests in the Islamic republic.

A wave of demonstrations erupted in the sanctions-hit country on Friday after an announcement that petrol prices would be raised by as much as 200 percent with immediate effect.

“We hope the Iranian regime chooses the side of wisdom and realizes there is no way to overcome the international position that rejects its practices, without abandoning its expansionist and destructive thinking that has harmed its own people,” the king told the consultative Shoura Council.

“The kingdom has suffered from the policies and practices of the Iranian regime and its proxies,” King Salman said, quoted by the foreign ministry, reiterating that Riyadh does not seek war but is “ready to defend its people.”

A satellite image from Sept. 15, 2017, of the Fordow nuclear facility in Iran. (Google Earth)

Saudi Arabia has welcomed Washington's decision to return the Fordow nuclear facility in Iran to the sanctions list. 

Washington said on Monday that it will no longer waive sanctions related to Iran’s Fordow nuclear plant after Tehran resumed uranium enrichment at the underground site. 

“The right amount of uranium enrichment for the world’s largest state sponsor of terror is zero ... There is no legitimate reason for Iran to resume enrichment at this previously clandestine site,” US Secretary of State Mike Pompeo told reporters earlier this week.