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.

 


Saudis, expats ready to restart their lives, vow to stick to health guidelines

Updated 30 min 15 sec ago

Saudis, expats ready to restart their lives, vow to stick to health guidelines

  • The restrictions will be lifted in three phases
  • People said they were excited to see their lives getting back to normal

RIYADH: Saudis and expats on Tuesday cautiously welcomed the government’s decision to ease lockdown restrictions, saying the risk was not over and people should strictly abide by the Health Ministry’s guidelines to keep the coronavirus at bay.

The restrictions will be lifted in three phases, during which the authorities will monitor and assess the situation and introduce changes if needed.

People said they were excited to see their lives getting back to normal after weeks of restrictions to stem the spread of the coronavirus in the Kingdom.

Abdulelah Hamed, a 28-year-old Saudi pharmacist, welcomed the new decisions, saying that strict measures were in favor of the public’s safety.

“Though it was a chaotic period, our government chose to help and educate us so that we emerge from this crisis unscarred and prepared citizens.”

Saudi journalist Nouf Al-Oufi, 30, said that the decisions depend on the awareness of society.

“The Kingdom has taken necessary actions since the beginning of the spread of the virus and was one of the leading countries in taking early measures to protect the health of its citizens.”

She said: “The past three months have served as lessons for citizens on how to take care of their health, the health of their families.”

Shahana Parveen, a teacher at the New Middle East International School in Riyadh, said: “We are very happy that the lockdown will end soon and things will get back to normal.”

She said, however, that risk remained. “It is of utmost importance to comply with the ministry’s health and hygiene guidelines. We should continue maintaining social distance, avoid gatherings, wear masks and sanitize hands and utensils.”

Murshid Kamal, convener at the India Islamic Cultural Center, Middle East region, told Arab News: “It’s a welcome move by the government. Saudi Arabia has done pretty well compared to other countries in the world. I urge community members to take care while going out in terms of hygiene and maintain the highest degree of social distancing norms to combat COVID-19.”

Mohammed Aslam Jameel, a travel supervisor at Global Travel Solutions in Riyadh, said: “It is highly appreciated that the government is taking measures in an excellent way to ease the curfew in phases and allowing reopening of workplaces, mosques and other essential businesses.”

“It is commendable that they have analyzed the situation and taken appropriate steps to boost public morale,” he said.

Since domestic air operations will resume on June 1 as announced, Jameel hoped international flights would also begin soon. 

M. Arshad Ali Khan, a schoolteacher in Riyadh, said: “The whole world is facing a challenging time due to COVID-19. This is a health emergency and an unprecedented situation. People are confined at home, their work and offices are closed. They were experiencing mental stress and anxiety, especially expatriates in the Kingdom.”

“At this juncture I would like to thank and appreciate the role of the Saudi government and also welcome the decision returning to normal life with the blessing of Almighty. I urge people to follow the Healthy Ministry’s guidelines and avoid nonessential travel, gathering, follow all government instructions, and minimize outdoor activity,” he said.

He also emphasized basic health precautions, especially frequent hand washing with soap and water, the practice of good coughing/sneezing etiquette, and the heeding of all security advice.

Zafar Hasan said: “As the coronavirus is still spreading with cases reported daily, I don’t think it is necessary to work from the office; we could work virtually like before to continue working from home.”

He added that attending the office only on a need-to basis was required, and while going out precautionary measures must be taken such as ensuring proper hygiene, disinfection and social distancing.