WASHINGTON, 22 April — Finance and National Economy Minister Dr. Ibrahim Al-Assaf stated here yesterday that Saudi Arabia has taken all appropriate measures to combat money laundering and the financing of terrorist organizations.
"The Kingdom has implemented all recommendations presented by the international working team concerned with financial procedures," he told a conference of the International Monetary Fund.
In his speech at the IMF meeting, the Saudi minister denounced Israel’s continuing occupation of Palestinian territories and its repressive measures against the Palestinian people.
Al-Assaf urged the international community to shoulder its responsibility regarding the deteriorating situation in the occupied Arab territories.
The Saudi official reiterated the Kingdom’s keenness to cooperate with other oil producing countries to stabilize oil prices.
"Oil consuming countries must cooperate with oil producers to realize market stability," he said.
Al-Assaf urged the IMF and the other international financial organizations to provide the required technical consultations to the developing countries.
He also urged the industrialized countries to open their markets to products from the developing states.
Recent world events have increased the keenness of the Kingdom's public and private sectors to combat financial crimes, especially money laundering and terror financing. Riyadh is hosting an international conference on the topic next month.
The Saudi Arabian Monetary Agency (SAMA) is expected to announce its strategic plans to fight money laundering at the conference, which was earlier set for October last year.
