The Financial Action
Task Force (FATF) Plenary Meeting, which was concluded on Friday, 21 June 2019,
in Orlando, USA, granted the Kingdom of Saudi Arabia full Membership of the
group. The Kingdom is the first Arab country to obtain the membership.
The FATF agreed to grant the Kingdom observer status in the
Group in June 2015 in recognition of the significant role played by the Kingdom
in the region in the field of combating money laundering and financing of terrorism
The Kingdom's accession to the FATF after the conclusion of
the mutual evaluation process, one of the main requirements for obtaining full membership,
which was conducted by the FATF during 2017-2018 in participation with the Middle
East and North Africa Financial Action Task Force (MENAFAT). The findings of
the assessment process have revealed the high level of compliance and effectiveness
of the control measures of the AML/CFT.