The Saudi Central Bank (SAMA) and the Oversight and Anti-Corruption Authority (Nazaha) concluded a bilateral Memorandum of Cooperation (MoC) on Wednesday 18th, Jumada I 1446H (November 20th, 2024). The MoC aims to bolster the cooperation mechanism regarding corruption crimes involving financial institutions under SAMA supervision and falling under the jurisdiction of Nazaha, which is in line with the provisions of related laws and procedures.

The MoC was signed by H.E. SAMA Governor, Mr. Ayman Al-Sayari and H.E. Nazaha President, Mazin Al-Kahmous.

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The MoC seeks to strengthen SAMA-Nazaha bilateral cooperation due to SAMA's control and supervisory powers over financial institutions and mandates vested in Nazaha related to combating financial and administrative corruption crimes in a manner that ensures integrated and consistent roles. This would, therefore, contribute to the objectives of Saudi Vision 2030.