Dr. Ahmed A. Alkholifey, Governor of the Saudi Arabian Monetary Authority (SAMA) and Chairman of the Anti-Money Laundering Permanent Committee (AMLPC), welcomed the Cabinet's approval of the anti-money laundering law on Tuesday 4/2/1439 H. He stressed that the wise government of Saudi Arabia has been keen on combating crimes in all forms, including money laundering, in order to protect public interests, prevent evil and damages in their different types and ways, and ensure that the regulatory environment in Saudi Arabia meets international AML standards and requirements.

Saudi Arabia has been among the first countries to combat money laundering. It has called on the international community to firmly combat such crimes,  recognizing their adverse consequences and damages which influence the stability of the global security and economy. It has significantly reduced such crimes, due to the efforts of concerned authorities and measures taken in the past years to combat money laundering.

Saudi Arabia has always been concerned that all enacted laws and regulations meet the requirements of each stage, are consistent with developments in international standards and requirements, and honor its commitments to the organizations and institutions of the international community. Further, Alkholifey confirmed that the new law meets the requirements of the current stage and aims to increase the effectiveness of laws, legislation, and procedures. It also supports the Kingdom's efforts in anti-money laundering and emphasizes its keenness to enhance its efforts exerted in the previous period to improve its legislative, institutional, and technical structures.