The Standing Committee for Combating Money-Laundering held the monthly meeting for representatives of the member entities on Tuesday, 13/10/1442 AH, 25/05/2021 AD, in the presence of His Excellency Dr. Fahd bin Abdullah Al-Mubarak, Governor of Saudi Central Bank (SAMA) and Chairman of the Standing Committee for Combating Money Laundering. During the meeting, His Excellency delivered a speech in which he praised the concerted efforts of His Highness and His Excellency officials in the anti-money laundering, terrorist financing and arms proliferation authorities for their role in supporting the work of the members of the Standing Committee and the Secretariat, as well as their active contribution to many achievements and gains, most recently the Kingdom's passing of the mutual assessment process and its permanent membership in the Financial Action Task Force (FATF); in line with its ongoing efforts to achieve the objectives of Saudi Vision 2030.
During the meeting, the committee members discussed a number of important topics in the context of strengthening local anti-money laundering measures, and followed up on the progress made in the implementation of the National Action Plan and its strategic objectives approved by High Order No. 28548 and the date of 24/05/1440 AH, as well as the results of the task forces formed by members: the Mutual Assessment Task Force headed by the Saudi Central Bank, the Statistics Task Force headed by State Security, the Application, Training and Studies Task Force headed by the Public Prosecutor's Office, in addition to the risk team headed by the Financial Market Authority. The latest updates on the 40 recommendations of the Financial Action Group (FATF) have been reviewed to ensure that domestic regulations and legislation are in compliance with international standards. For more information, visit the Committee's website: www.aml.gov.sa