Connect with us

General news

Kingdom of Saudi Arabia, first Arab country to join fight against money laundering

Published

on

The Kingdom of Saudi Arabia on Sunday announced that it is the first Arab country to join the fight against money laundering globally.

The announcement was made via the country’s official Twitter handle.

It said that the country was the first Arab country to be granted full membership of Financial Action Task Force (FATF).

It said that FATF is an inter-governmental body established in 1989, responsible for combating money laundering and terrorist financing with 39 permanent members.

“In line with its efforts in financial and economic programmes to achieve vision 2030, the Kingdom is the first Arab country to join FATF to fight money laundering globally.

“The Kingdom accession underscores the strength of the Saudi financial and banking system, the implementation of global procedures for combating money laundering, strengthing joint coordination with states and strengthing control over remittance.”

Edited by Donald Ugwu

Taiye Edeni: is a graduate and a professionally trained journalist, with experience in national news reporting/editing and verification at the News Agency of Nigeria. NNN is a Nigerian online news portal that publishes breaking news in Nigeria, and across the world. Our journalists are honest, fair, accurate, thorough and courageous in gathering, reporting and interpreting news in the best interest of the public, because truth is the cornerstone of journalism and they strive diligently to ascertain the truth in every news report. Contact: editor[at]nnn.com.ng

Contact US: editor @nnn.com.ng, nnnnews247 @gmail.com