Saudi Arabia Hosts Symposium on Money Laundering and Financing of Terrorism
September 12, 2012
[Washington, DC] -- Prince Ahmed bin Abdulaziz, Minister of Interior and Supervisor of the Bureau of Investigation and Public Prosecution (BIP) presided over the inaugural ceremony of a symposium titled, “The Role and Responsibility of the Public Prosecution and Judicial Bodies in Combating Money Laundering and Financing of Terrorism.” The symposium began on Sept. 8 in Riyadh, Saudi Arabia, and was organized by BIP in cooperation with the Middle East and North Africa Financial Action Task Force.
Representatives of Arab and foreign countries, as well as a number of international monetary institutions, participated in the event.
Addressing the opening ceremony, Prince Ahmed said Saudi Arabia has the highest level of commitment to international recommendations to combat money laundering and the financing of terrorism. “The Kingdom has become a distinguished model in this regard and a source of expertise for the international community in the fight against international terrorism and the reform of those who have been affected by deviant thought and groups,” he stated. However, Prince Ahmed also stressed that the shared responsibility and expertise of the international community is essential to fighting this phenomenon.
Sheikh Abdulaziz bin Abdullah Al Al-Sheikh, the Grand Mufti of Saudi Arabia and Chairman of Senior Scholar Council and Permanent Committee for Islamic Research and Fatwas, attended the opening ceremony. Sheikh Abdulaziz referred to money laundering and the financing of terrorism as “great crimes” and called on the international community to combat them.
Working with its international partners, Saudi Arabia is committed to stopping terrorism in all its forms. In 2010, the Financial Action Task Force report on efforts to combat money laundering and terror financing ranked Saudi Arabia first in the Arab world and among the top 10 within the Group of 20 (G-20) countries.