Cabinet approves law to curb money laundering

April 3, 2012

saudi

Riyadh, April 3: The Council of Ministers yesterday approved the law for combating money laundering, which will also be applied to fight funding terrorism and terror organizations.


The Cabinet meeting, which was chaired by Custodian of the Two Holy Mosques King Abdullah, also approved the establishment of Makkah Techno Valley as a Saudi joint stock company.


“The new company is aimed at promoting a knowledge-based economy through partnership with educational and research institutions as well as the business and investment community,” said Culture and Information Minister Abdul Aziz Khoja.


Spelling out Makkah Techno Valley’s objectives, Khoja said it would invest in industries for the transfer of technology; prepare university students to work in the private sector; and create a suitable atmosphere for economically viable research projects.


The Cabinet statement indicated the Kingdom’s plan to issue a new law to combat crimes related to terror funding. “Rules related to the crimes of financing terrorism, terrorist acts and terror organizations specified in the anti-money laundering law will continue to be applied until the issuance of a new law to combat such crimes,” Khoja said.


During the Cabinet meeting, King Abdullah briefed the ministers on the outcome of his talks with Yemeni President Abd Rabbuh Mansur Al-Hadi and US Secretary of State Hillary Clinton in Riyadh.


The Cabinet commended the resolutions taken by the US-GCC Forum in Riyadh, which aims at setting out an official framework for promoting strategic political, military, security and economic cooperation between the two sides.


The Cabinet backed the call made by the forum to end the bloodbath in Syria immediately. It also reiterated its support for the UN envoy, Kofi Annan, for the success of his peace mission in Syria.


The forum called upon all countries that are related to the Syrian issue to support international efforts to solve the crisis quickly. The Cabinet insisted that the international efforts should give priority to immediately ending the killings in Syria.


The Cabinet commended various international efforts to contain the Syrian crisis, including the Friends of Syria conference in Istanbul that recognized the Syrian National Council as the legitimate representative of the Syrian people and an umbrella organization for opposition groups. The Cabinet praised Turkey’s honorable stand on the Syrian issue.


Referring to the nuclear security summit in Seoul, the Kingdom reiterated its desire to make Middle East free of nuclear weapons and make all possible efforts to avoid nuclear accidents and dangers.


Khoja said the Cabinet endorsed the security cooperation agreement with Malaysia, which was signed in Riyadh on April 18, 2011.


The Cabinet reappointed Prince Turki bin Saud bin Muhammad as vice president for research institutes at King Abdulaziz City of Science and Technology, for four years; Suleiman bin Ahmed Al-Oqail, minister plenipotentiary at the Foreign Ministry; Muhammad bin Ali Al-Mundarij, deputy mayor for construction and projects in Qassim; Saad bin Muhammad Al-Jasser, petroleum adviser at the Ministry of Petroleum and Mineral Resources; and Mansour bin Muhammad Al-Baziee, director general of legal department at the Transport Ministry.

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Agencies
July 22,2020

Riyadh, Jul 22: Saudi King Salman held a cabinet meeting via video call from hospital in the capital Riyadh on Tuesday, a day after the 84-year-old monarch was admitted with inflammation of the gall bladder.

Three Saudi sources said the king was in stable condition.

A video of the king chairing the meeting was broadcast on Saudi state TV on Tuesday evening. In the video, which has no sound, King Salman can be seen behind a desk, wordlessly reading and leafing through documents.

The king, who has ruled the world’s largest oil exporter and close US ally since 2015, was undergoing medical checks, state media on Monday cited a Royal Court statement as saying.

Three well-connnected Saudi sources who declined to be identified, two of whom were speaking late on Monday and one on Tuesday, said the king was “fine”.

An official in the region, who requested anonymity, said he spoke to one of King Salman’s sons on Monday who seemed “calm” and that there was no sense of panic about the monarch’s health.

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News Network
April 16,2020

Dubai, Apr 16: Saudi Arabia reported 518 new cases of coronavirus, bringing the total number of infections in the country to 6380, the Ministry of Health announced on Thursday.

According to the ministry of health, the number of recoveries today were 59, making total of recoveries in the kingdom 990, with 71 critical cases in intensive care.

The ministry also confirmed 4 deaths, bringing the total number of deaths in the kingdom to 83.

Saudi Arabia imposed a 24-hour curfew and lockdown on the cities of Riyadh, Tabuk, Dammam, Dhahran and Hofuf and throughout the governorates of Jeddah, Taif, Qatif and Khobar. This week the curfew was extended until further notice by king Salman

Overall, Saudi Arabia has reported one of the lowest rates of infections in the region, with around 6000 cases in a population of over 30 million.

Private sector support

Saudi Arabia has allocated SR50 billion (Dhs49 billion)to support the private sector as part of its package of initiatives approved by King Salman on Wednesday aimed at mitigating economic repercussions from the coronavirus disease (COVID-19).

The package targets small and medium-sized enterprises (SMEs) and economic activities that have been most affected by the pandemic.

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News Network
June 17,2020

Abu Dhabi, Jun 17: The Ministry of Education (MoE) has allowed students still enrolled in universities overseas to obtain exceptions to attendance policies at their respective academic institutions in light of the Covid-19 pandemic.

In a statement, the ministry said that the move stems from its keenness to ensure the continuity of education for those students and to maintain effective channels of communication with them.

Students' applications for exceptions to academic attendance in universities due to Covid-19 should be submitted following the end of the academic year, and not after the academic semester, via the following email: [email protected].

In their email, students have to explain the reasons for the required exceptions and should include an official message from the university concerned.

Scholarship approval issued by the Ministry of Education for studying abroad should also be attached.

The student's score reports for the academic years spent in the host countries and the duration of each academic year should also be attached, in addition to an entry and exit report of the student from the Federal Authority for Identity and Citizenship.

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