Saudi Arabia has implemented new regulations to prevent money laundering as the kingdom seeks to halt the financing of terrorism, Al-Riyadh reported, citing a statement from the Commerce and Industry Ministry. Companies are required to document all business transactions, including cash transfers within the kingdom and abroad, the newspaper said. Banks will be penalized if they accept undocumented money transfers, the newspaper said. (Bloomberg)
Printing articles to share with others is a breach of our terms and conditions and copyright policy. Please use the sharing options on the left side of the article. Devex Pro members may share up to 10 articles per month using the Pro share tool ( ).
