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, strengthening joint coordination with states and strengthening control over remittance.”