Saudi Arabia affirms its stand against financing and supporting terrorist acts in all its forms

05:52 PM

Friday 19 November 2021

Riyadh – (USA):

Today, Friday, the Kingdom of Saudi Arabia affirmed its stand against financing terrorist acts and providing any form of explicit or tacit support to entities or persons involved in terrorist acts for any purpose.

And the Saudi Press Agency (SPA) stated that this came in the Kingdom’s speech during the joint special meeting on “the dangers and trends in the field of terrorism financing and the implementation of Security Council Resolution No. 2462 (2019)”, delivered by a member of the Kingdom’s permanent delegation to the United Nations from the Counter-Terrorism Department Khaled Nasser Al-Adeeb, where he called on member states to enhance international cooperation to prevent and combat terrorist financing through exchanging information and sharing experiences, and raising capacities and capabilities of other countries in the field of combating terrorist financing.

Al-Odeeb noted that the Kingdom established a department concerned with financial investigations in 2006, which works as a national central agency to receive and analyze reports, information and reports related to money laundering and terrorist financing crimes. Assessing the effectiveness of strategies and policies used to reduce risks, setting priorities therein, and taking relevant justified decisions.

Al-Odeeb said that his country adopted in 2018 the objectives and the national plan for combating money laundering and terrorist financing, which includes strengthening local and international cooperation and coordination, enhancing the ability to detect crime, analysis, investigation and prosecution, and ensuring an understanding and assessment of money laundering and terrorist financing risks among the entities subject to supervision, noting that The Kingdom is currently participating in the RTMG team concerned with drafting reports related to combating terrorist financing, and chairs, in partnership with America and Italy, the Coalition Working Group to Combat ISIS Financing (CIFG), and in 2017, it established and hosted the Terrorist Financing Targeting Center in partnership with America and the Gulf Cooperation Council countries. .

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