Terror funding, money laundering demand greater int’l co-op: KSA Attorney General
CAIRO – 21 February 2019: Saudi Arabia's Attorney General Sheikh Saud bin Abdullah Al-Mua’jab said on Wednesday that money laundering and terror financing are at the “forefront of global criminal phenomena,” and often complemented each other.
Sheikh Mua’jab’s remarks came as he attended the 1st Middle East and North Africa Conference on Countering Terrorism in Cairo on Wednesday.
The conference is organized by the Egyptian Public Prosecution Office under the auspices of President Abdel Fatah al-Sisi with an aim to reinforce international efforts against the growing threat of terrorism funding and money laundering.
He also affirmed that new forms of transnational terror funding and money laundering demanded greater cooperation between states and organizations.
“Saudi Arabia has spared no effort in combating these two crimes,” Al-Mua’jab said. “One of the most important steps the world has taken through its international and regional systems is to engage in initiatives and agreements to combat terrorism financing and money laundering as the artery of the criminal body that strikes the global economy,” he added.
“Saudi Arabia is a key partner in the international coalition against the so-called [Islamic State] Daesh terrorist organization and leads, together with the US and Italy, the Counter Daesh Finance Group. It has also implemented laws and procedures aimed at combating money laundering and terrorist financing,” he said.
He said measures taken by the Kingdom included the 2017 “Law of Combating Crime and its Financing,” regulation of charities and the establishment of a standing committee to investigate money laundering.
The two-day conference is attended by Awqaf Minister Mohamed Mokhtar Gomaa, Solidarity Minister Ghada Wali, Investment Minister Sahar Nasr, Prosecutor General Nabil Sadek, and several ambassadors and representatives of 41 diplomatic missions in Cairo.
Sadek stressed on the sidelines of his participation at the conference that it is necessary that the world countries cooperate to end terrorism funding and money laundering.