VOL. XLVI
No 34
25-August-2003
SAUDI ARABIA
REGIONAL BANKING
Saudi Cabinet Approves Anti-Money Laundering Law
Saudi Arabias Council of Ministers on 18 August approved the kingdoms first ever anti-money laundering law following the endorsement of the Shura Council in June. The move reflects continued US pressure since the 11 September 2001 attacks to clamp down on local funding for Islamic militants. The law, which comes into effect 60 days after its publication in the official gazette, makes...
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