Saudi Arabia has partnered with Pakistan to combat money laundering and terrorist financing through a newly signed MoU between the respective financial investigative units. The Saudi cabinet discussed this and other diplomatic efforts at a recent meeting, emphasizing regional security initiatives, including hosting Interpol’s regional headquarters.
Saudi Arabia’s Presidency of State Security has approved a memorandum of understanding (MoU) with Pakistan’s Financial Monitoring Unit, aiming to bolster cooperation in investigating money laundering and terrorist financing. This decision was made during a cabinet meeting in Riyadh chaired by Crown Prince Mohammed bin Salman.
Minister of Information Salman Al-Dosari relayed that the Crown Prince updated the cabinet on his recent diplomatic discussions with leaders from Syria and Germany, as well as a phone call with the President of the European Council. The meeting highlighted Saudi Arabia’s diplomatic relations focused on global stability, particularly negotiations with Japan.
A significant point from the cabinet session was the confirmation that Saudi Arabia will host the Middle East and North Africa regional headquarters for Interpol, enhancing anti-terrorism and crime-fighting efforts. The cabinet also noted the final statement from a six-party meeting emphasizing a ceasefire and humanitarian aid for Gaza.
Several agreements were ratified, including a security cooperation pact with Qatar and MoUs with Tajikistan and Azerbaijan, allowing visa-free travel for their diplomatic passport holders. In a structural change, the power to issue licenses in the financial sector has transitioned from the Ministry of Commerce to the Saudi Authority for Auditors and Accountants.
Additionally, the cabinet reviewed annual reports from various governmental agencies such as the Ministry of Municipal and Rural Affairs and Housing, highlighting ongoing projects and their status. This reflects Saudi Arabia’s continuing focus on reform and international cooperation across multiple sectors.
The memorandum of understanding (MoU) between Saudi Arabia and Pakistan is a strategic partnership focused on combating financial crimes. Money laundering and terrorist financing represent significant threats to national and global security. By enhancing cooperation in financial investigations, these two nations are not just addressing local threats but also contributing to international security initiatives. This MoU aligns with Saudi Arabia’s broader strategy to bolster its role in regional stability and security enforcement, particularly in collaborations like hosting Interpol’s regional headquarters.
In summary, the recently approved MoU between Saudi Arabia and Pakistan is a crucial step towards strengthening cooperation against money laundering and terrorist financing. The cabinet’s discussions underscore the kingdom’s commitment to enhancing regional security through international collaborations and the hosting of Interpol’s regional operations. Additionally, various other diplomatic agreements indicate a proactive approach to maintaining stability and fostering international relations in the region.
Original Source: tribune.com.pk
