Prosecution Lowers Fund Disclosure Limit
The Public Prosecution in Saudi Arabia announced a new amendment to the executive regulations of the Anti-Money Laundering Law. The minimum threshold for the value of funds and financial instruments that must be declared when entering or leaving the Kingdom has been reduced from 60,000 Riyals to 40,000 Riyals. This amendment covers amounts or instruments valued at more than 40,000 Riyals, such as gold, gemstones, and jewelry. The goal is to enhance financial oversight procedures and reduce money laundering crimes across all land, sea, and air borders.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)