Pakistan, Saudi Arabia ink agreement to fight money laundering

Saudi Arabia’s Presidency of State Security has approved a memorandum of understanding (MoU) between the Saudi Directorate of Financial Investigation and Pakistan’s Financial Monitoring Unit to enhance cooperation in the exchange of investigations related to money laundering, terrorist financing, and associated crimes.

The decision was taken during the weekly cabinet meeting held in Riyadh on Tuesday, chaired by Crown Prince Mohammed bin Salman.

According to the Saudi Press Agency (SPA), Minister of Information Salman Al-Dosari stated that at the beginning of the meeting, the Crown Prince briefed the cabinet on his recent discussions, including meetings with Syrian President Ahmed Al-Sharaa and German President Frank-Walter Steinmeier, as well as a phone conversation with European Council President António Costa.

The cabinet discussed Saudi Arabia’s diplomatic engagements with various countries concerning global peace and stability and expressed satisfaction over ongoing negotiations with Japan.

A key highlight of the session was the kingdom’s confirmation that it would host the regional headquarters of the International Criminal Police Organization (Interpol) for the Middle East and North Africa. The move is expected to strengthen efforts against terrorism and various forms of crime in the region.

The cabinet also welcomed the final statement of the six-party Arab ministerial consultative meeting on Palestine, which emphasized the need for a lasting ceasefire and the acceleration of humanitarian aid deliveries to Gaza.

Several agreements were approved, including a security cooperation pact between Saudi Arabia and Qatar. Additionally, the cabinet endorsed MoUs with Tajikistan and Azerbaijan, allowing diplomatic and service passport holders from these countries to travel visa-free.

In a structural change, the authority to issue licenses in the financial and accounting sectors was transferred from the Ministry of Commerce to the Saudi Authority for Auditors and Accountants.

The session also reviewed the annual reports of various government entities, including the Ministry of Municipal and Rural Affairs and Housing, the Hail Development Authority, and the Food and Drug Authority.