Saudi Arabia and Pakistan have signed a memorandum of understanding to enhance cooperation in combating money laundering and terrorist financing. The agreement was approved during a cabinet meeting led by Crown Prince Mohammed bin Salman, who also discussed recent diplomatic engagements. The meeting highlighted Saudi Arabia’s role in hosting the Interpol regional headquarters and ongoing peace efforts in Palestine.
Saudi Arabia and Pakistan have reached a memorandum of understanding (MoU) aimed at bolstering collaboration in the areas of money laundering and terrorist financing. The agreement, approved by the Saudi Presidency of State Security, was discussed during a cabinet meeting in Riyadh, which was chaired by Crown Prince Mohammed bin Salman. This initiative aims to facilitate the exchange of investigative insights between the Saudi Directorate of Financial Investigation and Pakistan’s Financial Monitoring Unit.
During the cabinet meeting, Crown Prince Mohammed bin Salman also informed attendees about his recent diplomatic talks, including dialogues with Syrian and German leaders, as well as discussions with the European Council’s President António Costa. The cabinet expressed satisfaction with the current negotiations with Japan, aiming to enhance global peace and stability through diplomatic engagement.
A significant outcome from the session is Saudi Arabia’s confirmation to host the regional headquarters for Interpol, which will serve the Middle East and North Africa. This development is anticipated to fortify regional efforts against terrorism and other criminal activities. Furthermore, the cabinet endorsed a final statement from the six-party Arab ministerial meeting on Palestine, advocating for a sustainable ceasefire and improved humanitarian aid reach in Gaza.
In terms of security, the cabinet approved a cooperation agreement with Qatar, alongside new MoUs with Tajikistan and Azerbaijan that facilitate visa-free travel for diplomatic passport holders. A structural realignment was also noted, transferring licensing authority in the financial and accounting sectors from the Ministry of Commerce to the Saudi Authority for Auditors and Accountants.
The meeting included reviews of annual reports from several government entities, showcasing efforts and developments in various sectors within the kingdom, including the Ministry of Municipal and Rural Affairs and Housing.
The agreement between Saudi Arabia and Pakistan reflects both countries’ commitment to combat financial crimes like money laundering and terrorist financing. Such collaborations are pivotal for maintaining regional security and fostering international cooperation against crime. The meeting’s discussions highlight Saudi Arabia’s ongoing diplomatic activities, which are crucial in enhancing the nation’s global standing and ensuring regional stability through multilateral engagements.
The MoU between Saudi Arabia and Pakistan signifies a collaborative approach towards tackling financial crimes, reinforcing the Saudi leadership’s commitment to broader regional stability and security. The discussions held during the cabinet meeting reveal a proactive stance in addressing various international concerns, with notable diplomatic efforts directed at fostering peace in conflict zones, particularly in Gaza. Overall, these developments emphasize the importance of cooperative agreements in enhancing security in the region.
Original Source: tribune.com.pk
