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Kingdom’s efforts to combat economic crime
Monaco 26th April 2001

  Saudi Minister of Justice Sheikh Abdullah bin Mohammed Al Al-Sheikh highlighted here on Thursday the continuous efforts of the Kingdom of Saudi Arabia in combating increasing economic crimes that directly or indirectly affect national economies.

In a speech delivered at the opening ceremony of Monaco’s 11th International Conference for combating economic crimes, Al Alsheikh explained that the Kingdom was cooperating with other countries in maintaining economic processes nationally, regionally and internationally.

Acting on the principles of the Islamic Sharia, the Kingdom aims to combat economic crime in concert with other like agencies, to protect economies, to take care of developmental projects and fight those who are playing with the common interests of countries, he added.

Al Alsheikh noted that the Kingdom of Saudi Arabia, a signatory in Italy last year of the International Agreement for Combating Organized Crime across Borders, looks forward to implementing strictly the articles of that Agreement. He added that the Kingdom has taken the necessary and precautionary measures to protect its national economy, including the imposition of punishments such as jail, fines and confiscation against those who commit economic crimes.

The Minister of Justice highlighted the Kingdom’s international participation in combating economic crimes, notably money laundering.

Dr Al-Athel said the Kingdom of Saudi Arabia issued the patents system for invention more than 12 years ago and KACST had undertaken the task of granting patents in conformity with the approved system. He noted that KACST had been working to organize and protect the rights of inventors.

Source: SPA

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29 April 2001 06:18:31 PM

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