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Islamic Finance

Saudi Arabia establishes ministerial panel to fight commercial fraud


Published 18 Aug,2020 via Asharq Alawsat (English Edition) - Saudi Arabia has established a ministerial committee to oversee the national program to combat commercial cover-up and to propose solutions and initiatives to eliminate the practice.

The government decision comes in light of financial estimates over the effect of the commercial cover-up on the national economy, incurring losses estimated at more than $93.3 billion annually.

The committee is expected to watch over the implementation of initiatives and develop indicators to measure the performance of all relevant authorities.

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tags:

Fraud