Riyadh – Mubasher: The Saudi Central Bank (SAMA) and the Ministry of Human Resource and Social Development (HRSD) on Wednesday penned a memorandum of cooperation (MoC) to counter money laundering and the financing of terrorism.

The step comes in realisation of the strategic objectives of combating money laundering and terrorist financing and in implementation of their respective action plan, according to a press release.

The agreement was signed by SAMA’s Deputy Governor for Supervision, Fahad Ibrahim Alshathri, and the HRSD’s Deputy Minister of Society Development, Ahmed bin Saleh Al-Majed.