Dear Esteemed Chamber Subscribers,
May the peace, mercy, and blessings of Allah be upon you.
Asharqia Chamber extends its warmest greetings to you and would like to inform you that it has received the letter of the Federation of Saudi Chambers No. (45551988/20), dated (22/1/1448 AH), referring to the telegram received from the Ministry of Commerce No. (1240), dated (16 Muharram 1448 AH)
which refers to the Anti-Money Laundering Law issued by Royal Decree No. (M/20), dated (5 Safar 1439 AH), and the Law of Combating Terrorism Crimes and Its Financing issued by Royal Decree No. (M/21), dated 12 Safar 1439 AH, and their Implementing Regulations, and the obligations they place on those practicing the precious metals and stones activity with regard to applying due diligence measures toward their customers.
The Federation informs you that the Financial Action Task Force (FATF) periodically updates its lists of countries with strategic deficiencies in their anti-money laundering, counter-terrorism financing, and counter-proliferation financing systems, three times a year, following its plenary meetings held in February, June, and October of each year. All reporting entities, including those practicing the precious metals and stones dealing activity, are required to follow these updates continuously through the Task Force’s website (http://go.ac.sa/jtz), and to take the necessary measures to ensure that their control measures and enhanced due diligence procedures are consistent with the latest lists issued by the Task Force when establishing or continuing business relationships or executing transactions with customers or parties associated with these countries, in proportion to the country’s level of risk. We also inform you that the Financial Action Task Force (FATF) updated its lists in June 2026.
Please accept our sincere regards and appreciation.