Anti-Financial Crime & Financial Crime Compliance
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NEWS: Saudi Arabia introduces beneficial ownership reporting – effective April 3, 2025

Buildings are seen in Riyadh, Saudi Arabia, December 18, 2017. Picture taken December 18, 2017. REUTERS/Faisal Al Nasser/File Photo

By PAUL O’DONOGHUE, Senior Correspondent

SAUDI Arabia is introducing beneficial ownership (BOI) rules to align with global anti-money laundering (AML) standards.

The Minister of Commerce announced the new regulations, which require companies to disclose their ultimate beneficial owners (UBOs) to the government.

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