Saudi Arabia will continue to complete its accession procedures and obtain permanent membership after fulfilling the Financial Action Task Force's (FATF) membership process and criteria, the Paris-based group said in a statement.
The Kingdom has provided a high-level political commitment to reach the expected results within a reasonable timeframe and has prepared a plan of action to be reviewed by the FATF, it added.
FATF adopted the assessment of the Saudi Anti-Money Laundering and Terrorist Financing Framework in June 2018.
Last month, the group said that Saudi Arabia has a strong legal framework to implement targeted financial sanctions imposed by the UN on terrorists without delay.
In June 2015, FATF had unanimously adopted a resolution granting Saudi Arabia an observer seat, after a task force delegation commended the Kingdom's prominent role in combating money laundering, the financing of terrorism and the proliferation of armament.
Comments
{{DisplayName}}
{{ElapsedTime}}