Saudi authorities seize SR176 million in money laundering probe

Saudi authorities seize SR176 million in money laundering probe. (REUTERS)
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Updated 27 March 2021
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Saudi authorities seize SR176 million in money laundering probe

  • The convicts were found guilty of money laundering and fined SR166 million ($42 million), and sentenced to a total of 51 years in prison

RIYADH: Public Prosecution investigations have revealed that 11 convicts of Arab nationalities and two citizens were involved in money laundering and smuggling.

The convicts used the accounts of commercial institutions in the contracting field to deposit funds and receive transfers from local banks to transfer them later to banks abroad, in exchange for a 5 percent commission for each transfer.

Following investigations, the convicts were found guilty of money laundering and fined SR166 million ($42 million), and sentenced to a total of 51 years in prison.

The Public Prosecution also seized SR176 million, along with SR700,000 in cash and funds deposited in the convicts’ personal accounts that exceeded SR7 million.

The Public Prosecution canceled the commercial registrations of four entities and deported the foreign convicts after serving their full sentence, and banned them from entering the Kingdom again. It imposed a travel ban on the citizens after being released from prison for the same period as their sentence.

The Public Prosecution confirmed that it is closely following up and monitoring activities that threaten the national economy in cooperation with relevant authorities.


Taif festival celebrates Saudi Arabia’s literary icons

Updated 11 January 2026
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Taif festival celebrates Saudi Arabia’s literary icons

  • It introduces visitors to the contributions of literary pioneers through accessible visual and narrative content

TAIF: A special section highlighting key Saudi literary figures forms part of the Writers and Readers Festival in Taif.

The area explores the lives of distinguished writers, poets, and authors who have shaped the Kingdom’s creative landscape, influencing literature, journalism, theater and intellectual thought.

It introduces visitors to the contributions of literary pioneers through accessible visual and narrative content, the Saudi Press Agency reported on Sunday.

Organized by the Literature, Publishing and Translation Commission, the festival runs until Jan. 15 and features 42 prominent publishing houses from Saudi Arabia and overseas, offering visitors the chance to explore the latest works in literature, philosophy and general knowledge.

Meanwhile, the festival’s interactive murals section engages visitors with openwork art panels, allowing them to contribute to the city’s features and identity.

The murals depict Taif’s natural and historical landmarks, including Al-Hada Mountain, the Taif rose gardens, and traditional Hijazi palaces. Others are inspired by Souq Okaz, a historic literary and commercial center linked to the region’s poetic heritage.

Designed by a visual artist, they blend folk-inspired elements with imaginative expression, creating a collaborative experience that celebrates the city’s beauty and brings art closer to the public.