Article 67 of the Saudi Counter-Terrorism Crimes and Financing Law
المادة 67 من نظام مكافحة جرائم الإرهاب وتمويله · الفصل السادس: التدابير
Article 67 requires financial institutions, designated non-financial businesses and professions, and non-profit organizations to set and effectively implement policies, procedures and controls to combat terrorist financing, with their content left to the Regulations.
Official text (Arabic)
This article has not been amended since the law was issued.
على المؤسسات المالية، والأعمال والمهن غير المالية المحددة، والمنظمات غير الهادفة إلى الربح وضع السياسات والإجراءات والضوابط وتنفيذها بفعالية لمكافحة تمويل الإرهاب بهدف الإدارة والحدّ من أي مخاطر محددة. وتحدد اللائحة ما يجب أن تتضمنه تلك السياسات والإجراءات والضوابط.
This is the official Arabic wording, the only legally binding version. We do not translate the law itself; the explanation below is ours. Official source: Bureau of Experts at the Council of Ministers
Article 67 explained in plain English
After the preceding articles required the entities addressed to assess risks and apply due diligence, this article requires them to have an organized internal framework.
Those addressed: financial institutions, designated non-financial businesses and professions, and non-profit organizations.
The obligation:
- Setting policies, procedures and controls to combat terrorist financing.
- Implementing them effectively; it is not enough that they be written on paper.
The aim: managing and limiting any identified risks.
The content: the article does not detail the content of these policies; it provides that the Implementing Regulations set what they must include.
This obligation covers non-profit organizations such as associations, not banks alone. It is preceded by Article 66 on enhanced due diligence with high-risk countries, and followed by Article 68 on correspondent relationships and wire transfers.
To prepare or review these policies, it is advisable to use a lawyer who specializes in banking compliance and combating terrorist financing.
Practical example
A charity in Dammam receives many donations. It must set written policies, procedures and controls to combat terrorist financing and actually apply them to its donations and expenditures, according to the content set by the Regulations.
Translated from our Arabic explanation with machine assistance. For guidance only; it does not replace advice from a lawyer on your situation.
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Dr. Ali Al-Rubaie Law Office and Ittihad Al-Asr Legal Company
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Frequently asked questions about Article 67 of the Saudi Counter-Terrorism Crimes and Financing Law
Are charities required to set policies to combat terrorist financing?
Yes. The article covers non-profit organizations alongside financial institutions and designated non-financial businesses and professions.
What must these policies include?
The article refers to the Implementing Regulations to set what the policies, procedures and controls must include.
Is having a written policy enough?
No. The article requires setting them and implementing them effectively.
More articles on Duties of Financial Institutions and Reporting
- Article 6
Article 6 lets the Public Prosecution, and the Presidency of State Security at the evidence-gathering stage, request records and information from any person or institution, and requires fast, accurate execution and confidentiality.
1- للنيابة العامة -من تلقاء نفسها أو بناءً على طلب رجل الضبط الـجنائي- أن تطلب من أي شخص أو من المؤسسات المالية، أو الأعمال والمهن غير المالية المحددة، أو المنظ
- Article 63
Article 63 requires financial institutions, designated non-financial businesses and professions, and non-profit organizations to identify, assess, document and continuously update their terrorist financing risks.
على المؤسسات المالية، والأعمال والمهن غير المالية المحددة، والمنظمات غير الهادفة إلى الربح؛ تحديد و فهم مخاطر تمويل الإرهاب لديها وتقييمها وتوثيقها وتحديثها بشك
- Article 64
Article 64 requires financial institutions and designated non-financial businesses and professions to apply due diligence measures according to the risk level, tighten them when risk is high, and leaves the details to the Regulations.
على المؤسسات المالية، والأعمال والمهن غير المالية المحددة؛ اتخاذ تدابير العناية الواجبة، وتحديد نطاقها على أساس مستوى مخاطر تمويل الإرهاب المرتبطة بالعملاء وعلا
- Article 65
Article 65 requires financial institutions and designated non-financial businesses and professions to keep all transaction records for at least 10 years and allows the Public Prosecution to require extending that period.
1- على المؤسسات المالية، والأعمال والمهن غير المالية المحددة؛ الاحتفاظ بجميع السجلات والمستندات والوثائق والبيانات بما فيها مستندات تدابير العناية الواجبة، لجمي
- Article 66
Article 66 requires applying enhanced due diligence to dealings with persons from or residing in high-risk countries, and applying the risk-mitigation measures set by the supervisory authorities.
على المؤسسات المالية، والأعمال والمهن غير المالية المحددة؛ تطبيق تدابير العناية الواجبة المشددة على علاقات العمل والمعاملات مع أي شخص يأتي من بلد أو يقيم فيه تم
- Article 68
Article 68 requires financial institutions to mitigate the risks of correspondent relationships with other financial institutions and to apply the Anti-Money Laundering Law's requirements to wire transfers.
1- على المؤسسات المالية اتخاذ التدابير المناسبة للتخفيف من المخاطر الناتجة عن الدخول في علاقة مراسلة مع مؤسسات مالية أخرى، والمحددة في نظام مكافحة غسل الأموال.
The texts are reproduced from the official website of the Bureau of Experts at the Council of Ministers for reference; where they differ, the officially published Arabic text prevails. This content is not legal advice.