Summary of the report:
The Global Forum rated Saudi Arabia overall Largely Compliant with the international standard of transparency and exchange of information on request. This is the same rating that Saudi Arabia received in the 2016 report. Saudi Arabia received a modest number of 18 requests during the period under review (1 January 2015 – 31 December 2017). The report notes that these were not always answered in a timely manner and that Saudi Arabia did not effectively communicate with its exchange partners, and it recommends Saudi Arabia to improve its performance. In respect of the other areas covered, the report determines that the Saudi legal framework generally ensures the availability of relevant information and provides the appropriate powers to the competent authority to access the information. Nevertheless, certain areas for improvement were identified, including on the relatively large number of inactive companies that remain on the Commercial Register and on the enforcement and supervisory measures in respect of the availability of beneficial ownership information.
Read the news release
