Raising Awareness About the Crime of Foreign Bribery
| Date(g): 9/11/2023 | Date(h): 26/4/1445 | Status: Guidance |
Translated Document
We refer to the receipt by the central bank of a letter from His Excellency the President of the Oversight and Anti-Corruption Authority, No. (15929/45), dated 01/04/1445H, which mentions the amendment of paragraph (7) of Article (8) of the Anti-Bribery Law to include the criminalization of bribing foreign public officials in relation to international business transactions. The letter also notes the Authority's work on an awareness booklet regarding issues related to the Crime of Foreign Bribery.
Therefore, and in line with the instructions issued by SAMA, including those outlined in The principles of conduct and work ethics in financial institutions, and given the awareness-raising potential of the aforementioned booklet regarding the seriousness of the crime of foreign bribery and ways to detect it, along with contact information for reporting such crimes, SAMA urges all financial institutions to review this booklet and benefit from its contents. Additionally, we would like to inform you of the Authority's readiness to hold remote workshops to raise awareness about the content of the aforementioned booklet.