‘Saudi efforts to stop terrorist financing show mixed results’

Saudi Arabia has enacted new laws and regulations to block flow of money to terrorist organisations but stopped short of punishing individuals and groups funding terrorism, according to a report by a US organisation.

The report states that Saudi Arabia became more cooperative in the war on terrorism after the May 2003 bombing in Riyadh. New laws, regulations and institutions regarding money laundering, charitable donations and financial operations followed. Those laws regulations have not been implemented, leaving open opportunities for financing of terrorism. — (PTI)