For violating Anti-Money Laundering and Counter-Terrorist Financing requirements The Insurance Authority imposes a financial penalty of SAR (500,000) on an insurance company
لمخالفتها التعليمات الخاصة بمتطلبات مكافحة غسل الأموال وتمويل الإرهاب هيئة التأمين تفرض غرامة مالية قدرها (500,000) ألف ريال سعودي بحق إحدى شركات التأمين
On 25/03/2026, the Insurance Authority issued a decision imposing a financial penalty of SAR 500,000 (five hundred thousand Saudi riyals) on an insurance company for violating Anti-Money Laundering and Counter-Terrorist Financing requirements related to monitoring and following up on operations and activities. The action was taken pursuant to Article 25 of the Anti-Money Laundering Law issued by Royal Decree No. (M/20) dated 1439/02/05 AH. The Authority stated the measure falls within its supervisory role over the insurance sector and its efforts to support transparency and financial stability in line with FATF recommendations.
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