saudi arabia
Saudi Arabia announced new regulations to eliminate the unscrupulous business practices in the country. Image Credit: File photo

Abu Dhabi: The Saudi cabinet has issued a decison authorising the Public Prosecution to put a travel ban on those held on charges of fraud, pending a final court ruling.

The move also stipulates that the Ministry of Interior, once a final judgment is issued convicting a non-Saudi of commercial fraud, shall deport the convict from the Kingdom and ban them from re-entering. This is in accordance with regulations set by the Ministry of Interior, the Ministry of Commerce and Ministry of Investment.

In light of its continuous crackdown on fraudulent business practices, Saudi Arabia issued another decision in an effort to curb commercial fraud. New regulations were unveiled to assist in eliminating unscrupulous business practices in the country, and such measures include more stringent penalties for offenders of up to five years in prison and a fine of up to SR5 million (around $ 1.33 million).