Muscat: Oman’s elected Shura Council on Monday approved amendments to the Anti-Money Laundering and Financing of Terrorism Acts.

The amendments provide for heftier fines and penalties, including jail terms of up to 10 years and a fine of up to 50,000 riyals. The penalties will be doubled if an organised criminal group is involved.

Mohammad Al Zadjali, the head of the legal committee at the Shura Council, told Al Balad News Site that the new law boasts better provisions compared to similar laws in other countries of the Middle East.

Al Zadjali added that the issuance of the new law targeting money laundering and terror financing is meant to bolster internal security on the one hand while, on the other, track down offenders rapidly.

The amendments will be referred to the appointed State’s Council and then to the Council of Ministers for review before it is submitted to Sultan Qaboos for final approval.

Oman was assigned a score of zero in the global terrorism index, according to the Global Terrorism Index 2015 released recently by the Economics and Peace Institute.

In 2008, Oman introduced a law stipulating that anyone found to be involved in crimes related to terrorism and sectarianism would be jailed for a minimum of 10 years. Oman also signed the International Convention for the Suppression of the Financing of Terrorism in 2011.

No Omanis are known to have join the Daesh terror group, according to a report by the International Centre for the Study of Radicalisation and Political Violence (ICSR).