Dubai: Saudi Arabia has announced that a fine of SR5 million will be slapped on violators of the recently amended anti-terrorism law, state press agency SPA said.
The rule follows the approval by the Council of Ministers of the amendment of Article 83 of the Law on Combating Terrorism Crimes and its Financing. It comes as part of the Kingdom’s intensified efforts to encounter terrorism and dry up resources of terrorist financing.
According to the new amendment, a maximum fine of SR5 million will be slapped on those who violate the anti-terror law.
Article 83 of the law on Combating Terrorism Crimes and its Financing stipulates punitive measures against the violators. They include issuing a written warning about the committed violation; issuing an order that includes compliance with specific instructions; issuing an order for the regular reporting of the measures taken to address the violation, and imposing a fine not exceeding SR5 million for each violation.
The penalties include banning the perpetrator from working in the sectors over which the supervisory authority has the mandate and power to monitor for a period determined by the supervisory authority.
It also includes restricting the powers of managers or members of the board of directors or members of the executive or supervisory management for appointing temporary controllers, suspending managers, members of the board of directors, or members of the executive or supervisory management in the event of committing violations by them.
The supervisory authority has the right to detect any violation of the law committed by financial institutions; designated non-financial businesses and professions or non-profitable organisations as well as their directors, or any members of the board of directors or members of the executive or supervisory management. The rule shall be applied without prejudice to any more severe penalty or any procedure stipulated in other laws.