JEDDAH: Pakistan and Saudi Arabia signed a memorandum of understanding (MoU) on Thursday to strengthen cooperation in combating corruption, money laundering, and the recovery of stolen assets, as both nations seek to strengthen institutional cooperation and cross-border accountability.
The MoU was signed by Mazin bin Ibrahim Al-Kahmous, President of Saudi Arabia’s Oversight and Anti-Corruption Authority (Nazaha), and Lieutenant General (Retd) Nazir Ahmed, Chairman of Pakistan’s National Accountability Bureau (NAB), during the inaugural session of the Asset Recovery Interagency Network for the MENA region being held in Jeddah from October 8 to 9, according to an official statement.
“Under this MoU, both agencies have agreed to strengthen collaboration through the exchange of information related to corruption and money laundering,” the statement read.
The agreement envisions mutual cooperation in matters related to mutual legal assistance (MLA), and extending technical support for the preparation of MLA requests prior to their submission through diplomatic channels.
Speaking on the occasion, Mazin bin Ibrahim Al-Kahmous lauded NAB efforts in the global drive against corruption, especially the innovative reforms that have yielded unprecedented recoveries of 6.4 trillion Pakistani Rupees equivalent to 23 billion USD in a short span of time.
He particularly praised Chairman NAB’s address to the MENA ARIN forum that objectively covered the challenges faced by all states in curbing corruption.
Lt General Nazir Ahmed, speaking on the occasion lauded Saudi leadership in taking successive anti-corruption initiatives that has rejuvenated regional anti-corruption efforts.
He also praised the recent land mark defence agreement between the two countries that will further augment the brotherly ties between the two countries.
Chairman NAB extended an invitation to Mazin bin Ibrahim Al-Kahmous, the president of Nazaha to visit Pakistan to further cement bilateral cooperation and brotherly ties.
