Thomson Reuters Hosts 10th Annual Compliance and Anti-Money Laundering Seminar in Saudi Arabia

Thomson Reuters will host the 10th Annual Compliance and Anti-Money Laundering Seminar on September 26 & 27, 2018 in Riyadh, Kingdom of Saudi Arabia.

The seminar, which celebrates its tenth round this year, will take place in partnership with the Institute of Finance of the Kingdom of Saudi Arabia and under the patronage of His Excellency Dr. Ahmed Abdulkarim Alkholifey, Governor of the Saudi Arabian Monetary Authority (SAMA). With over 400 delegates in attendance and 35 high-profile regional and international speakers, the seminar is the premier compliance and Anti Money Laundering event for Saudi Arabia’s banking and financial services industry.

Thamer Alessa, Director General, The Institute of Finance, said: “We are pleased to host the 10th Compliance & Anti Money Laundering Seminar in collaboration with Thomson Reuters. We realize the importance of upholding sound compliance, responsible leadership, and anti-financial crime regulations, as well as growing ethical businesses. This year, the seminar will extend the dialogue to the corporate and capital market segments, as well as professionals, in addition to financial institutions.”

He added: “The seminar continues to serve as a unique platform for connecting the regulatory, governance, risk and compliance community with their regional and international counterparts, to exchange views, discuss common challenges and share best practices.”

Nadim Najjar, Managing Director, Middle East & North Africa, Thomson Reuters, said: “We are proud to say that after ten years of hard work this seminar has established and developed a sound and vibrant regulatory, governance, risk and compliance community in the GCC.”

“There is a growing need for compliance officers to anticipate regulatory change, think smarter about managing the associated risks, and maintain the visibility of regulatory efforts at a high managerial level. MENA compliance departments are still juggling competing priorities, dealing with constant change, and addressing the increasing demand on budget and resources. Effective compliance programs will continue to demand a balance of technology with human intervention to ultimately serve to manage the risks associated with operating in the region,” he added.

Mr. Najjar concluded: “We believe that Know Your 3rd Party (KY3P) will become increasingly central to regulatory and tax compliance in the near future, which means that human capital and specialist skills in this area will continue to be sought after.”

The event is taking place this year in partnership with Banque Saudi Fransi, Samba Financial Group, Saudi British Bank, Al Rajhi Bank, Gulf International Bank, Arab National Bank, FinScan, and Riyad Bank.