IMF to set up its regional office in Saudi Arabia
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Roshan Amiri
- . January 25, 2023
- . Update: January 25, 2023 2:43 pm
The International Monetary Fund (IMF), a major financial agency of the United Nations, will set up its regional office in the Kingdom of Saudi Arabia (KSA).
The Saudi Shoura Council discussed several draft memorandums of understanding and agreements on the establishment of the IMF regional office in the country. During the meeting, the members of the council approved a draft MoU between the Saudi government and the IMF to support the development of the IMF’s regional office.
The Shoura Council, in its 18th Ordinary Session under the chairmanship of its Deputy Speaker Dr Mishal Bin Fahm Al-Sulami, voted to approve a draft MoU.
The council also approved a draft memorandum of understanding between the General Authority for Competition of Saudi Arabia and the Competition Authority of Egypt on combating monopolistic practices.
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It also voted to approve a draft memorandum of understanding between the Oversight and Anti-Corruption Authority of Saudi Arabia and the National Anti-Corruption Commission of Thailand in order to work together to prevent corruption.
Another MoU was approved between the government of Saudi Arabia and the government of South Africa to work in the fields of social development and maritime transport. It also approved a draft cooperation agreement between the government of Saudi Arabia and the Egyptian government to work together in order to combat crime.
Other draft memoranda approved by members included cooperation between the government of Saudi Arabia and Morocco in the field of mutual recognition of halal certification for local products, a draft memorandum of understanding between the Ministry of Tourism of Saudi Arabia and the Ministry of Heritage and Tourism of the Sultanate of Oman to work in the field of tourism, and a draft MoU between the Ministry of Culture of Saudi Arabia and the Ministry of Culture of the United Mexican States for cooperation in the cultural field.
