Kingdom Successfully Hosts Permanent Secretariat For MENA Asset Recovery Network To Combat Corruption

Saudi Arabia, through the Oversight and Anti-Corruption Authority (Nazaha), has successfully hosted the permanent secretariat of the Regional Asset Recovery Network in the Middle East and North Africa (MENA-ARN). This was officially established during the 39th meeting of the Middle East and North Africa Financial Action Task Force (MENAFATF).

The Camden Asset Recovery Inter-Agency Network (CARIN) Secretariat praised Saudi Arabia for hosting the permanent secretariat and taking on the network’s presidency in 2025. This announcement was made at CARIN's 20th general meeting in Paris on Friday.

The establishment of MENA-ARN marks a significant step in global asset recovery efforts. It increases the number of regional networks to nine, involving entities from 200 countries and territories. These include law enforcement agencies, investigative bodies, and prosecutors focused on tracing illicit funds across various crimes.

CARIN’s Secretariat acknowledged Saudi Arabia's role in initiating this network. They highlighted it as a pioneering international effort to combat corruption, crime, and enhance asset recovery worldwide.

Nazaha expressed gratitude to CARIN's Secretariat for its ongoing support. They also thanked MENAFATF member states for their trust in Saudi Arabia’s leadership of the network. The authority reaffirmed its dedication to achieving the network's goals and promoting effective cooperation across the MENA region.

This initiative strengthens international efforts against corruption while supporting sustainable development. By hosting MENA-ARN, Saudi Arabia plays a crucial role in enhancing global strategies for tracking and recovering assets.

The Kingdom's leadership in this area underscores its commitment to fostering collaboration among regional partners. This cooperation aims to improve asset recovery processes and combat financial crimes effectively.

With inputs from SPA