2023-05-01 18:56:19
RIYADH: New regulations have come into effect for raising funds for charity in Saudi Arabia. Only licensed institutions and Saudi nationals are now allowed to raise funds. There is also a provision not to accept money from abroad.
The new law aims to increase transparency in collecting donations and prevent crimes including money laundering. Those intending to raise funds must first obtain a license from the Ministry of Human Resources. Later you have to open a bank account for this.
The authority also clarified that all information related to this should be submitted to the ministry. The Ministry of Human Resources reserves the right to revoke the license, stop collection of contributions and confiscate income in case of violation of license conditions. The license is valid for one year. Licensed NGOs can collect donations through their headquarters or branches.
There is also a provision not to accept money from abroad. Do not accept cash or checks from outside the country without special permission. The law also states that no donation should be made to a person or organization outside the country without the permission of the concerned department.
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