Jeddah – October 13, 2025 (Agencies) – In a significant step toward enhancing bilateral cooperation in accountability and financial transparency, Pakistan and the Kingdom of Saudi Arabia signed a landmark Memorandum of Understanding (MoU) on Monday to strengthen collaboration in the fields of anti-corruption, anti-money laundering, and recovery of stolen assets.
The MoU was signed during the inaugural session of the Asset Recovery Interagency Network (ARIN) for the Middle East and North Africa (MENA) region, held in Jeddah from October 8 to 9, 2025. The agreement was formalized by Lt. General (Rtd) Nazir Ahmed, Chairman of Pakistan’s National Accountability Bureau (NAB), and Mazin bin Ibrahim Al-Kahmous, President of Saudi Arabia’s Oversight and Anti-Corruption Authority (Nazaha).
Under the agreement, both agencies have committed to enhanced information exchange related to corruption and money laundering cases, asset tracing, and the recovery of proceeds of crime. The MoU also outlines cooperation in mutual legal assistance (MLA) and the provision of technical support for the preparation of MLA requests prior to their formal submission through diplomatic channels.
Speaking at the signing ceremony, President Mazin bin Ibrahim Al-Kahmous praised NAB’s efforts in the global fight against corruption, highlighting Pakistan’s recent recovery of 6.4 trillion Pakistani Rupees (approximately USD 23 billion) through innovative reforms. He commended Chairman Nazir Ahmed’s address to the ARIN MENA forum, which he said objectively addressed the shared challenges faced by states in combating corruption.
Chairman NAB, Lt. Gen. Nazir Ahmed, acknowledged Saudi Arabia’s leadership in launching successive anti-corruption initiatives that have revitalized regional cooperation. He also referenced the recent defense agreement between the two countries as a milestone in strengthening strategic and brotherly ties.
To further deepen bilateral engagement, Chairman NAB extended a formal invitation to President Al-Kahmous to visit Pakistan, aiming to expand institutional collaboration and reinforce the shared commitment to transparency and accountability.
The MoU is expected to serve as a cornerstone for future cooperation between Pakistan and Saudi Arabia in the global effort to combat financial crimes and promote good governance.