Saudi Gazette report

BURAIDAH — Abdul Rahman Al-Hussein, spokesman of the Ministry of Commerce, has identified unfair practices in the market and transfer of huge amount of money abroad by expatriates as among the major fallouts of commercial cover up (tasattur).

“Remittances of expatriates to outside the Kingdom have reached SR150 billion,” he said while citing the latest statistical figures.

The ministry spokesman revealed this during the weekly session hosted by Al-Qassim Emir Prince Faisal Bin Mishaal Bin Saud at Al-Tawhid Palace. This week’s session was titled “Commercial cover up and its impact on the economy and national security.”

Speaking on the occasion, Prince Faisal underlined the need for joint efforts and cooperation in putting an end to the phenomenon of commercial cover up.

“All people would stand united in combating cover-up, and the government agencies would bring about positive results in combating it and creating jobs for the sons and daughters of the country,” the emir said.

In his speech, Al-Hussein noted that commercial cover-up enables non-Saudis to engage in unlicensed economic activities for their own personal benefit. He also attributed the decrease in job opportunities for male and female citizens to the commercial cover up activities.

The spokesman said that there are provisions in the new law, which is part of the National Program to Combat Commercial Cover-up, to award stringent penalties to the violators, and that include fines of up to SR5 million and imprisonment for a period of up to five years.

“The ministry welcomes legal foreign investors who have licenses to practice their activity, and the requirements of foreign investors will be applied to them,” he said.

A documentary film was screened during the event. The film focused on the major achievements in the fight against tasattur in the region.

The corrections made with regard to tasattur in the region resulted in achieving annual revenues worth over SR40 million and transfer of more than 100 cases of violations to the prosecution, it was explained in the film.