Saudi Gazette report

RIYADH — The Oversight and Anti-Corruption Authority (Nazaha) on Tuesday signed a memorandum of understanding (MoU) with the Public Investment Fund (PIF) to enhance cooperation between the two in the fields of integrity protection, transparency promotion, and anti-corruption.

The MoU aims to support Nazaha’s efforts to execute its statutory mandates concerning the fund and its subsidiaries, as well as to raise awareness about the concept of corruption and highlight its dangers and impacts. The deal emphasizes the importance of protecting integrity, promoting transparency, and fostering self-regulation.

The memorandum encourages the adoption of plans and programs to safeguard integrity, enhance transparency, and strengthen anti-corruption measures within the PIF and its affiliates. The MoU also includes the exchange of expertise and information to enhance governance, compliance, and anti-corruption principles, as well as the organization of workshops and training programs to raise awareness of compliance requirements and integrity principles among the fund's employees and its subsidiaries.