The Ministry of Commerce, in cooperation with the Riyadh Chamber, organized a workshop titled “Beneficial Ownership Rules” as part of its ongoing efforts to strengthen transparency and governance in the commercial sector, ensure the integrity of transactions, and prevent the misuse of commercial entities for unlawful practices.
The workshop highlighted the importance of implementing beneficial ownership rules to enhance disclosure of ownership and control structures within companies, and to raise transparency levels in line with international requirements. It also addressed the establishment of a comprehensive database for recording and maintaining information on beneficial owners, thereby reinforcing the integrity of the financial system and supporting confidence in the Kingdom’s business environment.