Riyadh - Mubasher: The Saudi Shura Council has approved an anti-concealment law on Monday, during its 50th ordinary session, chaired by the council’s chairman Abdullah Al Sheikh.

The project contributes to enhancing the economic policies and combating shadow economies, supporting the growth of the retail sector and improving its quality while limiting concealment sources, according to an official statement.

It further aims to protect investors, individuals, and society, and supports small and medium-sized enterprises (SMEs) and dismantle the obstacles they face in this respect.

Moreover, the system engages citizens to become active contributors in curtailing concealment crimes and also protects consumers from behaviours and practices that lead to the offering of goods and services that are unqualified and of poor quality. Furthermore, it outlines the means through which consumers can report concealment acts.

Meanwhile, the council approved a system to support faltered or faltering major financial institutions.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2020 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.