Saudi Arabia Welcomes 3 European Countries’ Decision to Recognize State of Palestine

Saudi Arabia welcomed on Wednesday the decision of Norway, Ireland and Spain to recognize the state of Palestine. (SPA)
Saudi Arabia welcomed on Wednesday the decision of Norway, Ireland and Spain to recognize the state of Palestine. (SPA)
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Saudi Arabia Welcomes 3 European Countries’ Decision to Recognize State of Palestine

Saudi Arabia welcomed on Wednesday the decision of Norway, Ireland and Spain to recognize the state of Palestine. (SPA)
Saudi Arabia welcomed on Wednesday the decision of Norway, Ireland and Spain to recognize the state of Palestine. (SPA)

Saudi Arabia welcomed on Wednesday the decision of Norway, Ireland and Spain to recognize the state of Palestine.

The move “reflects the international consensus over the right of the Palestinian people to determine their fate,” it said.

It called on remaining countries to follow in their footsteps, which should help lead the way to a “trusted irreversible path that achieves just and lasting peace that secures the rights of the Palestinian people.”

The Kingdom underscored its call on the “international community, especially permanent members of the United Nations Security Council that have not yet recognized a Palestinian state, of the importance to do so.”

It reiterated that such a state should be based on the 1967 borders with East Jerusalem as its capital.

The Gulf Cooperation Council (GCC) also welcomed the recognition of the state of Palestine.

GCC Secretary General Jassem Mohamed Albudaiwi said the move is a “pivotal and strategic” step forward in implementing the two-state solution.

It also provides strong motivation for all countries to take similar steps, which will pave the way for the Palestinian people “to obtain all of their rights and live in peace after several years of oppression and dangerous violations under Israeli occupation.”

Albudaiwi called on the entire international community to “play their part in supporting the Palestinian people so that they can obtain their right of the establishment of an independent state.”



Kuwait Court Concludes Major ‘Malaysian Fund’ Money Laundering Case

Kuwait’s Court of Cassation, in its final ruling, sentenced the defendants to prison terms ranging from 7 to 10 years, ordered them to return $1 billion, and fined them $500 million (Asharq Al-Awsat)
Kuwait’s Court of Cassation, in its final ruling, sentenced the defendants to prison terms ranging from 7 to 10 years, ordered them to return $1 billion, and fined them $500 million (Asharq Al-Awsat)
TT

Kuwait Court Concludes Major ‘Malaysian Fund’ Money Laundering Case

Kuwait’s Court of Cassation, in its final ruling, sentenced the defendants to prison terms ranging from 7 to 10 years, ordered them to return $1 billion, and fined them $500 million (Asharq Al-Awsat)
Kuwait’s Court of Cassation, in its final ruling, sentenced the defendants to prison terms ranging from 7 to 10 years, ordered them to return $1 billion, and fined them $500 million (Asharq Al-Awsat)

Kuwait’s Court of Cassation on Thursday concluded the country's largest money laundering case, known as the “Malaysian Fund” scandal.

The court, led by Judge Saleh Al-Muraishid, sentenced Sheikh Sabah Jaber Al-Mubarak, son of the former Prime Minister, and his associates Hamad Al-Wazzan, Bashar Kiwan, and two expatriates to 10 years in prison.

A lawyer involved in the case received a seven-year sentence.

The court also ordered the defendants to return $1 billion and collectively fined them 145 million Kuwaiti dinars (about $500 million).

The “Malaysian Fund” case involves fake transactions and forged contracts between companies in Kuwait and China. Investigators from Malaysia and the US estimate that around $4.5 billion was embezzled from the fund since 2009, implicating the former Malaysian prime minister.

Kuwait’s Public Prosecution reopened the case after a two-year pause due to lack of information.

On March 28, 2023, the Criminal Court sentenced a member of the ruling family, his associates, and two expatriates to 10 years in prison, with a lawyer receiving seven years.

They were ordered to return $1 billion and fined 145 million Kuwaiti dinars.

The original case in Malaysia dates back to 2016 when US prosecutors filed a lawsuit to recover over $1 billion allegedly tied to a conspiracy to launder money from the Malaysian sovereign wealth fund 1MDB, overseen by former Malaysian premier Najib Razak.

The funds were used to finance a Hollywood film, buy real estate, and acquire famous artworks.

In May 2020, the scandal surfaced in Kuwait after US defense officials provided information to the late Kuwaiti Defense Minister, Sheikh Nasser Sabah Al-Ahmad, revealing the involvement of several former officials in suspicious financial transactions for Chinese and Malaysian companies.

Investigations in Kuwait showed nearly $1 billion had been transferred into the account of an influential Kuwaiti figure before being rerouted abroad.

The inquiry linked a Malaysian financial expert accused in the case to the son of a former Kuwaiti Prime Minister, and they collaborated to channel the funds through intermediary companies.

On July 10, 2020, Kuwait’s Public Prosecution ordered the arrest of Sheikh Sabah Jaber Al-Mubarak and his associate in connection with the “Malaysian Fund” case.