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SDRPY Hosts Yemen Partners Meeting in Riyadh

The fourth consecutive time SDRPY has hosted the YPG meeting at its Riyadh headquarters - SPA
The fourth consecutive time SDRPY has hosted the YPG meeting at its Riyadh headquarters - SPA
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SDRPY Hosts Yemen Partners Meeting in Riyadh

The fourth consecutive time SDRPY has hosted the YPG meeting at its Riyadh headquarters - SPA
The fourth consecutive time SDRPY has hosted the YPG meeting at its Riyadh headquarters - SPA

The Saudi Development and Reconstruction Program for Yemen (SDRPY) hosted the Yemen Partners Group (YPG) meeting, co-chaired by the United Kingdom, the UN Resident Coordinator Office in Yemen, and the World Bank Group.

The meeting was attended by Yemen’s Minister of Planning and International Cooperation Dr. Waed Badhib, UN Resident and Humanitarian Coordinator in Yemen Julien Harneis, British Ambassador to Yemen Abda Sharif, German Ambassador to Yemen Thomas Friedrich, Japanese Ambassador to Yemen Yoichi Nakashima, along with representatives of regional and international organizations and donor countries.

Badhib expressed appreciation for the Kingdom’s efforts through SDRPY, highlighting its recent announcement in September 2025 for a new economic development package worth SAR1.3 billion to support Yemen’s economy and development.

SDRPY Assistant Supervisor-General and head of the Projects and Development Initiatives Sector Eng. Hassan Al-Attas praised the efforts of all participating countries and organizations, stressing the importance of collaborative work to overcome challenges and accelerate development in Yemen.

This marked the fourth consecutive time SDRPY has hosted the YPG meeting at its Riyadh headquarters, underscoring its commitment to joint efforts and addressing challenges to advance Yemen’s development.

The program also reviewed its ongoing initiatives, with a portfolio of 265 projects across eight vital sectors in various Yemeni governorates.

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Gulf

Saudi Arabia Regulates Management of Assets Seized in Money Laundering, Terrorism Financing Cases

Hamad Al Sheikh, Minister of State, Member of the Council of Ministers, and Chairman of the Board of the Commission for the Guardianship of Trust Funds of Minors and Their Counterparts. (SPA)
Hamad Al Sheikh, Minister of State, Member of the Council of Ministers, and Chairman of the Board of the Commission for the Guardianship of Trust Funds of Minors and Their Counterparts. (SPA)
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Saudi Arabia Regulates Management of Assets Seized in Money Laundering, Terrorism Financing Cases

Hamad Al Sheikh, Minister of State, Member of the Council of Ministers, and Chairman of the Board of the Commission for the Guardianship of Trust Funds of Minors and Their Counterparts. (SPA)
Hamad Al Sheikh, Minister of State, Member of the Council of Ministers, and Chairman of the Board of the Commission for the Guardianship of Trust Funds of Minors and Their Counterparts. (SPA)

Saudi Arabia has approved a new law governing the preservation and management of seized assets, aiming to protect them from misuse, concealment, or damage while safeguarding public and private interests and supporting the Kingdom’s economic and social development.

Hamad Al Sheikh, Minister of State, Member of the Council of Ministers, and Chairman of the Board of the Commission for the Guardianship of Trust Funds of Minors and Their Counterparts, said the Cabinet’s approval of the Law on the Management of Assets Seized and Confiscated in Money Laundering, Predicate Offenses, and Terrorism Financing Cases reflects the leadership’s commitment to strengthening the judicial and regulatory framework, improving government efficiency, and reinforcing governance and transparency.

Al Sheikh said the law protects rights, boosts confidence in government institutions, and supports the goals of Saudi Vision 2030 by establishing a comprehensive legal framework for managing seized and confiscated assets.

It defines the law’s scope, identifies the authorities responsible for implementation, and sets out the legal and procedural rules governing asset preservation and management.

He added that the legislation will improve the management of seized assets, maximize their economic value, enhance spending efficiency, protect public resources, and strengthen the Kingdom’s legal and investment environment.

It also promotes justice and transparency, safeguards the rights of individuals and stakeholders, and supports sustainable development and quality of life.

According to Al Sheikh, the law aligns with international best practices and demonstrates Saudi Arabia’s commitment to the standards of the Financial Action Task Force (FATF), reinforcing the Kingdom’s global standing in governance and institutional management.

Published in the official gazette, the 15-article law assigns the Authority responsibility for preserving and managing seized assets upon a court order and at the request of the competent authority.

Its board may set management policies, hire specialized Saudi public or private entities to manage assets requiring technical expertise, and open dedicated accounts at the Saudi Central Bank or licensed banks to hold seized funds.

Gulf

GCC Secretary-General Welcomes Omani Initiative on Strait of Hormuz, Condemns Iranian Threats

Secretary-General of the Gulf Cooperation Council (GCC) Jasem Albudaiwi. SPA
Secretary-General of the Gulf Cooperation Council (GCC) Jasem Albudaiwi. SPA
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GCC Secretary-General Welcomes Omani Initiative on Strait of Hormuz, Condemns Iranian Threats

Secretary-General of the Gulf Cooperation Council (GCC) Jasem Albudaiwi. SPA
Secretary-General of the Gulf Cooperation Council (GCC) Jasem Albudaiwi. SPA

Secretary-General of the Gulf Cooperation Council (GCC), Jasem Albudaiwi, welcomed Oman's announcement, made in coordination with the International Maritime Organization (IMO), to establish a temporary maritime corridor for vessels to facilitate the evacuation of more than 11,000 stranded seafarers in the Strait of Hormuz.

The initiative enhances freedom of navigation in the Strait in accordance with international law and the Law of the Sea.

The secretary-general praised this initiative, which embodies the wise approach pursued by the Sultanate of Oman in supporting regional security and stability, enhancing maritime safety and security, and consolidating the principles of international law, thereby contributing to ensuring the smooth flow of regional and international trade.

Albudaiwi expressed the GCC's rejection and condemnation of the claims issued by Iran and its threats to freedom of navigation in the Strait of Hormuz following the announcement.

He affirmed that the Omani step contributes to evacuating stranded seafarers and bolstering supply chains for both regional and global economies and reflects the GCC countries' support for all regional and international efforts aimed at enhancing maritime security, consolidating security and stability, and de-escalating tensions in the region.

Gulf

Saudi Foreign Minister Discusses Regional Developments with Jordanian Counterpart

Saudi Minister of Foreign Affairs Prince Faisal bin Farhan bin Abdullah
Saudi Minister of Foreign Affairs Prince Faisal bin Farhan bin Abdullah
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Saudi Foreign Minister Discusses Regional Developments with Jordanian Counterpart

Saudi Minister of Foreign Affairs Prince Faisal bin Farhan bin Abdullah
Saudi Minister of Foreign Affairs Prince Faisal bin Farhan bin Abdullah

Saudi Minister of Foreign Affairs Prince Faisal bin Farhan bin Abdullah received a phone call on Friday from Deputy Prime Minister and Minister of Foreign Affairs and Expatriates of Jordan Ayman Safadi, the Saudi Press Agency reported.

During the call, the two officials discussed the latest regional developments and ongoing bilateral coordination and consultation on related matters.