Saudi Arabia: Producers, Importers Compelled to Specify Water Rationalization Average

Image used for illustrative purpose An Asian worker carries a water bottle at his accommodation in Qadisiya labour camp, Saudi Arabia August 17, 2016. Picture taken August 17, 2016. REUTERS/Faisal Al Nasser
Image used for illustrative purpose An Asian worker carries a water bottle at his accommodation in Qadisiya labour camp, Saudi Arabia August 17, 2016. Picture taken August 17, 2016. REUTERS/Faisal Al Nasser
TT
20

Saudi Arabia: Producers, Importers Compelled to Specify Water Rationalization Average

Image used for illustrative purpose An Asian worker carries a water bottle at his accommodation in Qadisiya labour camp, Saudi Arabia August 17, 2016. Picture taken August 17, 2016. REUTERS/Faisal Al Nasser
Image used for illustrative purpose An Asian worker carries a water bottle at his accommodation in Qadisiya labour camp, Saudi Arabia August 17, 2016. Picture taken August 17, 2016. REUTERS/Faisal Al Nasser

Starting the beginning of next year, Saudi Arabia will be demanding that producers and importers specify the water consumption rationalization average in their products.

Saudi Standards, Metrology and Quality Org. (SASO) Deputy Governor Saud al-Askar announced that the obligatory implementation of the technical list of water rationalizing tools will start on Jan.1 2018.

This came during a news conference for SASO, Ministry of Environment, Water and Agriculture, Ministry of Commerce and Investment, Saudi Customs, Ministry of Energy, Industry and Mineral Resources and National Water Company at the headquarters of SASO in Riyadh.

Askar affirmed that the relevant government parties will start with the beginning of next year obliging importers and producers to place a card that shows the average of water consumption rationalization for every product mentioned on the list.

These parties have granted all those concerned an adequate time before the list becomes applicable so that they enjoy the chance to fulfill all demands of the list. In coordination with commerce chambers, SASO held introductory workshops.

Breaching this list would make violators probe to sanctions, said Askar as he urged producers and importers to register soon in the e-system on SASO website.

Undersecretary of Ministry of Environment, Water and Agriculture for Agricultural Affairs Dr. Faisal al-Subaie pointed out that there is a scarcity in water storage in the kingdom, and this mounts the importance of
rationalizing consumption and reinforces sustainability of natural resources.



Lebanon Central Bank Signs Deal with US Risk Management Advisory Firm to Combat Illegal Activity

A view shows Lebanon's Central Bank building in Beirut, Lebanon January 12, 2023. (Reuters)
A view shows Lebanon's Central Bank building in Beirut, Lebanon January 12, 2023. (Reuters)
TT
20

Lebanon Central Bank Signs Deal with US Risk Management Advisory Firm to Combat Illegal Activity

A view shows Lebanon's Central Bank building in Beirut, Lebanon January 12, 2023. (Reuters)
A view shows Lebanon's Central Bank building in Beirut, Lebanon January 12, 2023. (Reuters)

Lebanon's central bank signed an agreement on Monday with US risk management advisory firm K2 Integrity aimed at combating illegal activities and fraud, according to a statement.

The agreement is part of the central bank's efforts to come off the global financial crime watchdog FATF's "grey list" of countries under special scrutiny.

FATF placed Lebanon on the list last October.