Ramadan 2021 Sets Stage for Recovery of Hajj, Umrah Economies

Experts are predicting significant recovery for Hajj and Umrah businesses during Ramadan 2021, Asharq Al-Awsat
Experts are predicting significant recovery for Hajj and Umrah businesses during Ramadan 2021, Asharq Al-Awsat
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Ramadan 2021 Sets Stage for Recovery of Hajj, Umrah Economies

Experts are predicting significant recovery for Hajj and Umrah businesses during Ramadan 2021, Asharq Al-Awsat
Experts are predicting significant recovery for Hajj and Umrah businesses during Ramadan 2021, Asharq Al-Awsat

A little over a year after the coronavirus pandemic having hit markets around the world, signs of recovery are on the horizon for pilgrimage-centered economies in the Saudi cities of Makkah and Medina.

Experts are predicting a 40% recovery for Hajj and Umrah businesses during this year’s Ramadan season, which will last from mid-April to mid-May.

The number of foreign pilgrims expected to arrive in the Kingdom, which is home to Islam’s holiest sites, has increased substantially in 2021, compared to 2020.

Umrah is an Islamic pilgrimage to Makkah and Medina undertaken any time of the year. The rite attracted 19 million people in 2019.

Saudi Arabia halted the pilgrimage at the start of the pandemic in March 2020 but restarted it in limited numbers later in October.

“Although there are many precautionary measures that will limit the number of pilgrims gathering at holy sites, this Ramadan represents a vital transitional stage and tests how relevant sectors can gradually, but safely, return to working in full capacity,” said Muhammad Burhan, an active council member at the Mecca Chamber of Commerce & Industry (MCCI).

Burhan also noted that recovery in Hajj and Umrah markets is directly proportional to the rate of vaccinations introduced to potential pilgrims worldwide.

While Ramadan will slowly restore market activity in Makkah and Medina to its pre-pandemic rates, Burhan noted that the road towards full recovery will be revealed during the 2021 Hajj season, which starts in July.

Burhan also revealed that placing the pandemic under control and countries vaccinating their citizens will lead to a breakthrough that will inspire Muslims worldwide to make pilgrimage to holy sites in Saudi Arabia.

It is worth noting that the Kingdom launched its vaccine campaign in December and has administered more than four million doses so far.

More than 400 vaccination centers have opened since the nationwide campaign began with citizens and residents able to register for inoculations through the ministry’s Sehhaty app.



Saudi Arabia Launches Operations Room to Tackle Financial Fraud

An aerial view of Riyadh, Saudi Arabia (SPA)
An aerial view of Riyadh, Saudi Arabia (SPA)
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Saudi Arabia Launches Operations Room to Tackle Financial Fraud

An aerial view of Riyadh, Saudi Arabia (SPA)
An aerial view of Riyadh, Saudi Arabia (SPA)

Saudi Arabia’s cabinet, chaired by Crown Prince Mohammed bin Salman, has approved the creation of a dedicated operations room to receive and process financial fraud reports, in a move seen as a significant step forward in the Kingdom's fight against financial crime.
The initiative aims to strengthen the national security framework, improve response efficiency to financial risks, and boost investor confidence—key factors in enhancing the appeal of the Saudi market to international and domestic stakeholders.
The decision is part of broader efforts by the Kingdom to tackle financial fraud at both national and international levels, aligning with global standards and best practices.
Saudi legal and financial experts say the Kingdom’s decision to establish the operations room marks a transformative shift in the institutional framework for combating financial crime, with a direct executive role expected to accelerate response times and enhance criminal investigation efforts.
Speaking to Asharq Al-Awsat, experts said the move will bolster transparency and trust in Saudi Arabia’s financial system, helping to attract both domestic and foreign investment and reinforcing the country’s position as a secure economic hub.
Abdullah Alsahli, a core member of the Saudi Bar Association, described the cabinet's decision as a “pivotal step” in developing the Kingdom’s financial protection system and a practical move toward strengthening financial security and shielding the national economy from cross-sector financial crimes.
“This operations room—expected to be launched soon—will not just serve as another reporting channel, but will function as a high-level executive arm working in coordination with oversight bodies, foremost among them the Saudi Central Bank,” Alsahli said.
He explained that the room’s most notable feature is its direct link to victims of fraud, allowing individuals to report cases without having to go through lengthy banking or institutional procedures. This, he added, will ensure faster response to incidents as they occur.
“The significance of this room lies in its integration with an executive body empowered to conduct investigations and criminal tracking. It allows financial crimes to be addressed not only from a regulatory or administrative standpoint, but also from a judicial and security perspective,” Alsahli noted.
From a legal standpoint, Alsahli said the creation of the operations room represents a qualitative leap in the institutional fight against financial fraud. It introduces a parallel mechanism to the oversight role of the central bank and financial institutions, but with a distinct focus on investigation and prosecution.
“This shift means that fraud reports will no longer be limited to internal financial settlement procedures. Instead, they will be handled directly by competent bodies specialized in investigation, monitoring, and forensic analysis—enhancing deterrence and reducing leniency in fraud case handling,” he said.