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King Salman Approves Extending Deadline for Property Ownership Requests

Custodian of the Two Holy Mosques King Salman bin Abdulaziz (SPA)
Custodian of the Two Holy Mosques King Salman bin Abdulaziz (SPA)
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King Salman Approves Extending Deadline for Property Ownership Requests

Custodian of the Two Holy Mosques King Salman bin Abdulaziz (SPA)
Custodian of the Two Holy Mosques King Salman bin Abdulaziz (SPA)

The Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, issued a Royal Decree on Monday extending the deadline for receiving property ownership applications and amending the rules for considering such requests.

Minister of Finance Mohammad bin Abdullah al-Jadaan lauded the King’s decision, saying it proves the Saudi leadership’s interest in serving the citizens.

Jadaan, who is also Chairman of the Board of Directors of the General Authority of State Real Estate, praised the initiative of Crown Prince Mohammad bin Salman, Deputy Prime Minister and Minister of Defense, regarding ownership requests that do not exceed an area of 2,500 square meters (sqm) for residential and 5,000 square meters for agricultural lots.

The initiative eliminated the requirement of the aerial photographer of the property before 1387 AH, corresponding to 1967 AD. It enables the committees to consider citizens’ ownership applications following the conditions and controls.

Governor of the State Properties General Authority (SPGA) Ihsan Bafakih said the amended regulations include extending the period for receiving the applications for one year, starting Dec. 9, 2021.

The new regulations allow the continuation of accepting requests for formal amendments to real estate instruments, as well as adopting the closest aerial or space photography from Feb. 7, 1986, which the General Authority for Survey and Geospatial Information approved for the applications of area exceeding 2,500 and 5,000 sqm respectively for residential and agricultural plots.

The owner should provide documents that prove the area has been established before 1387 AH, corresponding to 1967 AD, and correct the records located within the boundaries of the Two Holy Mosques, issued before the Royal Decree in 1428 AH, corresponding to Sept. 13, 2007.

Bafakih pointed out that all ownership applications must prove the existence before 9-11-1387 AH and that the committees will not consider any application of a property that a judgment of final status has already been decided upon or within the sites where ownership may not be acquired under orders, regulations, and decisions, or that conflict with organization or planning, or any other development projects.

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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)
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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.