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Saudi Transport Ministry Signs First-Time Performance Contracts

Saudi Transport Minister Saleh Al-Jasser speaking during the signing of the first performance contracts by government agencies (Asharq Al-Awsat)
Saudi Transport Minister Saleh Al-Jasser speaking during the signing of the first performance contracts by government agencies (Asharq Al-Awsat)
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Saudi Transport Ministry Signs First-Time Performance Contracts

Saudi Transport Minister Saleh Al-Jasser speaking during the signing of the first performance contracts by government agencies (Asharq Al-Awsat)
Saudi Transport Minister Saleh Al-Jasser speaking during the signing of the first performance contracts by government agencies (Asharq Al-Awsat)

The Saudi Transport Ministry has signed 62 performance contracts for road maintenance projects with several private sector companies. The projects will cover all regions of the Kingdom.

This is the first time performance contracts are being implemented by government agencies in the Kingdom.

Saudi Transport Minister Saleh Al-Jasser said that the contracts aim to raise the efficiency of the Kingdom’s road network and enhance quality and safety levels.

Al-Jasser said that the signing of performance contracts represents a stage of transformation and transition from the traditional methodology of operation and maintenance of the road network.

The new methodology in asset management relies on measuring performance indicators and meeting the needs of road users, added Al-Jasser.

Indicators that measure outputs of basic elements include quality, safety, and the degree of user satisfaction. These measurements will be used in evaluating and following up the performance of contractors.

This will strengthen governance programs, promote transparency, achieve spending efficiency, raise the quality and services index. It will also ensure implementing projects using the latest specialized global technology, added Al-Jasser.

All this falls under the goals of the Kingdom’s National Transport and Logistics Strategy (NTLS), which is a part of Saudi Arabia’s plan for national transformation, Vision 2030.

Al-Jasser indicated that the signing of performance contracts unlocked a new phase that accompanied the increase in major projects and the comprehensive renaissance taking place in the Kingdom.

According to the minister, Saudi Arabia is a global hub for transportation, trade, and economy.

Al-Jasser noted that the Transport Ministry is the first government agency to sign performance contracts for the maintenance of the Kingdom’s roads.

He affirmed that the ministry would continue to expand its partnership with the private sector, enhance quality rates and implement the highest safety and security standards.

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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.