Custodian of the Two Holy Mosques King Salman has issued an order approving new financial settlement rules for individuals and entities involved in corruption cases, aimed at recovering embezzled funds and ensuring swift justice in such cases. Chairman of the Oversight and Anti-Corruption Authority (Nazaha) Mazen Al-Kahmous expressed his gratitude to King Salman and Crown Prince Mohammed bin Salman for approving these regulations. He stated that the rules will help restore misappropriated public funds and enhance the efficiency of investigations into and settlements of cases involving financial corruption. Al-Kahmous encouraged individuals to utilize the new settlement procedures, emphasizing they serve as a form of voluntary justice. He also confirmed that no criminal charges will be pursued against those who voluntarily agree to settlements of financial corruption offenses committed before the royal decree was issued. The newly approved regulations, which take effect immediately, grant Nazaha the authority to sign settlement agreements with individuals and entities who voluntarily report corruption cases that took place before November 4, 2017, and were previously undiscovered. Under the new rules, those who enter a settlement must return or recover stolen funds, including any proceeds generated from them, while also paying an annual penalty of five percent […]