The Oversight and Anti-Corruption Authority (Nazaha) has signed a Memorandum of Understanding (MoU) with the Public Investment Fund (PIF).
The MoU was signed to enhance cooperation between the two parties in the fields of integrity protection, transparency promotion, and anti-corruption.
The deal aims to support Nazaha’s efforts to execute its statutory mandates concerning the fund and its subsidiaries, as well as to raise awareness about the concept of corruption and highlight its dangers and impacts. It emphasizes the importance of protecting integrity, promoting transparency, and fostering self-regulation.
The memorandum encourages the adoption of plans and programs to safeguard integrity, enhance transparency, and strengthen anti-corruption measures within the PIF and its affiliates.
It also includes the exchange of expertise and information to enhance governance, compliance, and anti-corruption principles, as well as the organization of workshops and training programs to raise awareness of compliance requirements and integrity principles among the fund’s employees and its subsidiaries.
Recently, Nazaha participated in the 16th session of meetings stemming from the United Nations Convention against Corruption (UNCAC), held at the United Nations headquarters in Vienna.
Nazaha affirmed that the Kingdom, in line with Saudi Vision 2030, which identifies governance, transparency, accountability, and anti-corruption as core pillars, and the directives of its political leadership, has adopted a comprehensive institutional approach to promoting integrity and fighting corruption, and noted that this approach is embodied in Nazaha, an independent body vested with broad powers to carry out its mandate and fulfill its responsibilities with impartiality.
