NAB, Nazaha sign MoU to boost anti-corruption, asset recovery efforts

October 10, 2025 (MLN): In a significant move to deepen bilateral collaboration and enhance global accountability, the Islamic Republic of Pakistan and the Royal Kingdom of Saudi Arabia have signed a landmark Memorandum of Understanding (MoU) aimed at strengthening cooperation in the fight against corruption, money laundering and the recovery of stolen assets.

The agreement was signed by Mazin bin Ibrahim Al-Kahmous, President of the Oversight and Anti-Corruption Authority of Saudi Arabia (Nazaha), and Lt. General (Rtd) Nazir Ahmed, Chairman of the National Accountability Bureau (NAB) of Pakistan.

The signing took place during the inaugural session of the Asset Recovery Interagency Network for the MENA region (ARIN-MENA), held in Jeddah, Kingdom of Saudi Arabia, from October 8–9, 2025.

Under the MoU, both countries have agreed to enhance collaboration through information exchange related to corruption and money laundering, with a special focus on asset tracing and the recovery of proceeds of crime.

The agreement also envisions mutual cooperation in matters of Mutual Legal Assistance (MLA) and technical support in preparing MLA requests prior to their formal submission through diplomatic channels.

During the ceremony, Mazin bin Ibrahim Al-Kahmous commended NAB Pakistan for its strong role in the global fight against corruption, noting its innovative reforms that have led to unprecedented recoveries amounting to Rs6.4trillion (approximately  $23billion) in a relatively short span of time.

He also praised Chairman NAB Lt. Gen. Nazir Ahmed’s address at the MENA ARIN Forum, which effectively highlighted the shared challenges faced by nations in tackling corruption and illicit financial flows.

In his remarks, Lt. Gen. Nazir Ahmed (Rtd) lauded the Saudi leadership’s continued anti-corruption initiatives, describing them as a driving force for regional transparency and integrity.

He also acknowledged the recent landmark defence agreement between Pakistan and Saudi Arabia, terming it another milestone that will further strengthen the brotherly relations between the two nations.

The NAB Chairman extended an invitation to Mazin bin Ibrahim Al-Kahmous to visit Pakistan, stressing the commitment of both nations to deepen institutional collaboration and advance joint efforts in anti-corruption and asset recovery mechanisms.

This MoU is expected to bolster regional cooperation, enhance cross-border accountability, and set a precedent for joint action against financial crimes within the MENA region and beyond.

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