In a monumental move to combat commercial concealment, Saudi Arabia has undertaken a transformative initiative, rectifying more than 450,000 commercial registrations in 2023 by intricately linking them to commercial bank accounts. This significant overhaul, spearheaded by the National Program for Combating Commercial Concealment, aims to bring about transparency and accountability in the business sector.
The meticulous correction of data has resulted in the issuance of 6,000 licenses specifically tailored for goods transport activities. These licenses serve to establish a seamless connection between the authorized transport entities and the corresponding commercial records within the transport sector. Simultaneously, a crackdown on non-renewal has led to the cancellation of over 650,000 municipal licenses.
The year 2023 witnessed an unprecedented 85,783 inspection visits to various establishments, driven by indicators and suspicions of concealment. In a bid to enhance the scrutiny of concealment cases, a specialized division dedicated to combating commercial concealment has been instituted within the criminal courts, underscoring the government’s commitment to eradicating illicit practices.
In a unique approach to raising awareness, Friday sermons in mosques across the Kingdom were strategically devoted to educating the public about the inherent dangers and risks associated with the crime of commercial concealment. This multifaceted strategy reflects Saudi Arabia’s holistic efforts to instill transparency, accountability, and ethical business practices throughout the nation.
