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Wed 30 May 2007 12:14 AM

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Saudi ups fight against dirty money

Travellers to the kingdom will be required to declare cash and jewellery worth more than $16,000.

Saudi Arabia will require travellers to declare cash and jewellery worth more than 60,000 riyals ($16,000) as part of measures to fight money laundering, a government official said on Tuesday.

The move, which will be implemented from Saturday, is part of measures drafted about four years ago to combat money laundering, the official Saudi Press Agency quoted customs chief Saleh al-Khiliwi as saying.

SPA said the restrictions would apply to travellers from and to the kingdom. It gave no further details.

Gulf Arab countries, including top world oil exporter Saudi Arabia, have been fighting money laundering, particularly since the September 11, 2001 attacks on the United States, but experts say dirty money is still around.

Iraq said in July that Gulf Arab states have promised to crack down harder on sources of funding for a bloody insurgency in Iraq.

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