Riyadh: Most of the benami firms have taken advantage of commercial registrations in the name of Saudi women, which are being run by foreigners in violation of the country's laws, Commerce Ministry spokesman Abdurrahman al-Hussein said. Statistics show that benami business is more prevalent in commercial registrations in the name of women. A spokesman for the Ministry of Commerce said that women should be fully aware of the businesses they start using commercial registrations in their own name.
Last Tuesday, the Saudi cabinet passed a new law that would provide harsher punishments for those accused in the benami business case. The offenders face up to five years in prison and a fine of up to 50 lakh riyals.
No comments:
Post a Comment