ISSN 2330-717X

Saudi Arabia King Orders Tough Measures Against Commercial Fraud

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Custodian of the Two Holy Mosques King Abdullah has said a zero-tolerance approach will be applied to those who try to fix prices on certain consumer goods, reported the Saudi Press Agency.

The king reiterated his resolve to take stringent punitive measures against violators of regulations and instructions in this regard, said Commerce and Industry Minister Tawfiq Al-Rabiah.

The minister said King Abdullah has been closely monitoring the consumer market keenly.

King Abdullah of Saudi Arabia
King Abdullah of Saudi Arabia

He added: “During three meetings held in the first week of Ramadan, the king directed me to make available all goods and services to people at reasonable prices.

“The king also warned traders against resorting to any forms of commercial fraud.”

King Abdullah commended the ministry for the procedures taken with regard to real estate and other failed shared businesses.
Al-Rabiah said: “The king has directed to strive to find quick solutions for the affected shareholders and ensure their rights are upheld.”

The minister thanked King Abdullah for his continuous interest in consumers.

He added: “The king is always keen to make life easier for people as well as remove any hurdles to ensure an adequate supply of goods and services for all consumers while maintaining top quality and reasonable prices.”

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Arab News

Arab News is Saudi Arabia's first English-language newspaper. It was founded in 1975 by Hisham and Mohammed Ali Hafiz. Today, it is one of 29 publications produced by Saudi Research & Publishing Company (SRPC), a subsidiary of Saudi Research & Marketing Group (SRMG).

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