Navigating Saudi Arabia’s Anti-Bribery Landscape: A Business Perspective

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Summary:

Saudi Arabia's Anti-Bribery Law of 1992 aims to combat bribery in all its forms, with penalties for both the giver and receiver of bribes, particularly targeting public officials. The law requires companies to conduct thorough due diligence and have robust compliance programs to train employees on anti-bribery measures. However, interpretation and compliance can be complex due to cultural and local business practices differences. Cautionary case studies highlight the importance of understanding the law to avoid legal repercussions, fines, and reputational damage.