Saudi Arabia has promulgated a new law to combat the scourge of terrorism and dry up terror funding, Arab News reported.
The 26-article legislation, which came into effect, aims to protect Saudi Arabia from terror attacks and maintain national security.
The new law clamps down on the use of charities and non-profit institutions as facades to cover the funding of terrorist activities.
It mandates prosecutors to request records or documents from suspicious institutions and compels charities to implement provisions of the counter-terrorism law.
In 2018, the Financial Action Task Force (FATF), an intergovernmental organisation, issued a report, commending Saudi's strenuous efforts to combat money-laundering, terrorism funding and arms proliferation.
Under the anti-money laundering law which was promulgated in 2017, violators convicted of such crimes face jail terms from three and 15 years and a fine of up to SAR7 million ($1.87 million).
Saudi Arabia, a founding member of the Global Counter-terrorism Forum, provided €100 million ($117 million) to fight terrorism in the Sahel countries in Africa.