Imam Muhammad ibn Saud Islamic University, one of the leading academic institutions in Saudi Arabia, has reiterated its strong warning against the spread of fraudulent messages circulating on social media and digital platforms. These messages exploit the university's name and reputation to target individuals, with senders claiming to be international students, particularly from certain Arab countries, who have been accepted to study at the university and requesting urgent financial assistance to cover purported expenses such as tuition fees or visa processing fees.

The general context of digital fraud

These warnings come amid a growing global phenomenon of online fraud, where scammers exploit technological advancements to devise new methods to deceive victims. Prestigious educational institutions are a prime target for these scams due to their established reputations and the trust they command within the community. Scammers prey on people's compassion and desire to help students, making many vulnerable to falling prey to these deceptive messages. These practices align with the Kingdom's ongoing efforts to combat cybercrime and protect citizens and residents through specialized bodies such as the National Cybersecurity Authority.

Details of the warning and the university's responsibility

The university confirmed in its official statement that any financial transactions or interaction with these messages fall under the category of organized fraud and scams. It emphasized that it disclaims all responsibility for any information or advertisements published outside its official and verified channels, which include its official website and verified social media accounts. The university also announced that it reserves its full legal right to take the necessary measures and prosecute those spreading these rumors and false information, in cooperation with the relevant security authorities, to protect its reputation and the safety of the community.

The importance and expected impact of the warning

This warning is of paramount importance on several levels. Locally, it aims to protect community members from financial losses and raise awareness of modern fraud methods. Regionally and internationally, it contributes to maintaining the university's reputation as a trusted educational destination for international students and ensures that its name is not exploited in illicit activities that could harm the image of education in the Kingdom. It also sends a clear message to genuine international students to rely exclusively on the university's official channels for all their transactions, guaranteeing a safe and reliable experience from application to graduation. The university urges everyone to exercise extreme caution and immediately report any suspicious messages they receive through the designated official channels.

In a significant regulatory step aimed at enhancing transparency and efficiency in the financial sector, the Board of Directors of the Saudi Organization for Certified Public Accountants (SOCPA) has adopted new rules governing the practice of non-securities financial advisory services in the Kingdom. This decision establishes a clear professional framework for advisory services, specifying licensing requirements, compliance controls, and penalties for violations, thereby ensuring the protection of clients' interests and improving the quality of services provided.

Background of the decision and its importance in the context of Vision 2030

This new regulation is part of Saudi Arabia’s broader efforts to achieve the goals of Vision 2030, which prioritizes the development of the financial sector and economic diversification. By establishing rigorous professional standards, the Kingdom aims to build a robust and reliable financial services sector capable of attracting both domestic and foreign investment. Regulating a vital profession like financial consulting enhances investor and business confidence in the Saudi market, ensuring they receive professional advice based on expertise and integrity, thus contributing to sound financial decisions that support national economic growth.

Key conditions and requirements for obtaining a license

The authority has established a set of precise conditions to ensure that those practicing the profession possess the necessary competence and qualifications. The most prominent of these conditions can be summarized in the following points:

• Nationality and eligibility: The applicant must be a Saudi national and of full legal capacity.
• Academic qualification: Obtaining a bachelor's degree or higher qualification in accounting, finance, or funding, or completing a specified number of credit hours in these fields.
• Professional experience: Possessing at least 5 years of experience in the fields of auditing, accounting, or finance in the government, private, or non-profit sector.
• Vocational qualification: Passing the qualification and training programs determined by the authority.
• Criminal record: The applicant must be of good character and conduct and must not have been convicted of a crime involving moral turpitude or dishonesty.
• Full-time commitment: The rules stipulate full-time commitment to practicing the profession, with exceptions for non-full-time practitioners according to specific regulations.

It should be noted that a certified public accountant licensed to practice accounting and auditing is exempt from obtaining a separate license to provide these services, which facilitates the integration of accounting and consulting services.

Scope of services and professional obligations

The rules clearly define the scope of services covered by the license, excluding services regulated by other licensees, such as securities consulting or legal auditing. The licensee is bound by a set of professional obligations to ensure service quality, including:

• Performing the work himself and not delegating the signing of reports to someone else.
• Commitment to accuracy and transparency in all reports and data submitted.
• Keeping records and work papers for a minimum of 5 years.
• Not providing any services outside his area of ​​specialization and expertise.
• Place the license number in a prominent place at the workplace.

Monitoring mechanisms and penalties for non-compliance

To ensure compliance with the new rules, the authority has established a clear mechanism for monitoring and enforcing penalties against violators. A specialized committee will be formed to review violations, and penalties will be graduated according to the severity of the violation, including:

1. Warning: As an initial measure to alert about the violation.
2. Suspension from practicing the profession: for a period that may reach up to one full year.
3. License revocation: as a maximum penalty in cases of serious violations.

Those affected by the committee's decision have the right to appeal to the Administrative Court. The regulations also allow those whose licenses have been revoked to submit a new application three years after the decision's effective date, under the same terms and procedures as the initial issuance. These deterrent measures underscore the Authority's commitment to regulating the market and protecting all stakeholders.

In a move aimed at strengthening Saudi Arabia's position as a leading global center for breeding purebred Arabian horses, the Minister of Environment, Water and Agriculture, Engineer Abdulrahman Al-Fadhli, approved a set of new regulations and requirements for registering these prestigious bloodlines. These measures are designed to streamline the registration process and ensure the preservation of lineage purity, in accordance with internationally recognized standards.

Historical legacy and modern organization

Arabian horses hold a unique place in the cultural and historical heritage of the Kingdom and the Arabian Peninsula, having been associated with horsemanship and nobility throughout the ages. Accordingly, the King Abdulaziz Arabian Horse Center works to protect this great legacy by documenting their pedigrees and ensuring their purity. The new regulations are an extension of these efforts, aiming to align national records with the requirements of the World Arabian Horse Organization (WAHO), thereby enhancing the value and credibility of horses registered in the Kingdom internationally.

Key new registration terms and conditions

The approved regulations stipulate a set of precise conditions that horse owners and breeders must adhere to, most notably:

• Birth notification deadline: The owner must notify the center of the birth of any purebred Arabian foal within a maximum period of 90 days from the date of birth, while emphasizing the accuracy of the information provided.
• Naming requirements: The horse's name must be appropriate, not violate customs, traditions, or religious beliefs, and must not exceed 25 characters. Duplication of names is prohibited to ensure a unique identity for each horse, and the name may be linked to the officially registered stud farm.
• Proof of lineage: It is required that the father (stallion) and mother (mare) of the horse to be registered be officially registered in the approved horse pedigree records.
• Application procedures: The registration application is submitted electronically via the “Nama” platform (Aseel Services), with all required data and documents attached, such as the horse’s name in Arabic and English, and information about the father and mother.

Expected impact on the equestrian sector

These regulations are expected to have a significant positive impact on the equestrian sector in the Kingdom. Locally, they will contribute to greater transparency and reliability in production and registration processes, protecting breeders' rights and increasing the market value of their horses. Regionally and internationally, the implementation of these stringent standards will enhance the Kingdom's reputation as a leader in preserving the purity of the Arabian horse breed and open up broader opportunities for exporting Saudi horses and participating in international competitions and events with greater confidence.

Responsibilities and implementation mechanisms

The regulations stipulate that the applicant bears full responsibility for the accuracy of the submitted data. The center will process applications that meet the requirements within 30 days. Upon acceptance of the application and payment of the required fee, the official registration certificate will be issued. The regulations also emphasize the application of strict penalties, according to the approved schedule of violations, to anyone who violates these requirements, thus ensuring full compliance and maintaining the integrity of the pedigree records for purebred Arabian horses.