CSC’s Trade Committee & Ministry of Commerce Discuss Combating Commercial Concealment

2/15/2016

The National Committee on Trade at the Council of Saudi Chambers (CSC) held a meeting with General Director of the Commercial Fraud Combat Department at the Ministry of Commerce Eng. Omar Al Sehebani where the two sides discussed critical issues related to the trade sector.
Committee Chairperson Dr. Sulaiman Al Ayeeri explained that commercial concealment is a national burden that should be collectively combatted by joint efforts of the Public and Private Sectors, thanking Al Sehebani for partaking in the meeting and listening to committee members views on the matter.

Al Sehebani revealed that the Fraud Combat Department works according to Commercial Concealment Laws, explaining that the Ministry of Commerce is responsible for monitoring fraud, whereas the Bureau of Investigation and Public Prosecution is responsible for dispute settlements. The aim of these efforts is to enable citizens to practice free trade within a regulated, law-abiding environment. Suspect cases can be reported through specific phone numbers (1900) or smart phones via a specialized app. Reporters of fraud cases will get up to 30% of the collected fine.

Members of the committee shared their views on the impact of commercial concealment on national economy and especially the SMEs sector. They additionally proposed suggestions to counter it, which include raising awareness among investors, and firsthand supervision by business owners. It was noted that commercial concealment is more dominant in real estate, transportation, automobile oils, and retail, among other sectors.

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