Saudi Arabia had made certain rules and regulations to bring about changes in economic stability. To avoid illegal business practices and legalize the business of the kingdom. Authorities of the country provided time institutions have indulged in Benami Trading to make corrections in commercial establishments and legalize their business. The deadline for the correction of Benami Trading in Saudi Arabia has expired a few months ago. The kingdom has started inspection against Benami trading companies under the National Anti-Benami project around the country. Authorities have warned that Benami companies that do not comply with the rules will not be left out. Authorities of the Kingdom of Saudi Arabia have tightened up the inspection around the country to legalize the business matters of the kingdom.

It has been directed to avoid illegal transactions by February. Authorities stated that everything should be fixed within the period. Many institutions have already corrected the status of Benami trading. As the deadline expired authorities had taken action against the companies. They have inspected around fifty thousand companies in the last few months, it includes textile industries, motor vehicle workshops, transportation service sectors, and so on. The punishment for indulging in Benami trading will be five years of imprisonment and a fine amounted fifty lakhs in Saudi Riyal. The properties in the company will be taken and the company can also be closed by authorities without further notice.

Business is changing to bring more opportunities across the world. Each country is bringing changes in its economy by bringing better rules and regulations. To stabilize the economic status of the kingdom, the business should ensure on the legal matter is compiled by the country.

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