Riyadh: The Ministry of Finance has announced the commencement of the Financial Control Law, which was issued by the Council of Ministers under Resolution No. (M/122), effective December 1, 2025. This initiative is part of broader efforts to develop the public financial oversight framework and enhance its efficiency in alignment with the objectives of Saudi Vision 2030. The new law will replace the existing Financial Representatives Law.
According to Saudi Press Agency, alongside the implementation of the law, the ministry has issued its implementing regulations. These regulations outline the application mechanisms and enable government entities to adopt modern oversight approaches that suit the nature and scale of their operations.
The scope of the Financial Control Law includes agencies funded by the Saudi budget, or those that receive support, grants, or subsidies from the state. It also applies to entities that carry out works or procurements on behalf of a government agency.
The Financial Control Law employs a combination of oversight approaches, including direct control, self-control, digital control, and report-based control. These approaches are tailored to the nature of different agencies' activities and are aligned with international best practices in financial oversight.