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The Anti-Money Laundering Permanent Committee (AMLPC) was formed in accordance with the Council of Ministers Resolution No. (15) dated 3/5/1999 (17/1/1420H), stipulating the impleme​​ntation of the FATF Forty Recommendations to combat money laundering in accordance with the regulations in force in the Kingdom. The resolution entrusted the AMLPC with setting the necessary steps to implement the FATF Forty Recommendations and following up their imple​​mentation. This was followed by the Council of Ministers Resolution No. (278)​ dated  28/1/2002 (14/11/1422H), which mandated the AMLPC to consider and follow up all issues related to money laundering in the Kingdom and to report, to His Majesty the King, the obstacles and difficulties facing the concerned authorities in implementing the steps and procedures related to the 40 recommendations as well as making proposals and providing views to overcome such obstacles. 

Since its formation, the AMLPC has been working to enhance, streamline and develop the legal and institutional framework and related activities to keep pace with the international standards and level and type of risks. The AMLPC has made fundamental amendments to the Anti-Money Laundering Law to bring the legal framework in line with the FATF updated recommendations. These amendments are in accordance with the Royal Decree No. M/20 dated 26/10/2017 (5/2/1439H), stipulating the issuance of the Anti-Money Laundering Law that covers many international requirements and developments. The law was followed by the Implementing Regulations of the Anti-Money Laundering Law on 9/11/2017 (19/2/1439H).

The headquarters of the AMLPC is located at the Saudi Central Bank (SAMA) Head Office in Riyadh. The AMLPC is chaired by the Governor of the Saudi Central Bank. It holds its meetings monthly and exceptional meetings may be convened upon the request of the chairman or his deputy.