RIYADH: The Saudi Heritage Commission unveiled new findings this week that prove the Kingdom was a vital oasis eight million years ago.

Mesfer Alqahtani, archaeology consultant at the commission, said on Wednesday: “The core findings of this study is that the Arabian Peninsula was not always a desert, it underwent repeated humid phases that supported rich biodiversity and sustained both land and marine ecosystems, making it a natural bridge for the movement of species between Africa and Asia in the ancient world.” 

The SHC, in collaboration with leading local and international institutions, led a scientific mission that looked into the oxygen and hydrogen isotopes preserved in cave formations. It used a combination of dating techniques such as uranium-thorium and uranium lead analysis studies to document the longest-known record of ancient climate in the Arabian Peninsula, dating back about eight million years.

The study analyzed 22 speleothem samples extracted from seven desert caves located northeast of Riyadh near Shawayyah in Rumah governorate. The caves are locally known as Duhool Al-Samman. 

Experts at the SHC underlined that these findings provide clear evidence of recurrent humid and rainy periods in the region’s past. 

The study also found fossils pointing to the presence of a fertile environment.

Dr. Ajab Alotaibi, director general of the commission’s antiquities sector, said that the study highlighted the Arabian Peninsula’s crucial role as a corridor for the dispersal of organisms between Africa, Asia and Europe.

The study is part of the commission’s flagship initiative, the Green Arabia Project, which aims to explore the region’s natural and environmental history.

Michael Petralia, professor and director, Australian Research Center for Human Evolution, said: “Our archaeological work on the lakes of Arabia has now indicated that humans and early humans were in Saudi Arabia 500,000 years ago; that tells us immediately that Arabia acted as a crossroads between continents, between Africa and Asia, so this is a landscape that is very important in terms of documenting heritage, paleontology, archaeology, through time.”

The SHC-led findings have been published in the scientific journal, “Nature,” under the title “Recurrent humid phases in Arabia over the past 8 million years.” 

The research brought together 30 scientists from 28 organizations — local and international — including the Heritage Commission, the Saudi Geological Survey, King Saud University, the Max Planck Institute in Germany, Griffith University in Australia, and several universities and research centers across Germany, Italy, the UK and the US.

According to the SHC, the study marks a major milestone for the Green Arabia Project, one of Saudi Arabia’s most ambitious efforts to promote scientific research and document the natural and cultural heritage of the Arabian Peninsula.

These findings also offer valuable insights into restoring Saudi Arabia to its original, greener state, supporting pivotal projects such as Green Riyadh and the Saudi Green Initiative.

The project seeks to better understand how environmental and climatic changes have shaped the region across eras — contributing to a richer, more complete understanding of Saudi Arabia’s natural history.

Jasir Al-Herbish, CEO of the SHC, reaffirmed the commission’s commitment to advancing research and fostering international collaborations.

ISLAMABAD: Pakistan has introduced its first-ever policy framework to regulate virtual assets and service providers, aligning with compliance and financial integrity guidelines of the global Financial Action Task Force (FATF), the country’s top investigation agency said on Thursday.
The new policy, created by a special government group under the Anti-Money Laundering (AML) and Counter Terrorism Financing (CTF) authority, is meant to set rules for how digital money like cryptocurrencies and the companies that deal in it should operate in Pakistan.
The move follows the establishment of the Pakistan Crypto Council last month to create a legal framework to create a legal framework for cryptocurrency trading in a bid to lure international investment. 
Cryptocurrencies including bitcoin are not officially regulated in Pakistan but are also not illegal or banned. As of Jan. 16, 2021, the State Bank of Pakistan has not authorized any individuals or organizations to carry out the sale, purchase, exchange, and investment of virtual currencies, coins, and tokens.
“Pakistan has formulated its first-ever comprehensive policy framework for the regulation of Virtual Assets and Virtual Asset Service Providers,” the Federal Investigation Agency (FIA) said in a statement. 
The policy will be scrutinized by stakeholders and legislative proceedings before being implemented in phases from next year.
The policy aims to curb money laundering, terrorism financing, financial instability and the potentials of blockchain-based finance and also provide space for innovation and develop institutional expertise. 
“This is a paradigm shift in how Pakistan views digital finance,” FIA Director Sumera Azam was quoted in the statement as saying. “The policy proposal seeks to strike a historic balance between technological advancement and national security imperatives.”
She added that the framework aligned with FATF Recommendation 15 on compliance and financial integrity.
FATF Recommendation 15, titled “New Technologies,” ensures that AML and CFT frameworks are adaptable to emerging financial technologies, including virtual assets and virtual asset service providers.