Wednesday 8 November 2017

Saudis move to reassure jittery investors amid graft probe

Saudis move to reassure jittery investors amid graft probe:

"Saudi authorities have attempted to reassure jittery investors and others in the business community following the attorney-general’s decision to freeze up to 1,500 bank accounts of suspects detained in the corruption crackdown. Crown Prince Mohammed bin Salman instructed officials to ensure that activities of companies, “including those wholly or partly owned by individuals under investigation, were not disrupted while investigations into corruption were under way”, according to a statement by the Council of Economic and Development Affairs on Tuesday. The business community, both in Saudi Arabia and abroad, was becoming nervous about the impact on operations as the central bank and other financial regulators issued orders for accounts to be frozen."



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