More Than 1200 Private Bank Accounts Have Been Frozen In Saudi Arabia As Directed By The Crown Prince

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During the recent reported arrests of high-profile businessmen and princes in Saudi Arabia, the world was caught by YET another surprise this week. According to several media outlets, bank accounts of said people have also been frozen during this investigational period. 

The freezing of bank accounts are only being done to these people’s personal private accounts and not their company’s they own

The Saudi Arabian Monetary Agency told news agencies that only private accounts were being frozen, due to the anti- corruption committee, excluding the corporations they are associated with. 

The Kingdom is looking to easing the tension with global investors looking at investing into Saudi Arabia 

Bloomberg reports that more than US $33 Billion in personal wealth have been frozen 

That’s the accumulated amount for all the reported detainees’ personal accounts. 

Saudi Gazette reports that there is “no preferential treatment” in the handling of these cases

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