Saudi Arabia

Saudi banks freeze accounts of suspects detained in probe

WAM /Riyadh
Filed on November 8, 2017 | Last updated on November 8, 2017 at 10.18 am
Saudi Crown Prince Mohammed bin Salman
Saudi Crown Prince Mohammed bin Salman


Two of the sources said the number of accounts affected could run into hundreds.

The Saudi Arabian Monetary Agency has announced the freezing of the accounts of suspects detained as part of an anti-corruption probe in the country. 

The agency explained that the bank accounts frozen were personal accounts of suspects and do not include accounts of companies they own. 

A statement from the agency said that banks were informed that any previous suspensions of company or institution accounts owned by the suspects have been lifted, and that there are no restrictions on money transfers through proper banking channels. 

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