Saudi anti-corruption purge: All the latest updates

On November 4, Saudi Arabia began a new “anti-corruption” purge. Here are the latest developments since:

  • Saudi Arabia reassures investors. Saudi Arabia’s Ministry of Commerce and Investment issued a statement on Tuesday reassuring investors that the sweeping arrests would not affect businesses.
  • “The rights of individuals and legal entities, public funds, and private companies and institutions, including those owned by some of the accused and detainees,” the statement reads.

  • More accounts frozen. Citing private sources, Bloomberg reported on Tuesday that Saudi’s central bank froze dozens of individuals who aren’t under arrest.

  • The sources also claimed that the Saudi Arabian Monetary Authority sent a list with hundreds of names to lenders, telling them to freeze any accounts linked to them.

  • Trump welcomes Saudi arrests. US President Donald Trump expressed “great confidence” in Saudi leaders on Monday. “They know exactly what they are doing,” Trump tweeted.

  • Anti-corruption probe widens. Nasser bin Aqeel al-Tayyar, the founder of Al Tayyar Travel is reportedly detained in an investigation by the new corruption body.

  • According to Reuters news agency, Al Tayyar Travel, one of Saudi Arabia’s biggest travel companies, said in a statement: “The company confirms the continuation of its business to serve the interests of its shareholders and customers.”

  • Houthis offer asylum to Saudi princes. Houthi rebels said on Sunday that they are willing to offer Saudi Princes political asylum in Yemen. 

November 4, 2017

  • Saudi Arabia princes detained. Saudi Arabia dismisses a number of senior ministers and detained nearly a dozen princes in an investigation by a new anti-corruption committee.

  • In a statement released by the official Saudi news agency SPA, King Salman bin Abdulaziz Al Saud alludes to the “exploitation by some of the weak souls who have put their own interests above the public interest, in order to illicitly accrue money” for the creation of the anti-graft committee.

  • The body has the power to issue arrest warrants and “prevent their remittance or transfer by persons and entities, whatever they might be”, according to the statement.

  • Prince Alwaleed bin Talal, a billionaire businessman who owns investment firm Kingdom Holding, Prince Mitaab bin Abdullah, the head of the National Guard, and Adel Faqih, the economy minister were among those held.