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Anti-corruption drive would not hurt economy: Saudi Central bank

Commercial bankers told Reuters earlier on Tuesday that Saudi banks had frozen more than 1,200 accounts on the central bank's instructions

Reuters  |  DUBAI 

Saudi Arabia's central bank sought to reassure the business community on Tuesday that a sweeping anti-corruption investigation would not hurt the economy, saying companies and banks could operate as normal. At the request of the attorney-general, the central bank is freezing personal bank accounts of suspects pending court rulings on their cases, but it is not suspending operations of their companies, the bank said in a statement. "In other words, corporate businesses remain unaffected. It is business as usual for both banks and corporates," the central bank said, ...

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First Published: Wed, November 08 2017. 10:55 IST
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