Saudi Banks And Businesses Feel Effects Of High-Profile Detentions
Saudi banks and businesses are feeling the effects of the government's detention of some of its wealthiest citizens. But the government stands to gain billions if detainees opt to buy their freedom.
On the evening of Saturday, Nov. 4, the authorities in Saudi Arabia began rounding up dozens of businessmen, ministers and princes. It was a striking start to an anti-corruption campaign spearheaded by the young and powerful Crown Prince Mohammed bin Salman.
Among those detained was Prince Alwaleed bin Talal, a multi-billionaire and the founder of a key Saudi investment firm, Its interests include broadcasting and media, banking and
