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Saudi Arabia freezes accounts of detained princes, businessmen

Saudi authorities have stated that they will be freezing the accounts of those detained on corruption charges, reported Al Arabiya.

The authorities said that no “preferential treatment” will be given and the cases will be handled as per procedure.

The Saudi Centre for International Communication stated that money in the frozen accounts which appears to be linked to corruption cases will be reimbursed to the Saudi state’s General Treasury.

Prominent princes and businessmen were detained in a probe by a new anti-corruption body on Sunday, only hours after its formation.

Saudi King Salman, by royal decree, announced the creation of a new anti-corruption committee chaired by his son Crown Prince Mohammed bin Salman on Saturday. Al Arabiya said the body had detained 11 princes, four current ministers and tens of former ministers.

The crown prince is spearheading an ambitious economic reform programme that aims to draw more foreign and private sector investment into the kingdom, which is the world’s top oil exporter and the most powerful country in the Gulf Arab region.