Saudi billionaires looking for ways to transfer assets out of the country — Bloomberg

Saudi billionaires and millionaires looking for an opportunity to withdraw its assets from the region. This was reported by Bloomberg with reference to informed sources six.

Holders of large fortunes to sell their assets and turn them into cash or liquid reserves abroad, the sources told the Agency on condition of anonymity. According to them, the rich, the Saudis fear that their assets may be arrested under operation in the fight against corruption.

The withdrawal of assets from Saudi Arabia and other countries in the region with her close relations, discussed with banks, asset managers and financial advisors. Who is leading these negotiations, not reported.

A Bloomberg survey of Western experts noted that the Central Bank of Saudi Arabia has an efficient system of tracking the movement of funds and «great relationships with banks around the world», so it can achieve freezing of accounts and return of the removed assets, if it is proven their corruption.

November 4 in Saudi Arabia has created a new anti-corruption Committee. It was headed by crown Prince Mohammed bin Salman. The newspaper Al Arabiya reported the same day that the country on suspicion of corruption detained the 11 princes, four Ministers and dozens of former Ministers.

According to the Associated Press, the detained Prince-billionaire al-Waleed bin Talal one of the richest people in the middle East. Reuters reported that one of the detainees is a former Minister of Finance of Saudi Arabia Ibrahim al-Assaf. Among the detainees – a member of the Royal Council in charge of state oil company Saudi Aramco, and one of its Directors.

The U.S. edition of the Wall Street Journal, citing sources, reported that Saudi authorities are planning to confiscate detained on suspicion of corruption, cash and assets worth $800 billion.

Saudi billionaires looking for ways to transfer assets out of the country — Bloomberg 09.11.2017

Ноябрь 9th, 2017 by
36 queries