Upon the request of the Attorney General, the Saudi Arabian Monetary Authority reserves the accounts of persons accused of corruption cases

11/8/2017 12:00 AM

                At the request of the Attorney General, the Saudi Arabian Monetary Authority has seized the accounts of persons accused of corruption cases, which are the cases currently under consideration by the Supreme Committee for Combating Corruption formed by Royal Decree No. A / 38 issued on 2/15/1439 AH.

                SAMA clarifies that the bank accounts that have been seized belong to individuals related to corruption cases and do not include bank accounts of companies in which they have ownership. SAMA points out that banks have been informed to lift the reservation on the accounts of these companies and institutions after canceling the authorizations granted to the accountable persons. SAMA confirms that companies and institutions operating in the Kingdom benefit from all financial services as usual, including conducting internal and external transfers without any restrictions.

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