Saudi Arabia sought to reassure investors on Tuesday (November 7th) that a sweeping anti-corruption purge would not affect businesses, including those with ties to arrested suspects, AFP reported.
Dozens of high-profile figures, including princes and ministers, were arrested at the weekend, in the biggest purge of the kingdom's elite in modern Saudi history.
The crackdown has triggered uncertainty among businesses that could intensify capital flight or derail reforms, experts say, at a time when the kingdom is seeking to attract investments amid a protracted oil slump.
Authorities have frozen the bank accounts of the accused and warned that any assets related to the corruption cases would be seized as state property.
"It is worth clarifying that concerned individual accounts rather than their corporate businesses have been put in suspension until final court rulings," central bank chief Ahmed Abdulkarim AlKholifey said in a statement.
"In other words, corporate businesses remain unaffected. It is business as usual for both banks and corporates," he said, adding that there were no restrictions on money transfers through legal banking channels.
Separately, Saudi commerce minister Majid al-Qasabi said that companies, including those owned by those who have been arrested, will be accorded "full protection" under the law.
Local media have reported new arrests of well-known businessmen since the weekend.
