Cash settlements from a Saudi anti-corruption campaign in 2019 are predicted to be "not significantly less" than the $13.3 billion collected this year, it has been reported.
Saudi Arabia’s finance minister Mohammed al-Jadaan made the comment in an interview with Reuters.
He also said that the kingdom’s sovereign wealth fund, the Public Investment Fund, has no role in a company that is managing assets seized through settlements from the dozens of Saudi elite detained last year.
His comments come just days after it was announced that Saudi-Ethiopian billionaire Mohammed Al Amoudi is in the custody of authorities and has been charged with corruption and bribery.
The confirmation came more than a year after the tycoon was held in the kingdom’s anti-corruption campaign.
Al Amoudi was detained in Riyadh’s Ritz-Carlton hotel last November along with dozens of princes, officials and businessmen as Crown Prince Mohammed bin Salman declared a campaign against corruption.
Most of the detainees were released earlier this year; however several high-profile figures are still being held. The government has never officially announced who was freed, who remains in custody or what charges they face.For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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