By Staff writer
Move is part of the royal’s humanitarian and philanthropic activities during Ramadan
Saudi Arabia’s Prince Alwaleed bin Talal has secured the release of 1,059 Saudi and Egyptian prisoners by paying off their debts, it was reported.
The offer during the holy month of Ramadan was through the prince’s Alwaleed Bin Talal Foundations.
The move was part of the prince’s “commitment to helping insolvents and releasing the detainees to ensure their safe return to their families during Ramadan where Muslims are seeking to do good,” Arab News reported.
The Alwaleed Bin Talal Foundations is involved in a wide range of humanitarian and philanthropic activities in more than 84 countries.
Prince Alwaleed, who topped the Arabian Business Rich List last year with a net worth of $31.2 billion, owns 95 percent of his Kingdom Holding Company, which has diverse investment interests, including stakes in hotel management companies including Four Seasons Hotels & Resorts, Movenpick Hotels & Resorts and Fairmont Raffles Holding, as well as shares in Citigroup and News Corp.For all the latest banking and finance 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.