Mohammed Al-Jadaan, the Saudi Arabian Finance Minister has made interesting revelations while attending the World Economic Forum in Davos.
According to the Arab News, Al-Jadaan has said that billions of dollars from citizens accused of fraud and embezzlement have been recovered.
“These are very smart people. They do not just have things in bank accounts, so we’re unlikely to recover cash but there will be assets inside and outside Saudi Arabia” said Al-Jadaan.
He declined to comment on whether the government had recovered $100 billion from the anti-graft drive but he did, however, shed light on where the recovered billions would be used in.
Al-Jadaan has said that the recovered assets would be used to pay for items of national expenditure for Saudi citizens, such as the Citizens’ Account and the recent economic stimulus package.
Responding to a query on whether the drive would deter foreign investment, Al-Jadaan responded by saying “It is the quality and the cost of your proposition that will determine whether you are successful in doing business in Saudi Arabia, not how much you pay in bribes.”