Saudi Arabian courts process 30,000 financial cases in 9 months

      Published on Sunday, 9 June , 2019      482 Views     
Saudi Arabian courts process 30,000 financial cases in 9 months

  • Government

Around 22,700 cases were dealt with in 2017-18, according to reports in Arabian Business, citing the Riyadh-based Al-Eqtisadiah newspaper.

The paper reported that data compiled by Saudi news agency Argaam showed 31,300 cases heard last year, of which 10,400 were seen in Riyadh commercial courts.

The increase comes amid a general and ongoing crackdown on curruption in the kingdom.

In November 2017, many Saudi princes and businessmen were held in Riyadh’s Ritz-Carlton in an unprecedented operation that raised billions of dollars for the Saudi state.

At the same time, the country’s de facto ruler, Crown Prince Mohamed bin Salman (MbS), is pursuing his ambitios reforms for Saudi Arabia’s Vision 2030.

By this time, bin Salman plans to have weaned the country off its dependence on the oil and gas sector and on to renewable energy as part of a root-and-branch diversification of the economy.

Category Government | 2019/06/09 latest update at 8:00 AM
Source : Internet | Photocredit : Google
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