Net closes on Al-Amoudi’s empire

Issue 357 - 09 Nov 2017 | 1 minute read

The 4 November arrest on corruption charges of some of the most celebrated members of the Saudi elite netted princes with global business interests, led by celebrated dealmaker Prince Alwaleed Bin Talal and including Islamic banking pioneer Saleh Kamel and Saudi-Ethiopian billionaire Mohammed Al-Amoudi. Supported by the many Saudis who long to see action over the kingdom’s legendary commission culture and spotty governance, the purge was also widely interpreted as another power play by Crown Prince Mohammed Bin Salman (MBS), who may now replace his father King Salman Bin Abdelaziz sooner rather than later.

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