Most bankers agree the changes brought in by Crown prince Mohammed bin Salman will have profound consequences on all areas of their Middle East business, not just their DCM departments
The Ritz Carlton in Riyadh is typically populated with visiting dignitaries and businesspeople enjoying the hotel’s many luxuries. But between November and February, the premises were used for an altogether different clientele: more than 200 of the Kingdom’s wealthiest, many royals among them, who had suddenly been arrested on corruption charges.
By the time Euromoney visits the hotel in early May, the prisoners have been released, many after reportedly signing admissions of guilt and consenting to relinquish part of their fortune to the state.
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