Saudi corruption settlements will net "not significantly less" than $13 billion in 2019: minister

Saudi corruption settlements will net

By Marwa Rashad and Stephen Kalin

RIYADH (Reuters) - Saudi Arabia's finance minister said on Wednesday that cash settlements from an anti-corruption campaign would net "not significantly less" in 2019 than the 50 billion Saudi riyals ($13.3 billion) collected in 2018.

Mohammed al-Jadaan also said in a Reuters interview that construction giant Saudi Binladin Group, in which the government took a roughly one third stake under the campaign, would soon have a "normal board" with family members and representatives of government ownership.

He added that the kingdom's sovereign wealth fund, the Public Investment Fund, has no role in a ministry-owned company that is managing assets seized through settlements with dozens of Saudi elite detained last year under the corruption purge.

(Editing by William Maclean)

This story has not been edited by Firstpost staff and is generated by auto-feed.

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Updated Date: Dec 20, 2018 00:05:38 IST

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