Saudi Arabia Signals Pending Power Shift with Mass Arrests

November 08, 2017 by Loch Adamson

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Saudi Arabia's Crown Prince detained dozens in a broad anti-corruption crackdown over the weekend – surprising the global financial community and raising questions about what happens next. Saudi Arabia's Crown Prince — PIF's Chairman — Clears the Way for Reform After hosting a global conference of financial market leaders last month at the Ritz Carlton hotel in Riyadh to promote his ambitious economic agenda, Saudi Arabia’s Crown Prince Mohammed bin Salman bin Abdulaziz al-Saud, chairman of Saudi Arabia’s Public Investment Fund (PIF), made headlines again over the weekend when he summarily ordered the detention of dozens of princes, ministers and other senior government officials. The arrests were described as part of a new anti-corruption agenda, but the reality is rather more nuanced – and the enormity of the purge hints at the likelihood that the crown prince’s father, King Salman bin Abdulaziz al-Saud, 81, may soon abdicate the…

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