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Neno's Place Established in 2006 as a Community of Reality


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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Saudi Central: Corruption investigations do not harm companies and banks

    Rocky
    Rocky
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    Join date : 2012-12-21

    Saudi Central: Corruption investigations do not harm companies and banks Empty Saudi Central: Corruption investigations do not harm companies and banks

    Post by Rocky Wed 08 Nov 2017, 2:51 am

    Saudi Central: Corruption investigations do not harm companies and banks

    Economy News Baghdad:
    The Saudi central bank on Tuesday sought to reassure the business community that a broad investigation into an anti-corruption campaign would not hurt the economy, saying companies and banks could operate normally.
    The Central Bank said in a statement that at the request of the Attorney General, it had frozen personal bank accounts of suspected individuals until the courts adjudicated their cases but did not suspend the operations of their companies.
    Corporate activities would not be affected and there were no restrictions on remittances through legitimate banking channels.
    Dozens of the royal family, officials and businessmen have been suspended in the crackdown on corruption, facing charges of money laundering, bribery, extortion of officials and the exploitation of public office for personal gain.
    Bankers confirmed earlier on Tuesday that Saudi banks had frozen more than 1,200 bank accounts at the direction of the central bank and that the number of accounts was increasing every hour soon.
    This has raised concerns among businessmen of delaying repayment of existing debts and disrupting the daily activities of some companies, such as paying employees and creditors' entitlements.
     
    Some of the shares associated with prominent businessmen have been held down about 20 percent in the past three sessions.



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