Economic Crisis in Saudi Arabia
KABUL: (Middle East Press) Nader Hariri stated that the Saudi government is faced with a serious economic crisis.
Based on this report currently all the princes and the rich intend to pull their money out of Saudi banks and they are going to transfer their assets out of the country. So it has created severe financial problems for the banks in a way that King Salman ordered to apply significant limitations for money transfer out of the country. Therefor banks are required to impose restrictions on large cash withdrawals.
According to the issued statement, transferring more than 500 thousand dollars out of the country is prohibited and if the transferor has bought property abroad only with presenting the official documents will be able to transfer that amount of cash.
Saudi Arabia’s internal situation has been radically altered however Security system prevents transmission of factual information and reflection of the present situation to get out of the country with pressure and intense media censorship.