Saudis Establish Office to Continue Corruption Fight Following Crackdown, Reports Reuters

Saudi Arabia has established a new office to monitor state spending, aiming to enhance its anti-corruption efforts following the conclusion of a 15-month campaign, according to reports from state media.

This financial reporting office is set to operate under the General Auditing Bureau, which is responsible for identifying financial irregularities. Public prosecutor Saud al-Mojeb stated that the monitoring will involve various authorities, emphasizing that corruption can occur across multiple companies and government sectors.

Last week, Crown Prince Mohammed bin Salman remarked that the anti-corruption initiative launched in November 2017 had successfully met its goals, having apprehended numerous prominent figures in the kingdom’s economic and political landscape. The royal court noted that over $106 billion had been recovered through settlements with several senior princes, ministers, and influential business leaders.

King Salman previously indicated that the government would persist in its efforts to combat corruption and safeguard public finances. Currently, there are 56 individuals from the anti-corruption campaign facing criminal charges, while eight others have opted not to accept settlement offers.

While the crackdown has been portrayed by some as a power play by Prince Mohammed, which has caused concerns among foreign investors key to his economic diversification plans, he has characterized the initiative as “shock therapy” in his efforts to reform the economy.