The Kingdom Centre Tower is seen in Riyadh, Saudi Arabia, November 5, 2017. REUTERS/Faisal Al Nasser
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Saudi banks have frozen more than 1,200 accounts belonging to individuals and companies in the kingdom as part of the government's anti-corruption purge, bankers and lawyers said Tuesday.Among top business executives detained in the probe are billionaire Prince Al-Waleed, chairman of investment firm Kingdom Holding; Nasser bin Aqeel al-Tayyar, founder of Al Tayyar Travel; and Amr al-Dabbagh, chairman of housing builder Red Sea International. The stocks of all three companies, which have issued statements saying they continue to operate as normal, plunged between 9 and 10 percent Tuesday.One of the bankers speaking to Reuters said the central bank had met with some foreign banks this week to reassure them that the freezing of accounts targeted individuals, and that firms linked to those people would not be damaged.
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