December 19, 2018 / 5:49 PM / 3 months ago

Saudi corruption settlements will net 'not significantly less' than $13 billion in 2019 - minister

RIYADH (Reuters) - Saudi Arabia’s finance minister said on Wednesday that cash settlements from an anti-corruption campaign would net “not significantly less” in 2019 than the 50 billion Saudi riyals ($13.3 billion) collected in 2018.

Mohammed al-Jadaan also said in a Reuters interview that construction giant Saudi Binladin Group, in which the government took a roughly one third stake under the campaign, would soon have a “normal board” with family members and representatives of government ownership.

He added that the kingdom’s sovereign wealth fund, the Public Investment Fund, has no role in a ministry-owned company that is managing assets seized through settlements with dozens of Saudi elite detained last year under the corruption purge.

Editing by William Maclean

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