A Palestinian billionaire, Sabih al-Masri, was detained in Saudi Arabia. The billionaire who served as Director of Arab Bank, Jordan's largest lender, was arrested for questioning after his business visit to Riyadh.
As reported by Reuters Saturday (16/12/2017), Masri who also holds Saudi citizenship was arrested after visiting Riyadh last week, to chair a meeting of its companies. He is also known as an important businessman in Jordan with many shares in hotels and banking in the country.
On Tuesday (12/12) local time, Masri canceled dinner with renowned colleagues and entrepreneurs.
Until now, Masri can not be reached for comment. The Saudi authorities also have not commented on the report. The news of this arrest came from Masri's family and friends.
A number of his believers call Masri been warned not to travel to Arabia, after last month the Saudi authorities made mass arrests of princes, ministers and businessmen in a massive anti-corruption operation .
"He (Masri-red) has answered a number of questions about his business and its partners," said a source familiar with Masri's detention.
Masri originally from a merchant family in Nablus, the West Bank collects his wealth from partnering with the Saudis in a massive catering business to supply a US-led military operation to retake Kuwait from Iraq in 1991.
Local media Saudi Arabia reported that Masri has been detained since Thursday (14/12) local time. This news shocked the Jordanian public, who became Masri invested billions of dollars.
Masri was elected Director of Arab Bank since 2012, after Abdel Hamid Shoman from the founding family of the bank resigned. Masri is also a prominent investor in the Palestinian territory with a large number of shares in Paltel, the publicly traded company that is also the largest private company in the West Bank.
The Masri family comes from amongst the wealthy Palestinian families, many of whom own shares in real estate, hotels, and telecommunications companies that stand under a special agreement with Israel in 1993. Masri is a cousin of billionaire Munib al-Masri who is the richest man in Palestine.
(nvc / tor)