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counter opposition,' said James Dorsey from Singapore's S.Rajaratnam School of International Studies.'It raises questions about the reform process that increasingly is based on a unilateral rather than a consensual rewriting of the kingdom's social contract.'Prince Mohammed's supporters lionise him as an enlightened disrupter of the status quo as he pursues dramatic social and economic reforms to modernise the kingdom and prepare for a post-oil era.
'It is business as usual for both banks and corporates,' he said, adding that there were no restrictions on money transfers through legal banking channels.
The venue of the summit, Riyad's Ritz Carlton hotel, is now rumoured to be the site where many of the arrested elites are being held.
Police cars surround the palatial complex, with its imposing gates clamped shut.'The anti-corruption sweep has included individuals who had been seen as potential sources of resistance to elements of MBS's various projects,' said Kinninmont.
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Separately, Saudi commerce minister Majid al-Qasabi said that companies, including those owned by the arrested elites, will be accorded 'full protection' under the law.
Local media has reported new arrests of well-known businessmen since the weekend crackdown, including Naser bin Aqeel al-Tayyar, the founder of one of Saudi Arabia's biggest travel companies In a statement to Saudi stock exchange, his company said it was aware of reports of Tayyar's arrest, adding it confirms the 'continuation of business to serve the interests of shareholders and customers'.Saudi authorities hailed the dramatic crackdown as a bold initiative to root out corruption.But analysts question whether the issue serves as a guise for Prince Mohammed to consolidate power by eliminating rivals opposed to his reform drive and eventual succession as king.'The dismissals and detentions suggest that Prince Mohammed rather than forging alliances is extending his iron grip to...Welcome to Girl Friends Meet, a new and exciting casual dating and social network exclusively for Lesbian, Bi-Sexual and Bi-Curious Women.At Girl Friends Meet you'll get a secure, fun and engaging online community to browse women in your area,interact, chat and share interests. You can chat, follow, like photos and even meet other women who share your same interests very easily.The dramatic clampdown on business figures could deal a blow to investor confidence,potentially derailing sweeping Vision 2030 reforms, the brainchild of Crown Prince Mohammed bin Salman.