Saudis want to withdraw investments from US Saudi Arabia-USA, Economics, 8/19/2002
Saudi businessmen have called for withdrawing the Saudi investments from the US in case the US will continue and allows judicial lawsuits proposed by some US lawyers against Saudi banks and charity societies, stressing that this case is deliberate and stands against all Saudi interests.
News reports said on August 16 that the case which will be filed by families and relatives of victims of September 11 attacks in the US targets 99 Saudi establishments, organizations, and individuals.
The director of "Bekheit " center for the Saudi financial consultation said in statements issued on Sunday by the Saudi daily al-Watan that the acceptance of the American courts of the filed lawsuits asking for compensations estimated at 300 billion dollars to the families of the American victims of the attacks of September 11, will push all Saudi investors in particular and the Arab investors in general to get their sums out of the American banks, so as to avoid risks of these trial cases.
The Saudi Arab monetary fund establishment "Mu'assat al-Naqd al-Arabi al-Saudi" is to reconsider investments of the retirement and social insurance establishments in the USA, and to invest them in local or European markets which are more secure.
The chairman of the Saudi- German company, Suleiman al-Sayarri, stressed the need of withdrawing all Saudi investments because of the fact that the US markets have lost transparency, and because of the fears in the Saudi investor, besides the change in the position of foreign investors in the world towards the American stances which are not attractive international investors.
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Al-Watan: intellectuals stress Saudi Arabia's unity, condemns US intervention (8/16/2002)
Rumsfeld phones Prince Sultan to contain the Saudi- American crisis (8/10/2002)
Saudi media criticize 'Christian extremism' in the USA (8/9/2002)
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