Saudi Justice Ministry plans to contract companies to operate sequestrated factories

Saudi Arabia’s Justice Ministry plans to contract specialized companies to manage and monitor the entities and factories which were sequestrated after their owners defaulted, al-Madina newspaper reported, citing unnamed official source.

Strict legal measures will be taken against businessmen or investors who are trying to hide their assets, he said.

The justice ministry, customs, passport control, the capital market authority, the central bank and the general investment authority are all connected electronically to track down any evaders, he said. END