Saudi Arabia's major shareholder Sani assets frozen

The report said the Saudi Arabian Monetary Authority (SAMA) 28th and 30th issued a circular to domestic banks instructing them to freeze the bank accounts and credit cards of wealthy Sania (Maan al-sanea) (see photo) and his 5 family members.　　He is the main shareholder, as of December 30 last year, he through his singularis Holdings indirect holdings of nearly 360 million shares, with 2.97% equity. Sania, in addition to being the chairman of the Saad Group, is also responsible for managing the Analysys Banking Corp., according to a Bloomberg News report. (TIBC), its parent company Ahmad Hamad Algosaibi & Brothers Co.　　(AHAB) Algosaibi said TIBC was "restructuring its debt" and failed to repay creditors. TIBC's short-term and medium-term debt has a total of $2.2 billion trillion (about HK $17 billion), according to a report by credit analysts and rating agencies last month.　　A spokesman for the Saad Group said that although Sania had once been appointed as an executive director of Ahab, he had not discharged the post for many years.　　Middle East media reported last month 23rd that Algosaibi owed 1 billion U.S. dollars (about HK $7.7 billion) of debt, and sources said the Saudi authorities did not explain the reasons for the freezing of assets, the Saudi central Bank did not comment on the incident. According to Forbes ' March 2009 Rich List, the 53-Year-old Sani, the world's 62nd-largest, owns about 7 billion dollars worth of money. Sani also holds stakes in large enterprises such as Citigroup, Bank of China (3988), UK residential builder Berkeley.