Swiss bank collapse wipes out $1.5bn from Saudi investment
21 Mar 2023; MEMO: Saudi Arabia's investment in Credit Suisse is almost wiped out and is expected to lose $1.5 billion, the Wall Street Journal has reported. Crown Prince Mohammed Bin Salman directed the government-backed Saudi national bank to make the investment last year following an increase in the price of oil. He reportedly made the investment against the opinion of his advisers.