Saudi Arabia warns citizens after double homicide in Egypt
Saudi Arabia warns citizens after double homicide in Egypt
Saudi Arabia has alerted Saudis to be cautious while doing business in Egypt after a Saudi woman and her daughter were killed in a purportedly financially motivated double homicide.
2 min read
A Saudi woman and her daughter were recently murdered in Egypt [Getty]
Saudi Arabia has warned its citizens to take precautions when conducting business in the North African country after a Saudi woman and her daughter were recently murdered.
The Saudi embassy in Cairo released a statement on Tuesday calling on Saudis to be cautious in their financial dealings inside Egypt and to consult the embassy before investing, according to al-Araby's Arabic service.
"These measures have been taken after the murder of Saudi woman who wanted to invest in Egypt, this is not an outright ban but a request to exercise caution when dealing with unfamiliar people and untrustworthy business in Egypt," said the Saudi embassy's press officer, Saud al-Kabli.
"Investors should notify the embassy so we can help them verify persons or business before they put money into any investments," Kabli added.
A Saudi economist has said the lawlessness in Egypt will likely deter small investors from sinking their money into the country.
"Many Saudis have been victims of fraud and lost money in Egypt in the past because the law there does not protect them," said economist Fahd al-Zaidi.
"The law and bureaucracy do not encourage investment in Egypt and there are many players who actively try to impede investors," added Zaidi.
Local media has reported that an Egyptian man was arrested this week for allegedly killing a 61-year-old Saudi woman and her 27-year-old Kuwaiti daughter in the southern city of Minya.
The bodies of the two women were found in a well on a piece of land owned by the suspect, the double homicide seems to be financially motivated, according to Arab News.
A Saudi woman went missing in Cairo this week, in a separate incident, police have said they are coordinating with the Saudi embassy to obtain more information on the woman.
The Saudi embassy in Cairo released a statement on Tuesday calling on Saudis to be cautious in their financial dealings inside Egypt and to consult the embassy before investing, according to al-Araby's Arabic service.
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Many Saudis have been victims of fraud and lost money in Egypt in the past - Fahd al-Zaidi |
"Investors should notify the embassy so we can help them verify persons or business before they put money into any investments," Kabli added.
A Saudi economist has said the lawlessness in Egypt will likely deter small investors from sinking their money into the country.
"Many Saudis have been victims of fraud and lost money in Egypt in the past because the law there does not protect them," said economist Fahd al-Zaidi.
"The law and bureaucracy do not encourage investment in Egypt and there are many players who actively try to impede investors," added Zaidi.
Local media has reported that an Egyptian man was arrested this week for allegedly killing a 61-year-old Saudi woman and her 27-year-old Kuwaiti daughter in the southern city of Minya.
The bodies of the two women were found in a well on a piece of land owned by the suspect, the double homicide seems to be financially motivated, according to Arab News.
A Saudi woman went missing in Cairo this week, in a separate incident, police have said they are coordinating with the Saudi embassy to obtain more information on the woman.
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