Credit Suisse crisis highlights growing clout of Middle East money

'Black box' decision-making raises alarms in European financial circles

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Then-CEO of Credit Suisse, Thomas Gottstein, and Saudi Public Investment Fund Gov. Yasir Othman Al-Rumayyan attend the Future Investment Initiative forum in Riyadh in January 2021. © Reuters

HIDEMITSU KIBE, Nikkei senior staff writer

March 25, 2023 07:49 JST

TOKYO -- The crisis at Credit Suisse quickly deepened after its top investor, Saudi National Bank, ruled out further assistance, showcasing the outsize influence that Middle Eastern funds wield in the global financial market.