RIYADH, 11 November 2003 — Saturday’s suicide bombings will not damage the Saudi economy, although it has rattled their sense of security, according to some Saudi experts.
Osama M. Al-Kurdi, a member of the Shoura Council, told Arab News that the Saudi economy, the biggest in the Middle East, would not be shaken by the acts of terrorists.
“The fact that there has been an unparalleled increase in stock market and real estate values and a dramatic rise in bank deposits proves conclusively that investor and depositor confidence has remained unshaken,” he said.
Al-Kurdi lashed out at terrorists who committed “totally un-Islamic acts by attacking Arab, Muslim and non-Muslim residents of the compound at night to inflict major civilian casualties.”
Muhammad M. Alomar, a senior executive, said the suicide bombings would not damage the economy. “But I believe that they may create a sense of insecurity among the people who had taken this security for granted.” He said those responsible for such criminal acts would not succeed, since the government was dealing with the situation firmly and was determined to eliminate terrorism.
“It is premature to say who was behind these attacks, since the investigations are still going on. They could have been from Al-Qaeda, Mossad or the CIA. These are the names being mentioned here. They couldn’t have been committed by anyone who believes in Islam, the religion of peace and mercy,” said Alomar.
Motashar Al-Murshed, a financial consultant, said the fact that the stock market rallied within two days after the attacks proved that investor confidence was not jolted. He said the Saudi economy was “strong and resilient enough” to absorb such minor shocks.
Al-Murshed said the suicide bombings on Nov. 8 and May 12 have demonstrated the fact that “these terrorists acts are not home-grown but imported from abroad. Moreover, there have been reports of terrorists entering the Saudi border from across Iraq. They could also have been involved in carrying out these suicide attacks.”
He said the Western media “should understand that Saudi Arabia itself has become the target of terrorist attacks.”
Al-Murshed blamed the CIA for training young Muslims in the first place during the campaign to oust the Soviets from Afghanistan. “What we are witnessing now is a residue of the Cold War era,” he said.
“Now the same people are targeting us in Saudi Arabia,” he said, adding: “In this war on terrorism we stand shoulder to shoulder with the government.”
