Analysis: PwC’s Saudi ban is a warning sign

Analysis: PwC’s Saudi ban is a warning sign

Wael’s viewTwo unrelated events this week suggest that the boom time for foreign consultants in Saudi Arabia may be ending: Oil prices hit a three-year low of $68 a barrel on Wednesday, and PwC has reportedly been halted from securing new consultancy and advisory contracts with the Public Investment Fund until next year.The Gulf is one of the few remaining growth markets for global consultancy firms, and Saudi Arabia has been a particularly lucr…

Saudi Arabia Bans PwC: What Led To This Landmark Decision? - Construction Business News Middle East

PwC has been restricted from conducting advisory services until February 2026 Saudi Arabia’s Public Investment Fund (PIF) has temporarily suspended PwC from advisory and consulting contracts until February 2026. While the exact reason for the decision remains undisclosed, the move will impact business operations in one of the region’s fastest-growing markets. PwC has had a significant presence in Saudi Arabia, employing over 2,600 people across …

Saudi Arabia’s Message to Global Firms: Deliver Real Value or Step...

Moratorium on PwC business tells cautionary tale My previous and current careers collided last week when the Kingdom of Saudi Arabia’s Public Investment Fund (PIF) announced a one-year moratorium on doing business with PwC (details continue to emerge even as I type this and the exact contours of the new Saudi PIF and PwC arrangement will likely shift, so I won’t try to evaluate a moving target). Having spent 13 years as a U.S. diplomat — includi…

PwC banned by $925Bn sovereign wealth fund Saudi Arabia

Saudi Arabia’s Public Investment Fund (PIF) & 100 other subsidiaries have been told to stop handing out advisory projects to PwC! Yes, PwC is restricted from all new advisory and consulting contracts like strategic consulting, mergers & acquisitions, tax advisory, and finance transformation. Guess what…PIF, one of the region’s largest buyers of these services!  Ban takes effect immediately, lasts until February 2026. First, what is the purpose o…