Saudi Arabia's billionaire Prince Alwaleed's reportedly among 11 being held as part of a crackdown on alleged corruption.

Dozens of current and former ministers have also been arrested.

They were held hours after a new anti-corruption committee was formed - headed by Crown Prince Mohammed bin Salman.

Billionaire Prince Alwaleed bin Talal owns stakes in Rupert Murdoch’s News Corp and social media site Twitter.

The Saudi government says the newly established committee has the right to issue arrest warrants, impose travel restrictions and freeze bank accounts.

Experts have said the aim of the crackdown was not to tackle corruption, but to remove any likely opposition to Prince Mohammed's reforms, which include lifting a ban on women driving and opening up the conservative state to tourists.