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FINANCIAL NEWS
Saudi Arabia allocates USD27bn to wealth fund for deals
01 Dec 2016
(MENAFN) Saudi Arabia aims to transfer USD27bn to the sovereign wealth fund in order to boost investments and spread from oil.
Moreover, the funds will be allocated to the Public Investment Fund from the kingdom’s reserves and will focus on global and local deals.
In addition, the kingdom is planning to transform the PIF from a domestically focused investment firm into USD2tr sovereign wealth fund.
Meanwhile, the country’s plans also involve transferring to the sovereign wealth fund the ownership of oil giant Saudi Arabian Oil Co.
More News
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BBK announces an exceptional 6-month grace period financing campaign for Personal and Car Finance customers
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HM the King’s Support for Youth is an Inspirational Model for Their Empowerment Journey
28 Jul 2025
BBK discloses its financial results for the half year ended 30th June 2025
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
08 Jul 2025
BBK proudly launches the third edition of “Grow” and welcomes 20 Bahraini graduates
03 Jul 2025
BBK hosts executive leadership session on digital assets in collaboration with Rain
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
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