08 Jun 2014
(MENAFN) Saudi Arabia said it plans to launch its first sovereign wealth fund to help manage budget surpluses, which results from a boost in crude prices estimated at hundreds of billions of dollars, according to Gulf Daily News.
The central bank has managed investment of the kingdom’s foreign currency reserves until now, much of it in US Treasury bonds.
Saad Mareq from the Shura Council financial affairs committee said that the fund will be tasked with investing state reserves to “assure the kingdom’s financial stability.”
The kingdom has announced budget surpluses totaling some USD232 billion since 2011 until this year.
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
26 Jan 2026
BBK Enhances Autumn Fair 2026 Experience with Customized Rewards and Premium Services
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more