Saudi Arabia to launch sovereign fund
09/06/2014 12:30 pm EDT

share with your network:

Saudi Arabia’s Shoura Council is set to discuss a draft law for the National Reserve Fund in meetings scheduled for today and tomorrow in Riyadh, Arab News has reported. The fund will be tasked with investing state reserves “to assure the kingdom’s financial stability,” said Saad Al-Mareq, chairman of the financial affairs committee at the consultative body. According to the draft law, the fund will start with capital representing 30% of budgetary surpluses accumulated over the years.

About the Author

share with your network:

Share your view

© 1996-2015 Media quest FZ LLC A media and entertainment company
Middle East Main Office
[email protected]
© 2015 Dubai Business | Ameinfo . All rights Reserved.