News Column

Saudi Arabia readies launch of first SWF

June 8, 2014



The central bank has managed investment of the kingdom's foreign currency reserves until now, much of it in US Treasury bonds.



Saudi Arabia is preparing to launch its first sovereign wealth fund, or SWF, to manage budget surpluses from a rise in crude prices estimated at hundreds of billions of dollars, state media reported on Saturday.







The central bank has managed investment of the kingdom's foreign currency reserves until now, much of it in US Treasury bonds.







Compiled from AFP and staff report


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Source: Khaleej Times (United Arab Emirates)


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