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Sovereign Wealth Funds Briefing - Categorized | Fund Profile/New Launches

Kuwaiti MP proposes trust fund for citizens from birth

Posted on 21 February 2014

A Kuwaiti MP filed a bill Thursday to create a government-funded trust fund for every citizen from birth that would become an 18th birthday present of around $40,000 (29,200 euros). Under MP Askar al-Enezi’s proposal, the government of the oil-rich Gulf state would deposit 50 dinars ($177) each month into an account for each citizen from the time of birth.
The money would be managed by the country’s sovereign wealth fund, Kuwait Investment Authority, and the capital and profits handed to citizens when they become adults………………………………………..Full Article: Source


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