| For many in the Islamic finance industry in the Gulf - and the rest of the world - the Kingdom of Saudi Arabia is seen as something as a beacon of hope. This is not simply because KSA is the home of Mecca and other holy sites but because the nation has such vast reserves of oil, estimated at 20% of total world supply, and, with it, vast wealth.
Because KSA is also rather isolationist, it is often easy to imagine that it can avoid the worst vagaries of the world markets when they fall into turmoil, as they have done over recent weeks..............................................Full Article: Source
|