12.06.2014 - Saudiís Shoura Council Debates Sovereign Wealth Fund Plan
A proposal to set up a Saudi Arabian sovereign wealth fund attracted debate at a meeting of the Kingdomís influential Shura council advisory body but failed to yield a result. A report by the councilís financial committee has said the National Reserve Fund, which would invest part of the Kingdomís vast hydrocarbon wealth, would build on its financial stability. Details of its investment strategy have yet to be disclosed publicly, but if the proposed fund is run like the sovereign wealth funds of other wealthy Gulf states such as Qatar and Abu Dhabi, it could mean a change in the way Saudi money flows through global markets...............................................Full Article: Source
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