16.06.2014 - GCC states spread the wealth around
The Gulf Cooperation Council (GCC) maintains a quite substantial sovereign wealth funds (SWFs), and much to their credit, they invest these across a wide global footprint. In fact, they have a track record of showing readiness to contribute handsomely to solve critical global financial problems. This was put to display at the height of sub-prime market crisis in 2008, with the GCC contributing generously to a special fund to help those hit with the calamity. Three other GCC member-states maintain sizeable SWFs, specifically $743 billion for Saudi Arabia, $410 billion for Kuwait and $170 billion for Qatar. Oman and Bahrain maintain relatively smaller by regional standards funds of $19 billion and $11 billion...............................................Full Article: Source
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