| Many countries such as Norway, Saudi Arabia and Kuwait have created sovereign wealth funds to manage these windfalls of revenue during boom times. Kuwait, for example, is arguably the only country in the world born out of a sovereign investment fund.
The Kuwait Investment Authority is in actual fact the modernised version of the Kuwait Investment Board founded back in 1953. The fortunes earned by the Board put in place the stepping-stones for Kuwaitis to gain their independence from Britain..............................................Full Article: Source
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