| Saudi Arabia is planning to launch a second sovereign wealth fund to invest its budget surplus, according to Arabian news sources. The country's central bank, the Saudi Arabian Monetary Agency (SAMA), currently invests money generated by oil exports in an existing sovereign wealth fund, SAMA Foreign Holdings.
The strength of Saudi Arabia's oil industry has helped grow this portfolio to be the third largest sovereign wealth fund in the world, behind those of Norway and Abu Dhabi...............................................Full Article: Source
|