Saudi Arabia Investment AuthoritySanabil al-SaudiaKingdom of Saudi Arabia |
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Sanabil al-Saudia
fund is an organization of the Kingdom of Saudi Arabia in charge for the
regulations and managing of the reserves coming from Saudi Arabia foreign
investments. Sanabil al-Saudia is fully owned by the
Saudi Arabia
Public Investment Fund, the Saudi
Arabia Finance Ministry's investment organization, established in 1971
to support the development of the Kingdom's economy.
This Sovereign Wealth Fund has been launched on May 2009 with a capitalization of $5.3 billion. In the past, Saudi Arabia's state foreign investments was managed by the Saudi Arabian Monetary Agency, the kingdom's central bank. Totally different mission has the Saudi Arabian General Investment Authority, created in April 10, 2000 in the process of economic liberalization to manage the investments in Saudi Arabia. The ranking of the Saudi Arabia Investment Authority fund in terms of asset is very low, compared the one of Abu Dhabi Investment Authority, or Libyan Investment Authority.
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The Saudi riyal (ISO 4217 code: SAR) is the money of the Kingdom of Saudi Arabia. The monetary authority of the Kingdom of Saudi Arabia is by the Saudi Arabian Monetary Agency, that issues the riyal since 1960, and in 1963 ad it was subdivided into 100 halala.
Since June 1986, the riyal is officially pegged to US Dollar at the ratio of 1 U.S. dollar = 3.75 riyals (1 riyal = 0.2667 dollar).
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