Connect with us

Saudi Arabia Looks to Formalize Reserve-Like Sovereign Wealth Fund

Published

on

The Saudi Arabian Monetary Agency (SAMA) manages hundreds of billions of dollars in foreign currency reserves. The Kingdom of Saudi Arabia is seeking to formalize a sovereign wealth fund. The proposed fund, National Reserve Fund, will be discussed by the Majlis as-Shura, the consultative assembly of Saudi Arabia. The draft law is under debate. The National Reserve Fund could start with initial capital worth 30% of budgetary surpluses amassed over a number of years.

View SAMA Foreign Holdings Profile

Chinese Yuan

Increasingly, Middle East central banks with massive foreign reserves are looking to the Chinese yuan as a potential diversifier. SAMA thinks the yuan is far from being a reserve currency, but it is getting stronger. In fact, China is Saudi Arabia’s largest crude buyer, giving 1.17 million barrels of oil per day. Beijing has been active setting up open currency swap agreements with central banks globally.

Grant & Eisenhofer Reveals Fortis Investors to Receive $1.5 Billion in Mega Settlement

Published

on

Law firm Grant & Eisenhofer won a landmark case for its clients after a seven-year legal duel in Dutch courts. On July 13, 2018, the Amsterdam Court of Appeals officially approved the largest securities settlement ever reached in Europe, paving a path for international insurance company Ageas N.V./S.A. to begin payment of US$ 1.5 billion (€1.3 billion) to multiple groups of institutional and individual investors from Europe and the United States. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

State Street to Buy Charles River Systems

Published

on

State Street Corporation inked a deal to acquire Charles River Systems, Inc. (Charles River Development), a provider of investment management front office tools and solutions. Under the terms of the agreement, State Street will purchase Burlington, Massachusetts-based Charles River Development in an all-cash transaction for US$ 2.6 billion. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

FINMA Announces Rothschild Bank Broke Anti-Money Laundering Rules over 1MDB Fiasco

Published

on

The Rothschild Bank AG and one of its units called Rothschild Trust (Schweiz) AG got slapped with serious violations of anti-money laundering in regard to the 1MDB scandal. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

Popular

© 2008-2018 Sovereign Wealth Fund Institute. All Rights Reserved. Sovereign Wealth Fund Institute ® and SWFI® are registered trademarks of the Sovereign Wealth Fund Institute. Other third-party content, logos and trademarks are owned by their perspective entities and used for informational purposes only. No affiliation or endorsement, express or implied, is provided by their use. All material subject to strictly enforced copyright laws. Registration on or use of this site constitutes acceptance of our terms of use agreement which includes our privacy policy. Sovereign Wealth Fund Institute (SWFI) is a global organization designed to study sovereign wealth funds, pensions, endowments, superannuation funds, family offices, central banks and other long-term institutional investors in the areas of investing, asset allocation, risk, governance, economics, policy, trade and other relevant issues. SWFI facilitates sovereign fund, pension, endowment, superannuation fund and central bank events around the world. SWFI is a minority-owned organization.