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A new Saudi fund for investment
Saudi Arabia, Business, 6/4/1999
The Saudi bank of Riyadh has raised up a new investment fund under the name of "Riyadh for monetary."
In press statements yesterday, the deputy manager of the bank, Talal El-Kodibi, sated that the new fund is to make use of all of the Saudi financial market's tools, such as governmental bonds, treasury bills, and short-term deposits, adding that the fund can invest 15% of it origins as a maximum limit in US dollars, either outside or inside Saudi Arabia.
A report released by the bank said that the amount of $10,000 was specified as a minimum limit to take part in the fund, where the bank's manager will charge a commission rate yearly amounting to 0.5 percent of the invested funds.
Previous Stories:
Saudi El-Raghi purchases 8 percent of Egyptian company
(5/27/1999)
Saudi airline to start trips to Alexandria in June
(5/24/1999)
French economic delegation visits Saudi Arabia
(5/20/1999)
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