A new Saudi fund for investment

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.