Kuwait Investment Authority
From Wikipedia, the free encyclopedia
This image has an uncertain copyright status and is pending deletion. You can comment on the removal.
The Kuwait Investment Authority (KIA) is Kuwait's government investment arm, specializing in local and foreign investment. It was founded to manage the funds of the Kuwaiti Government in light of financial surplusses after the discovery of oil.
Today, KIA manages the Kuwait General Reserve Fund, the Kuwait Future Generations Fund, as well as any other moneys committed by the Ministry of Finance.
To put KIA's mass into perspective, the Kuwait Future Generations Fund has 10% of annual oil revenues added to it. As of fiscal year 2004/2005, the annual contribution to the Kuwait Future Generations Fund was valued at 896.24 million Kuwaiti dinars ($3,069.21 Billion USD, 1 KWD = 3.42454 USD)
KIA's board of directors is headed by the Minister of Finance, with other seats allocated to the Energy Minister, Governor of the Central Bank of Kuwait, Undersecretary of the Ministry of Finance, and 5 other nationals who are experts in the field, 3 of which should not hold any other public office.
KIA is estimated to hold in excess of $500 billion of assets, and is reportedly the largest investment arm in the world.
[edit] External links
| Find more information on Kuwait by searching Wikipedia's sister projects | |
|---|---|
 |
Dictionary definitions from Wiktionary |
 |
Textbooks from Wikibooks |
 |
Quotations from Wikiquote |
 |
Source texts from Wikisource |
 |
Images and media from Commons |
 |
News stories from Wikinews |
 |
Learning resources from Wikiversity |
