The Saudis have enormous stores of foreign wealth
The Saudi royal family that is:
The foreign assets of Saudi Arabiaâ??s central bank have crossed $500bn for the first time.Measured on a per capita basis or as a percentage of gross domestic product the kingdomâ??s foreign asset holdings are substantially higher than Chinaâ??s, according to research from HSBC in Dubai.
Of that vast wealth around $360bn are holdings in foreign securities, the majority of which, analysts say, are US treasury bills. The central bank doesnâ??t give a full break down of its holdings and doesnâ??t say whether its data is mark-to-market.
