“We are determined in building our National infrastructure, spread education, construct a strong army, and economy.”
A saying by King Saud.
King Saud utilized to many of the qualified Saudis who had returned to their country after having studied abroad. Amongst them was Abdullah Al Turaiky, the first Saudi Minister for Petroleum in (1960-1380 H). And so was established the first Ministry of Petroleum and Mineral Resources. King Saud wa...
Read moreAfter four years of direct Aramco implementation of its concession with Saudi Arabia, the Government of the Kingdom in the fifties to amend the terms of the concession amendment has funneled half the profits made by Aramco after the original franchise does not provide the Kingdom's only four gold sh...
Read moreTo give the reader a general idea about the financial situation in Saudi Arabia, and the efforts of the Ministry of Finance to support it and install it, the following is the text of the Decree of 11 April 1374 - December 8, 1954, issuing the general budget of the Kingdom for the year 1374: With th...
Read moreThe Ministry of Finance is the first and oldest ministry in the Kingdom since it was founded by King Abdulaziz. During the reign of King Saud, it was modified to contain the following departments: the Directorate General of Hajj, Oil and Minerals interest, the Department of Zakat and Income, General...
Read moreUnder the wise oil policy pursued by the government of Saudi Arabia since the Great Saudi entity was united under King Abdul Aziz bin Abdul Rahman Al Saud. American companies constantly searched for oil and carried exploration in the territory of the Kingdom of Saudi Arabia's vast land, and in part...
Read moreA separate department in the Ministry of Finance and was called the "Department of Economic Affairs" and is assigned to the supervision of Sheikh Ahmed Moussalli with the rank of Assistant Deputy Minister. On 14 Shawwal 1373H - June 26, 1953 AD King Saud ordered the establishment of the Ministry of...
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