VOL. XLVII

No 21

24-May-2004

SAUDI ARABIA

PRIVATIZATION

Saudis SEC Approves Privatization Of NCCI And Ma'aden

Saudi Arabias Supreme Economic Council (SEC) announced on 19 May that it had approved the sell-off of the governments 50% share in the National Company for Cooperative Insurance (NCCI) and the privatization of the Saudi Arabian Mining Company (Ma'aden). The plans, which must also be approved by the Saudi cabinet, envisage the sale of the shares in NCCI which are held by the states Public...