Middle East Economic Survey

VOL. XLVII

No 22

31-May-2004

SAUDI ARABIA

CAPITAL MARKETS

Saudi Arabias Cabinet Approves NCCI, Ma'aden Privatization

Saudi Arabias Cabinet on 24 May approved plans to sell off most of the governments share in the National Company for Cooperative Insurance (NCCI) and privatize the Saudi Arabian Mining Company (Ma'aden), after Saudi Arabias Supreme Economic Council (SEC) gave the green light to the sales on 19 May. The plans call for the states Public Investment Fund (PIF)...