The Kuwait Investment Authority (KIA) is Kuwait's state-owned sovereign wealth fund, established on February 23, 1953, making it the world's oldest sovereign wealth fund. Created to manage government surpluses following Kuwait's oil discovery, it oversees two main funds, the Kuwait General Reserve Fund and the Kuwait Future Generations Fund, into which fifteen percent of the country's annual oil revenues are directed. Operating under Kuwait's Ministry of Finance with a board chaired by the Minister of Finance, KIA manages assets in excess of a trillion US dollars, ranking among the world's largest sovereign wealth funds.
Facts
Geography
Country or Jurisdiction ServedWikidata Q1794766, property P17 (country). Founding YearSourced to the subject's own account Founding DateSourced to the subject's own account Classification
Institution SubtypeSourced to the subject's own account In the Other Atlases
- Also in Geography Atlas: Kuwait, located there.
Sources
1. Kuwait Investment Authority (Wikipedia)
WikipediaHistory and profile section: founding sentenceQuote, History and profile section: founding sentence
KIA was founded on 23 February 1953 to manage the funds of the Kuwaiti Government in light of financial surpluses after the discovery of oil.
2. Wikidata
Wikimedia Foundation
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