Foundation
The Saudi Funds for Development was founded by virtue of Royal Decree No. M/48, issued on 01/09/1974, and it commenced the operations on 01/03/1975.
Management and Organization
The Fund is a general institution and legal entity of an independent financial status. It is managed by a ten members Board of Directors. The Fund’s Chief Executive Officer assumes the executive authority and he is responsible for the implementation of the Board’s decisions.
The Capital
The Fund has commenced its activities with a capital of ten thousand million Saudi Riyals provided by the Saudi government. This capital had then been increased in three phases to reach thirty one thousand million Saudi Riyals.