The House of Saud in Commerce

Book excerpt: In the evolutionary process of Saudi Arabia, the period beginning with the seventies marked by the 'oil revolution' can be described as the turning point. With this began a phase of consolidation and institutionalisation of the royal government. One important development having bearing on its nation building project has been the participation of the Royal Family members in economic activities of the country. Since the seventies, over the last three decades, it is clearly visible that the engagement of the Saudi Royal Family in economy and business has grown not only in volume but in form also. This study has attemped to look at the sprawling business activities of the Royal Family members, not merely as a profile but relate it to the evolutionary context. The first major study that examines the gradual process of emerging entrepreneurship in the Saudi Royal Family. It highlights the role of the royal entrepreneurs in the development of the Saudi private sector. The study shows that their investments have created a positive climate for the growth of entrepreneurship, especially productive entrepreneurship, on the Saudi business scene. An indispensable store-house of detailed account of the investments made by more that 600 royal members, including princesses in 1050 Saudi companies. Supported with 28 pages of index and 14 tables, this data-packed book is a bonanza for businessmen, diplomats, laymen, and all those interested in Saudi Arabia and its Royal Family. A must-have book that contains biographical and kinship details of the Aal Saud. The book is one of its kind and is fully based on firsthand local sources. Apart from numerous published sources in Arabic, the official gazette of the government of Saudi Arabis, Umm Al-Qura, has been extensively consulted.