Saudi Arabia Under Ibn Saud: Economic and Financial Foundations of the State

At its founding in 1932, the Kingdom of Saudi Arabia was characterized by tribal warfare, political instability, chronic financial shortages and economic crises. As a desert chieftain, Abd al-Aziz Ibn Saud, the ruler and king until 1953, had the skills, the cunning and the power to control the tribes and bring peace to this realm. But financial and economic matters were not his forte and these he left mostly to a single individual, Abdullah al-Sulayman al-Hamdan. He was entrusted with nearl...