Saudi Arabia under Ibn Saud : economic and financial foundations of the state / J.E. Peterson.

Format:

Book

Author/Creator:

Peterson, J. E. (John Everett), 1947- author.

Series:

Library of Middle East history ; 75.

Library of Middle East history ; 75

Language:

English

Subjects (All):

Economic conditions.

Saudi Arabia--Economic conditions--20th century.

Saudi Arabia.

Saudi Arabia--History--1932-.

History.

Saudi Arabia--Politics and government--1932-.

Politics and government.

Economic history.

Genre:

History.

Physical Description:

xiv, 288 pages : illustrations, maps ; 24 cm.

Place of Publication:

London : I.B. Tauris & Co. Ltd, 2018.

Summary:

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 nearly all of the country's early financial dealings and administrative development. This book examines the role of the Ministry of Finance and its minister, Abdullah al-Sulayman, in holding the country together financially and administratively until the promise of substantial oil income was realized a few years after the end of World War II.

Contents:

1 Saudi Arabia in the Twentieth Century p. 1

The Kingdom of Saudi Arabia p. 3

Origins of Government Administration and Financial Requirements p. 6

Part I Finances and Oil Before World War II

2 The Organization of State Finances p. 15

Control of the Treasury in the Early 1920s p. 15

Control of Finances in al-Hijaz and the Directorate from 1927 p. 16

Controller of National Finances and the Financial Authority (al-Wikalah) (1927-9) p. 18

Establishment of the Ministry of Finance (1932) p. 22

Administering Finances During the Great Depression p. 25

3 The 1933 Oil Concession and Oil Affairs to World War II p. 35

Early Oil Exploration in Arabia p. 35

The Role of Charles Crane and Karl Twitchell p. 41

The Original 1933 Concession p. 46

Further Developments in the ARAMCO Concession p. 52

4 Early Administrative Arrangements p. 55

Military and Defense p. 55

Air and Transport p. 56

Foreign Affairs p. 58

Hajj Administration p. 61

Mining Activities p. 61

Electricity and Water Supply p. 63

Other Ministry of Finance Responsibilities p. 65

Part II The Impact of World War II

5 British Wartime Assistance and the Emergence of Anglo-American Rivalry p. 71

The Inception of British Wartime Subsidies p. 72

The Kingdom's Dire Internal Situation in 1942-3 p. 75

Issues with the British Subsidy for 1944 p. 80

The US Supplants British Influence with the 1945 Subsidy p. 89

6 The Beginnings of the US-Saudi Partnership p. 93

The Historic Meeting between King 'Abd al-'Aziz and President Roosevelt p. 95

Wartime Subsidies and Lend-lease Assistance p. 98

Military Provisions and the Dhahran Air Base Agreement p. 100

7 Administrative Developments p. 106

Endeavors in Agriculture p. 107

Continuing Developments in Foreign Affairs and Defense p. 113

Banking and Currency p. 114

Development Projects p. 119

Miscellaneous Activities p. 121

Part III Postwar Prosperity and Economic Development

8 Oil Emerges as the Financial Engine p. 125

Oil Company Relations During the War p. 125

TAPline and Other Oil Concerns (1946-9) p. 129

Financial Relations between the Saudi Arabian Government and ARAMCO (1946-9) p. 131

Oil Negotiations and Related Matters (1950-4) p. 136

Other Financial Relations between the Saudi Arabian Government and ARAMCO (1950-4) p. 141

Onassis and the SATCO Affair of 1954 p. 143

9 Postwar Stringencies and the Push for Development (1945-9) p. 148

A New Normalcy After the War p. 148

Establishing a Controlled Budgetary Process and Spearheading Socioeconomic Development p. 155

10 The Broad Remit of the Postwar Ministry of Finance p. 168

The Establishment of the Saudi Arabian Monetary Agency p. 169

Mining Activities and Transport p. 172

Saudi Employees in ARAMCO p. 175

Agriculture p. 175

Other Responsibilities p. 178

11 The Emergence of Prosperity (1950-4) p. 181

Finances and Currency Reform p. 181

Development Projects p. 186

The Expansion of Government Administration p. 191

The Ministry of Finance in the Transition from King 'Abd al-'Aziz to King Sa'ud p. 195.

Notes:

Includes bibliographical references (pages 268-277) and index.

Other Format:

Electronic version: 9781786724304

ISBN:

1784539007

9781784539009

OCLC:

1037596091