The Kingdom of Saudi Arabia has maintained the Arab lead in terms of the size of gold reserves, according to the report of the World Gold Reserve Council for the month of March, which was topped by the United States of America globally.
According to the report, the Kingdom's gold holdings within the reserves of the Central Bank amounted to 323.1 tons, which constitutes only 4.1 percent of its total assets reserves, ranking 18th in the world.
Lebanon came second in the Arab world, only two places behind Saudi Arabia in the world ranking, with reserves amounting to 286.8 tons of gold, representing about 40% of its reserves of assets, followed by Algeria with 173.6 tons of gold, representing 18% of the reserves, while Libya kept the third place with reserves of 116.6 tons with the 33rd place in the world, and gold represented about 8.3 percent of the total reserves of the Libyan Central Bank of foreign assets.
With less than 100 tons of gold, the rest of the Arab countries came, with Iraq ranked fifth in the Arab world and 38th in the world, with reserves of 96.4 tons, while Egypt came in sixth place with reserves amounting to 80.2 tons, which represented 10 percent and 12.4 percent of the foreign assets reserves of the two countries. While Kuwait ranked seventh in the Arab ranking with reserves of 79 tons, and despite the popularity of the UAE gold markets, the Central Bank’s reserves of the yellow metal came in eighth place in the Arab world at 57.6 tons, representing only 3.2 percent of foreign reserves, and then Qatar with 56.7 Tons, then Jordan with 43.5 tons, devouring Syria, Morocco, Tunisia, Bahrain, and finally Yemen with reserves of 1.6 tons of gold which ranked 100 in the world.
Source (Al-Arabiya.net website, Edited)
