The statistics of the World Gold Council revealed that Saudi Arabia is at the forefront of the Arab world in terms of the volume of gold reserves, which amounted to 323.1 tons, constituting only 3.8 percent of its total reserves of foreign assets, which puts it in the 18th rank globally. Lebanon ranked second in the Arab world and 20th globally, with reserves amounting to 286.8 tons of gold, which is equivalent to 50.3 percent of Lebanon's reserves of foreign assets.
Algeria ranked third in the Arab world, possessing 173.6 tons of gold, representing 16 percent of reserves, ranking 26th globally, followed by Iraq in fourth place, possessing 130.4 tons, representing 9.5 percent of total reserves, ranking 30th globally. Egypt ranked fifth in the Arab world and 34th globally with 125.2 tons, representing 22.6 percent of the total reserves, then Libya ranked sixth in the Arab world with 116.6 tons, representing 8.2 percent of the total reserves. Kuwait ranked seventh in the Arab world and second among the countries of the Gulf Cooperation Council with its central bank's reserves of gold, amounting to about 79 tons, representing 8.7 percent of the total reserves (Mubasher). Followed by Qatar which was 8th in the Arab world and 45th globally with 72.3 tons, which represents 9.6 percent of the total reserves. The UAE is ninth in the Arab world and 49th globally with 55.2 tons, which represents 4.9% of the total reserves.
Source (Al-Rai Kuwaiti Newspaper, Edited)
