Fiscal state formation: oil revenues, budgets and Saudi financial institutions (1945–1975)

1. U.S.–Saudi meeting aboard USS Quincy

   Feb 14, 1945Labels: Franklin D, Abdulaziz Al, USS Quincy

   • FDR Library

2. Tapline company created and construction begins

   Jan 1, 1947Labels: Tapline, Trans-Arabian Pipeline

   • Tapline
   • Aramco Mag

3. Tapline completed (final joint welded)

   Sep 25, 1950Labels: Tapline, Sidon Port

   • Aramco Mag

4. 50/50 Aramco profit-sharing tax deal

   Nov 1, 1950Labels: Aramco, 50 50

   • Oil History
   • Golden Gimmick

5. Saudi Arabian Monetary Authority established

   Apr 20, 1952Labels: SAMA, Saudi Arabian

   • SAMA History
   • SAMA Currency

6. SAMA begins operations in Jeddah

   Oct 4, 1952Labels: SAMA, Jeddah

   • SAMA History

7. Hajj Pilgrim Receipts issued as quasi-banknotes

   Jan 1, 1953Labels: Hajj Receipts, SAMA

   • Saudi Riyal

8. National Commercial Bank created by royal decree

   Dec 26, 1953Labels: National Commercial, NCB

   • SNB History

9. Petromin established as state hydrocarbons vehicle

   Jan 1, 1962Labels: Petromin, General Petroleum

   • Britannica
   • CountryStudies

10. First Five-Year Development Plan launched

    Jan 1, 1970Labels: Five-Year Plan, Saudi planning

    • CountryStudies
    • AramcoWorld

11. Saudi Arabia acquires 25% participation in Aramco

    Jan 1, 1973Labels: Aramco, 25 acquisition

    • Aramco History
    • Cambridge

12. Saudi stake in Aramco increased to 60%

    Jan 1, 1974Labels: Aramco, 60 stake

    • Aramco History
    • AramcoWorld

13. Saudi Fund for Development established by royal decree

    Sep 1, 1974Labels: Saudi Fund, SFD

    • SFD Establish

14. Second Development Plan becomes effective

    Jul 9, 1975Labels: Five-Year Plan, Second Development

    • CountryStudies