Falling oil prices shaken the oil dominant economies. It put adverse impacts on Gulf economies who have large share on oil exports. Saudi Arab is among one of them and already indulged in war with Houthi’s rebel to counter their expansion in Yemen. While United Nations uplift the sanctions on Saudi Arab old rivalry Iran which also emerged as a big threat to KSA. These kinds of crisis around the kingdom, threatening Al-Saud regime.
Saudi Aramco is world largest company holding a market capitalization of more than $1 Trillion. Through this move, KSA can only save their endanger economy. Saudi Arab is facing Deficit budget from last two years and expecting $87 Billion deficit budget in 2016.
This IPO will definitely put prolific impact on Global Islamic Finance and also strengthen the economy of kingdom and hikes KSA share in Global Islamic finance.