Paper Summary:

The paper discusses how Saudi Arabia has long been the de facto leader in the Middle East, due largely to its vast stores of proven oil reserves and its central role in the Islamic faith as the home of Mecca. The paper explains how Saudi Arabia has also taken a leading role in regional conflicts, in that it has often played a conciliatory role behind the scenes while maintaining a somewhat unyielding facade in negotiations with other Middle Eastern states. The paper points out that the financial markets in Saudi Arabia are as problematic as the social and political dimensions encountered with its borders. Saudi Arabia does not maintain a fully independent stock exchange but rather maintains the Saudi Arabia Monetary Agency, which acts as a de facto central bank and maintains an electronic stock trading program known as the Electronic Securities Information System, or the ESIS.

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