By Jennifer Bond Reed
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Extra resources for The Saudi Royal Family (Major World Leaders)
SAAB gave farmers interest-free loans, and the GSFMO purchased produce from the farmers. King Khalid was not immune to crisis. In 1979, Egypt signed a peace treaty with Israel. Khalid, a strong supporter of Arab unity, was opposed to this arrangement and led economic sanctions against Egypt.
From left to right are the Saudi ambassador to London, the future King Faisal, Amir Mohammed, the future King Fahd, Amir Abdullah Al Faisal and Amir Nawaf. non-Muslims were not allowed into the city. Abdul Aziz himself had been out of the country just once, to visit Iraq. In 1936 and 1939, Abdul Aziz granted oil concessions to American companies, allowing them to explore and drill for oil. The oil deposits of Arabia proved to be among the richest in the world, and Abdul Aziz used some of the income derived from them on national improvements.
Meanwhile, his younger brother Faisal observed all these occurrences. In 1958, the senior Al Saud princes realized they would face devastating consequences if they did not do something about King Saud. They approached Saud and asked him for his abdication, or resignation, from the throne. Although Faisal saw Saud’s behavior as destructive to the royal family, he didn’t necessarily want Saud to step down. Instead he wanted his brother to stay on as king but be more of a figurehead than a true ruler.