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A bill introduced in Parliament by MP Yassine Jaber envisions an independent sovereign wealth fund for the country's income from petroleum – and potentially other natural resources.According to the bill's text, the fund would be run by an eight-member board of directors appointed by the Cabinet. Crucially, the fund would manage two major accounts: savings and development. If foreign-currency debt exceeds 20 percent of GDP, a portion of the account's funds are used to pay down this debt.One of the major rules of investment is the 80-20 foreign-domestic split: At least 80 percent of the fund's capital must be invested abroad, while 20 percent can put into job-creating local investments.
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