October 11, 2008
The International Working Group of Sovereign Wealth Funds (IWG), co-chaired by H.E. Hamad Al Hurr Al-Suwaidi, Under Secretary of Finance of Abu Dhabi and a Director of ADIA, presented the Santiago Principles to the International Monetary Fund's policy-guiding International Monetary and Financial Committee on October 11, 2008. The IWG made public the set of 24 voluntary Principles and related explanatory material and announced it has established a Formation Committee to explore the creation of a Standing Group of Sovereign Wealth Funds.
ADIA fully supports the voluntary Generally Agreed Principles and Practices (GAPP), also known as the "Santiago Principles", thereby confirming its desire to improve the understanding of Sovereign Wealth Funds' operations and practices; To underline its commitment to full compliance, ADIA has established an inter-departmental committee to oversee compliance with the GAPP; Furthermore, ADIA is analysing the feasibility of establishing a mechanism that would provide independent verification of its compliance with the GAPP.
Further information, including the "Santiago Principles", H.E. Hamad Al Hurr Al-Suwaidi's statement and press releases are available on the IWG website: www.iwg-swf.org.
May 1, 2008
Representatives of ADIA and 24 other Sovereign Wealth Funds (SWF) meet at the International Monetary Fund (IMF) headquarters in Washington, D.C. and establish an International Working Group (IWG), which will be co-chaired by senior representatives from ADIA and the IMF. The objective of the IWG is to arrive at a common set of voluntary principles for SWFs that properly reflects their investment practices and objectives.
For details, please see the IMF press release here:
IMF Press Release 1 May 2008
March 20, 2008
ADIA welcomes the opportunity to have voluntarily participated in the development of the policy principles proposed by the U.S. Department of the Treasury:
ADIA Press Statement 20 March 2008
March 20, 2008
Officials from the governments of United States, Abu Dhabi and Singapore, and representatives of ADIA and GIC meet in Washington, D.C. to discuss best practices on international investments and arrive at policy principles for SWF and for countries receiving SWF investment.
For detailed press statement and to view the policy principles, please visit the U.S. Treasury Web site at:
US Treasury Press Release 20 March 2008