​ ​​​​​​​​​​​​​​​​​​​The Kuwait Investment Authority (KIA) is the oldest sovereign wealth fund in the world. KIA traces its roots to the Kuwait Investment Board, which was established in 1953, eight years before Kuwait's independence in 1961. In 1982, KIA was created by Law No. 47 as an autonomous governmental body responsible for the management of the assets of the country.​