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A Kerala family may come into Rs 5,000 crore Saudi bonanza

One family in Kerala, the Keyis of Kannur district, may have struck gold -- the state government has taken up with the centre the issue of about $900 million due to them, being held by the treasury of Saudi Arabia.

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The state government is urging the centre to intervene to ensure the transfer of the money, amounting, in the 1950s, to 1.4 million Saudi riyals (one riyal today is equal to Rs 14.40), which has been lying in the Saudi treasury for the past nearly six decades.

Speaking to IANS, P Naseer, director of the Minority Welfare Department, said that the Keyi family had, for over ten years, been trying to gain possession of the amount.

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