A legacy of greatness 
In honor of Saudi Arabia’s rich heritage, King Salman decreed that Feb. 22 of each year be observed as Founding Day to commemorate the establishment of the Saudi state and be recognized as an official holiday.
Founding Day is a significant national occasion that reflects the deep historical, civilizational and cultural roots of Saudi Arabia when Imam Mohammed bin Saud founded the first Saudi state in 1727, which lasted until 1818.
During the reign of Imam Mohammed, significant developments were achieved, such as uniting the two parts of Diriyah under a single rule after they had been divided between two centers, and regulating the state’s economic affairs.
Additionally, Imam Mohammed was able to unify the Arabian Peninsula and usher in a new era of stability and security by implementing Islamic law (Shariah) in all aspects of life.
Seven years after the demise of the first Saudi state, Imam Turki bin Abdullah bin Mohammed bin Saud succeeded in restoring the state in 1824, establishing the second Saudi state, which lasted until 1891.
The second Saudi state upheld the same foundations and principles as the first, relying on Islam, ensuring security and stability, and implementing Shariah.
After 10 years, King Abdulaziz bin Abdulrahman Al-Faisal Al-Saud succeeded in establishing the third Saudi state in 1902 and unifying it under the name of the Kingdom of Saudi Arabia in 1932.
As part of the ambitious Vision 2030, led by the crown prince, the Kingdom has achieved major advances in all aspects of life — politically, economically, educationally, in healthcare, financially, and more
During King Abdulaziz’s reign, Saudi Arabia gained significant international political and economic prominence.
On the political front, King Abdulaziz succeeded in unifying the scattered regions of the vast country under the name of the Kingdom of Saudi Arabia in 1932.
Since then, the Kingdom has joined many international organizations and conventions, leveraging its strategic location and stability.
For example, Saudi Arabia was one of the first countries to sign the Charter of the United Nations in 1945.
Additionally, the Kingdom has contributed to the establishment of numerous international organizations aimed at promoting security, stability and justice, such as the Arab League in 1945.
On the economic front, these efforts culminated in the start of commercial oil production from Dammam Well No. 7 — aptly named the “Prosperity Well” — in 1938.
Oil flowed from this well in the first week of March 1938 at a depth of 1,440 meters below the surface.
The well’s production reached 1,585 barrels a day, and subsequently, output continued to increase.
Since the discovery of oil, the Kingdom has embarked on a journey of development and prosperity, guided by lofty principles and the strong, wise leadership of King Salman and Crown Prince Mohammed bin Salman.
As part of the ambitious Vision 2030, led by the crown prince, the Kingdom has achieved major advances in all aspects of life — politically, economically, educationally, in health care, financially, and more.
• Talat Zaki Hafiz is an economist and financial analyst. X: @TalatHafiz
