Concerns have been raised regarding the lack of transparency and accountability in the PIF's operations, with allegations that MBS uses it to entrench his power without oversight.

Human Rights Watch has released a comprehensive report accusing Saudi Crown Prince Mohammed bin Salman of misusing the Public Investment Fund (PIF) for vanity projects that are linked to serious human rights abuses.

The PIF has seen remarkable growth, now managing approximately $925 billion in assets, a significant increase from just $84 billion a decade ago, reflecting MBS's consolidation of economic power since 2017.

MBS has centralized governance of the PIF, directing substantial state funds toward megaprojects that often neglect the economic and social rights of the Saudi population.

The report highlights that these megaprojects disproportionately impact marginalized groups, resulting in forced evictions and abuses of migrant workers.

For instance, in Jeddah, residents were forcibly evicted to make way for luxury developments, demonstrating the severe consequences of such projects.

The findings are based on extensive sources, including court documents and interviews with activists, underscoring the arbitrary use of power by MBS.

The report also revisits the 2018 murder of journalist Jamal Khashoggi, linking it to PIF-owned Sky Prime Aviation, which provided the aircraft used by the assassins.

Despite the PIF's wealth, Saudi Arabia has the highest poverty rate among Gulf Cooperation Council nations at 13.6%, indicating widespread economic hardship.

HRW calls for significant reforms in PIF governance to align with international standards, urging the Saudi government to enhance transparency and human rights protections.

The report advises global businesses to reconsider their associations with the PIF, emphasizing the need for thorough human rights assessments before engagement.

The Saudi government and PIF have not responded to the allegations made in the HRW report, raising further questions about accountability.