Struggle With Faisal
A fierce struggle between Ibn Saud's most senior sons, Saud and Faisal, erupted immediately after his death. The increase in oil revenues did not solve the financial problem associated with the debts Saud had inherited from his father, estimated to have been $200 million in 1953. In fact, this debt more than doubled by 1958, when it reached $450 million. The Saudi riyal lost half of its official value against the dollar. Both ARAMCO and international banks declined Saudi's demand for credit. Saud suspended the few government projects he had initiated, but continued his spending on luxurious palaces.
Saud and Faisal fought an internal battle over the definition of political responsibilities and the division of government functions. Saud is often associated among other things with plundering of oil revenues, luxurious palaces, and conspiracy inside and outside of Saudi Arabia while Faisal is associated with sobriety, piety, puritanism, financial wisdom, and modernization. Moreover, the conflict between the two brothers is often described as originating from the desire of Faisal to curb his brother's spending and solve Saudi Arabia's financial crisis.
The battle between the two brothers was fought over the role to be assigned to the Council of Ministers. Saud abolished the office of prime minister by royal decree, thus enforcing his position as King and de facto prime minister. Saud thought of himself as both King and prime minister whereas Faisal envisaged more powers being in his own hand as Crown Prince and deputy prime minister.
Read more about this topic: Saud Of Saudi Arabia
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