[2][3] The award is located in King Abdul Aziz Public Library in Riyadh, Saudi Arabia.
[4] The vision of the award is "to promote cultural exchange among peoples of the world and to advance intellectual interaction among civilizations."
The shared prize of $1 million was called the richest translation award in the world.
One of the 2009 winners, Hartmut Fähndrich, said that (as of October 2012) only a fraction of the prize money he was supposed to have shared with an Arab colleague has arrived so far.
[3] The 2011 ceremony was held in Beijing, attended by Prince Abdulaziz bin Abdullah, Chinese Minister of Culture Cai Wu, Saudi Ambassador to China Yahya Al-Zaid.