Simplify the following text for a Grade 8 native English-speaking person.
Original: The original Al Jazeera channel was started in 1 November 1996 by an emiri decree with a loan of 500 million Qatari riyals ( US$ 137 million ) from the Emir of Qatar , Sheikh Hamad bin Khalifa .
Simplified: The first Al Jazeera channel was created in 1996 . This was made possible with 150 million US$ from the Emir of Qatar , Sheikh Hamad bin Khalifa .