Kingdom of Saudi Arabia Appoints New Central Bank Governor
The Kingdom of Saudi Arabia (KSA) has announced the relacement of Fahd bin Abdullah from his current post and marking an era of economic prosperity in the Arab country. According to the Saudi state news agency SPA, he will be appointed as adviser to the Royal Court.
Fahd bin Abdullah had been part of the Council of Ministers and Minister of State from the month of December 2019 to January 2021. In January 2021, Saudi monarch appointed him as the Governor of the Central Bank.
Ayman bin Mohamed bin Saud Al Sayari is appointed as the new governor of the Central Bank while Saudi Arabia achieved its first budget surplus since 2013 in 2022. The country is also expected to register a surplus of 4,255 million dollars in the 2023 budget.
This news is marked as a major development in the history of Kingdom of Saudi Arabia, at a time when the country’s economy is enjoying its golden period due to the rising oil prices.