RIYADH — Fahad Al Saif has been appointed Saudi Arabia’s Minister of Funding by royal order issued by Custodian of the Two Holy Mosques King Salman, marking a transition from his senior management roles on the Public Funding Fund (PIF) to the helm of a ministry central to the Kingdom’s financial transformation.
Al Saif strikes into the place after taking part in a pivotal position at PIF, the place he led international funding finance and oversaw funding technique and financial research.
His tenure on the sovereign wealth fund targeted on shaping capital allocation frameworks, creating market methods, and strengthening relationships with worldwide monetary establishments and traders.
His appointment comes at a time when Saudi Arabia is intensifying efforts to draw overseas direct funding and deepen international partnerships consistent with Imaginative and prescient 2030 targets.
His background in capital structuring, strategic planning, sustainability frameworks, and institutional financing is anticipated to help the Ministry of Funding’s mandate to align long-term financial planning with sensible financing mechanisms.
At PIF, Al Saif served as Head of World Funding Finance and beforehand as Head of Funding Technique and Financial Research.
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In parallel along with his govt roles, he chaired the board of Emaar The Financial Metropolis and plane leasing firm AviLease.
He additionally served on the boards of the Saudi Insurance coverage Authority, ACWA Energy, the Saudi Actual Property Refinance Firm, and the Regional Voluntary Carbon Market Firm, and held the place of Vice Chairman of Bahri.
Al Saif brings greater than 20 years of expertise throughout company banking, funding banking, and international monetary companies.
He beforehand served as Chief Government Officer and board member of the Nationwide Debt Administration Middle, the place he performed a job in creating the Kingdom’s debt administration framework.
He additionally labored as an adviser to the Minister of Finance and based the Public Debt Administration Workplace on the Ministry of Finance.
His earlier board memberships embody the Nationwide Middle for Privatization, Gulf Worldwide Financial institution – Saudi Arabia, and the Worldwide Islamic Commerce Finance Company.
Earlier than becoming a member of public sector management roles, Al Saif held a number of positions at Saudi Awwal Financial institution and occupied senior roles at HSBC Saudi Arabia.
He additionally led the preliminary public providing of the Nationwide Business Financial institution and served on the advisory committee of the Capital Market Authority.
