IQNA – Saudi Arabia’s King Salman bin Abdulaziz appointed a Shia figure as the country’s minister of investment.
Previously, Khaled Al-Falih held this position. He has reportedly been appointed as the minister of state.
His replacement comes after making critical statements about the massive ‘Line’ project.
Al-Saif, born in 1976 in Sharqiya Province and a graduate of information management from King Fahd University of Petroleum and Mines, has more than two decades of experience in the fields of debt management, investment and international financing, and has been responsible for key areas of global financing and investment strategy at the Saudi Public Investment Fund since 2021.
He is the founder of the Public Debt Management Office of the Ministry of Finance and the first CEO of the National Debt Management Center, and has senior management experience at SABB and HSBC Saudi Arabia.
Al-Saif has also been a member and chairman of the boards of several key institutions, such as NEOM, ACWA Power, Gulf International Bank, King Abdullah Economic City, King Salman Airport Development Company, and the Future Investment Initiative Foundation.
His most important achievements include developing a green financing framework, issuing the first 100-year green bonds by a sovereign wealth fund, and leading programs to diversify the financing sources of large projects.
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