RIYADH: Saudi Arabia’s King Salman yesterday issued several new decrees, including the joining of the Ministry of Housing with the Ministry of Municipal and Rural Affairs.
The new ministry will be renamed the Ministry of Municipal and Rural Affairs and Housing. Majed bin Abdullah Al Hogail was named minister responsible for the portfolio.
Another decree relieved Dr Ahmed Abdulkarim Alkholifey from his post as governor of the Central Bank of Saudi Arabia and replaced by Dr Fahad bin Abdullah bin Abdullatif Al Mubarak at the rank of minister.
Alkholifey was appointed as an adviser at the Royal Court.
- Saudi Public Investment Fund plans to double its assets to 4 trillion riyals ($1.07trn) by 2025, Prince Mohammed bin Salman said, a move that would make it one of the biggest sovereign wealth funds in the world.
The fund would invest 3trn riyals in new sectors over the next 10 years, the prince added as he launched the fund’s five-year plan in a speech on state TV.
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