Dubai, United Arab Emirates (CNN) – Saudi Arabia’s King Salman bin Abdulaziz on Sunday issued a royal order relieving the governor of the Saudi Central Bank, Ahmed bin Abdul Karim al-Khulaifi, from his post.
The royal order stated that Fahd bin Abdullah bin Abdul Latif al-Mubarak had been appointed as governor of the Central Bank, with a “ministerial rank,” according to what was reported by Peyton and the Saudi Press Agency.
This is the second time that Al-Mubarak has assumed the position of Governor of the Central Bank, as between 2011 and 2016 he held the position of Governor of the Saudi Arabian Monetary Agency (SAMA), whose name was changed last November as part of a new central bank system approved by the Saudi Council of Ministers, To become the “Central Bank of Saudi Arabia”, while retaining the abbreviated name “SAMA”.
Al-Khulaifi was appointed, according to the royal order, an advisor at the royal court, with the rank of minister, after he had held the position of governor of the Central Bank since 2016.
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