Saudi Arabia’s King Salman issued a royal decree appointing a new governor of the Kingdom’s central bank and moving its former boss to a role as advisor to the Royal Court, according to reports.
Ayman Alsayari was appointed to the role of central bank governor, replacing Fahad al-Mubarak, a decree carried on the state media on Thursday said.
Alsayari was vice-governor for investment and research at the central bank and is a member of the board of directors of Saudi Arabia’s National Debt Management Center, according to Reuters.
Al-Sayari earned a master’s degree in finance from George Washington University in the US, a bachelor’s degree in accounting from King Fahd University of Petroleum and Minerals in Dhahran, and completed a general management program at Harvard Business School.
Al-Mubarak would now become an adviser at the royal court, a separate decree said.
The move by King Salman concludes a second stint as head of the central bank for Al-Mubarak, who took the role for a second time in 2021 after being governor from 2011 to 2016.
High oil prices had last year helped Saudi Arabia’s fiscal balance tilt to its first surplus since 2013.
