He replaced Dr Ahmed Alkholifey, who was in this position.
On Sunday, King Salman appointed Dr Fahd bin Abdullah Al-Mubarak as governor of the Saudi Central Bank (SAMA) on minister’s rank. It could be Al-Mubarak’s 2nd stint as the central financial institution chief. Earlier, he served as SAMA governor from December 2011 to May 2016. Al-Mubarak received a bachelor’s degree in civil engineering from Southern Methodist University, Dallas, Texas in the US. He received master’s degrees in business management, engineering management and accounting and taxation. He received a PhD in business management on the University of Houston, Texas. Al-Mubarak has laboured in several key roles in the Saudi financial sector and has accumulated years of experience in the personal area. He also served as chairman of the Saudi stock exchange board, Tadawul, from 2003 to 2011.
Before he was appointed SAMA chief, Al-Mubarak served as a minister of the country and a Saudi Cabinet member since 2018. He was also the Kingdom’s G20 Sherpa. He has been a royal court adviser since 2015 and secretary-general of the G20 Saudi Secretariat. He also served as a non-executive member of the SABIC board of directors’ investment committee from 2017 to 2019. Al-Mubarak also remained a member of the Saudi Shoura Council from 1999 to 2005. Al-Mubarak has also served at the board of several companies, including Al-Alamiya Insurance, Al-Malaz Group (2000 to 2002), Mobily (1998 to 2003), Saudi Hollandi Bank, National Industrialization and the Saudi Telecom Co. He was also chairman of Morgan Stanley Saudi Arabia’s board from 2005 to 2011, and general supervisor of Rana Investment Co. from 1992 to 1999.