FaceOf: Mohammed Al-Jadaan, Saudi Finance Minister

Saudi Minister of Finance Mohammed Al-Jadaan arrives to attends the Euromoney conference in the Saudi capital Riyadh on May 2, 2018 . The two-day conference will focus on Saudi Arabia's finance and investments. (FAYEZ NURELDINE / AFP)
Updated 09 May 2018
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FaceOf: Mohammed Al-Jadaan, Saudi Finance Minister

  • Al-Jadaan attained a degree in Islamic economics from Imam Muhammad bin Saud Islamic University.
  • Al-Jadaan: This year, we are seeking to distribute government spending in a balanced manner throughout the fiscal year.

The first quarter budget performance report for the fiscal year 2018 shows significant growth in non-oil revenues and anticipated expenditure increases on an annual basis, Saudi Arabia’s Finance Ministry recently announced. 

Minister of Finance Mohammed Al-Jadaan said: “This year, we are seeking to distribute government spending in a balanced manner throughout the fiscal year and reduce seasonal expenditure, in order to boost economic growth rates and maximize the benefits.”

He  has been finance minister since November 2016. Before this, Al-Jadaan served as chairman of the Capital Markets Authority, chairman of the board of directors of the Saudi Center for Commercial Arbitration and special adviser to the board of directors at Morgan Stanley Saudi Arabia. He was also a commercial lawyer and the co-founder of Al-Jadaan and Partners Law Firm in cooperation with Clifford Chance from 1995-2015.

Al-Jadaan attained a degree in Islamic economics from Imam Muhammad bin Saud Islamic University and a degree in legal studies from the Institute of Public Administration in Riyadh.

He specialized in commercial law, finance and financial market transactions, and directed a team of lawyers in the provision of legal services and contracts in transactions and joint ventures in the sectors of energy, petrochemicals, mining, water desalination, privatization and partnership between the public and private sector, project finance and initial public offers on the stock markets.

Al-Jadaan is also the chairman of the Financial Sector Development Program committee, the chairman of the Fiscal Balance Program committee, the chairman of the Financial Stability Committee, the chairman of the board of the General Authority of Customs, and the chairman of the Saudi side of the subcommittee of the high-level Saudi-Chinese Joint Committee.


Prince Turki: Purveyors of terror not from one religion

Updated 16 min 44 sec ago
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Prince Turki: Purveyors of terror not from one religion

  • Saudi Arabia’s former diplomat commends Arab News for ‘Preachers of Hate’ project
  • The campaign, in print and online, analyzes the words and deeds of extremist preachers and clerics from all religions and nationalities, places them in context, and explains how they fuel terrorism

RIYADH: Saudi Arabia’s former ambassador to the US and UK, Prince Turki Al-Faisal, has praised the weekly “Preachers of Hate” project that Arab News launched online and in print on Sunday.

“I think this is something that Arab News has stood for since its establishment more than 40 years ago,” he told the newspaper with regard to the project, which highlights extremists from various religions who incite hatred and spread terror worldwide.

“So I congratulate us, as readers of this service that Arab News is providing us. 

“Exposing the purveyors of hate, whoever they may be, is an essential part of combatting terrorism and hate speech. So good luck.”

Prince Turki said the recent terrorist attacks against peaceful worshippers at two mosques in Christchurch, New Zealand, were a “horrific crime” perpetrated by a hateful purveyor of bias and prejudice.

He added that the murderer is a “perfect example of what we’re combatting in the Kingdom. 

“The efforts of the Custodian of the Two Holy Mosques King Salman, and his Crown Prince Mohammad bin Salman, emphasize the need to stand up to these hateful criminals who distort the teachings of religion. 

“Unfortunately, these purveyors of mayhem, destruction and terrorism come from all religious and philosophical backgrounds.”

When asked by Arab News whether Daesh was truly defeated, Prince Turki said: “I don’t know.” 

He added that Saudi Arabia succeeded in combatting Al-Qaeda, yet from that group came Daesh, which he referred to as “fahish,” which means obscene in Arabic.

“Now we see claims of the eradication of fahish. What will follow we will have to wait and see,” he said.

“But if you look at some geographical areas — from the Philippines through to Afghanistan, Indonesia, all the way to North Africa and some of the Sahel countries in Africa — there are still those who are carrying the flag of fahish. 

“So maybe in Syria and Iraq there has been success in removing fahish from the scene, but it exists in other places.”