Dr. Fahd Al-Shathri, deputy governor of the Saudi Arabian Monetary Agency

Dr. Fahd Al-Shathri
Updated 19 May 2019

Dr. Fahd Al-Shathri, deputy governor of the Saudi Arabian Monetary Agency

Since June 2018, Dr. Fahd Al-Shathri has been the deputy governor of the Saudi Arabian Monetary Agency (SAMA). He was previously the deputy governor for research and international affairs at the same agency, a position he held for two years from 2016.

Al-Shathri served as an economic adviser to the Ministry of Finance between 2000 and 2011, and in 2009, he joined the board of the Islamic Corporation for the Development of the Private Sector (ICD).

In 2011, Al-Shathri was appointed an adviser to the executive director of the International Monetary Fund (IMF) in Washington. Later that year, he was appointed an alternate executive director of the IMF, before becoming an executive director — and an executive board member — in 2013.

Al-Shathri holds a bachelor’s degree in accounting from King Saud University and a master’s degree in economics from King Saud University in Riyadh. He received his Ph.D. in public finance from Lehigh University, in Bethlehem, Pennsylvania. He has written analytical columns for several Saudi publications on issues related to the US, Saudi Arabia and other Gulf Cooperation Council states.

Earlier this month, Al-Shathri attended the inauguration ceremony for First Abu Dhabi Bank’s (FAB’s) new Riyadh Branch, along with several other officials, including Dr. Ahmed Abdulkarim Alkholifey, governor of SAMA; Khaldoon Khalifa Al-Mubarak, chairman of FAB’s board executive committee; Jassim Mohammed Al-Siddiqi, chairman of FAB’s board audit committee; and other members of the bank’s leadership team.

The opening of FAB’s Riyadh Branch is expected to further strengthen commercial ties between the UAE and Saudi Arabia.

High-level investment forum aims to further boost business between Saudi Arabia and Japan

Updated 18 June 2019

High-level investment forum aims to further boost business between Saudi Arabia and Japan

  • Japan is one of Saudi Arabia’s most important economic partners

TOKYO: More than 300 government, investment and industry leaders on Monday took part in a high-level gathering aimed at further boosting business opportunities between Saudi Arabia and Japan.

The Saudi Arabian General Investment Authority (SAGIA) welcomed key figures from the public and private sectors to the Saudi-Japan Vision 2030 Business Forum, held in Tokyo.

Hosted in partnership with the Japan External Trade Organization (JETRO), the conference focused on the creation of investment opportunities in strategic sectors of the Kingdom. Delegates also discussed key reforms currently underway to enable easier market access for foreign companies.

Speaking at the event, Saudi Economy and Planning Minister Mohammed Al-Tuwaijri, said: “Today’s forum is a testimony to the success of the strategic direction set by the Saudi-Japanese Vision 2030 two years ago, which seeks to drive private-sector involvement, both by partnering with public-sector entities.”

SAGIA Gov. Ibrahim Al-Omar said: “At SAGIA, we have been working on creating a more attractive and favorable business environment in Saudi Arabia, which is making it easier for foreign companies to access opportunities in the Kingdom.”

Japan is one of Saudi Arabia’s most important economic partners. It is the Kingdom’s second-largest source of foreign capital and third-biggest trading partner, with total trade exceeding $39 billion.

JETRO president, Yasushi Akahoshi, said: “Saudi-Japan Vision 2030 has made great progress since it was first announced. Under this strategic initiative, the number of cooperative projects between our two countries has nearly doubled, from 31 to 61, and represents a diverse range of sectors and stakeholders.”

Since 2016, the Saudi government has delivered 45 percent of more than 500 planned reforms, including the introduction of 100 percent foreign ownership rights, enhancing legal infrastructure and offering greater protection for shareholders.

As a result, the Kingdom has climbed international competitiveness and ease-of-doing-business rankings, with foreign direct investment inflows increasing by 127 percent in 2018 and the number of new companies entering Saudi Arabia rising by 70 percent on a year-on-year basis in the first quarter of 2019.