Saudi Citizens Account program expanded to include students and 24-year-olds at home

Updated 05 October 2017

Saudi Citizens Account program expanded to include students and 24-year-olds at home

JEDDAH: The Saudi Citizens Account program has announced that 24-year-olds still living at home will be able to hold their own account, independent of their parents – according to Sabq.

The cash transfer scheme, which was set up to protect Saudi families from the impact – both direct and indirect - of the government’s structural economic reforms, sees financial allowances paid directly to individuals.

The extension of the program – that will also include students living in dorms – is now ready and recipients soon start receiving the first payments of the allowances.


Turki Al-Khalaif, CEO of Saudi Arabia’s Entrustment and Liquidation Center

Updated 2 min 53 sec ago

Turki Al-Khalaif, CEO of Saudi Arabia’s Entrustment and Liquidation Center

Turki Al-Khalaif has been CEO of the Entrustment and Liquidation Center (Infath) since December 2019.

He also worked as managing director at Infath from April 2019 to December 2019.

Al-Khalaif gained his bachelor’s degree in business administration from King Fahd University of Petroleum and Minerals, Dhahran, in 2003.

He received a high diploma in private equity from the London Business School in 2009 and an MBA in general management from the University of Hull in the UK in 2010.

Al-Khalaif also completed a master’s degree in investments analysis at the University of Stirling, Scotland, in 2011.

Before his current position, he worked as a financial analyst at Samba Financial Group, Alkhobar, from March 2003 to March 2004.

He also worked as an accounting assistance manager at Saudi Pharmaceutical Industries and Medical Appliances Corp., Qassim, between March 2004 and February 2009.

Al-Khalaif worked as a financial analyst at Morgan Stanley, Glasgow, between August 2010 and July 2011.

He also worked as CFO of the Warehousing & Logistics Services Co., Riyadh, from March 2013 to March 2015, and was an internal audit committee member and investment audit committee member from March 2013 to December 2017.

He was vice president of strategic and business development at Cayan Group in Riyadh and Dubai between March 2015 and January 2018.

Al-Khalaif was also ministerial adviser for the real estate contributions committee at the Ministry of Commerce and Investment, Riyadh, between October 2017 and October 2018.

He then became chief investment officer of the National Housing Co., Riyadh, from January 2018 to March 2019.