Saudi Minister of Finance Mohammed Al-Jadaan has been appointed minister of economy and planning in addition to his existing role.
King Salman on Friday issued a royal decree moving Mohammed Al-Tuwaijri from his post as minister of economy and planning to become an adviser at the Royal Court.
Al-Jadaan has been the finance minister since November 2016. Prior to taking up the position, he served as chairman of the Capital Markets Authority, chairman of the Saudi Center for Commercial Arbitration’s board of directors, 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 to 2015.
Al-Jadaan gained a bachelor’s degree in Islamic economics from Imam Muhammad bin Saud Islamic University and a master’s degree in legal studies from the Institute of Public Administration in Riyadh.
He specialized in commercial law, financial market transactions, and directed a team of lawyers in the provision of legal services and contracts in transactions and joint ventures in the areas of energy, petrochemicals, mining, water desalination, privatization and partnership between the public and private sectors, project finance and initial public offerings on stock markets.
The minister is also chairman of the Financial Sector Development Program committee, the Fiscal Balance Program committee, the Financial Stability committee, the board of the General Authority of Customs, and the Saudi side of the subcommittee of the high-level Saudi-Chinese Joint Committee.