King Salman bin Abdulaziz issued a royal decree on Jan. 24, 2021, to appoint Fahad Al-Mubarak as Central Bank (SAMA) Governor.
Al-Mubarak obtained a PhD in Business Administration in operation and production from the University of Houston, the US, and Master's degrees in Industrial Engineering, Financial Accounting and Taxes, and Business Administration.
He held the position of the Minister of State and Cabinet member from December 2018 until January 2021. He was appointed the Secretary General in the Saudi Secretariat of the G20.
Al-Mubarak, who helmed SAMA from 2011-2016, was previously chairman and managing director of Morgan Stanley, Saudi Arabia. He also served as chairman of the Saudi Stock Exchange.
He was a member of the Shura Council from 1999 to 2005 and held the position of general manager of Rana Investment Company from 1992 to 1999.
In addition, Al-Mubarak served as a board member in a number of major companies, such as Saudi Basic Industries Corp. (SABIC), stc Group, Etihad Etisalat Co. (Mobily), National Industrialization Co.(Tasnee), and Saudi Hollandi Bank.