(RAHNUMA) In a landmark development for the Kingdom, Saudi Arabia has appointed Fahd bin Abduljalil bin Ali Al-Saif as Minister of Investment, marking the first time a Shia Muslim has been elevated to a full cabinet post in the country’s modern history.
The appointment, made by royal decree, is being widely viewed as a significant symbolic step in the Kingdom’s evolving approach to governance and social inclusion. Al-Saif is a seasoned economic policymaker who previously held senior positions in Saudi Arabia’s financial and investment institutions, including roles connected to sovereign finance and public investment strategy.
It is important to note that this appointment is not to the Ministry of Finance. The Finance portfolio remains under its current leadership, while Al-Saif’s role focuses on attracting investment, overseeing economic partnerships, and advancing the Kingdom’s long-term development goals under Vision 2030.
Observers across the region see the move as both historic and politically meaningful, reflecting gradual changes in representation at the highest levels of Saudi governance, even as the Kingdom maintains continuity in its core economic and fiscal leadership.
