Saudi finance minister sacked by royal decree

Saudi Arabian Finance Minister Ibrahim Al-Assaf, seen in 2012, was removed from his position by royal decree October 31, 2016Saudi Arabia on Monday sacked its veteran finance minister as the kingdom undergoes a major economic restructuring because of lower oil revenues. Ibrahim al-Assaf “has been removed from his position”, said a royal decree, one of a series of orders from King Salman, published by the official SPA news agency. Assaf was replaced by Mohammed Aljadaan, head of the Capital Market Authority which regulates the stock market.

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