Saudi Arabia names Fahad al-Mubarak as new central bank governor

Saudi Arabia's central bank governor Ahmed al-Kholifey was removed from his post and replaced by Fahad al-Mubarak in a decree by the king on Sunday, state media reported.

This would be al-Mubarak's second stint as governor of Saudi Arabian Monetary Authority (SAMA), one of the most sensitive positions in the kingdom. The decree said Kholifey, who had held the post since 2016, would become an adviser at the royal court.