1996 News Story

New finance minister makes statement

The newly-appointed Minister of Finance and National Economy Dr. Ibrahim Bin Abdul Aziz Al-Assaf last night expressed delight at the royal confidence bestowed on him and said that his appointment comes at a time when Saudi Arabia is moving ahead through a stage of economic growth and financial stability under the leadership of Custodian of the Two Holy Mosques King Fahd together with Crown Prince Abdullah.  He stated that the current economic climate in Saudi Arabia is well suited for the private sector to play a significant role in the process of economic development, saying:  “The Kingdom has already set up a strong infrastructure and has been following a policy of free enterprise. The environment, in addition to its political stability, is ready for further investment and economic activity.”