2006 News Story

Financial hub to be established in Riyadh

Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz today announced plans to build a financial center in Riyadh. The new center will serve as a hub for the Kingdom’s financial institutions, and will be called the King Abdullah Financial Center.

The King made the announcement in an address at a finance seminar in remarks delivered by Minister of Finance Ibrahim Al-Assaf.

“We are keen on making our economy a prosperous and diversified one as well as an economy which is capable of playing a pioneering role at regional and international arenas and meeting the aspirations of the citizens,” King Abdullah said in his remarks.

Al-Assaf said in a statement after the seminar that preparations for the center have been underway for two years, and that construction on the project will begin very soon.