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Tuesday, 1 November 2016

Saudi replaces long time finance minister

Saudi replaces long time finance minister: Saudi Arabia’s finance minister Ibrahim Al-Assaf was replaced on Monday with Mohammed Al-Jadaan, formerly head of the kingdom’s Capital Markets Authority, after two decades in office. Bloomberg is positing the move as part of the ingoing shakeup in the Saudi cabinet as part of reforms, which among other reasons, target bringing in younger bureaucrats.

Also taking his leave was the Secretary General of the Organisation of Islamic Cooperation (OIC) Iyad Ameen Madani who announced to have resigned from his post yesterday due to “health reasons”, according to a statement by the OIC. Former Saudi Minister of Social Affairs Yusuf bin Ahmed Al-‘Uthaymeen was nominated as his replacement by Saudi, AMAY reports, a nomination which has the backing of Egypt’s Foreign Ministry. Madani’s resignation follows backlash over him having poked fun at President El Sisi earlier this week.

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