Saudi Finance Minister

Mohammed Al-Jadaan has served as the Minister of Finance of Saudi Arabia since November 2016. His tenure has been marked by significant economic reforms and a focus on diversifying the Kingdom’s economy away from its traditional reliance on oil revenues.

Al-Jadaan’s career began in law. He graduated from King Saud University with a degree in Sharia Law and later established his own law firm, Al-Jadaan & Partners Law Firm, where he specialized in commercial law and financial regulations. His experience in the legal and financial sectors provided him with a strong foundation for his later role in government.

Prior to becoming Minister of Finance, Al-Jadaan held several key positions within the Saudi government. He served as the Chairman of the Capital Market Authority (CMA), the regulatory body responsible for overseeing the Saudi stock market, Tadawul. During his time at the CMA, he oversaw significant reforms aimed at improving market transparency, corporate governance, and investor protection. He also played a crucial role in opening up the Saudi stock market to qualified foreign investors, a move designed to attract international capital and boost market liquidity.

As Minister of Finance, Al-Jadaan has been instrumental in implementing the Saudi Vision 2030, a comprehensive plan for economic diversification and social reform. A central element of this vision is reducing the Kingdom’s dependence on oil revenues and developing new industries such as tourism, technology, and renewable energy. He has overseen the implementation of fiscal policies aimed at achieving this goal, including introducing value-added tax (VAT), reducing government subsidies, and streamlining government spending.

Al-Jadaan has also been a strong advocate for fiscal discipline and sustainable economic growth. He has emphasized the importance of maintaining a balanced budget and reducing government debt. He has worked to improve the efficiency of government spending and to ensure that public funds are used effectively to support economic development. He’s navigated challenging periods, including the sharp decline in oil prices and the economic impact of the COVID-19 pandemic, implementing measures to mitigate the impact on the Saudi economy.

His international engagement is also noteworthy. Al-Jadaan represents Saudi Arabia in various international forums, including the G20. He has actively participated in discussions on global economic issues and has worked to promote international cooperation on economic and financial matters. He’s been a proponent of strengthening ties with international financial institutions and attracting foreign investment to Saudi Arabia.

Mohammed Al-Jadaan’s leadership as Minister of Finance has been crucial in navigating Saudi Arabia’s economic transformation. His focus on fiscal reform, diversification, and international cooperation has positioned the Kingdom for long-term sustainable growth in a rapidly changing global landscape.