Mohammed Al-Jadaan

Anti-graft committee will ‘create new era of financial transparency’

Jeddah - Muslimchronicle

Saudi Arabia’s new super-committee to fight corruption will give confidence to investors, protect public funds and create a new era of financial transparency, government ministers and experts said on Sunday. The committee would enforce anti-corruption regulations within the rule of law and to international standards, said Mohammed Al-Jadaan, the minister of finance. Its work would “consolidate the reform approach adoptedRead more

Saudi finance minister pledges greater transparency to lure investors

London - Muslimchronicle

Saudi Finance Minster Mohammed Al-Jadaan told the Future Investment Initiative conference on Wednesday that increased financial transparency was vital to attract foreign investment. He also said it was a key part of the Kingdom’s Vision 2030 program to diversify the economy and make it less reliant on oil revenue. He was speaking at a panel discussion in response to aRead more

Saudi government adopts accounts to ease rise of energy

Jeddah - Muslimchronicle

Saudi Arabia adopted on Monday the “Citizen’s Account” to assist people of middle and low income in enduring the additional costs resulting from the gradual increase of energy prices, affirmed Minister of Finance Mohammed al-Jadaan. He pointed out that the global economy is growing and improving, adding that confidence in global financial markets is rising. During a speech before theRead more

Moody’s praises economic measures taken by Saudi

Riyadh - Muslimchronicle

Moody’s has affirmed that the drop in the Saudi budget deficit in the first six months of 2017 to less than the half compared to the same period in 2016 is a credit positive to the sovereign of the kingdom. Saudi Arabia has achieved a remarkable progress in revenues of the H1 of 2017, with revenues rising 29 percent comparedRead more

Saudi budget deficit halves as financial reforms kick in

London - Muslimchronicle

Saudi Arabia’s budget deficit halved in the first six months of the year following sweeping spending cuts that form part of an ambitious economic reform plan. The deficit shrank by 51 percent to SR72.73 billion ($19.38 billion) which officials said reflected progress made in improving state finances, which were hit by the dramatic decline in oil prices from mid-2014. “TheRead more

Tadawul: Saudi stocks post monthly gain of 6.92%

Jeddah - Arab Today

Saudi Arabia’s stock market ended a nine-day rising streak on Tuesday as banking shares were hit by profit taking, while bourses in the rest of the region were mixed. Saudi Arabia’s Tadawul All-Share Index (TASI) had surged 10.1 percent over the nine trading days through Monday, led by banks, after Riyadh’s huge international bond issue reduced jitters about the economy’sRead more

Who is Saudi Arabia's new finance minister?

Jeddah - Arab Today

Mohammed Al-Jadaan, Saudi Arabia’s new minister of finance, is widely seen as a reformer within the government and a close ally of Deputy Crown Prince Mohammed bin Salman, according to analysts. Al-Jadaan, a top lawyer appointed to the Capital Market Authority in early 2015, oversaw the Saudi bourse opening to more foreign investments last year as well as several moreRead more