New central bank governor named in Saudi Arabia

Published: March 16, 2009

In February, the Saudi government named Muhammed Al-Jasser to be the new governor of the Saudi Arabian Monetary Agency (SAMA), the country’s central bank.

Previously vice-governor, Al-Jasser replaces Hamad Saud Al-Sayyari, who has held the post since 1983.

Finance minister Ibrahim Al-Assaf said Al-Jasser’s appointment would not lead to a change of policy. “I don’t expect change. There will be continuity," Al-Assaf told Dubai-based al-Arabiya television.

Al-Jasser started his career at the ministry of finance and national economy of Saudi Arabia as the head of financial and economic analysis in 1981. He later joined the IMF as economic advisor to the executive director for Saudi Arabia in 1988, eventually becoming the executive director at the IMF, a post he held until 1995. He was then appointed vice-governor of the central bank of Saudi Arabia.