عربي English Türkçe اردو فارسى
Logo
Latest News
Gulf

Al-Saif: From Engineering Saudi PIF’s Strategy to Investment Minister 

Saudi Arabia's newly-appointed Investment Minister Fahad Al-Saif. (PIF)
Saudi Arabia's newly-appointed Investment Minister Fahad Al-Saif. (PIF)
TT
TT

Al-Saif: From Engineering Saudi PIF’s Strategy to Investment Minister 

Saudi Arabia's newly-appointed Investment Minister Fahad Al-Saif. (PIF)
Saudi Arabia's newly-appointed Investment Minister Fahad Al-Saif. (PIF)

Fahad Al-Saif has been appointed Minister of Investment of Saudi Arabia by royal order of Custodian of the Two Holy Mosques King Salman bin Abdulaziz, capping a career arc that brings financial expertise together with economic vision.

The appointment follows a pivotal tenure at the Saudi Public Investment Fund (PIF), where he helped shape the Kingdom’s overarching investment strategy and led global investment financing.

The move comes at a moment when efforts to attract foreign capital and deepen international partnerships are accelerating.

Drawing on deep experience in capital structuring, market and sustainability strategies, and the management of relationships with financial institutions and investors, Al-Saif is set to usher the Ministry of Investment into a new phase, one defined by the integration of strategic planning with smart financing to support the goals of Vision 2030.

At the PIF, Al-Saif served as Head of Global Investment Financing and previously led the General Department of Investment Strategy and Economic Studies.

Beyond his executive roles, Al-Saif has held a number of prominent board positions. He chaired the boards of Emaar Economic City and aircraft lessor AviLease, and served as a board member of the Saudi Insurance Authority, ACWA Power, the Saudi Real Estate Refinance Company, and the regional Voluntary Carbon Market Company. He also held the position of Vice Chairman of Bahri.

Al-Saif brings more than 20 years of experience across corporate banking, investment, and global banking services. He previously served as Chief Executive Officer and board member of the National Debt Management Center, acted as an adviser to the Minister of Finance, and founded the Public Debt Management Office at the Ministry of Finance.

His past board memberships include the National Center for Privatization, Gulf International Bank – Saudi Arabia, and the International Islamic Trade Finance Corporation.

Earlier in his career, Al-Saif spent several years in the banking sector, holding multiple positions at the Saudi First Bank and senior leadership roles at HSBC Saudi Arabia. He also led the initial public offering of the National Commercial Bank and served on the advisory committee of the Capital Market Authority.

Most Viewed

 
 
Gulf

42,000 Iraqi Pilgrims Arrive in Makkah

Muslim pilgrims at the Grand Mosque complex, ahead of the annual hajj pilgrimage, in the holy city of Makkah, Saudi Arabia, May 22, 2026. Picture taken with a mobile phone. REUTERS/Ibraheem Abu Mustafa
Muslim pilgrims at the Grand Mosque complex, ahead of the annual hajj pilgrimage, in the holy city of Makkah, Saudi Arabia, May 22, 2026. Picture taken with a mobile phone. REUTERS/Ibraheem Abu Mustafa
TT
TT

42,000 Iraqi Pilgrims Arrive in Makkah

Muslim pilgrims at the Grand Mosque complex, ahead of the annual hajj pilgrimage, in the holy city of Makkah, Saudi Arabia, May 22, 2026. Picture taken with a mobile phone. REUTERS/Ibraheem Abu Mustafa
Muslim pilgrims at the Grand Mosque complex, ahead of the annual hajj pilgrimage, in the holy city of Makkah, Saudi Arabia, May 22, 2026. Picture taken with a mobile phone. REUTERS/Ibraheem Abu Mustafa

Sami al-Masoudi, head of Iraq’s High Commission for Hajj and Umrah, said 42,000 Iraqi pilgrims have arrived in Saudi Arabia, praising the Kingdom’s efforts to ensure pilgrims’ comfort through a wide range of services and facilities aimed at helping worshippers perform their rituals with ease.

Al-Masoudi told Asharq Al-Awsat that the arrival of Iraqi pilgrims came amid early and well-organized preparations following directives from Saudi Arabia’s Ministry of Hajj and Umrah, which called for readiness across all sectors, including accommodation, catering, services at the holy sites, and internal and external transportation, to guarantee pilgrims’ comfort and the smooth performance of rituals.

One of the most notable features of this year’s Hajj season for Iraqi pilgrims is the adoption of sacrificial offerings services through the electronic platform after they became managed under the Saudi Project for Utilization of Hady and Adahi, a step al-Masoudi described as “qualitative.”

“It reflects the level of development and organization within the Hajj system,” he said.

“Today, all contracts, including sacrificial offerings, are completed electronically, which has helped simplify procedures, reduce bureaucracy and improve the level of services provided to pilgrims,” he added.

The Saudi Project for Utilization of Hady and Adahi is one of the initiatives of the Royal Commission for Makkah City and Holy Sites.

The project aims to facilitate the performance of Hady and expiation rituals for pilgrims and enable Muslims worldwide to carry out sacrifices, charity donations and aqiqah on their behalf, while distributing the meat to eligible beneficiaries inside and outside the Kingdom.

Al-Masoudi also highlighted the major transformation and development projects supported by artificial intelligence technologies that Saudi Arabia has deployed to serve pilgrims.

“Year after year, we witness continuous progress and major efforts by the Saudi Ministry of Hajj and Umrah and supporting agencies in the Kingdom, especially in automation and digital transformation, which directly improve pilgrims’ comfort and the quality of services provided to them,” he said.

Saudi Arabia has consistently worked to improve services for pilgrims arriving from around the world through projects that are upgraded and expanded annually, reflecting the leadership’s commitment to serving pilgrims and Umrah performers, enhancing service quality and enriching their religious experience in line with the goals of Saudi Vision 2030.

The first groups of Iraqi pilgrims began arriving in the Kingdom through the al-Haditha border crossing in al-Qurayyat and the Jadidat Arar crossing, where entry procedures were completed smoothly within minutes under an integrated service system designed to ease the burden of long-distance travel and provide a more comfortable and reassuring experience for pilgrims traveling by land to Makkah.

Expressions of gratitude were evident among Iraqi pilgrims, many of whom described the reception as “beyond expectations,” saying the welcome they received upon entering the Kingdom gave them a sense of comfort and reassurance even before reaching the holy sites.

Gulf

Saudi Interior Minister Reviews Readiness of Hajj Security Forces for Hajj Season

Saudi Minister of Interior and Chairman of the Supreme Hajj Committee Prince Abdulaziz bin Saud bin Naif bin Abdulaziz reviewed the readiness of the Hajj Security Forces. (SPA)
Saudi Minister of Interior and Chairman of the Supreme Hajj Committee Prince Abdulaziz bin Saud bin Naif bin Abdulaziz reviewed the readiness of the Hajj Security Forces. (SPA)
TT
TT

Saudi Interior Minister Reviews Readiness of Hajj Security Forces for Hajj Season

Saudi Minister of Interior and Chairman of the Supreme Hajj Committee Prince Abdulaziz bin Saud bin Naif bin Abdulaziz reviewed the readiness of the Hajj Security Forces. (SPA)
Saudi Minister of Interior and Chairman of the Supreme Hajj Committee Prince Abdulaziz bin Saud bin Naif bin Abdulaziz reviewed the readiness of the Hajj Security Forces. (SPA)

Saudi Minister of Interior and Chairman of the Supreme Hajj Committee Prince Abdulaziz bin Saud bin Naif bin Abdulaziz reviewed the readiness of the Hajj Security Forces to implement approved field and organizational plans for the 1447 AH Hajj season during the annual ceremony held by participating Hajj security forces in Makkah, the Saudi Press Agency said.

Director of Public Security and Chairman of the Hajj Security Committee Mohammed Al-Bassami said in a speech delivered on the occasion that the Saudi leadership has mobilized all resources and capabilities to serve pilgrims, making the Kingdom a leading global model in crowd management and in achieving the highest levels of organization and smooth movement. These efforts enable pilgrims to perform rituals in safety and tranquility.

He explained that the Hajj Security Forces have commenced implementing this season’s duties through integrated security and preventive plans built on lessons learned from previous years and designed to anticipate various scenarios and contingencies.

The plans aim to ensure the safety and security of pilgrims in Makkah, the holy sites, Madinah, and along all routes used by pilgrims.

Al-Bassami also stressed that authorities will firmly confront any attempt to politicize Hajj, disrupt pilgrims’ security, or disturb the performance of rituals. He underscored the full readiness of Hajj Security Forces to carry out approved plans.

The ceremony included several security and field simulations demonstrating the readiness and operational capabilities of participating forces. It also featured displays of security vehicles, modern technologies used during Hajj, and support from Security Aviation and field support vehicles.

The ceremony was attended by members of the Supreme Hajj Committee, security and military commanders, and several senior officials.

 

Gulf

Saudi Arabia Condemns Explosion near Syrian Defense Ministry in Damascus

Logo of the Saudi Ministry of Foreign Affairs
Logo of the Saudi Ministry of Foreign Affairs
TT
TT

Saudi Arabia Condemns Explosion near Syrian Defense Ministry in Damascus

Logo of the Saudi Ministry of Foreign Affairs
Logo of the Saudi Ministry of Foreign Affairs

Saudi Arabia condemned on Thursday the explosion that occurred near a building belonging to the Syrian Ministry of Defense in Damascus, which resulted in the death of a soldier and injuries to several civilians, the Saudi Press Agency said.

The Ministry of Foreign Affairs said in a statement that Saudi Arabia reiterates its firm stance against all forms of violence and expresses its condolences and solidarity with Syria, wishing the injured a speedy recovery.