Royal order sets up National Development Fund

King Salman issued a number of royal decrees on Wednesday announcing the establishment of a National Development Fund, and a minor Cabinet reshuffle moving Sulaiman Al-Hamdan from the Ministry of Transport to the Ministry of Civil Service, whose previous minister was dismissed in April.  
Nabeel Al-Amudi, head of the Saudi Ports Authority, has been appointed transport minister.
The National Development Fund will be the parent body of organizations such as the Saudi Fund for Development, the Saudi Industrial Development Fund, the Agricultural Development Fund, the Social Development Bank, the Human Resources Development Fund and any development fund or bank that would be linked to the prime minister’s office under the new program.
The National Development Fund, which will supervise the functions of its affiliated bodies, will have a board of directors headed by the deputy prime minister and it will comprise a membership of not less than seven members nominated by the prime minister.
The board of directors of the National Development Fund will assume all tasks and powers, and make decisions, take progressive measures and other actions deemed necessary for establishing the fund.
The National Development Fund shall have a governor with a minister’s rank, who will be the executive officer of the fund.
According to the decree, the Experts Committee of the Council of Ministers will prepare a set of draft regulations for the operations of the fund, taking into account the aims and objectives stipulated by the king’s order. The said draft is to be submitted within 30 days from the date of the order.
Among other decrees, Abdulfattah bin Sulaiman Mashat was appointed as deputy minister of Hajj and Umrah, with excellent rank.
Saad bin Moqbil Al-Maimooni was appointed as governor of Taif, with excellent rank.
Isam bin Hamad bin Ali Al-Mubarak was appointed as governor of the Real Estate General Commission, with excellent rank, according to another royal order.
According to other decrees, Majid bin Ibrahim Al-Fayadh was chosen as general executive supervisor of the general corporation of King Faisal Specialist Hospital and Research Center (KFSHRC), with excellent rank.
Mohammed Ibrahim bin Abdul Aziz Al-Hasan was relieved of his post as rector of Najran University and he was replaced by Falah bin Faraj bin Ali Al-Subaie with excellent rank.
Nabil bin Abdulqadir bin Hamzah Koshak was relieved of his post as rector of Al-Baha University and the vacancy was filled by Abdullah bin Yahia bin Al-Hossain Qasim.
Abdullah bin Mifrih bin Nahar Al-Rooqi was appointed as rector of Tabuk University with excellent rank.