Saudi King Salman issued a royal order this week to establish a nationwide fund, the National Development Fund.
The fund, which would report to the prime minister, would include the Saudi Fund for Development, the Saudi Industrial Development Fund, the Agricultural Development Fund, the Social Development Bank and the Human Resources Development Fund, reads the order aired by the Saudi Press Agency.
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The National Development Fund shall undertake the overall supervision of all the entities mentioned above.
The National Development Fund shall have a Board of Directors chaired by the Deputy Prime Minister and a membership of no less than seven members to be appointed by the Prime Minister, it stated.
Several other royal orders were issued today.
They included relieving Sulaiman bin Abdullah Alhamdan from his post as minister of transport and appointing Dr. Nabil bin Mohammad Ala'amoodi as minister of transport.
An order appointed Sulaiman bin Abdullah Alhamdan as minister of civil service.
Another order appointed Sulaiman Abdulfattah bin Sulaiman Mashat as deputy minister of Hajj and Umrah, excellent rank.
Saad bin Moqbil Almaimooni was appointed as governor of Taif, excellent rank, according to a royal order.
Isam bin Hamad bin Ali Almubarak was appointed as governor of real estate general commission, excellent rank, according to another royal order.
