Faisal Al-Ibrahim, the current economy, and planning minister is a seasoned economist who already has occupied many important roles in the economy and planning. King Salman, the Custodian of the Two Holy Mosques, designated him as minister of economy and planning in a royal decree released on Monday.

Before his current nomination, Al-Ibrahim had served as deputy minister of economy and planning at the exceptional standard since February 26, 2018.

He was the Council of Economic and Development Affairs' supervisor of the secretariat (CEDA). In addition to supporting a host of boards and commissions, he is the secretary of the National Development Fund's Board of Directors.

Between 2016 and 2018, Al-Ibrahim has worked as an adviser at the Ministry of Economy and Planning and as a consultant at the Saudi Royal Court.

Al-Ibrahim holds an MBA from the Massachusetts Institute of Technology, and a bachelor's degree in economics, and a bachelor's degree in accounting from Pennsylvania State University.

Throughout his time at Saudi Aramco, Al-Ibrahim served many prominent roles, including vice president of Aramco Development and director of Mergers and Acquisitions in New Business Development.

He was also the Project Manager for the King Salman International Complex for Marine Services and Industries in Ras Al-Khair for Commercial and Financial Affairs, and the Project Manager for the integration of operations and fleet companies Vela and Bahri.

Vela International Marine Limited, a Saudi Aramco subsidiary, concluded a historic merger contract with the Saudi National Shipping Company (Bahri), creating Vela and Bahri, one of the world's largest shipping firms.