-Friday World February 19, 2026
Saudi Arabia Opens a New Chapter: Fahd bin Abduljalil Al-Saif Appointed as Investment Minister – First Shia Twelver Shia in Cabinet, Boosting Vision 2030 Momentum On February 12, 2026, a golden page was added to the history of Saudi Arabia's politics and economy.
Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, issued a royal decree appointing Fahd bin Abduljalil bin Ali Al-Saif as the **Minister of Investment** (Wazir al-Istithmar).
This appointment is particularly significant as it marks the first time in Saudi history that a member of the Shia Twelver (Asna Ashari) community has been elevated to a full cabinet minister position. Fahd Al-Saif brings over 26 years of extensive expertise in financial strategy, debt
management, and international financing.
Prior to this role, he held key leadership positions at the **Public Investment Fund (PIF)**, including heading the Global Capital Finance Division and Investment Strategy & Economic Studies.
He previously served in senior roles at Saudi British Bank (SABB), HSBC, and as the founding CEO of the National Debt Management Center, where he shaped the Kingdom's sovereign debt framework.
A graduate in Information Management from King Fahd University of Petroleum and Minerals (born 1976 in the Eastern Province), his background aligns perfectly with driving non-oil economic growth. This move supports **Saudi Vision 2030** by accelerating efforts to attract foreign direct investment, diversify the economy beyond oil, and strengthen emerging sectors.
Targets include achieving $100 billion in annual foreign investment and enhancing the effectiveness of the $925 billion PIF.
Focus areas now emphasize revenue-generating fields like artificial intelligence (AI), tourism, manufacturing, and advanced technologies. The transition follows a partial cabinet adjustment.
Khalid Al-Falih, the previous Minister of Investment (who had championed foreign investment inflows since 2020), was relieved of his duties and appointed as Minister of State and a member of the Council of Ministers. → Al-Saif's appointment comes amid ongoing economic restructuring, including recent openings of financial markets to all foreign investors and revisions to major giga-projects. Beyond economics, this decision symbolizes greater social inclusion and unity.
Originating from the Eastern Province (Sharqiya), where the Shia community is prominent, Al-Saif's elevation has sparked waves of optimism within the community.
Analysts view it as a step toward regional cohesion and inclusivity, especially in the context of improving relations with Iran and broader efforts for national harmony. In response to his appointment, Fahd Al-Saif expressed gratitude and commitment.
He affirmed his understanding of the national responsibility and pledged full dedication to realizing Vision 2030's objectives, turning ambitious goals into tangible reality.
This landmark appointment signals Saudi Arabia's direction toward a more open, diverse, and resilient economy – a true reflection of progressive transformation.
Sajjadali Nayani ✍
Friday World February 19, 2026
