Ibrahim Abdulaziz Al-Assaf
|Ibrahim Abdulaziz Al-Assaf|
|Minister of State
2 November 2016
|Minister of Finance|
30 January 1996 – 31 October 2016
|Preceded by||Abdulaziz Abdullah Al
|Succeeded by||Mohammed Al-Jadaan|
28 January 1949 |
Uyun AlJiwa, Saudi Arabia
|Alma mater||King Saud University
University of Denver
Colorado State University, Fort Collins
Ibrahim bin Abdulaziz bin Abdullah Al-Assaf (Arabic: إبراهيم بن عبد العزيز بن عبد الله العساف; born 28 January 1949) is the former finance minister of Saudi Arabia and former state minister of Saudi Arabia. In November 2017, he was detained, accused of embezzlement related to the expansion of Mecca's Grand Mosque and taking advantage of his position and inside information to purchase lands.
Early life and education
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Ibrahim was born in the Qassim Province in central Saudi Arabia on 28 January 1949. He received a bachelor of arts degree in economic and political science from King Saud University, Riyadh, in 1971. He later obtained a master of arts degree in economics from the University of Denver in 1976 and a PhD in economics from Colorado State University in 1982.
Ibrahim initially pursued a teaching career, becoming a teaching assistant and then visiting lecturer at King Abdulaziz Military Academy from 1971 to 1983. He was appointed an assistant professor and head of the Department of Administrative Services in 1982, and served until 1986. During that period, he also served as economic adviser to the Saudi Fund for Development.
After leaving academia, Ibrahim moved to Washington, DC where he represented Saudi Arabia at the International Monetary Fund (IMF) and the World Bank. In 1986, he was appointed alternate executive director at the IMF for Saudi Arabia. He left in 1989 to take up the executive directorship for Saudi Arabia at the World Bank.
Upon his return to Saudi Arabia in 1995, he served briefly as vice governor of the Saudi Arabian Monetary Authority, the country's central bank. He left to join the Council of Ministers as minister of state in October 1995. In January 1996, he was appointed minister of finance and national economy, a position that was renamed minister of finance in 2003. He replaced Abdul Aziz Abdullah Al-Khuwaiter as finance minister.
In addition to being finance minister, Ibrahim is a member of the board of directors of Saudi Aramco (since 1996), the state-owned national oil company, chairman of the Saudi Fund for Development and member of the Public Investment Fund board.
On 4 November 2017, Ibrahim Abdulaziz Al-Assaf was arrested in Saudi Arabia in a "corruption crackdown" conducted by a new royal anti-corruption committee. This was done on authority of Crown Prince Mohammad Bin Salman.
Ibrahim is married and has four children.
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- Stancati, Margherita; Said, Summer; Farrell, Maureen (2017-11-05). "Saudi Princes, Former Ministers Arrested in Apparent Power Consolidation". Wall Street Journal. ISSN 0099-9660. Retrieved 2017-11-08.
- Kirkpatrick, David D. (2017-11-04). "Saudi Arabia Arrests 11 Princes, Including Billionaire Alwaleed bin Talal". The New York Times. ISSN 0362-4331. Retrieved 2017-11-08.
- "Ibrahim Abdulaziz Al-Assaf, Minister of Finance - The Saudi Arabia Conference 2015". euromoneyconferences.com. Archived from the original on 9 July 2017.
Abdulaziz Abdullah Al Khuwaiter
|Minister of Finance