Profile: Fahad Al-Mubarak, the new Governor of the Saudi Central Bank

Fahad Al-Mubarak, the Saudi Central Bank Governor. (Argaam)
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Updated 25 January 2021
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Profile: Fahad Al-Mubarak, the new Governor of the Saudi Central Bank

  • He was a member of the Shura Council from 1999 to 2005

King Salman bin Abdulaziz issued a royal decree on Jan. 24, 2021, to appoint Fahad Al-Mubarak as Central Bank (SAMA) Governor.

Al-Mubarak obtained a PhD in Business Administration in operation and production from the University of Houston, the US, and Master's degrees in Industrial Engineering, Financial Accounting and Taxes, and Business Administration.

He held the position of the Minister of State and Cabinet member from December 2018 until January 2021. He was appointed the Secretary General in the Saudi Secretariat of the G20.

Al-Mubarak, who helmed SAMA from 2011-2016, was previously chairman and managing director of Morgan Stanley, Saudi Arabia. He also served as chairman of the Saudi Stock Exchange.

He was a member of the Shura Council from 1999 to 2005 and held the position of general manager of Rana Investment Company from 1992 to 1999.

In addition, Al-Mubarak served as a board member in a number of major companies, such as Saudi Basic Industries Corp. (SABIC), stc Group, Etihad Etisalat Co. (Mobily), National Industrialization Co.(Tasnee), and Saudi Hollandi Bank.


India seals $3bn LNG agreement with UAE

Updated 19 January 2026
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India seals $3bn LNG agreement with UAE

  • Leaders hold talks to strengthen trade, defense ties

NEW DELHI, DUBAI: India signed a $3 billion deal on Monday to buy liquefied natural gas from the UAE, making it the Gulf country’s top customer, as the leaders of both countries held talks to strengthen trade and defense ties.

The agreement was signed during a very brief two-hour visit to ‌India by UAE ‌President Sheikh Mohammed bin Zayed Al-Nahyan for talks with Indian ‌Prime Minister Narendra Modi. 

They pledged to double bilateral trade to $200 billion in six years and form a strategic defense partnership.

Abu Dhabi state firm ADNOC Gas will supply 0.5 million tonnes of LNG a year to India’s Hindustan Petroleum Corp. for 10 years, the companies said.

ADNOC Gas said the agreement brings the total value of its contracts with India to over $20 billion.

“India is now the UAE’s largest customer and a ‌very important part of ADNOC Gas’ LNG strategy,” ‍the company said.

The UAE is ‍India’s third largest trading partner and Sheikh Mohammed was accompanied ‍by a government delegation that included his defense and foreign ministers. The two sides signed a letter of intent to work toward forming a strategic defense partnership, India’s Foreign Secretary Vikram Misri told reporters.

Misri, however, said that the signing of the letter of intent with the UAE does not mean that India will get involved in regional conflicts.

“Our involvement on the defense and security front with a country from the region does not necessarily lead to the conclusion that we will get involved in ‌particular ways in the conflicts of the region,” he said.