Saudi Arabia's King Salman Bin Abdulaziz issued a Royal decree to appoint Mohammed Al-Jadaan as the new finance minister on Monday to replace Ibrahim Abdulaziz Al-Assaf.
Jaddan had previously been the chairman of the Saudi Capital Market Authority. He replaces Ibrahim Alassaf, who has been appointed minister of state and a member of the council of ministers, according to the royal decree.
Meanwhile, the royal decree also included the appointment of Mohammed al-Qassem as president of the Saudi Red Crescent.
Hesham al-Jadei was appointed as the new head of the Saudi Food and Drug Authority to replace Mohammed Meshaal.