Saudi deputy replaces governor of 25 years

Muhammad Al-Jasser, the vice-governor at the Saudi Arabian Monetary Agency, will take charge of the central bank after 13 years in his current role.

King Abdullah said on Saturday that Al-Jasser would replace Sheikh Hamad Saud Al-Sayari, governor since April 1983.

Before joining the central bank in November 1995, Al-Jasser was the executive director for Saudi Arabia at the International Monetary Fund. He holds an economics doctorate from the University of California.

Al-Jasser takes over at a