Saudi King Salman bin Abdulaziz Al-Saud issued a royal order establishing a fund called 'National Development Fund'.
The fund organisationally links the Saudi Fund for Development, the Saudi Industrial Development Fund, the Agricultural Development Fund, the Social Development Bank, the Human Resources Development Fund and any development fund or bank that whose linkage is ordered by the Prime Minister.
The National Development Fund shall undertake the overall supervision of the above-mentioned entities.
It shall have a Board of Directors chaired by the Deputy Prime Minister and a membership of no less than seven members to be appointed by the Prime Minister.
The Board of Directors of the National Development Fund shall assume all the tasks and powers and take decisions, measures and others as may be necessary to achieve the purpose of establishing the Fund.
The National Development Fund shall have a governor with a minister's rank, who will be the Executive Officer of the Fund.
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