Royal order excuses Al-Assaf, long-time finance minister Former Capital Markets chief Mohammed Al-Jadaan his successor Saudi Arabia’s finance minister for two decades was replaced on Monday, the latest in a series of government shake-ups as the world’s largest oil exporter tries to remake its economy. A royal order excused Ibrahim Al-Assaf from his post and replaced him with Mohammed Al-Jadaan, formerly head of the kingdom’s Capital Markets Authority, state television reported, citing a Royal Decree. Al-Assaf was appointed a state minister and will remain a member of the cabinet. Low crude prices have battered Saudi Arabia’s economy and opened a hole in its budget that reached nearly $100 billion last year. Deputy Crown Prince Mohammed bin Salman announced Saudi Vision 2030 in April to overhaul the kingdom’s economy and government. A cabinet reshuffle in May replaced long-time oil minister Ali Al […]