Ministry of Finance

The Ministry of Finance is the oldest ministry in the history of the Kingdom of Saudi Arabia. It was established in 1344 AH as the “Directorate of Public Finance to manage financial matters” during the reign of King Abdulaziz Al Saud (may God have mercy on him), in the Makkah region. With the expansion of its business, it was transferred to the “Public Finance Agency” in the year 1347 AH .. Then the agency’s work developed significantly, so a royal order was issued to transfer the agency to a Ministry of Finance in the year 1351 AH (1932 CE), so that it would be responsible for organizing and preserving state funds, collecting them, and securing their import routes. And its expenditures, and the general reference for all finances in all regions of the Kingdom. The first Minister of Finance was Sheikh Abdullah bin Suleiman Al-Hamdan (may God have mercy on him). In the year 1374 AH, the Ministry of Economy was merged with the Ministry of Finance, to become the Ministry of Finance and National Economy, and its headquarters was transferred to Riyadh. After merging the economic activity with the Ministry of Planning, the name of the ministry was changed to the current name: “Ministry of Finance” since 1424 AH ..

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Ministry of Finance

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