No minister shall be a firm Chairman, Member of Board

No minister shall be a chairman or a board member in any firm, unless the Prime Minister (PM) ordained,” in this regard, the Saudi Cabinet, announced on Friday.

The Saudi Cabinet announced that after reviewing the Correspondence served by the Royal Court under No. 37638 on 08.07.1442 AH, including Telegram No. 2364 dated 08.03.1442 AH issued by Minister of State and the Cabinet Member, regarding the reconsideration of the Cabinet Resolution No. (27) dated 26.01.1421 AH; Law of the Cabinet issued under Royal Order No. (a/13) dated 03.03.1414 AH; the Cabinet Resolutions Nos. (27) dated 26.01.1421 AH & (424) dated 08.08.1439 AH; Memorandum No. (1978) dated 13.11.1442 AH, prepared by the Experts’ Committee of the Council of Ministers; and recommendation No. (40-47/42/d) dated 28.11.1442 AH, prepared by the Council of Economic and Development Affairs,

The Saudi Cabinet decreed as follows:

“No minister shall ever be a chairman or a board member in any firm, unless the Prime Minister issues an order,” in this respect, according to Umm Al-Qura, the Saudi Arabian official gazette.