Identifier
Created
Classification
Origin
09RIYADH1150
2009-09-02 14:32:00
UNCLASSIFIED//FOR OFFICIAL USE ONLY
Embassy Riyadh
Cable title:
KING APPOINTS NEW CENTRAL BANK VICE GOVERNOR
VZCZCXRO7051 PP RUEHDE RUEHDH RUEHDIR DE RUEHRH #1150 2451432 ZNR UUUUU ZZH P 021432Z SEP 09 FM AMEMBASSY RIYADH TO RUEHC/SECSTATE WASHDC PRIORITY 1505 RUEATRS/DEPT OF TREASURY WASHDC INFO RUEHZM/GCC COLLECTIVE
UNCLAS RIYADH 001150
SIPDIS
SENSITIVE
STATE FOR NEA/ARP (HARRIS/BERNDT),EEB/IFD/OMA (JACOBY)
ALSO FOR EEB/ESC/TFS(JALLORINA)
E.O. 12958: N/A
TAGS: ECON PGOV SAMA SA
SUBJECT: KING APPOINTS NEW CENTRAL BANK VICE GOVERNOR
REF: RIYADH 319
UNCLAS RIYADH 001150
SIPDIS
SENSITIVE
STATE FOR NEA/ARP (HARRIS/BERNDT),EEB/IFD/OMA (JACOBY)
ALSO FOR EEB/ESC/TFS(JALLORINA)
E.O. 12958: N/A
TAGS: ECON PGOV SAMA SA
SUBJECT: KING APPOINTS NEW CENTRAL BANK VICE GOVERNOR
REF: RIYADH 319
1. (U) King Abdullah appointed Dr. Abdulrahman Al-Hamidy Vice
Governor of the Saudi Arabian Monetary Union (SAMA),the country's
central bank, on August 30. This is a cabinet-level position and
the holder is afforded ministerial rank. Born in Al-Zulfi (290
kilometers north of Riyadh) in 1960, Hamidy is considered an old
SAMA hand. He acquired a PhD in economics from the University of
Oregon in 1991. Upon his return to Saudi Arabia, Hamidy worked as
Assistant Professor at the Department of Economics, King Saud
University. Upon joining SAMA, Hamidy managed the Training
Department and Research Center at SAMA's Banking Institute. He was
appointed Director General of Economic Research and Statistics and
later promoted to Deputy Governor for Technical Affairs in November
2004. The latter position has made Hamidy one of the USG's primary
partners in the financial crackdown on terrorist activities.
2. (U) Hamidy sits on the boards of several government
funds/agencies including the Saudi Industrial Development Fund; the
Arab Monetary Fund, Abu Dhabi; the Saudi Post Authority; the Saudi
Arabian General Investment Authority (SAGIA); the Cooperative Health
Insurance Council; and the Saudi stock exchange (TADAWUL).
COMMENT
--------------
3. (SBU) Hamidy has been the de facto number two at SAMA since
February when then-Vice Governor Dr. Muhammed Al-Jasser was promoted
to governor, so this "promotion" is in many ways a preservation of
the status quo. The new vice governor is a somewhat prickly
interlocutor, particularly when it comes to the regulatory
sovereignty of SAMA and Saudi Arabia. However, he has made himself
available to us in the past when we need to meet, and often on short
notice compared to some other Saudi officials, so we view this
appointment as a net plus for the USG. We believe this appointment
represents a vote of confidence from King Abdullah and indicates
that current Saudi economic policies will continue.
ERDMAN
SIPDIS
SENSITIVE
STATE FOR NEA/ARP (HARRIS/BERNDT),EEB/IFD/OMA (JACOBY)
ALSO FOR EEB/ESC/TFS(JALLORINA)
E.O. 12958: N/A
TAGS: ECON PGOV SAMA SA
SUBJECT: KING APPOINTS NEW CENTRAL BANK VICE GOVERNOR
REF: RIYADH 319
1. (U) King Abdullah appointed Dr. Abdulrahman Al-Hamidy Vice
Governor of the Saudi Arabian Monetary Union (SAMA),the country's
central bank, on August 30. This is a cabinet-level position and
the holder is afforded ministerial rank. Born in Al-Zulfi (290
kilometers north of Riyadh) in 1960, Hamidy is considered an old
SAMA hand. He acquired a PhD in economics from the University of
Oregon in 1991. Upon his return to Saudi Arabia, Hamidy worked as
Assistant Professor at the Department of Economics, King Saud
University. Upon joining SAMA, Hamidy managed the Training
Department and Research Center at SAMA's Banking Institute. He was
appointed Director General of Economic Research and Statistics and
later promoted to Deputy Governor for Technical Affairs in November
2004. The latter position has made Hamidy one of the USG's primary
partners in the financial crackdown on terrorist activities.
2. (U) Hamidy sits on the boards of several government
funds/agencies including the Saudi Industrial Development Fund; the
Arab Monetary Fund, Abu Dhabi; the Saudi Post Authority; the Saudi
Arabian General Investment Authority (SAGIA); the Cooperative Health
Insurance Council; and the Saudi stock exchange (TADAWUL).
COMMENT
--------------
3. (SBU) Hamidy has been the de facto number two at SAMA since
February when then-Vice Governor Dr. Muhammed Al-Jasser was promoted
to governor, so this "promotion" is in many ways a preservation of
the status quo. The new vice governor is a somewhat prickly
interlocutor, particularly when it comes to the regulatory
sovereignty of SAMA and Saudi Arabia. However, he has made himself
available to us in the past when we need to meet, and often on short
notice compared to some other Saudi officials, so we view this
appointment as a net plus for the USG. We believe this appointment
represents a vote of confidence from King Abdullah and indicates
that current Saudi economic policies will continue.
ERDMAN