Saudi Gazette report
RIYADH — The Saudi Cabinet has approved an amendment to the regulation of the National Development Fund (NDF), stipulating that the fund’s governor will now be appointed by royal order instead of a decision by the fund’s board of directors.

The decision modifies Article 8 of the regulation issued in 1439H, replacing the phrase “the fund shall have a governor appointed to and dismissed from his position by a decision of the board” with “the fund shall have a governor appointed by royal order.”

The amendment also specifies that NDF employees, except for the governor, will be subject to the Labor Law and the Social Insurance Law.

Under the new provision, the current governor of the NDF will continue to serve under the terms of his existing contract and exercise all duties and powers of the position until a new governor is appointed in accordance with the amended article. This is without prejudice to the board’s authority to terminate the current contract.