Abdulaziz bin Abdulrahman bin Abdulaziz Al-Arifi has been appointed Governor of the National Development Fund (NDF) in Saudi Arabia, taking on the role with the excellent rank and minister-level status. The appointment was made under Royal Order O/266, issued by King Salman bin Abdulaziz Al Saud on 24 Sha’ban 1447 (12 February 2026) and published on 13 February 2026.
Al-Arifi succeeds Stephen Groff, who had led the fund since 2019. The royal order directs that the decision be communicated to the competent entities for adoption and implementation, and Al-Arifi is now listed as Governor of the NDF from February 2026 onward.
The National Development Fund is organizationally linked to the Prime Minister and is headed by a governor with a minister’s rank who serves as the fund’s executive officer. The fund’s core role is to coordinate and oversee Saudi Arabia’s sectoral development banks and funds.
Why the change matters
The appointment follows a 2025 Cabinet amendment to the NDF regulation. Under the revised Article 8, the governor is now appointed by royal order, replacing the previous arrangement in which the fund’s board of directors handled appointment and dismissal. The amended regulation also allowed the sitting governor to continue under his existing contract, exercising all duties and powers until a new governor was appointed under the revised article, without affecting the board’s authority to end the contract.
The decision is a governance and regulatory measure. There are no citizen fees, user-facing processes, or online application steps tied to the royal order itself, and no new e-services are attached to this change.
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