He then moved to the United States, where he pursued a PhD in economics and sociology from the University of Minnesota in 1961, and worked as an academic for six years.
He worked under Minister for Finance Sheikh Mohammed Abalkhai during the reign of King Faisal, and played an instrumental role in building Saudi Arabia's banking system, as well as formulating the government's economic and monetary policies over the next several decades.
[1] In 1990, he was awarded the King Faisal International Prize in the field of Islamic studies and economics.
[1][2] In 1995, he was awarded an Institute of Overseas Pakistanis medal by the President of Pakistan, for his contributions in economics.
In addition to a number of articles published in accredited journals, he has written 11 books, of which the following have been the most notable: