Bachelor in Economics and Political Sciences, King Saud University, Riyadh, Saudi Arabi, 1971. Master of Arts in Economics, University Denver, 1976. Doctor of Philosophy in Economics, Colorado State University, 1982.
He received a bachelor of arts degree in economic and political science from King Saud University, Riyadh, in 1971. Ibrahim initially pursued a teaching career, becoming a teaching assistant and then visiting lecturer at King Abdulaziz Military Academy from 1971 to 1983. He was appointed an assistant professor and head of the Department of Administrative Services in 1982, and served until 1986.
During that period, he also served as economic adviser to the Saudi Fund for Development. After leaving academia, Ibrahim moved to Washington, DC where he represented Saudi Arabia at the International Monetary Fund (IMF) and the World Bank. In 1986, he was appointed alternate executive director at the IMF for Saudi Arabia.
He left in 1989 to take up the executive directorship for Saudi Arabia at the World Bank. Upon his return to Saudi Arabia in 1995, he served briefly as vice governor of the Saudi Arabian Monetary Agency, the country's central bank. He left to join the Council of Ministers as minister of state in October 1995.
In January 1996, he was appointed minister of finance and national economy, a position that was renamed minister of finance in 2003. He replaced Abdul Aziz Abdullah Al-Khuwaiter as finance minister.
In addition to being finance minister, Ibrahim is a member of the board of directors of Saudi Aramco (since 1996), the state-owned national oil company, chairman of the Saudi Fund for Development and member of the Public Investment Fund board.
Married Rogayah Al-Manie, September 8, 1978. Children: Abdulaziz, Moneerah, Mai, Faisal.