New Appointments to Samba, Bank Nizwa, Saudi Tadawul and KIA

  • 22nd, February, 2017
New Appointments to Samba, Bank Nizwa, Saudi Tadawul and KIA

The appointments to Samba and Saudi Tadawul have received a lot of attention because both new appointees are women.

Rania Nashar was appointed Chief Executive of Samba on 19 February, replacing Sajjad Razvi who resigned for personal reasons. Ms Nashar has held several senior position in Samba, and has served as a Director of Samba's subsidiary in Pakistan and of Samba Global Markets Ltd.

Three days earlier, the Tadawul announced the appointment of Sarah al-Suhaimi as its Chairman. Ms Suhaimi has been the Chief Executive of NCB Capital since 2014 and she will retain this position while Chairman of Tadawul. 

Elsewhere in the region, Farouk Bastaki will become Managing Director of the Kuwait Investment Authority (KIA) in April, replacing Badr al-Saad, who had held the position for 14 years. Mr. Bastaki is currently KIA's Executive Director for Alternative Investments.  KIA is Kuwait's sovereign wealth fund and falls under Kuwait's Ministry of Finance.

Khaled al-Kayed has been appointed Chief Executive of Bank Nizwa, the larger of the two stand-alone Islamic banks that were licensed after Oman published new regulations on Islamic banking in late 2012. Mr. Kayed has been Acting General Manager since Jamil el-Jaroudi resigned in July 2016 after four years in post.