King Abdullah Port appoints Rayan Qutub as CEO

Rayan Qutub, CEO of King Abdullah Port.
Updated 08 December 2017

King Abdullah Port appoints Rayan Qutub as CEO

The Ports Development Company, owner and developer of King Abdullah Port, has announced the appointment of Rayan Qutub as the chief executive officer. The board of directors welcomed the new CEO who will contribute to supporting and developing the port’s activities as well as fostering the port’s achievements over the past years.
“I am very honored by the confidence placed in me by the Ports Development Company’s board of directors,” said Qutub. “I look forward to collaborating with the King Abdullah Port team members and the relevant authorities in order to continue achieving the success of this vital national facility that was designed and implemented to keep up with the Kingdom’s commercial and economic growth in the coming decades.”
He added: “We will work to strengthen the port’s capabilities to ensure that it continues to contribute effectively to the Kingdom’s renaissance and prosperity while fulfilling the desired role in achieving the logistics vision through the contribution and partnership of the private sector in achieving Vision 2030.”
Qutub’s experience spans over 22 years in many fields and with major regional and international companies such as Savola, Unilever and Emaar The Economic City. Prior to joining King Abdullah Port, Qutub served as the CEO of King Abdullah Economic City’s Industrial Valley. During that period, KAEC Industrial Valley became an ideal destination for local and international industrial and logistics companies, attracting more than 120 leading companies in the pharmaceutical, food, logistics, automotive, construction and packaging sectors. Other achievements included developing the infrastructure of more than 30-square-kilometer and launching numerous initiatives in cooperation with relevant government agencies.
Prior to this, Qutub was responsible for KAEC’s business development in several projects, such as the development of residential districts, medical institutions and educational institutions, including The World Academy.
Qutub graduated with a bachelor’s degree in business administration with honors, and attended several executive education programs in leadership, real estate and economic development with top universities such as Oxford, Harris-Stowe State and Harvard.
The board of directors extended its thanks and appreciation to Abdullah Hameedadin, former managing director at the Ports Development Company, for his valuable efforts over the past years.

Emirates NBD opens branch in Alkhobar

Updated 20 September 2018

Emirates NBD opens branch in Alkhobar

Emirates NBD, a banking group in the Middle East, has expanded its presence in the Kingdom with the opening of its first branch in Alkhobar in the Eastern Province. Emirates NBD now covers three key regions in Saudi Arabia with a presence in Riyadh, Jeddah and Alkhobar. 

As Saudi Arabia progresses plans for economic reform, in line with its Vision 2030, Emirates NBD’s presence builds on the growing economic and trade ties between Saudi Arabia and the UAE. Following the establishment of the Saudi-Emirati Coordination Council, the UAE and Saudi Arabia recently announced The Strategy of Resolve, a joint vision for economic development through 44 joint strategic projects within a five-year time frame. 

UAE-based Emirates NBD is the first non-Saudi bank with a significant branch network across the Kingdom. The bank offers retail, private, business and wholesale banking across its network of three full-fledged branches in the Kingdom, in addition to corporate finance advisory, project and syndicated finance through Emirates NBD Capital KSA, the bank’s investment banking arm.

Emirates NBD also operates in Egypt, India, Singapore, and the UK with representative offices in China and Indonesia. 

“Our presence in Saudi is integral to Emirates NBD’s growth strategy as we continue to explore opportunities in the GCC region’s largest and most dynamic economy,” said Hesham Abdulla Al-Qassim, vice chairman and managing director of Emirates NBD. 

“Saudi Arabia is in the midst of a landmark economic transformation and we look forward to continuing to support Saudi individuals and businesses looking for a trusted banking partner.” 

Emirates NBD recently renewed its partnership with the Kingdom’s Kafalah Program, which aims to promote financing to small and medium enterprises (SMEs) within the country.

Loai Abduljawad, CEO of Emirates NBD KSA, said: “Emirates NBD’s expanded network strengthens our offering to individuals and corporates in Saudi Arabia looking to invest and trade across the MENA region and beyond. Our superior value proposition, built on the bank’s unique ‘high tech + high touch’ philosophy of offering customers a modern banking experience complemented by personalized advisory services, will enable us to strengthen customer acquisition in the Kingdom as we continue to support the country’s long-term growth and development goals, as outlined in Saudi Vision 2030.” 

Emirates NBD is a leading banking group in the region. As of June 30, 2018, its total assets were 477.5 billion dirhams, ($130 billion). The group has a significant retail banking franchise in the UAE and is a key participant in the global digital banking industry, with over 90 percent of all financial transactions and requests conducted outside of its branches. The bank was declared the “Most Innovative Financial Services Organization of the Year” at the 2017 BAI Global Innovation Awards.