Fahd Al-Saif, president of the Debt Management Office at the Saudi Ministry of Finance

Fahd Al-Saif
Updated 15 June 2019

Fahd Al-Saif, president of the Debt Management Office at the Saudi Ministry of Finance

  • Previously, Al-Saif was deputy managing director of the Saudi British Bank (SABB), part of the HSBC Group

Fahd Al-Saif is president of the Debt Management Office (DMO) at the Saudi Ministry of Finance.

He is head of the ministry’s Public, Private and Privatization Office and a board member in the National Center of Privatization.

Before his appointment as president of the DMO in July 2017, Al-Saif was deputy managing director of the Saudi British Bank (SABB), part of the HSBC Group.

He was previously a board member of HSBC Saudi Arabia Ltd. and a member of the advisory committee of the Capital Markets Authority.

Al-Saif, who holds a bachelor’s degree in MIS from King Fahd University of Petroleum and Minerals, has more than 20 years’ experience in corporate, investment banking, global banking and capital markets with SABB and HSBC. 

He was HSBC’s Saudi Arabia principal contact for corporate finance and capital markets in relation to ECM (IPO, rights issues, private placements) and DCM (sukuk and bond issuance, banks loans and syndication and financing services solutions).

The DMO is responsible for securing the Kingdom’s financing needs and has a key role in the implementation of structural, economic and financial reforms in line with the National Transformation Program 2020 and Saudi Vision 2030.

The office recently received three GlobalCapital awards — “Most Impressive Emerging Markets Issuer,” “Most Impressive Middle East Sovereign Issuer” and “Most Impressive Middle East Funding Official.” Al-Saif accepted the awards at a high-level gathering of industry leaders, government representatives and bankers in London.

Startup of the Week: Wayakit, the biotech firm helping travelers beat odors and stains

Updated 10 December 2019

Startup of the Week: Wayakit, the biotech firm helping travelers beat odors and stains

  • Wayakit leaves the clothes clean and fresh again

JEDDAH: Wayakit is a biotechnology start-up incubated by King Abdullah University of Science and Technology (KAUST).

KAUST Ph.D students Sandra Medina and Luisa Javier are avid travelers who have come up with a pocket-sized product that deals with both odors and stains on fabrics, leaving the cloths clean and fresh again.

Wayakit is also gentler on fabrics because traditional laundry eventually damages them, said Javier, who first moved to Saudi Arabia from Mexico ten years ago.

Her business partner, Sandra Medina, who came from Colombia to study at KAUST, explained to Arab News how Wayakit works. “You just spray the smelly area twice and you’re good to go. In the case of stains, you spray twice and then pat dry it with a tissue and it will disappear,” she said.

The idea for the product came during a trip for a conference two years ago when the travelers realized their luggage was lost “We had to present with our dirty, seven-hours’ flight clothes,” Javier told Arab News.

“We started looking into the possibility then, because there’s not a proper solution to doing laundry while traveling,” she said.


They decided they needed to come up with a product that was not pricey, was easy to carry, and did the job by removing stains and bad odors “on-the-go.”



The duo began by interviewing more than 100 travelers of 23 different nationalities to find out if this was a common issue that travelers struggled with.


“From the Entrepreneurship Center at KAUST, we learned the importance of listening first to the customers before designing any product,” said Medina. From these interviews, Wayakit team got the product requirements and then moved into the lab to start working on the formulation of Wayakit. “The amazing facilities and labs in KAUST helped us to speed up the creation of our first prototype. After this, the same KAUST community was the people who first tried Wayakit and gave us feedback. “In KAUST we do not only have state-of-the-art labs, but also a whole entrepreneurial ecosystem,” Medina added.

Wayakit is different from its competitors in that it contains no toxic chemicals, and covers a broader spectrum in covering stains — it is two products in one. It also contains anti-bacterial properties, acting as a sanitizer that “removes all the stains that occur on a day-to-day basis as well as being an odor remover,” Javier said.

The pair went for a biotechnology-based formula that excluded the usage of oxidizers and focused on more organic compounds. “Even the anti-bacterial properties are not toxic as we incorporated these in an environmentally friendly formulation,” she said.

The Wayakit founders had to rigorously test their product, dealing with different types of sweat and stains to perfect their spray. “We had to give testers to travelers to try it out and had to listen to their feedback, then went back to the lab to improve it, in order to make sure the product was as promised.”

Medina said KAUST’s mentorship had also helped their company to develop. “KAUST for us is a catalyst of entrepreneurship and has given us a lot of room to grow our start-up Wayakit,” she said.

KAUST helped Wayakit by giving the advice and support from the start. From entrepreneurial courses to teaching the concepts of building a brand, KAUST encouraged Wayakit to grow from a scientific outlook and helped the founders to better understand the customer.

“As foreigners, it was difficult for us to understand the logistics and procurement of shipping and importing here in Saudi Arabia. KAUST has helped us to face that hurdle in order to be able to reach all our clients in the MENA region and worldwide,” Medina said. “Beyond helping travellers, our mission is to change the way how laundry is commonly done. We found a way to effectively wash clothes reducing water and energy consumption,” Javier said. 

Wayakit has recently began selling in Jeddah’s Homegrown Market, chosen because it is “a Middle Eastern brand store with unique ambience,” said Medina.