The Arab Petroleum Investments Corporation (Apicorp), a multilateral development financial institution, has appointed Dr. Sherif El-Sayed Ayoub as its chief financial officer. In this capacity, Dr. Ayoub will take charge of Apicorp’s finances, including risk management, financial planning, financial reporting and accounting.
Dr. Ahmed Ali Attiga, chief executive of Apicorp, said: “During his career, Dr. Ayoub has demonstrated his strong financial management capabilities and has made significant contributions to various institutions, through a variety of diverse senior finance and operational roles. We are confident that his breadth of technical knowledge and experience will help us to achieve further financial excellence and create longstanding value for our partners and shareholders.”
Dr. Ayoub said: “I have long admired Apicorp and its efforts to expand the value-added economic activities within the broader energy industries. I am a strong advocate of the importance of sound financial management as an enabler to the development impact of Apicorp and a key contributor to sustainable profitability. I am looking forward to the exciting journey of contributing to shape Apicorp’s future.”
Dr. Ayoub joins Apicorp from the Islamic Development Bank (IsDB) where he oversaw key policy priorities, operations, and initiatives related to treasury, financial policies, planning and analytics, investment, financial control, budget and performance management as well as risk management.