RIYADH: Khalid S. Al-Jasser, a highly-experienced banker and industrialist, was named the new chief executive officer of Bank Albilad following approval from the Saudi Arabian Monetary Agency (SAMA). The announcement of Al-Jasser as Albilad chief was made by the board of directors of Bank Albilad yesterday.
“Al-Jasser will take over as the new CEO of Bank Albilad from May 2 this year,” said Ayman Al-Sadoun, a bank spokesman yesterday. Al-Sadoun said that Al-Jasser had more than 20 years of experience in the banking sector and had served in a number of senior leadership roles for different businesses during this time. He has also served as a board member for several companies in Saudi Arabia. Al-Jasser has come up with new plans and policies for the bank, a Saudi joint stock company, which is growing progressively. The bank, established on Nov. 4, 2004, with a corporate capital of SR300 million, is currently on an expansion course. A press statement issued by the bank on this occasion said that Razi S. Fakih, acting CEO, had successfully built a strong foundation and led the development of the bank since September 2007. “Now, Fakih will resume his responsibilities as deputy CEO and will work with Al-Jasser to continue to position the bank for further growth and better financial results,” said the statement.
With the appointment of Al-Jasser and the strength of the management team, Bank Albilad is confident of achieving its vision to be the most reputable Shariah-based financial solutions provider, meeting the aspirations of its customers, employees and shareholders, it said.
