Commenting on this appointment, Sheikh Maktoum Hasher Al-Maktoum, chairman of Shuaa Capital and chairman of Gulf Finance, said: "Al-Binali's addition to the Shuaa team will help us enhance our credit business locally and grow it regionally in line with our new strategy. "
Michael Philipp, chief executive officer of Shuaa Capital, said: "Gulf Finance has consistently generated a profit throughout the economic cycle and is looking to take the next step in its growth plan. This entails diversification of the credit portfolio and geographic expansion starting with Saudi Arabia. Al-Binali consequently joins the business at a moment when his vast experience, business development skills and regional network will prove invaluable to further develop this business."
Sabah Al-Binali, the new vice chairman of Gulf Finance, said: "It is a privilege for me to join Gulf Finance. Building on its over 10 year track record of successful innovation in finance, Gulf Finance is in an excellent position to provide access to capital for corporates in the region."
