Six key individuals leading the development of Islamic finance in the kingdom: Khaled Mohammed al-Aboodi,Ibrahim Fahad al-Ghofaily, Abdulrazzak Mohammed Elkhraijy, Khalid al-Jasser, Abdullah Sulaiman al-Rajhi and Mutlaq al-Morished
Khaled Mohammed al-Aboodi
Position: Chief executive officer (CEO) and general manager, Islamic Corporation for the Development of the Private Sector (ICD)
Biography: Khaled Mohammed al-Aboodi joined the Jeddah-based Islamic Development Bank (IDB) in November 2001 as deputy director general of its private sector arm, the ICD. Since 2007, he has been CEO of ICD, working on the development of Islamic institutions in the private sector. Al-Aboodi has 30 years’ experience in the region and the US. He began his career as an economic researcher at the Finance and National Economy Ministry in 1982. In 1995, he moved to the US to work as assistant to the Saudi executive director at the World Bank. In 2000, he returned to Saudi Arabia to join the state-owned Public Investment Fund as senior economist. He has a degree in economics from the King Saud University in Riyadh and a master’s degree in economics from Northeastern University in the US.
Contact Tel: (+966) 2 644 1644
Ibrahim Fahad al-Ghofaily
Position: Partner for international Islamic finance, BDO
Biography: Ibrahim Fahad al-Ghofaily has more than 18 years of experience in the Islamic banking and finance sector. He is currently a partner at consultancy firm BDO responsible for international Islamic finance and also sits on the board of Riyadh-based Islamic bank Alinma Bank. Previously, he worked for 10 years with another Islamic bank in Saudi Arabia, Al-Rajhi Bank, as assistant general manager working on restructuring projects in banking, financial and investment groups. Al-Ghofaily has worked on developing the Islamic financing structure for several projects in the kingdom. He is also executive president of the Arriyada Economic Consultant Centre and a board member of the Giwar Real Estate Marketing and Development Company. He has a master’s degree in management from California State University and a doctorate from Florida State University, both in the US.
Contact Tel: (+966) 9 2002 8000
Abdulrazzak Mohammed Elkhraijy
Position: Head of Islamic banking development group, National Commercial Bank (NCB)
Biography: Abdulrazzak Mohammed Elkhraijy joined NCB, one of the largest banks in Saudi Arabia in 1980. Elkhraijy has remained with the bank since then, progressing through several different roles before becoming executive vice-president and head of the Islamic banking development group. He previously headed the bank’s retail banking operations, leading its development to more than 100 branches and launching products such as Islamic credit cards. NCB is currently one of the most active lenders in Saudi Arabia and is playing a major part in expanding the role of Islamic finance in the kingdom. In addition to his work developing Islamic finance at the bank, Elkhraijy sits on many of the bank’s senior committees and on the local boards of several Saudi and international companies. He has a degree in economics.
Contact Tel: (+966) 2 646 4999
Khalid al-Jasser
Position: CEO, Bank Albilad
Biography: Khalid al-Jasser joined Islamic lender Bank Albilad as CEO in May 2009 from Riyad Bank, where he was an executive vice-president. He has more than 20 years’ experience in the banking sector and has served in several senior roles in Saudi Arabia. Al-Jasser is also the chairman of Albilad Securities and Investment Company, the capital markets subsidiary of AlBilad. Previously he has held banking roles ranging from retail, to corporate, credit and human resources. Bank Albilad is a relatively young lender in Saudi Arabia, having set up operations in 2004. In the first nine months of 2011, Bank Albilad reported more than a 12 per cent rise in total loans, one of the fastest loan growth rates in the kingdom. The bank currently has a network of more than 61 branches and more than 451 cashpoint machines. Al-Jasser has a degree in business administration from King Saud University in Saudi Arabia.
Contact Tel: (+966) 1 479 8888
Abdullah Sulaiman al-Rajhi
Postion: CEO, Al-Rajhi Bank
Biography: Abdullah Sulaiman al-Rajhi is CEO of Al-Rajhi Bank. He is also chairman of the bank’s Malaysian operation, giving him a unique insight into two of the main Islamic finance markets in the world. As part of the powerful local Al-Rajhi family, he is one of Saudi Arabia’s wealthiest men. He became director and general manager of the bank in 1996, before later assuming the chief executive responsibilities. As CEO of one of the largest banks in Saudi Arabia and one of the largest Islamic lenders in the world, Al-Rajhi has a key position in the development of Islamic finance not just in Saudi Arabia, but also internationally. He has been a keen proponent of the use of Islamic finance over many years. He is also chairman of Al-Rajhi Capital, the bank’s investment banking arm. He has been trained at Wharton School in the US and the Cranfield School of Management in the UK.
Contact Tel: (+966) 1 460 3333
Mutlaq al-Morished
Position: Chief financial officer (CFO), Saudi Basic Industries Corporation (Sabic)
Biography: As CFO of Sabic, Mutlaq al-Morished is responsible for supplying a huge amount of Islamic finance lending opportunities to the banking sector in Saudi Arabia and beyond. Al-Morished sees Islamic finance as a good tool for Sabic to diversify its funding sources. As a result, he has borrowed billions of dollars using Islamic finance. Before joining Sabic, Al-Morished was vice-president of shared services and president of Saudi Petrochemical Company. He also currently serves as chairman of Saudi Kayan Petrochemical Company and is on the board of Saudi Iron and Steel Company, Aluminium Bahrain and the Saudi Fund for Development. He has a master’s degree from Stanford University and another in nuclear engineering from Princeton University, both in the US. He also has a degree in nuclear physics and mathematics from the University of Denver, again in the US.
Contact Tel: (+966) 1 225 8000
You might also like...
Rainmaking in the world economy
19 April 2024
Oman receives Madha industrial city tender prices
19 April 2024
Neom seeks to raise funds in $1.3bn sukuk sale
19 April 2024
Saudi firm advances Neutral Zone real estate plans
19 April 2024
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.
