Türkiye Finans, whose majority stake (67.03%) belongs to National Commercial Bank (NCB) today announced the appointment of Saeed Mohammed A. Alghamdi as Chairman of the Board. Serving as the former Vice President of Türkiye Finans, Saeed Mohammed A. Alghamdi continues to carry on his duty as CEO and Board Member at NCB.
Türkiye Finans, the leading innovative player of the Turkish participation banking sector announced today the appointment of Saeed Mohammed A. Alghamdi as the Chairman of the Board of Directors.
Alghamdi was serving as the Vice Chairman of the Board at Türkiye Finans where NCB holds the majority stake.
The New Board of Directors at Türkiye Finans was released to the public with the official statement made to Public Disclosure Platform (KAP) after the board of directors meeting on Friday, December 18th. According to the statement, Chairman Mustafa Boydak handed over his role to Saeed Mohammed A. Alghamdi, the former Vice Chairman. Mustafa Boydak will continue his role at Türkiye Finans as the Vice Chairman of the Board.
Alghamdi, the new chairman of the board at Türkiye Finans holds a bachelor's degree in Science and Computer Engineering from King Fahd University of Petroleum and Minerals. He began his career as a computer engineer in the Ministry of Defense and Aviation. He respectively became the Chief Information Officer and the Chief Operating Officer in Retail Banking Group of Al Rajhi Bank. He operated as the Chief Executive Officer (CEO) of the Retail Banking Group between 2003 and 2007 and the Executive Vice President between 2007 and 2012 in Al Rajhi Bank who is in charge with private banking, corporate banking, treasury, as well as human resources and credit risk and operations. During his course of office at Al Rajhi Bank he was a board member for Al Rajhi Bank, Malaysia, Al Rajhi Capital and Al Rajhi Takaful. Al-Ghamdi rendered advisory service in relation to Banking Management to the Saudi Arabian Monetary Agency and the National Commercial Bank between 2012 and 2013.
About National Commercial Bank (NCB):
The National Commercial Bank (NCB) who holds the majority stake of Türkiye Finans is the largest state-owned bank in Saudi Arabia. The Bank’s total assets at year-end 2014 totaled US$ 116 million and net profit for year 2014 totaled US$ 2,308 million. With 342 branches throughout Saudi Arabia, more than 7 thousand employees and 4 million clients, NCB is the leading bank in the Gulf Region. NCB ranked as #1 in Middle East and #115 in the World according to TIER 1 Capital by Top 1000 World Bank Rankings by The Banker.