Al-Nayifat appoints Saleh Al-Omair as Chairman of BOD, Bandar Al-Baiz as Managing Director and CEO

Al-Nayifat Finance Company announced the decision of the Board of Directors to elect Saleh Nasser Suleiman Al-Omair (independent) as Chairman of the Board of Directors and Abdulmohsen Muhammad Abdul Rahman Al-Saleh (Non-Executive) as Vice-President, and the appointment of Bandar Muhammad Ahmad Al-Baiz (Non-Executive) in the position of Managing Director and CEO of the company.
The Board of Directors’ secret and the formation of committees for the new term, which are: (Executive Committee – Nomination and Remuneration Committee – Risk Management Committee – Credit Committee – Assets and Liabilities Committee – Strategic Committee).
Bandar Al-Baiz is currently the Director of Operations Department at Yaqeen Financial Company since 2014, a joint stock company working in the field of financial services. He holds a Bachelor of Accounting from King Saud University in 2001.
He has a good experience of more than 20 years through his work in the banking and non-banking sector, and he will start his work on the date of obtaining the Saudi Central Bank’s no-objection.
Representatives of the company were also appointed to the Capital Market Authority and the Saudi Stock Exchange (Tadawul) and the Securities Depository Center Company (Edaa) for all purposes related to the application of the Capital Market Law and its implementing regulations.
All of the above appointments are subject to obtaining approval and no objection from the Central Bank of Saudi Arabia. The formation of both the Audit Committee and the Sharia Committee has been approved in accordance with the results of the Extraordinary General Assembly held on September 25, 2022 AD for a period of 3 Gregorian years.
This comes with referenced to the results of the Extraordinary General Assembly of the company on September 25, 2022, which included the approval of the election of the Board of Directors for the new session, which begins on September 25, 2022 and ends on September 24, 2025 for a period of three years.
In the same context, Al-Nayifat Finance Company announced that the Board of Directors accepted on 26/09/2022 the resignation of Muhammad Ali bin Muhammad Al-Hawqal (independent) from the membership of the Board due to his personal circumstances.