Alkhabeer Capital, a prominent asset manager specialising in Shari’a-compliant investments and financial services, has appointed Ammar Ahmed Saleh Shata to the position of Chairman of the board. 

 

The board also appointed Musaad Mohammad Saad Aldrees to the position of Vice Chairman. 

 

Shata started his career in the financial services sector in 1990, during which he held several leadership positions with the Saudi National Bank and the Islamic Development Bank. Following a long and distinguished career, Shata established Alkhabeer Capital and served as the company’s Executive Director from 2008 until the end of 2021. Under his leadership, Alkhabeer Capital played a vital role in transforming conventional finance in the Saudi market, introducing a range of innovative, Shari’a-compliant financial products that continue to influence the development of the sector today.

 

Shata said: “I would like to express my gratitude to the board of directors for their vote of confidence, and I look forward to supporting the team as we continue to cement Alkhabeer Capital’s unique position across domestic and regional markets. Alkhabeer Capital remains committed to its long-term strategy, which has seen the company bring to market diverse and exciting products and solutions, deliver consistent and robust growth for our shareholders and pursue innovative growth opportunities that have accelerated the transformation and growth of our sector. The company’s resilience, flexibility and commitment to excellence are integral parts of the Alkhabeer Capital identity, which I am confident will play a tremendous role in our future growth journey.”

 

Serving from January 3, 2022 to January 2, 2025, Alkhabeer Capital’s new board will include five non-executive members, namely Saeid Mohammed Binzagr, Mohanad Haydar Binladen, and Samer Sami Al Solh, in addition to the chairman and vice chairman. The board will also comprise three independent members: Dr Issam Zaid Mohammed Al Tawari,  Mohammed Abdulrahman Moumena and Dr Lama Abdulaziz Al Sulaiman. Ahmed Saud Ghouth, CEO of Alkhabeer Capital, is the board’s only executive member.

 

Alkhabeer Capital, headquartered in Saudi Arabia, specialises in investments and financial services. -TradeArabia News Service