Amlak appoints Adnan Al-Shubaily CEO as Abdullah Al-Sudairy steps down

Logo of Amlak International for Real Estate Finance Co.

Amlak International for Real Estate Finance Co. (Amlak) announced on Oct. 31 that the board of directors accepted the resignation of CEO Abdullah Al-Sudairy, effective as of Jan. 3, 2023..

In a statement to Tadawul, Amlak said Al-Sudairy will continue as Managing Director.

The board of directors also approved the appointment of Adnan Al-Shubaily as Amlak’s new CEO after a “no-objection” from the Saudi Central Bank (SAMA), effective as of Jan. 3, 2023.

Amlak indicated that the resignation comes in line with the company's strategy to expand its business and products, which requires the Managing Director’s full dedication to achieve such goals.

Al-Shubaily has rich experience of more than 15 years in multiple areas across the banking and IT sectors. He held several positions, the most recent of which were Chief Business Officer at Thiqa Co. and Chief Digital Officer at Gulf International Bank. 

Al-Shubaily holds a master's degree in internet application development from Middlesex University (UK) and a bachelor's degree in information technology from Hartfordshire University (UK).