GIB Saudi Arabia names Chairman, CEO

Gulf International Bank Saudi Arabia’s (GIB) board of directors on March 31, 2019 appointed Abdulla bin Mohammed Al Zamil as a Chairman of the board, the bank said in a statement.

Abdulaziz bin Abdulrahman Al-Helaissi was also appointed as a Chief Executive Officer (CEO), the statement added.

Al Zamil has an extensive experience in the private sector companies, as he works as the CEO and a board member of Al Zamil Group. 

Al-Helaissi is experienced in the financial field, as he worked as deputy governor for supervision at Saudi Arabian Monetary Authority (SAMA).

In February, the bank’s constituent assembly appointed the first board of directors consisting of ten directors.

The bank is capitalized at SAR 7.5 billion and will be located in the Eastern Province. It will be equally owned by Saudi Arabia’s Public Investment Fund (PIF) and Bahrain’s Gulf International Bank (GIB).

“GIB converting its branches into a locally incorporated bank in Saudi Arabia reflected the bank’s strategy aimed at boosting its foothold and came as part of wider expansion plans in the GCC,” stated Abdulla Al Zamil.

In May 2017, GIB was granted a license to expand operations in Saudi Arabia, Argaam previously reported.