Kuwait
New rule in Kuwait: No more cash for gold or jewelry
The Kuwaiti government has officially banned the purchase of gold and jewelry with cash, in a move aimed at strengthening financial transparency and combating illicit activities.
Saudi biggest lender names new CEO in new top reshuffle
1 min Mena Today
Saudi Arabia's biggest lender has appointed a new chief executive to lead the bank, replacing its former acting CEO who was appointed to the role a year ago in the turmoil following the fall of Credit Suisse.
The kingdom's biggest bank by assets had invested 5.5 billion riyals to buy the stake in Credit Suisse in 2022 and became its top shareholder © Mena Today
Saudi Arabia's biggest lender has appointed a new chief executive to lead the bank, replacing its former acting CEO who was appointed to the role a year ago in the turmoil following the fall of Credit Suisse.
Saudi National Bank (SNB) said on Wednesday its board had accepted the resignation of acting CEO Talal Ahmed Al Khereiji due to "personal circumstances".
He was named acting chief executive in March last year as part of a reshuffle at the top of SNB as it took a loss of more than $1 billion on its stake of almost 9.9% in Credit Suisse.
The kingdom's biggest bank by assets had invested 5.5 billion riyals to buy the stake in Credit Suisse in 2022 and became its top shareholder.
Comments by SNB's former chairman Ammar Al Khudairy in March last year exacerbated a crisis of confidence in the Swiss lender, resulting in a major sell-off and a government-arranged takeover by domestic rival UBS.
On Wednesday, SNB said in a bourse filing that new CEO Tareq Abdulrahman Al Sadhan would start his new role on May 1.
He joins from regional lender Riyad bank, where he served as chief executive until December last year.
Reporting by Federico Maccioni and Pesha Magid
Related
United Arab Emirates
PureHealth delivers strong earnings, boosts global asset base
PureHealth Holding PJSC, the largest healthcare group in the Middle East, reported solid financial results for the nine months ending 30 September 2025, with AED20.1 billion in revenue, up 6% year-on-year. EBITDA rose 11% to AED3.5 billion, while net profit increased 8% to AED1.55 billion.
Saudi Arabia
Riyadh’s Vision 2030 finds a new frontier: Rebuilding Syria
Major Saudi Arabian firms are planning billion-dollar investments in Syria as part of the kingdom's business-forward approach to the country's recovery, but U.S. sanctions and a fractured Syrian state apparatus pose formidable obstacles.
Subscribe to our newsletter
