The board of directors of Nayifat Finance Company has approved the the acceptance of the resignation of Mr. Bandar bin Mohammed Al-Baiz from his position as CEO of the Company, effective from April 25, 2024 due to personal circumstances. The Board of Directors also decided to approve the appointment of Mr. Fahad bin Ibrahim Al-Mufarrej as CEO of Nayifat Finance Company as of April 28, 2024. Fahad bin Ibrahim Al-Mufarrej has more than 35 years of experience, including many memberships and positions at the level of boards of directors and committees, and currently he is a member of the Board of Directors and Chairman of the Audit Committee of Al Baraka Group and a member of the Board of Directors of the Saudi Printing and Packaging Company, He previously served as the Managing Director of the Saudi Printing and Packaging Company, and Director of the Banking Supervision Department at the Saudi Central Bank, in addition to his membership in many boards of directors and committees inside and outside the Kingdom, Mr. Fahd Al-Mufarrej obtained a Bachelor of Administrative Sciences from King Abdulaziz University in 1986, in addition to many accredited professional qualifications obtained from inside and outside the Kingdom.