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AccountAbility Advisory Council member Mr. Abdallah S. Jum’ah has been appointed Chairman of the Board of the Saudi Investment Bank (SAIB) for a three-year term.
Mr. Jum’ah was President and Chief Executive Officer of the Saudi Arabian Oil Company (Saudi Aramco), the world’s largest oil company, from November 1995 to December 31, 2008. He has served on Saudi Aramco’s Board of Directors and on the Saudi Arabian Supreme Council of Petroleum and Mineral Affairs. He currently serves on the boards of directors for Halliburton Company, the American University in Cairo, Zamil Industries, Saudi Economic Cities, Reliance International, and AccountAbility. Mr. Jum’ah is also a member of the Supreme Committee for the King Abdulaziz City for Science and Technology and the Supreme Economic Council’s Advisory Committee.
The Saudi Investment Bank (SAIB) is a publicly listed company headquartered in Riyadh, Saudi Arabia. The Bank began operations in March 1977 and its shareholders include JPMorgan Chase, Mizuho Corporate Bank (formerly The Industrial Bank of Japan), Saudi public and private institutions, and Saudi individuals. SAIB offers traditional wholesale, retail, and commercial banking products. In particular, SAIB arranges financing of quasi-government and private industrial sectors and trade finance products for facilitating imports and increasing Saudi exports. SAIB has also established successful joint ventures and subsidiaries to cater to investment banking and share trading, asset management, leasing, mortgages, insurance, and credit cards.
“We congratulate Mr. Jum’ah on this prestigious appointment,” said AccountAbility’s Chief Executive Officer, Sunny Misser. “Mr. Jum’ah’s clear vision, global experience, and practical perspective will be invaluable to SAIB.”