Shuaa Capital, a UAE-based integrated financial services Group, has announced the appointment of Atif Al Othri as chief executive officer of its fully owned Shari’ah compliant business financing arm Gulf Finance Saudi Arabia.

Atif brings to Gulf Finance two decades of experience in the investments and banking industries, working across various businesses, including small and medium enterprises (SMEs), commercial and corporate banking sectors.

His role at Gulf Finance includes leading a team of professionals who are responsible for providing a wide range of tailor made financial lending and leasing products and services to SMEs in Saudi Arabia.

Jassim Alseddiqi, chairman of Shuaa Capital and Gulf Finance Saudi Arabia, said: “Gulf Finance Corporation and its Shari’ah compliant sister company Gulf Finance Saudi are niche providers of financing solutions to businesses in the Gulf.

“As we forge ahead with the expansion of our various business lines, we are paying particular attention to our presence in the Kingdom during this focal point in its history. With the Kingdom gearing up for the next stage in its economy’s evolution, Atif’s experience and knowledge makes him the ideal candidate to lead our ambitious plans there, and to support not only the growth of the Islamic finance industry, but the Kingdom’s finance sector as a whole.”

Al Othri said: “I am pleased to have joined Gulf Finance Saudi Arabia and in-turn, the Shuaa family. These are exciting times for a company like Gulf Finance SA, and we see robust demand for financing solutions by active and well-established corporates and businesses operating in the Kingdom, especially in the midst of efforts by the Government to diversify and open up the economy further, and plans for sectoral privatisation. We look forward to being at the heart of the Kingdom’s burgeoning commercial sector.”

Prior to joining Gulf Finance, Al Othri was deputy head of Corporate Banking at Bank Muscat in Saudi Arabia

Al Othri holds a master’s degree in business administration from the University of Southampton (United Kingdom) and a bachelor’s degree in computer information system from the University of Detroit (USA).- TradeArabia News Service