Riyadh – Mubasher: Quara Finance, a leading Saudi company providing Sharia-compliant financial services, has named Ehab bin Mahmoud Hassoubah as its new CEO.

Hassoubah will lead on Quara Finance’s new business strategy aimed at further developing its innovative financial products and technical solutions, according to a press release on Wednesday.

Established 11 years ago, Quara Finance, previously Maalem Financing, had been a leading contributor to the growth of the Saudi finance sector.

Through its new strategy, Quara Finance seeks to raise the quality of its services and products, develop the flexibility of its operations, and build its leadership role within the finance sector by adopting financial technology (fintech) solutions.

Meeting the needs of Saudi Arabia’s growing small and medium enterprises (SMEs) will be a priority for the new business strategy, Hassoubah revealed, adding that “Based on its experience, Quara Finance is well placed to benefit from the projected growth in the financial technology sector, which is supported by the government, in order to develop the kingdom’s financial technology services infrastructure.”

The newly-appointed CEO has a long professional career in the financial sector, including commercial and investment banking service development. During his 20 years’ experience, he developed business strategies and led several transformation programmes in the finance and banking sectors.