Riyadh – Mubasher: Amlak International Finance Company has appointed Abdullah bin Ibrahim Al Howaish as the Chairman for the new board term, which commenced on 4 June 2024.

The company appointed Amr bin Mohammed Kamel as the Vice Chairman and Abdullah bin Turki Al Sudairy as the Managing Director for the same board term, according to a bourse disclosure.

Al Howaish will serve as a non-executive board member, while Kamel will be an independent member and Al Sudairy will be an executive member.

The three officials shall remain in their posts for three years until 3 June 2027.

The three appointments followed a non-objection from the Saudi Central Bank (SAMA) on 11 July 2024 after the elected board made its decision on 6 June this year based on an extraordinary general meeting (EGM) On 20 May.

Amlak International earlier approved a 12.50% capital increase to SAR 1.01 billion distributed over 101.92 million through bonus shares.

It is worth mentioning that the company generated net profits worth SAR 8.60 million in the first quarter (Q1) of 2024 while its investments totalled SAR 893,000.