Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) has announced the appointment of a former executive at Qatar National Bank (QNB) Layth al-Shaiban as head of the bank’s business in Saudi Arabia.
In March, the Saudi Arabia Monetary Authority (SAMA) has granted FAB a licence to establish a commercial banking business in the kingdom.
Under the new licence, the bank can operate up to three branches across Saudi Arabia.
“Shaiban has been appointed as Chief Executive Officer (CEO) of FAB’s new commercial banking business in Saudi Arabia, subject to regulatory approvals,” Reuters reported, citing an emailed statement from the Abu Dhabi-listed bank.
