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Wednesday, December 21, 2005

Nahed Taher: First Saudi Woman to Become Bank's CEO

Dr. Nahed Taher has been appointed CEO for the Gulf One Investment Bank, making her the first Saudi woman to head a bank in the Gulf region. Gulf One, headquartered in Bahrain with $100 million in capital, will become operational in the second quarter of 2006. Gulf One’s financial products and services will focus on mega-energy and infrastructure investments worth $1 trillion over the next 15 years. In addition, it will provide services in restructuring and mergers and acquisitions, a presently non-existent but potentially lucrative segment in regional corporate finance in light of Saudi Arabia’s accession to the World Trade Organization. The bank is being initiated and promoted by Nahed, a leading Saudi banker and economist, and Ziyad Omar, a Saudi banking and finance executive.

Regional investors have come on board to back the initiative. A final list will be announced before the bank begins operation. The Bahrain Monetary Authority (BMA) approved the bank’s license on Dec. 6. Nahed was a senior economist at the National Commercial Bank, the first woman to hold such a position in a bank in Saudi Arabia. Gulf One is focused on building a world-class operation that will inject fresh thinking and utilize innovative solutions to address structural financial and economic needs of the region. The aim is to capitalize on high standards of know-how with the best international financial practice and products. Gulf One will be guided by Islamic principles while focusing on wealth creation with added value aiming at achieving economic and social prosperity. Read More....

Source: Arab News

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