Head of Treasury - Treasury and Capital Markets

Job Summary:

To oversee the Treasury Division of the Bank and to ensure that the Division manages the Bank's profit rate, foreign exchange and liquidity risks within the limits and authorizations laid-down by the Board, Central Bank guidelines and other guidelines and authorizations issued by relevant committees.

Key Skills

Conceptual understanding of both Conventional structured products and Islamic finance.

Alinma Bank and Deutsche Gulf Finance Sign Cooperation Agreement

Alinma Bank and Deutsche Gulf Finance signed an agreement that has the point to strengthen joint real estate financing and to provide real estate financing programs with affordable, long-term provisions with flexibility in repayment.
Alinma Bank was represented by Mr. Abdulmohsen Al-Fares, its CEO and Deutsche Gulf Finance was represented by Mr. Fahad Ben Abdullah Al Rajhi, chairman of the company's board of directors.
The signing ceremony took place at the head office of Alinma Bank in Riyadh.

Alinma Bank launches full operations

Prince Sattam was the guest-of-honor at the formal opening ceremony of Alinma Bank in Riyadh on Sunday. The event marked the official launch of the bank’s full operations at its branches across the Kingdom.
Prince Sattam ceremonially announced the commencement of all of Alinma’s banking services. Saudi Arabian Monetary Agency Gov. Muhammad Al-Jasser was also present at the function held at the Al-Anoud Novotel Hotel.

Deutsche Gulf wins home finance award

Deutsche Gulf Finance, a joint venture between Deutsche Bank and a group of Saudi investors, won the “leader in Islamic Home Finance” award at a recently concluded building and infrastructure summit in Riyadh.
The summit also addressed the infrastructure and real estate market within the Kingdom.

Dar Al Arkan says it can pay $2.1 bln debt without tapping bond market

Dar Al Arkan Real Estate Development Co., Saudi Arabia’s biggest property company by market value, can repay 7.8 billion riyals ($2.1 billion) of debt maturing within five years without tapping the bond market again.
Rental income from properties in Mecca, Medina and Riyadh will generate 300 million riyals a year and the company plans to raise money by selling residential properties and land in its portfolio, though not fixed assets.

Saudi Mortgage Law Could Spark $32 Billion of Lending a Year

After five years of searching for a mortgage in the Saudi Arabian capital, Riyadh, 28-year-old Abdulaziz Al Salem has some advice for his peers: Forget it.
Frustrated young Saudis like Al Salem could spark a lending market that Capitas Group International estimates at $32 billion a year for the next decade if the kingdom passes a mortgage law that’s been a decade in the making.
The proposed law is part of a planned overhaul of the kingdom’s home finance market, regulating all parts of the industry: from registering mortgages to allowing judges to prosecute police officers who refuse to carry out eviction orders. The changes are aimed at easing the concerns of lenders discouraged by unclear regulation that could lead to lengthy court disputes.
Saudi authorities began drafting the new property laws about a decade ago. Provisions about evictions and home foreclosures led to disagreements between the government and the Shura Council, delaying its passage for years.

Alawwal launches SR375m real estate fund

The Saudi joint stock company's focus on the real estate sector stems from the fact that this sector is among the most promising ones in the Kingdom, a team of Alawwal executives told a press conference at Hilton's Qasr Al Sharq hotel on Sunday.
The real estate sector is capable of absorbing more capital injections locally and from overseas. Market studies reveal that the Kingdom requires over 200,000 housing units annually.
To achieve the fund's objectives, the expertise of Ulayya Real Estate Development has been called on. It is one of the pioneers in land development and is represented by Hamad Bin Seaidan who has over 30 years of real experience in the field.
The participation in the fund is open to both citizens and resident expatriates through its head office in Jeddah and branches in Riyadh and the Eastern Province. To facilitate participation in the fund, the company has formed a specialized team and has reached an agreement of cooperation with Samba and the National Commercial Bank.

Reforming Credit Rating Agencies in Islamic Banking

The Islamic Financial Services Board has issued a guideline to credit rating agencies on how to recognise, and classify or treat the Islamic products.

King & Spalding advises Jadwa in beverage firm stake buy

King & Spalding, a leading international law firm, said it had advised Riyadh-based Jadwa Investment Company in the acquisition of a significant equity stake in Gulf Union Foods Company (GUFC), a top producer of juices and beverages in Saudi Arabia.

Lawyer Michael McMillen joins Fulbright & Jaworski

The reknown Islamic finance specialist lawyer, Michael McMillen, joins Fulbright & Jaworski as partner to lead its global Islamic finance practice. He used to work previously for Dechert and King & Spalding.

Source: legalweek.com

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