Alkhabeer Capital appoints chairman

Saudi Arabian alternatives asset manager Alkhabeer Capital has named its founder and former executive director as chairman of the board.

Ammar Shata established Alkhabeer Capital in 2008 having worked previously for both the Saudi National Bank and the Islamic Development Bank.

During his tenure as executive director, Alkhabeer played a prominent role in the development of asset management in Saudi Arabia, including the introduction of a number of sharia-compliant investment products.

The firm’s new board, which will sit for three years, will include five non-executive members and three independent members in addition to the newly appointed chairman and vice-chairman.

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