
Abdullah Al-Fares appointed Chairman of KSA, Bader Al-Kharafi as Vice Chairman
Zain KSA, a leading telecommunications and digital services provider, announced that its Board of Directors, elected by the Ordinary General Assembly held on April 24, 2025, for a new four-year term, has appointed Eng. Abdullah bin Fahad Al-Fares as Chairman of the Board of Directors and Mr. Bader Nasser Al-Kharafi as Vice Chairman of the Board.
The Chairman, Eng. Abdullah bin Fahad Al-Fares, is a national economic leader with extensive experience in both the public and private sectors, having worked in several fields, most notably strategic management, transformation, and governance. He currently serves as Undersecretary for Strategy and Development at the Ministry of Industry and Mineral Resources. He has also held several leadership positions throughout his career, including Chief Strategy Officer at a Public Investment Fund company and Deputy Governor for Strategy at the Small and Medium Enterprises General Authority. Al-Fares holds a Master's degree in Business Administration from Prince Sultan University and a Bachelor's degree in Electrical Engineering from King Saud University.
Mr. Bader Nasser Al-Kharafi is a prominent leader in the ICT sector in the Middle East and Africa, currently serving as Vice-Chairman and Group CEO of Zain Group as well as a member of the Board of Directors at several regional and international companies operating in the financial and industrial sectors, including the Chairmanship of the Board of Directors at Boursa Kuwait. Al-Kharafi holds an MBA degree from the London Business School and a Bachelor's degree in Mechanical Engineering from Kuwait University.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Zawya
2 hours ago
- Zawya
United Arab Bank PJSC launches strategic rights issue to raise up to AED 1.03bln
United Arab Emirates: United Arab Bank PJSC ("UAB"), listed on the Abu Dhabi Securities Exchange (ADX) announced that it proposes to increase its issued share capital by an amount up to AED 1,031,275,325 (one billion thirty-one million two hundred seventy-five thousand three hundred twenty-five dirhams) from AED 2,062,550,649 (two billion sixty-two million five hundred fifty thousand six hundred forty-nine dirhams) up to AED 3,093,825,974 (three billion ninety-three million eight hundred twenty-five thousand nine hundred seventy-four dirhams) by way of the Rights Issue offered to the existing shareholders of the Bank. Further, United Arab Bank has published an invitation to its shareholders (the "Invitation") to subscribe for New Shares. Frequently asked questions relating to the Rights Issue will be made available on UAB's website ( on or around today's date. The New Shares will be issued at an issue price of AED 1 per New Share (the "Issue Price"). The terms and launch of the Rights Issue were approved by the UAB's General Assembly Meeting held on 6 March 2025, following the approval of the Board of Directors of the Bank held on 4 February 2025. The necessary regulatory approvals have been obtained for this transaction. United Arab Bank intends to use the net proceeds raised from the Rights Issue to strengthen its capital base and to support future growth of the business of United Arab Bank. The holders of Rights, which includes shareholders of United Arab Bank and any persons who purchased Rights during the Rights Trading Period (the "Eligible Persons"), will be entitled to exercise their Rights to subscribe for New Shares at the Issue Price commencing on 4 July 2025 and ending on 17 July 2025. The New Shares will be allocated to Eligible Persons on 24 July 2025. Refunds will be given to Eligible Persons, who did not receive the number of New Shares that they subscribed for, on or around 24 July 2025. Commenting on the announcement, Mr. Shirish Bhide, CEO of United Arab Bank said: "The Rights Issue represents a significant milestone in the Bank's journey towards its next phase of growth. It is an important step in strengthening United Arab Bank's capital position and reinforces our long-term commitment to sustainable growth. The additional capital will support the implementation of our growth strategy, enhance our financial resilience, and create long-term value for our shareholders while continuing to serve the UAE economy and contribute to its development agenda.' First Abu Dhabi Bank PJSC has been appointed as Lead Manager and Bookrunner in respect of the Rights Issue and Al Tamimi & Co. have been appointed as Legal Adviser. Expected Timetable of Principal Events * In order to receive Rights on the Eligibility Date, investors must ensure that they execute any purchase orders for shares at least two business days prior to the Eligibility Date, i.e. on or before 17 June 2025, to allow for the settlement of trades on the ADX (which operates on a T+2 basis). About United Arab Bank P.J.S.C. United Arab Bank P.J.S.C. (UAB) was established in 1975, in the Emirate of Sharjah as a joint venture between key UAE and international investors, and its shares are publicly traded on the Abu Dhabi Securities Exchange (ADX). UAB offers a wide range of Wholesale Banking, Retail Banking, Treasury & Financial Markets, as well as Shari'ah compliant products, services and flexible solutions, to meet the ever-evolving needs of our clients and the markets. Today, UAB is recognized as one of the few home-grown banks in the UAE, striving to enhance the lives of people by humanizing banking through impeccable service and tailored financial support. UAB is rated investment grade, both, by Moody's (Baa3/P-3/Positive) and Fitch (BBB+/F2/Stable). For further information please visit or contact: Sirine El Merhebi Marketing & Communications Department Direct Line: +971 6 507 5415 Mobile: +971 5 5607 2929 Email:


Zawya
15 hours ago
- Zawya
United Arab Bank launches strategic Rights Issue to raise up to $280.4mln
United Arab Bank PJSC (UAB), listed on the Abu Dhabi Securities Exchange (ADX) announced that it proposes to increase its issued share capital by an amount up to AED1,031,275,325 (one billion thirty-one million two hundred seventy-five thousand three hundred twenty-five dirhams) from AED2,062,550,649 (two billion sixty-two million five hundred fifty thousand six hundred forty-nine dirhams) up to AED3,093,825,974 (three billion ninety-three million eight hundred twenty-five thousand nine hundred seventy-four dirhams) by way of the Rights Issue offered to the existing shareholders of the Bank. Further, United Arab Bank has published an invitation to its shareholders (the "Invitation") to subscribe for New Shares. Frequently asked questions relating to the Rights Issue will be made available on UAB's website ( on or around today's date. The New Shares will be issued at an issue price of AED1 per New Share (the "Issue Price"). The terms and launch of the Rights Issue were approved by the UAB's General Assembly Meeting held on 6th March 2025, following the approval of the Board of Directors of the Bank held on 4th February 2025. The necessary regulatory approvals have been obtained for this transaction. United Arab Bank intends to use the net proceeds raised from the Rights Issue to strengthen its capital base and to support future growth of the business of United Arab Bank. The holders of Rights, which includes shareholders of United Arab Bank and any persons who purchased Rights during the Rights Trading Period (the "Eligible Persons"), will be entitled to exercise their Rights to subscribe for New Shares at the Issue Price commencing on 4th July 2025 and ending on 17th July 2025. The New Shares will be allocated to Eligible Persons on 24 July 2025. Refunds will be given to Eligible Persons, who did not receive the number of New Shares that they subscribed for, on or around 24th July 2025. Commenting on the announcement, Shirish Bhide, CEO of United Arab Bank, said, "The Rights Issue represents a significant milestone in the Bank's journey towards its next phase of growth. It is an important step in strengthening United Arab Bank's capital position and reinforces our long-term commitment to sustainable growth. The additional capital will support the implementation of our growth strategy, enhance our financial resilience, and create long-term value for our shareholders while continuing to serve the UAE economy and contribute to its development agenda.' First Abu Dhabi Bank PJSC has been appointed as Lead Manager and Bookrunner in respect of the Rights Issue and Al Tamimi & Co. have been appointed as Legal Adviser.


Al Etihad
5 days ago
- Al Etihad
UAE wins presidency of General Assembly of UN-Habitat
30 May 2025 19:52 ABU DHABI (WAM)The UAE has achieved a new diplomatic milestone by winning, for the first time, the presidency of the General Assembly of the United Nations Human Settlements Programme (UN-Habitat) and securing membership in its Executive unprecedented achievement was shared with the Republic of Malaysia, following a highly competitive election during the Assembly meetings being held in Nairobi, international recognition reaffirms the UAE's leading role in supporting sustainable urban development, housing initiatives, and advancing the United Nations Sustainable Development Goals (SDGs).The UN-Habitat General Assembly, composed of 193 member states, is the programme's highest decision-making body. It is responsible for guiding global policies aimed at improving living conditions in cities and enhancing the quality of life in urban this occasion, Suhail Mohamed Al Mazrouei, Minister of Energy and Infrastructure, expressed his pride and honour in this international achievement, which adds to the UAE's distinguished record of emphasised that the UAE's election as President of the UN-Habitat General Assembly is a recognition of its significant efforts, guided by the vision of its wise leadership, in establishing the nation as a comprehensive model for adequate housing and sustainable urban Mazrouei said, 'This remarkable achievement reflects the vision and directives of the UAE's wise leadership, which has made housing and urban development a strategic priority, recognising it as a fundamental pillar for social stability and quality of life. The leadership has directed efforts toward providing an integrated housing environment that ensures well-being and dignity for all citizens and residents. It has also launched numerous national initiatives and programs that have contributed to developing a modern housing system and offering innovative and sustainable solutions to meet the needs of various segments of society.'He added, 'The Sheikh Zayed Housing Programme stands as a prominent example of this integrated national vision. Since its establishment in 1999, the programme has successfully enhanced family stability, met the demand for government housing, and provided decent housing for Emirati citizens. Through this victory, the UAE reaffirms its commitment to continue contributing to global housing and urban planning efforts. The country will work to deepen cooperation with all 193 member states of the General Assembly, with the goal of developing sustainable, inclusive cities that are capable of meeting future challenges.'He affirmed that the UAE will leverage this leadership role to support the implementation of Goal 11 of the United Nations Sustainable Development Goals, which focuses on 'making cities and human settlements inclusive, safe, resilient, and sustainable.'He also pointed out that the joint presidency with Malaysia and membership in the UN-Habitat Executive Board will open new avenues for strengthening dialogue among member states and for exchanging the best international experiences and practices. He stressed that the UAE will lead joint efforts to promote innovation in urban housing and to present pioneering models for addressing the challenges of rapid urban growth and climate Minister continued, 'We will continue working with member states, civil society organisations, and the private sector to develop clear visions and innovative action plans that meet the needs of global communities and provide adequate and safe housing for all people. We consider this responsibility a great honour and an opportunity to further enhance the UAE's international record.'He added, 'We will work hand in hand with all international partners to embed the principles of sustainable urban development and lead global efforts toward urban transformation, aiming to create a more inclusive, equitable, and sustainable living environment for all.'For his part, Eng Mohamed Al Mansouri, Director-General of Sheikh Zayed Housing Programme, said, 'This achievement is a true reflection of the UAE's dedicated efforts in developing a sustainable and smart urban housing system. The Sheikh Zayed Housing Programme remains one of the most vital national pillars that has strengthened the UAE's global standing in this field by offering innovative housing solutions that meet the highest standards of quality and environmental and social sustainability.'Al Mansouri also extended his appreciation to the national team from the Sheikh Zayed Housing Programme, in coordination with the Ministry of Foreign Affairs and the UAE Embassy in Nairobi, for their outstanding efforts over the past three and a half years, which began with the candidacy file and culminated in successfully securing international support for key UN-Habitat leadership added, 'We are fully geared to enhance cooperation with member states and share the UAE's pioneering experience in building integrated urban communities characterised by diversity and innovation, in line with our leadership's vision for achieving sustainable development.' He further noted that the UAE's presidency of the UN-Habitat General Assembly will bolster its status as an influential international partner in shaping future urban policies and support the country's drive to maintain momentum in sustainable development efforts both regionally and globally.