Masraf Al Rayan has informed its shareholders and investors that at the request of Qatari Diar Real Estate Investment Company, the Qatar Central Bank has approved the appointment of Sheikh Faisal bin Saud al-Thani to represent Qatari Diar in the bank’s board of directors, “replacing and complementing” the term of his predecessor Faisal Abdulwahid Ali al-Hamadi.
The Ministry of Economy and Commerce and the Qatar Financial Markets Authority were both informed of the decision made by Qatari Diar of the replacement.
Masraf Al Rayan said its board was delighted to welcome onboard Sheikh Faisal and al-Hamadi for his efforts during the period he represented Qatari Diar. The board wished him success in his future endeavours.
Sheikh Faisal holds a bachelor’s degree in finance from the California State University. He serves as a director of business development at Qatar Holding. He is also a board member at Qatar Electricity and Water Company as well as MOWASALAT.
Masraf Al Rayan has already announced its financial results for the period that ended in September with a net profit of QR1.42bn, up 14.1% on the same period of 2013.
