CEO Today Middle East Awards

53 www.ceotodaymagazine.com CEO Today Middle East Awards 2018 SAUDI ARABIA ABOUT KHALED AL-ABOODI Khaled Al-Aboodi is one of the most powerful people in Islamic finance. In 2007, he was appointed CEO and General Manager of the Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of IsDB Group. Early Years Khaled Al-Aboodi was born in Bureida on December 1960. He graduated from King Saud University in 1982 and later enrolled in Northeastern University in Boston, where he earned a Master degree in Economics in 1997. After graduate school, Al-Aboodi went to work for the Ministry of Finance and National Economy. From 1982 to 1993, Al-Aboodi started as an Economic Researched and end up Acting Director at the International Financial Institutions Department with the Ministry of Finance and National Economy in 1993. Experience with the World Bank In 1995, he moved to Washington DC to serve as Assistant to the Saudi Executive Director at the World Bank; and was later appointed Alternate Executive Director for Saudi Arabia at the World Bank Board until 2000. Al-Aboodi represented his country in meetings at the World Bank and engages in direct consultations and negotiations with other Executive Offices in efforts to gain support for the World Bank’s mission of reducing poverty. Saudi Arabia is one of the larger shareholders of the World Bank amongst 189 member countries. Saudi Arabia achieved the status of a single-country constituency at the Executive Board in 1986 in recognition of its contributions to the world economy and international development. Recent Years Currently, Khaled Al-Aboodi is chief executive officer of ICD and a member of the corporation’s board of directors. He joined ICD in 2001, as bringing 20 years of finance industry leadership, economics expertise, and executive management experience to his role with the corporation. Since joining ICD, Khaled Al-Aboodi manages the corporate’s direction and shares ICD’s strategy and vision with clients, partners, shareholders and investors. Khaled Al-Aboodi is chairman of Bidaya Home Finance Co (Saudi Arabia), Euroasia Leasing Co. (Tatarstan), South European Investment Co. (SIEC) (Bosnia) and Wefaq Bank (Tunis), among other financial institutions. In addition, he is board member of Inma Bank, Afaq Fund for SME, Saudi Grains Organization (SAGO), Saudi Agricultural & Livestock Investment Co. (SALIC), all in the Kingdom of Saudi Arabia, but also Euro Mediterranean Investment Co. (EMIC) (Cyprus) and Bank Akhdar (Morocco) among others. Since 2016 and for three years in row, Al-Aboodi was recognized by Islamica 500 as one of the 500 Most Influential People in Islamic Finance. He has been named multiple times by several magazine as one of the 50 who Matter and was featured several times in financial magazines publications as one of the best CEOs. FIRM PROFILE The Islamic Corporation for the Development of the Private Sector (“ICD”) is a multilateral development financial institution and is part of the Islamic Development Bank (“IDB”) Group. ICD was established in November 1999 to support the economic development of its member countries through the provision of finance for private sector projects, promoting competition and entrepreneurship, providing advisory services to the governments and private companies and encouraging cross border investments. ICD has an authorized capital of $4 billion. Currently, the shareholders of ICD are the IDB (50%), 53 Islamic countries (30%) five public financial institutions (20%). ICD mandate and objectives ICD fosters sustainable economic growth in its 53 member countries by: • Financing private sector investment • Mobilizing capital in the international financial markets • Providing advisory services to business and governments. ICD select the financing projects based on their contribution to economic development considering factors such as job creation, Islamic finance development, contribution to exports etc. ICD also provides advisory services to governments and private sector groups on policies designed to encourage the establishment, expansion and modernization of private enterprises, development of capital markets, best management practices and to enhance the role of the market economy. ICD operates to complement the activities of the IDB in member countries. ICD is rated ‘AA/ FQ’ by Fitch, ‘Aa3/P-1’ by Moody’s, and ‘A+ by Standard & Poor’s. FOR MORE INFORMATION Tel: (966-12) 6361400 | Tel: (966-12) 6441644 | Fax: (966-12) 644 4427 Email: icd@isdb.org | Web: www.icd-ps.org KHALED AL-ABOODI CEO of The Islamic Corporation for the Development of the Private Sector (ICD) IslamicCorporation for the Developmentof thePrivateSector