Arab News

Fahd Ibrahim Al-Akeel is the newly appointed executive director of Saudi Payments, a Saudi Arabian Monetary Authority (SAMA) subsidiary, and operator of national payment network Mada.

The Cabinet in November 2019 approved SAMA’s request to establish Saudi Payments, responsible for operations and the development of the infrastructure of national payment systems.

The company aims to ensure that all payments and financial transactions processed in Saudi Arabia are safe and secure.

Al-Akeel has almost two decades of extensive experience in the business and financial sectors, where he held several leadership positions in leading Saudi companies and banks.

He has also obtained professional management degrees and certificates from Canada, Switzerland, and the US.

Al-Akeel started his career in 1998 as an advanced technology analyst at Riyad Bank, where he worked until 2002. 

After that, he worked with the National Agricultural Development Co. as project manager for one year and later joined Arab National Bank, where he stayed until 2008.

From 2008-2011, he was head of customer experiences and project management officer at SABB bank. In 2011, he joined Bank Al-Jazira as head of the business transformation group. In 2018, the Quality of Life program and the Najm Company for Insurance Services welcomed him as CEO. In becoming CEO, Al-Akeel anticipated a unique opportunity for the insurance sector in fulfilling Saudi Arabia’s Vision 2030.