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Bank AlJazira announces the Resignation of the Managing Director & CEO of the Bank

Element ListExplanation
Introduction Bank AlJzaira announces that its Board had resolved on the meeting held on 07 October 2020 the acceptance of Mr. Nabil Dawood Al-Hoshan resignation from his position as the Managing Director & the Chief Executive Officer of the Bank with effect from 07 October 2020 due to his special circumstances.

Moreover, the Board of Directors decided to appoint Mr. Ahmed Sufiyan Al-Hassan as an Acting Chief Executive Officer, in charge of the bank until the justifications for appointing a new Chief Executive Officer is completed including obtaining SAMA’s No Objection.

The Chairman & the Members of the Board of Directors extended their gratitude & appreciations to Mr. Nabil Al-Hoshan for all his efforts that he exerted throughout his tenure as the Managing Director & CEO of the Bank over the past ten years, which had a great impact on developing the Bank’s business and preserving its position among the leading Banks in the Kingdom of Saudi Arabia.

Element ListExplanation
Name of the Resigning CEO Mr. Nabil Dawood Al-Hoshan
Resignation Acceptance Date 2020-10-07 Corresponding to 1442-02-20
Resignation Effective Date 2020-10-07 Corresponding to 1442-02-20
Reasons for Resignation Due to his own special circumstances.
Element ListExplanation
Appointment Type Assignment
Name of the CEO Mr. Ahmed Sufiyan Al-Hassan
Date of Board Resolution 2020-10-07 Corresponding to 1442-02-20
Start Date 2020-10-07 Corresponding to 1442-02-20
Brief Resume Mr. Ahmed Sufiyan Alhassan holds a Bachelor’s Degree in Computer Science form King Saud University and has more than 18 years of experience in the Banking Sector, during which he held the position of Head of Information Technology in SADAD, Head of Banking Channels Development in Saudi British Bank and currently holds the position of Senior Vice President and Chief Operating Officer in AlJazirah Bank.

The Capital Market Authority and the Saudi Stock Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.

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