Flexible Murabaha Finance Company (Murana) announced significant decisions by its Board of Directors, appointing a new leadership team to guide the company through the coming years. According to an official statement published on the Saudi Stock Exchange (Tadawul), the Board of Directors, at its meeting held on January 7, 2026, approved the appointment of Mr. Salman bin Ibrahim Al-Asmari as Chairman and Mr. Nayef bin Sulaiman Al-Maiman as Vice Chairman.
These appointments are part of the current Board of Directors term, which effectively began on June 27, 2025, and is scheduled to continue for three calendar years until June 26, 2028. These decisions received the approval of the Saudi Central Bank (SAMA) on February 3, 2026, which represents a key regulatory step that formalizes the appointments and confirms the company’s commitment to the highest standards of governance and regulatory oversight.
General context and importance of the finance sector in the Kingdom
Marana operates in a vital and rapidly growing sector: finance, a cornerstone of Saudi Vision 2030. The Vision aims to diversify the economy and strengthen the private sector, and finance plays a pivotal role in achieving this by providing necessary liquidity to individuals and institutions, particularly small and medium-sized enterprises (SMEs), which are key drivers of economic growth and job creation. The importance of finance companies licensed by the central bank lies in their ability to offer innovative, Sharia-compliant financing solutions, thus filling a significant gap in the market and complementing the role of the traditional banking sector.
The expected impact of the new leadership on the "flexible" strategy
The experience of both Al-Asmari and Al-Maiman is expected to strengthen Marana's competitive position and drive its growth and expansion. New leadership often brings strategic insights aimed at product development, adopting the latest financial technologies (FinTech), enhancing customer experience, and expanding the company's market share. In an increasingly competitive environment, the new management will need to focus on innovation and effective risk management to ensure sustainable growth. This move not only boosts investor confidence in the company's future but also underscores the maturity of its management structure and its ability to attract top leadership talent capable of achieving its strategic objectives and contributing effectively to the development of the Saudi financial sector.
