The Board of Directors of United International Holding Company (“Tasheel Finance”) announced a strategic decision to appoint Mr. Mohammed Fahmy as Managing Director, effective March 1st. This appointment strengthens the company’s leadership team with extensive experience and underscores Tasheel’s commitment to achieving sustainable growth and expanding its services in the Saudi market.
Background and context of the decision
This decision culminates a transitional phase that began on December 16, 2023, when the company announced on the Saudi Stock Exchange (Tadawul) the appointment of Mr. Mohammed Fahmy, who was serving as Vice Chairman of the Board, as Acting Chief Executive Officer. This appointment allowed the Board to assess performance and future direction, ultimately leading to Mr. Fahmy's permanent appointment as Managing Director, reflecting the high level of confidence in his ability to steer the company toward achieving its ambitious goals.
Extensive leadership experience supports the company's future
Mr. Mohamed Galal Fahmy boasts a distinguished career spanning over 30 years, during which he has gained in-depth leadership experience across diverse and vital sectors. His expertise encompasses retail, sales, marketing, and strategic planning, in addition to a profound understanding of the financial and accounting sectors. This multifaceted experience provides him with a comprehensive perspective that enables him to address market challenges effectively and innovatively. His membership on the boards of several companies across various sectors further enriches his strategic vision. Mr. Fahmy holds a Bachelor's degree in Accounting from Ain Shams University, providing him with a solid academic foundation that underpins his financial and investment decisions.
The importance of appointments in the context of Vision 2030
This appointment is particularly significant given the economic transformation underway in Saudi Arabia as part of Vision 2030, of which developing the financial sector is a key pillar. Finance companies like Tasheel play a pivotal role in supporting this direction by providing innovative financing solutions for individuals and small and medium-sized enterprises (SMEs), thereby stimulating domestic consumption and driving economic growth. The appointment of experienced leadership like Mr. Fahmy is expected to enhance Tasheel's ability to adapt to the evolving regulatory environment, capitalize on new opportunities presented by the digital transformation of financial services, and develop products that meet the changing needs of customers, thereby solidifying its position as a major player in the Saudi finance sector.
