Riyadh - Mubasher: The Board of Directors of the Saudi Tourism Development Fund approved appointing Qusai AI Fakhri as the fund’s CEO, according to an official statement on Wednesday.
AI Fakhri has more than 20 years of experience in the banking, investment, and real estate development sectors and served as an advisor to the Minister of Tourism Ahmed Al Khateeb.
He was also a board member in a number of investment funds and joint-stock companies and has a bachelor’s degree in financial administration from King Fahd University of Petroleum and Minerals.
On 17 June, the Crown Prince of Saudi Arabia Prince Mohammed bin Salman approved the formation of the tourism fund’s board.
The board also includes Princess Haifa bint Mohammed Al Saud, Ihsan Bafakih, Stephen Groff, Mohamed Al Omran, and Mohammed Alhokal.
Earlier this week, Saudi Arabia was reportedly planning to launch a tourism development fund at an initial capital investment of SAR 15 billion ($4 billion).
