The Board of Directors of the Social Development Bank appoints Ibrahim Al-Rashed as General Manager of the Bank

The Board of Directors of the Social Development Bank, headed by His Excellency the Minister of Labor and Social Development and Chairman of the Bank’s Board of Directors, Dr. Ali bin Nasser Al-Ghafis, at its recent meeting in the city of Riyadh, appointed Mr. Ibrahim bin Hamad Al-Rashed as General Director of the Bank, succeeding Dr. Abdullah bin Abdul Rahman Al-Namlah. The Bank's Board of Directors extended its thanks and appreciation to Dr. Al-Namlah for the efforts he made during his assumption of the Bank's management, wishing at the same time success to the current General Manager of the Bank in performing the tasks entrusted to him and continuing the growth and development process of the Bank.

The Board of Directors of the Social Development Bank, headed by His Excellency the Minister of Labor and Social Development and Chairman of the Bank’s Board of Directors, Dr. Ali bin Nasser Al-Ghafis, at its recent meeting in the city of Riyadh, appointed Mr. Ibrahim bin Hamad Al-Rashed as General Director of the Bank, succeeding Dr. Abdullah bin Abdul Rahman Al-Namlah .


The Bank's Board of Directors extended thanks and appreciation to Dr. Al-Namlah for the efforts he provided during his assumption of the Bank's management, wishing at the same time success to the current General Manager of the Bank in performing the tasks entrusted to him and continuing the growth and development process of the Bank .

On this occasion, Ibrahim Al-Rashed thanked the Bank’s Board of Directors, represented by His Excellency the Chairman of the Board, Minister of Labor and Social Development, and their Excellencies the members of the Board for this trust, stressing that this trust will be a catalyst for making all efforts to achieve the Bank’s development and social goals, which are consistent with the Kingdom’s ambitious vision 2030. And to provide everything that serves the nation and the citizen under the leadership of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud - may God protect him - and His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince, Deputy Prime Minister and Minister of Defense - may God protect him.

Al-Rashed stressed that the bank bears a very great responsibility towards financing small and medium enterprises, and moving towards a new phase that changes social behavior from pastoralism to development by supporting self-employment and financing productive families .


The Director General of the Bank expressed his thanks to his predecessor, Dr. Abdullah bin Abdul Rahman Al Namlah, who spared no effort in developing the Bank’s services and programs during the previous period, wishing him success in his upcoming national mission .

On the other hand, Ibrahim Al-Rashed met at the headquarters of the Social Development Bank in Riyadh today, Sunday, with assistants for the sectors (finance, investment, social loans, savings, and shared services) and a number of department directors and employees of the bank, who in turn welcomed him and congratulated him on this confidence, asking God to grant him all the best and success .


Al-Rashed holds a master’s degree in computer science from the Florida Institute of Technology, and has more than 23 years of experience in the banking and technology sectors, most recently his work as Assistant to the Bank’s General Manager for Microfinance, in addition to his membership in a number of committees and councils .