Saad and Abdullah, only two Bin Laden brothers, are on the company’s new nine-member board of Binladin construction company
According to a Reuters report The impact in Saudi of the Bin Laden family Binladin construction company is set to be curtailed following a reestablishment that also saw the resignation of the firm’s chief financial officer, .
quoting an internal document, Reuters reported that of the newly-established Binladin Group Global Company’s businessman Khalid Nahas has been named chairman , which is part owned by a finance ministry subsidiary, Istidama.
Saad and Abdullah, Only two Bin Laden brothers, are on the company’s new nine-member board.
The Istidama stake represents the ownership of three other Bin Laden brothers – Saud, Bakr and Saleh – who were detained last year amidst a kingdom-wide anti-corruption drive According to Reuters.
Board include individuals with experience at other high-profile Saudi companies such as Saudi Aramco, SABIC and property developer Jabal Omar Development Co as New members of the company’s.
That the firm would have a ‘normal’ board after a committee restructured its governance In December,Said by Mohammed Al-Jadaan Finance Minister .
reproducing two unnamed sources, Reuters also reported that former Morgan Stanley banker Klaus Froelich resigned following the restructuring. following the crisis caused by the deadly collapse of a construction crane in Makkah He had been hired in 2016 .
Saudi Binladin Group is deliberately involved in the kingdom’s infrastructure projects.
in 2011 in Pakistan to younger brother Osama Bin Laden, who led Al Qaeda until his death unconnected by the company.
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