Hussein Shobokshi, a renowned Saudi businessman and economic consultant, is appointed as the new chairman of NAEEM Holding effective June 30th 2016. Decision comes as part of NAEEM’s plan to widen its operations in the Gulf as well as steering Gulf investments in Egypt.
Shobokshi is a Saudi businessman involved in diversified business. He is also an economic consultant for many large Gulf companies and is a Board Member of Shobokshi Development & Trading Company, Okaz Organization for Press & Publication, Aseer Company. Shobokshi is also a columnist and writer for Asharq Al Awsat, the leading Arabic daily newspaper in the Middle East. In 1995, he was chosen as one of “Global Leaders for Tomorrow” at the World Economic Forum. He was the first Saudi and Gulf businessman to be chosen in the Prince of Wales Business Leaders Forum. He has given and continues to give lectures in the Middle East, Europe and the U.S.
Commenting on the appointment, NAEEM Holding CEO Youssef el Far, “NAEEM has been going through a restructuring program during the last 18 months, we have disclosed potential acquisitions and developments such as Altawfeek (in due diligence phase), acquiring an additional stake in smart villages company, market maker license, establishing a new firm in UAE with AED 100 million in capital among others. Hussein Shobokshi’s regional experience will serve to widen NAEEM’s presence in the gulf and augment the potential of NAEEM’s regional operations”