Qusai Al-Fakhri, CEO of the Saudi Tourism Development Fund

Qusai Al-Fakhri
Short Url
Updated 10 November 2020
Follow

Qusai Al-Fakhri, CEO of the Saudi Tourism Development Fund

Qusai Al-Fakhri has been CEO of the Saudi Tourism Development Fund since June 2020.

Al-Fakhri has more than 20 years’ experience in the banking, investment and real estate development sectors.

He received his bachelor’s degree in finance from King Fahd University of Petroleum and Minerals in 2000.

Before his role as CEO, Al-Fakhri served as an investment adviser to Tourism Minister Ahmed Al Khateeb from October 2019 to June 2020. He was also the co-founder of Tiraz Al-Arabia, a real estate development company in Riyadh. He worked there from January 2011 to October 2019 and was CEO of Al-Ajial Holding from February 2018 to September 2019.

Al-Fakhri was head of institutional coverage at Societe Generale Saudi Arabia from November 2010 to August 2014 and head of brokerage at Jadwa Investment from May 2006 to November 2010.

He also worked as vice president of capital markets at SHUAA Capital from 2005 to 2006. He was also the senior business development manager at Samba Financial Group from 1999 to 2005. Al-Fakhri was also an independent board member for a number of investment funds and joint-stock companies.

He recently said the fund aims to stimulate and facilitate investment in the tourism sector, adding that there were several projects under consideration.

Al-Fakhri said the launch of the Tourism Development Fund reflects the importance of the tourism industry as a long-term engine of the Kingdom’s economy.

He said that the fund provides tremendous opportunities for local and international investors to implement promising projects that will enhance and raise the level of tourism in Saudi Arabia.


Saudi leadership approves over SR3bn of Ramadan aid disbursement

Updated 18 March 2025
Follow

Saudi leadership approves over SR3bn of Ramadan aid disbursement

  • Initiative part of government’s efforts to improve quality of life, enhance standard of living

RIYADH: The Saudi leadership has approved the disbursement of over SR3 billion ($800 million) to social security beneficiaries as part of an aid initiative during the holy month of Ramadan.

Under the leadership of King Salman and Crown Prince Mohammed bin Salman, the scheme will address the needs of beneficiary families and fulfill their requirements during Ramadan, the Saudi Press Agency reported.

Over SR3 billion will be given as follows: each breadwinner will receive SR1,000, and each dependent in the household will receive SR500. The funds will be deposited directly into the bank accounts of the beneficiaries on Tuesday, March 18, the SPA said.

Saudi Minister of Human Resources and Social Development Ahmad bin Sulaiman Al-Rajhi expressed gratitude to the Saudi leadership for helping to provide citizens with a decent livelihood.

The initiative is part of the Saudi government’s efforts to improve the quality of life and enhance the standard of living for social security beneficiaries, especially during Ramadan, the SPA added.


Nearly 11m iftar meals served at Two Holy Mosques during first half of Ramadan

Updated 18 March 2025
Follow

Nearly 11m iftar meals served at Two Holy Mosques during first half of Ramadan

  • Number iftar meals provided during Ramadan to has increased this year due to growth in the number of Umrah pilgrims at Grand Mosque and Prophet’s Mosque, officials say

MAKKAH: Saudi authorities provided almost 11 million iftar meals to Umrah pilgrims and other worshippers at the Two Holy Mosques in Makkah and Madina during the first half of Ramadan.

The General Authority for the Affairs of the Grand Mosque and the Prophet’s Mosque said on Monday, the 17th day of Ramadan, it has provided 10,822,999 iftar meals and 10,290,000 packets of dates so far during the holy month, which is a time of worship for Muslims during which they fast from sunrise to sunset.

The authority said the number of iftar meals it provides during Ramadan to pilgrims performing Umrah, and other visitors to the mosques, has increased this year due to growth in the number of pilgrims, the Saudi Press Agency reported. The food is served in designated iftar areas at the mosques, in adherence with strict health standards to ensure the safety of worshippers, it added.

In the run-up to the holy month, the authority introduced an online service through which individuals, charitable organizations and endowments could submit requests to donate iftar meals at the Grand Mosque, the SPA added.


Palestinian, Egyptian envoys awarded with King Abdulaziz Sash of the Second Class

Palestinian and Egyptian ambassadors to Saudi Arabia are awarded with the King Abdulaziz Sash of the Second Class on Monday. SPA
Updated 17 March 2025
Follow

Palestinian, Egyptian envoys awarded with King Abdulaziz Sash of the Second Class

  • Basem Al-Agha and Ahmed Farouk Tawfiq were given the awards for their efforts to strengthen relations between their countries and the Kingdom

RIYADH: The Palestinian and Egyptian ambassadors to Saudi Arabia were awarded with the King Abdulaziz Sash of the Second Class on Monday. 

Basem Al-Agha and Ahmed Farouk Tawfiq were given the awards for their efforts to strengthen relations between their countries and the Kingdom, Saudi Press Agency reported.

Saudi Deputy Foreign Minister Waleed Al-Khuraiji awarded the sashes on the directive of King Salman, SPA added. 


Saudi Culinary Arts Academy receives full institutional accreditation

Updated 17 March 2025
Follow

Saudi Culinary Arts Academy receives full institutional accreditation

  • The accreditation follows an agreement signed on March 10 between the academy and the Education and Training Evaluation Commission

RIYADH: The Saudi Culinary Arts Academy (ZADC) was awarded a full institutional accreditation certificate on Sunday, with the support of Prince Saud bin Nayef bin Abdulaziz Al-Saud, Governor of the Eastern Province.

The recognition was granted during the inauguration ceremony of the academy’s new building on March 16.

The accreditation follows an agreement signed on March 10 between the academy and the Education and Training Evaluation Commission to implement institutional accreditation processes.

The achievement underscored ZADC’s commitment to maintaining the highest standards of quality and excellence in culinary education and training.

By equipping national talents with specialized skills, the academy aims to contribute to the growth of Saudi Arabia’s tourism and hospitality sector.

The achievement also aligns with the broader efforts of the Education and Training Evaluation Commission to ensure quality and excellence in education and training institutions across the Kingdom.


Saudi Foreign Ministry hosts Iftar reception for diplomats and international organizations

Updated 17 March 2025
Follow

Saudi Foreign Ministry hosts Iftar reception for diplomats and international organizations

  • Several senior ministry officials attended

RIYADH: Under the patronage of Saudi Foreign Minister Prince Faisal bin Farhan and in the presence of Deputy Foreign Minister Waleed Al-Khuraiji, the Foreign Ministry hosted a gathering of the heads of diplomatic missions, regional offices, and international organizations accredited to the Kingdom to mark the holy month of Ramadan.

The ministry hosted an iftar reception at its headquarters in Riyadh, and those attending, which included several senior ministry officials, exchanged Ramadan greetings and engaged in cordial discussions, enhancing communication with diplomatic missions in the Kingdom, the Saudi Press Agency reported.