March 29, 2015
His Royal Highness Prince Salman bin Hamad Al-Khalifa, Deputy King, Crown Prince, Deputy Supreme Commander, First Deputy Prime Minister and Chairman of the Economic Development Board, has appointed Mr. Khalid Al Rumaihi as the new Chief Executive Officer of the Economic Development Board (EDB), effective from 1 March 2015.
HE Kamal bin Ahmed, Minister of Transportation and Telecommunications was appointed board member of the EDB.
Mr. Al Rumaihi will undertake leadership of the EDB’s management and the targets set by its Board of Directors. Mr. Al Rumaihi will also lead the EDB’s efforts to attract inward investment into Bahrain, with a focus on targeting economic sectors in which the Kingdom offers significant strengths.
HRH the Crown Prince met with HE Kamal bin Ahmed and Mr. Al Rumaihi at Gudaibiya Palace on the occasion of the appointment, highlighting the EDB’s role in supporting the Kingdom’s status in the region as an investment hub, as well as the EDB’s role in further developing economic sectors and fostering investment opportunities.
His Royal Highness noted that the forthcoming period will witness the launch of a new phase of important EDB initiatives and projects that further develop the national infrastructure and investment environment in the Kingdom.
His Royal Highness also commended the outstanding contribution made by His Excellency the Minister of Transportation and Telecommunications during his tenure as acting Chief Executive of the EDB. His Royal Highness went on to extend his best wishes to the new Chief Executive as he undertakes his new role.
For their part, HE Kamal bin Ahmed Mohammed and Mr. Al Rumaihi expressed their appreciation and gratitude to His Royal Highness and stressed that they will continue their efforts to further support the EDB’s strategies.
Mr. Al Rumaihi previously spent more than 10 years at Investcorp as a Managing Director, a member of the Management Committee and Head of the Institutional Placement Team covering Investcorp’s clients in the Gulf. Before joining Investcorp, Mr. Al Rumaihi’s last 9 years were served at J.P. Morgan as head of J.P. Morgan’s private client group in the Gulf. He has held previous Board positions at Gulf Air and SICO.
He holds a Masters degree in Public Policy, specialising in Economic Development, from Harvard University, and a Bachelor of Science degree in Foreign Service from Georgetown University.