The Fiji Development Bank (FDB) board has appointed Saud Minam as chief executive officer (CEO) effectively from July 16, 2021.
According to a statement from the bank, Mr Minam brings over 25 years of local and international banking, as well as senior leadership, experience to the FDB.
FDB Board chairman Andre Viljoen said Mr Minam’s wide-ranging experience in commercial and consumer banking, along with his accomplishments in various roles in Fiji and developing economies, made him the successful candidate for the CEO role.
“The board was looking for an experienced leader who would be able to balance FDB’s dual responsibilities of strong micro, small, medium enterprises (MSME) sector development and sustainable financial growth,” he said.
“It is in the national interest to meet MSME growth objectives, particularly at the present time where the COVID-19 pandemic has negatively impacted our development sectors.
“Saud’s strong leadership skills and commitment to innovation will be key towards the recovery of the agriculture, manufacturing, professional services and other sectors through development finance and access to capital.”
He added an immediate priority for Saud Minam and the FDB team would be to continue supporting the bank’s 3753 MSME clients through the current COVID-19 pandemic-induced challenges.
“They will also focus on growing the customer base to bring more MSMEs under our financing portfolio, thereby contributing to the country’s economic recovery, especially in non-urban areas.
“This means implementing initiatives to streamline the credit approval process, generate new revenue streams and build a brand framework to increase community-based banking.”
Attorney-General and Minister for Economy Aiyaz Sayed-Khaiyum said Mr Minam was an excellent choice, given his reputation as a commercial banker and his knowledge of the Fijian market.
“FDB will greatly benefit from his strong leadership and deep engagement approach with its current and new customers to develop various economic segments,” he said.
“The Government’s plans to strengthen 100 per cent Fijian-owned financial institutions, such as FDB, requires strong and smart leadership, especially in the adoption of technology and a flexible, modern approach to financing.
“Combining this with a deep commitment to fulfilling customer needs will complement government policy to revitalise our various businesses, including those in the agricultural sector.
“Saud’s vast international commercial banking experience and an understanding of the Fijian financial and economic sectors, under the guidance of a very capable chair, will put FDB on a far better footing, including with our development partners.”
Mr Minam was stated to have held leadership roles at the ANZ Bank Fiji, Pacific and Indonesia, ABN AMRO/Royal Bank of Scotland and the Citibank, including in the CEO position.
He is chairman of the Young Entrepreneurs Scheme (YES), president of the Institute of Bankers in Fiji and a member of the Fiji Australia Business Council.
