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Jeddah - Yasmine El Tohamy - Who’s Who: Yousef Al-Benyan, chairman of the board of directors of Saudi Small and Medium Enterprises Bank
Yousef Al-Benyan was recently appointed chairman of the board of directors of Saudi Arabia’s Small and Medium Enterprises Bank by Crown Prince Mohammed bin Salman.
Al-Benyan thanked the crown prince for the confidence he has shown in him, and for his continuing support of small and medium-sized businesses and efforts that help them to achieve financial stability.
He said the sector is an important pillar for economic development in the Kingdom and is helping to achieve the aims of the nation’s Vision 2030 development and diversification plan.
Al-Benyan is currently the Kingdom’s minister of education, appointed in September 2022 by a royal decree.
He previously served as vice chairman and CEO of Saudi Basic Industries Corp. since 2015.
He had a very successful journey at SABIC ever since he joined in 1987, starting as a business development specialist.
Al-Benyan was then relocated to Stamford, Connecticut, US, where he served as SABIC’s operations manager. In 1994, he became a commercial manager for SABIC, representing both North America and Latin America, while based in Houston, Texas.
In 2002, he was promoted to general manager of SABIC Asia, where he made significant contributions to SABIC’s growth in the Asian market, especially in China.
Al-Benyan returned to Houston in 2005 as the general manager of SABIC Americas and in 2008 would be called upon to head the corporate human resources.
In 2013, he was appointed head of SABIC’s chemicals business, the company’s largest unit.
Prior to being named vice chairman and CEO, Al-Benyan also served as chief financial officer and executive vice president of corporate finance.
Besides his role at SABIC, Al-Benyan held many other positions including chairman of the Gulf Petrochemicals and Chemicals Association, Yanbu National Petrochemical Co., the Saudi Arabian Fertilizer Co., Saudi Iron and Steel Co. and the Petrochemical Manufacturers Committee.
As a result of his successful career, Al-Benyan has been declared one of the most powerful CEOs in the Middle East according to Forbes Middle East.
He holds a bachelor’s degree in economics from Imam Mohammad bin Saud Islamic University in Riyadh. He also received a master’s degree in industrial management in 1996.
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