Announcement of Dar Al Majed Real Estate Company Regarding the Formation of the Audit Committee

Throughout his professional career, Dr. Al-Barrak has held several senior leadership positions, most notably Vice Chairman of the Capital Market Authority, Chairman of Thiqah Business Services Company, and Chairman of MEDGULF Insurance Company. In the area of audit committees, he chairs and serves on a number of committees, including Chairman of the Audit Committee at Elm Company, Chairman of the Audit Committee at BinDawood Holding Company, Chairman of the Audit and Risk Committee at Badael Company, and Chairman of the Audit Committee at the Zakat, Tax and Customs Authority.

Dr. Al-Barrak holds a PhD in Finance from Newcastle University, United Kingdom, a Master’s degree in Finance from the University of Colorado, USA, and a Bachelor’s degree in Accounting from King Faisal University. He has also participated in several advanced executive and leadership programs offered by globally renowned institutions, including Harvard University and Stanford University in the United States, and IMD in Switzerland.

He currently serves as Chief Executive Officer of Kafa’a Investment Company, where he leads strategic investment initiatives and oversees portfolio management, investment strategies, audit, and risk management functions. He previously served as a Board member of Dayul International Company and as Chairman of the Audit Committee at Umm Al Qura for Development and Construction Company (Masar). He also held several leadership positions at the General Organization for Social Insurance and worked as a financial advisor across various sectors.

He holds a Master’s degree in Risk Management from the University of New South Wales and a Bachelor’s degree in Commerce (Accounting and Finance) from the University of Sydney. He is also a Chartered Alternative Investment Analyst (CAIA).

He holds several international professional certifications, including Certified Internal Auditor (CIA), Certified Fraud Examiner (CFE), Certified Information Systems Auditor (CISA), and Certification in Risk Management Assurance (CRMA), in addition to Capital Market Authority certifications (CME-1, CME-2, CME-3). He previously worked with several entities and served on audit committees of various companies, with advanced expertise in building control and audit frameworks.

He has extensive experience in financial reporting, control, and budgeting within listed companies and serves on audit committees of several companies. He holds a Master of Business Administration from Murray State University and a Bachelor’s degree in Accounting from King Faisal University. He is also a Certified Management Accountant (CMA).