STC Bank has appointed Mohammed Al-Fraih as the Acting Chief Executive Officer, effective immediately.

Al-Fraih succeeds Nizar Altwaijri, who stepped down from the role in July 2025 to move into an advisory position. Altwaijri was appointed CEO in 2024, and prior to that, he served as CEO of stc Pay.

Sharing the news, Al-Fraih posted, “I’m happy to share that I’m starting a new position as Acting CEO at STC Bank!”

In his new role, Al-Fraih brings over 25 years of industry leadership experience. He joined STC Bank in 2024 as Chief Operating Officer and was appointed Deputy CEO six months later. Previously, he served stc Pay as COO, working alongside CEO Altwaijri.

Before joining STC, Al-Fraih worked with The Saudi Investment Bank as COO and GM of IT, Abdullah Al-Othaim Markets as VP of Information Technology, and Alfaisal University as Assistant VP of AFA & IT Director. Early in his career, he worked with the Saudi Arabian Monetary Agency and Alinma Bank.

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On the academic front, Al-Fraih holds a bachelor’s degree in Computer Science from King Saud University.