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Damanat, Contributing to a Brighter Housing Future

Damanat

The Saudi Mortgage Guarantees Services Company “Damanat”

“Damanat” was launched in 2017 as an initiative by the Housing Program in the Kingdom of Saudi Arabia. Continuing its efforts in supporting the program’s objectives, Damanat has become an independent institutional entity that provides innovative products and solutions in mortgage guarantee services.

The core mission of Damanat is to empower Saudi citizens by providing tailored mortgage guarantees, designed specifically to expand the accessibility and inclusiveness of the mortgage market, thereby facilitating homeownership. Damanat operates within the housing ecosystem and aligns with the Kingdom’s objective of increasing homeownership by 2030. Additionally, it aims to support the real estate development sector by creating new housing projects and providing fair and comprehensive mortgage financing options for beneficiaries, thus bridging the gap between supply and demand in the housing real estate sector and contributing to societal stability.

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Vision

Damanat as a strong and recognized institution, ensuring Saudi Housing Ecosystem financial strength, stability and trust by financial institution, investors, buyers and real estate market

Mission

To efficiently de-risk the housing financial system by designing and offering guarantees and insurance products, unlocking liquidity, strengthening financial market confidence, and fostering access to affordable lending while ensuring financial sustainability

Ambition

To enable all Saudi households to realize home ownership, de-risking the Housing Ecosystem financial system and supporting Real Estate Market while ensuring sustainability

CEO Message

As part of the Kingdom’s efforts to achieve the objectives of Saudi Vision 2030 and the Housing Program, the Saudi Mortgage Guarantees Services Company “Damanat” plays a key national role in supporting sustainable homeownership and enhancing the efficiency and sustainability of the Kingdom’s housing finance ecosystem.

Saudi Arabia’s housing and mortgage finance sectors have undergone significant transformation in recent years. As the market continues to evolve, so do the needs of beneficiaries, financial institutions, and the broader housing ecosystem. This is where, Damanat’s role comes in: developing innovative risk-sharing and risk management solutions that help broaden access to housing finance and strengthen the financial sector’s capacity to finance housing on a sustainable basis.

We work in partnership with government and regulatory entities, banks and finance companies, insurance companies, real estate developers, and secondary market institutions, in the belief that achieving sustainable national impact requires an integrated ecosystem in which stakeholders share risks and opportunities, work collectively to improve capital efficiency and liquidity, and strengthen confidence in the market.

As we move into the next phase, we look forward to expanding Damanat’s role through the development of guarantee, insurance, and protection solutions, enhancing capital efficiency and liquidity, and supporting the continued development of the mortgage finance market. Through these efforts, we aim to create sustainable value for beneficiaries, our partners, and the ecosystem as a whole.

Our ambition extends beyond providing guarantee products. We are working to build a more efficient national infrastructure for managing housing finance risk, enabling the financial sector to serve a greater number of Saudi families and contributing to a more sustainable and resilient housing market for generations to come.

Waleed Al-Nazhan

CEO

Get to Know Our Team Members

Board Directors

Eng. Loaye Al-Nahedh
Chairman of the Board of Directors
Mr. Hani Almedaini
Deputy Chairman of the Board of Directors
Mr. Hashem Alhekail
Member of the Board of Directors
Mr. Faisal Alsaggaf
Member of the Board of Directors
Dr. Yasser Gado
Member of the Board of Directors
Mr. Khalid Shareef
Member of the Board of Directors

Executive Management

Waleed Al-Nazhan
Chief Executive Officer (CEO)
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Amer Al-Hashemi
Chief Financial Officer (CFO)
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Ehab Al-Dabbagh
Chief Business Development Officer (CBDO)
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Thamer Youssef
Chief Operating Officer (COO)
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Yousef Al-Farsi
Chief Human Resources and Administrative Officer (CHRO)
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Abdulrahman Al-Shammari
Chief Compliance Officer (CCO)
About Me
Rowaid Ajaj
Chief Risk Officer (CRO)
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Thamer Youssef
Chief Operating Officer (COO)
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Eng. Abdullah Muidh Alghamdi
Chief Operating Officer (COO)
About Me
Syed Muhammed Imran Haider

Chief Actuarial and Technical Affairs Officer
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Thamer Youssef
Chief Operating Officer (COO)
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Yousef Al-Farsi
Chief Human Resources and Administrative Officer (CHRO)
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Abdulrahman Al-Shammari
Chief Compliance Officer (CCO)
About Me
Rowaid Ajaj
Chief Risk Officer (CRO)
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Eng. Abdullah Muidh Alghamdi
Chief Operating Officer (COO)
About Me
Syed Muhammed Imran Haider

Chief Actuarial and Technical Affairs Officer
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Our Values

Our commitment to our values is the key to our success

Damanat prides itself on a set of values that guide our work with our partners, customers, and stakeholders. Those are:

Innovation

We develop new solutions that keep pace with the aspirations of the housing market and meet citizens’ needs.

Transparency

We are committed to transparency and integrity in all aspects of our work

Collaboration

We work with our partners in the housing ecosystem to enhance integration and achieve national impact.

Our commitment to these values helps us achieve our mission to provide innovative solutions within the housing system and facilitate ownership by supporting individuals and companies.

Alignment with Vision 2030

The launch of “Damanat” is one of the key initiatives within the Housing Program, reflecting a practical commitment to supporting the objectives of Saudi Vision 2030, particularly the goal of increasing homeownership among citizens, by enabling Saudi families to access effective financing solutions to own suitable housing.

Board Directors

Get to know the board Directors of Damanat

Mansour bin Said bin Madi
Chairman of Board of Directors
Hani bin Medina Medina
Deputy Chairman of the Board of Directors
Khalid bin Ibrahim Shareef
Member of the Board of Directors
Hashem bin Othman Al-Haqeel
Member of the Board of Directors
Faisal bin Omar Al-Saqqaf
Member of the Board of Directors

Eng. Abdullah bin Muidh Al-Ghamdi

Chief Operating Officer

Experience:

He has over 15 years of leadership experience in operations, digital transformation, IT, data, and governance across the financial and insurance sectors.

Key Previous Roles:

He served as Head of Information Technology at Damanat and Arabian Shield, managed business analysis, and led the technology integration for the mergers of Al Ahli Takaful and Alinma Tokio Marine with Arabian Shield.

Current Role at Damanat:

He leads the Operations sector with executive responsibility spanning IT, data, business services, claims and compensation, in addition to developing digital transformation initiatives and leveraging AI to improve operations and decision-making.

Education and Qualifications:

He holds a Master’s degree in Computer Science and Information from Ball State and a Bachelor’s degree in Information Technology from Al Baha University, both with honors. He completed the Harvard Program and holds PMP, CISA, CDMP, and COBIT, and received World CIO, IDC CIO50, and DT100.

Syed Muhammed Imran Haider

Chief Actuarial and Technical Officer

Experience:

He has 17 years of experience in actuarial and technical fields across insurance, guarantees, and consulting sectors.

Key Previous Roles:

Before joining Dhamanat, he served as Chief Actuary at the Real Estate Development Fund (REDF) and was part of the founding team of Dhamanat. He has also held several senior leadership positions, including Director of Actuarial Management and Head of Actuarial Function, as well as Chief Technical Officer for Medical and Life Insurance at MetLife AIG ANB Cooperative Insurance. Earlier in his career, he held various actuarial and consulting roles at KPMG Thailand and MetLife Alico Pakistan.

Current Role at Damanat:

At Dhamanat, he leads the Actuarial and Technical Affairs department, which includes pricing, reserving, capital management, risk management, and technical responsibilities in general.

Education and Qualifications:

He holds Fellow designation from both the Society of Actuaries (USA) and the Institute and Faculty of Actuaries (UK), and is a Chartered Enterprise Risk Actuary (CERA).

Abdulrahman Al-Shammari

Chief Compliance Officer

Experience:

Extensive experience in governance, risk management, compliance, and board affairs.

Key Previous Roles:

Held the position of Chief Governance, Risk, and Compliance Officer and Secretary-General of the Board of Directors at Asir Investment Company, overseeing the establishment of corporate governance, risk management, and compliance functions. Also held leadership positions at the General Entertainment Authority, Ministry of Culture, and the National Housing Company, specifically in governance, compliance, and board affairs.


Current Role at Damanat:

Oversees compliance to ensure organizational adherence to all relevant laws, regulations, and policies.


Education and Qualifications:

Holds a Master’s degree in Business Administration from Flinders University, Australia, and a Bachelor’s degree in Finance from Indiana University, USA. Completed an Executive Development Program at Columbia University.

Amer Al-Hashemi

Chief Financial Officer

Experience:

More than 16 years of experience in finance and investment in real estate development, hospitality, and energy sectors.

Key Previous Roles:

He held significant roles, including Chief Financial Officer at Asir Investment Company, a subsidiary of the Public Investment Fund; Financial Director at Abu Dhabi Future Energy Company in Saudi Arabia (a subsidiary of Mubadala Investment Company); and Financial Director at ACWA Power International, along with memberships on several boards.


Current Role at Damanat:

Oversees the financial affairs of the company.


Education and Qualifications:

He holds a Master’s degree in Accounting from Victoria University in Australia, a Bachelor’s degree in International Business Administration, a diploma in Finance and Accounting from King’s College, and a Certified Financial Manager (CFM) designation.

Ehab Al-Dabbagh

Chief Business Development Officer

Experience:

30+ years of experience in banking, private equity and real estate development.

Key Previous Roles:

He served as a Senior Advisor in the Housing Program and CEO of Ajmal in Residential Development Investments and led leadership positions at Saudi Hollandi Bank. An active member of the Board of Directors of several companies, he provides strategic insights and expertise in governance, executive leadership, strategy execution and business development.


Current Role at Damanat:

Lead and develop growth strategies and enhance business opportunities to increase market value and achieve long-term goals.


Education and Qualifications:

He holds a Bachelor’s degree in Marketing from King Fahd University of Petroleum and Minerals and a PRINCE2 Practitioner Certificate.

Yousef Al-Farsi

Chief Human Resources & Administration Officer

Experience:

He has experience in human resources and administrative affairs.

Key Previous Roles:

He served as the Head of Human Resources at Dawarat contributing to the building of HR strategy, policies and governance, and led the Human Capital Transformation Program at the Real Estate Development Fund. His career is characterized by successful transformation projects, strategic planning, and improvement of organizational performance through innovative HR strategies and effective management management.


Current Role at Damanat:

Supervises human resources and administrative affairs.


Education and Qualifications:

He holds an MBA, a Bachelor of Industrial Management, and executive certifications from prestigious universities such as Harvard Business School and London Business School.

Thamer Yousef

Chief Operating Officer

Experience:

Over 28 years of experience in the banking sector.

Key Previous Roles:

He has held key positions including Chief Operating Officer and Chief Technology Officer at Banque Saudi Fransi, and Chief Technology Officer at Alawwal Bank, He is the Executive Director of Technical Support at the Saudi British Bank and the Saudi American Bank, in addition to chairing a number of boards of directors and participating in memberships.


Current Role at Damanat:

Supervises the day-to-day operations of the company.


Education and Qualifications:

He holds a Bachelor’s degree in Computer Engineering from King Saud University and an Executive Program from INSEAD.

Waleed Al-Nazhan

Chief Executive Officer

Experience:

Mr. Waleed Al-Nazhan has over 24 years of experience in the financial, banking, and real estate financing sectors.

Key Previous Roles:

He has held several leadership roles within prominent national entities. Most notably, he served as Deputy Head of the Financing Solutions Group at the Real Estate Development Fund. He also held senior leadership positions at several Saudi banks, including Saudi Hollandi Bank and Alawwal Bank, where he served as Assistant General Manager and Head of Retail Banking Products and Segments, as well as Assistant General Manager and Regional Head of Branch Banking in the Eastern Province.

He is the Vice Chairman of the Board of Directors of Rowad Al-Tahawul wal Tatweer. In addition, he chairs the Financial Resources Development and Investment Committee at the National Developmental Housing Foundation (Sakan). He is also a member of the Executive Committee of The Saudi Mortgage Guarantees Services Company
“Damanat” and previously served as a member of the Nominations and Remunerations Committee.


Education and Qualifications:

Mr. Waleed holds a Bachelor’s degree in Business Administration from King Faisal University. He has completed advanced executive leadership programs at Harvard University and the University of Virginia (Darden School of Business). He also possesses extensive expertise in digital transformation, asset management, and building public-private partnerships.

Mr. Rowaid Ajaj

Chief Risk Officer

Experience:

Over 17 years of experience in risk management at several regulatory entities, including the Saudi Central Bank, the National Cybersecurity Authority, and the Insurance Authority in the Kingdom of Saudi Arabia. He has extensive experience in credit risks, individual and corporate financing, audit, compliance, governance, fraud risks, and business continuity Former Head of Real Estate Financing Risk at the National Commercial Bank (NCB), Chief Risk Officer at Deutsche Gulf Finance, and Secretary of the Risk Management Committee..

Key Previous Roles:

Former Head of Real Estate Financing Risk at the National Commercial Bank (NCB)

Chief Risk Officer at Deutsche Gulf Finance, and Secretary of the Risk Management Committee.


Current Role at Damanat:

Chief Risk Officer, Secretary of the Risk Management Committee Secretary of the Investment Committee.


Education and Qualifications:

Holds a Master’s degree in Business Administration a Bachelor’s degree in Engineering from a university in the United Kingdom as well as a professional diploma in anti-fraud and financial crimes.