STC Bank, the Saudi Arabian digital banking unit of telecommunications group STC, has appointed Mohammed Al-Fraih as its Chief Executive Officer. Al-Fraih had been serving in the role on an acting basis since August 2025.
Nizar Altwaijri stepped down from the CEO position in July 2025 to move into an advisory role. Following Altwaijri's departure, Al-Fraih was elevated to Acting CEO in August after serving as Deputy CEO.
AL-FRAIH'S CAREER AT STC BANK
Mohammed Al-Fraih joined STC Bank in 2024 as Chief Operating Officer. He was promoted to Deputy CEO six months after joining, before assuming the Acting CEO role in August 2025.
STC Bank operates as a fully licensed digital bank under the framework established by the Saudi Central Bank (SAMA).