<Abdulkarim Al-Nafea has started his duties as Director General of the Industrial Development Fund (IDF), following his appointment decision issued by the Board of Directors of the Fund, chaired by the Minister of Commerce and Industry Dr. Tawfiq Al-Rabeeah. He has more than 30 years of experience in the public and private industrial sectors, during which he held many supervisory and leadership positions, including twenty-one years in the Industrial Fund, in addition to his membership in a number of boards of directors of some institutions and companies. He holds a bachelor's degree in management and accounting from the United States, and holds a credit program certificate from Chase Manhattan Bank in New York, in addition to many specialized training courses in a number of banks, universities and international institutes.2

Al-Nafea has been a member of the Industrial Development Fund for more than 30 years. It is worth mentioning that the Industrial Development Fund is one of the government financing institutions to provide medium and long-term loans for industrial sector projects. Since its establishment, it has received wide attention and support from the government of the Custodian of the Two Holy Mosques by raising its capital on several occasions from SR 500 million to SR 40 billion, in addition to approving a series of lending incentives that encourage investors in the industrial sector, including raising the financing ratio and extending the repayment period of loans for projects established in promising regions and cities.

It is worth mentioning that the Industrial Development Fund is one of the government financing institutions to provide medium and long-term loans for industrial sector projects, in addition to the approval of a series of incentives that encourage lending incentives to investors in the industrial sector.