RIYADH: Shares of Nayifat Finance co. rose following its announcement that it named Bandar Al-Baiz as CEO and managing director of the company following formal approval by its board, a bourse filing shows. Nayifat’s shares increased by 2.18 percent to reach SR23.44 ($6) at the end of Tuesday’s trading. The new CEO’s appointment follows the resignation of CEO Abdulmohsen Musaed Al-Sowailem in May and the appointment of Chan Kok Veng as its acting chief in June. The Islamic finance firm has also announced the appointment of Saleh Al Omair as a chairman and Abdulmohsen Al-Saleh as a vice chairman.