Balfaqeeh has served as a board member of the United Arab Bank since March 16, 2023, in the United Arab Emirates.

He held the position of Ambassador of the United Arab Emirates to Singapore between 2016 and 2020, non-resident Ambassador of the UAE to Papua New Guinea, advisor to the Chairman of the Board of Directors of the Abu Dhabi Department of Economic Development in 2015, undersecretary of the same entity, Director General of the Abu Dhabi Chamber of Commerce and Industry between 1997 and 2007, Assistant Director General of Human Resources at the National Bank of Abu Dhabi between 1993 and 1997, branch manager at the same bank between 1978 and 1989, and financial manager at the National Drilling Company between 1989 and 1993.

Balfaqeeh possesses experience working in the banking and human resources fields.

He holds a PhD from the University of Northampton in the United Kingdom and a Bachelor's degree in Sharia and Law from Kuwait University.