Adel Al-Majed: Upmarket focus will push Boubyan Bank up Kuwait rankings
Adel Al-Majed, Chairman and Managing Director, Boubyan Bank
Adel Al-Majed’s 13 years of experience at National Bank of Kuwait were invaluable when the group gained control of Boubyan Bank, setting a clear new strategy and identifying the best people to fulfill its new mission. The new MD talks about the importance of the thriving Islamic segment, the balance sheet surgery Boubyan needed in 2009, and his ambitious goal to become the third-largest bank in Kuwait in five years.
Related by the tag Islamic Finance
Musa Shihadeh, CEO, Jordan Islamic Bank
Jordan Islamic Bank started in the early 1980s as a small bank with $3m in capital. Its growth since then has been impressive: it holds 8.3 percent of assets in Jordan’s banking sector, and has a return on shareholder equity of 16.74 percent, the highest in the country. CEO Musa Shihadeh outlines how this growth has gone hand-in-hand with a commitment to servicing the community, including financing energy opportunities for a country formerly reliant on Egypt for its petrol.
March 22, 2013 Category: Banking
Derya Gürerk, CEO, Türkiye Finans Katılım Bankası
Participation banking assets have grown twice as fast as Turkey’s overall banking sector during the last 10 years and now represent five percent of the industry. Derya Gürerk of Türkiye Finans believes this growth is sustainable if the required capital is brought in. He discusses the bank’s excellent performance last year, including a 25 percent increase in productivity and 22 percent increase in profits, its investment in infrastructure and developing entrepreneurial skills, and its recently issued Sukuks.
February 25, 2013 Category: Banking
Musa Shihadeh, CEO, Jordan Islamic Bank
Jordan Islamic Bank has been serving its local community for nearly 35 years, developing strong trust among its SME clients and retail banking customers thanks to its conservative approach and long-standing commitment to Sharia rules. Musa Shihadeh discusses the importance of supporting local businesses and the potential for Sukuk trading on the Oman Stock Exchange.
June 25, 2012 Category: BankingRelated by the tag Kuwait
Sulaiman Al-Qimlas, CEO, Bayt Al Mal Investment
Kuwait is the world’s 10th largest oil exporter, and has been enjoying the windfall of rising oil prices. But a lot of this growth is being reinvested in the oil sector, leaving Kuwait’s other industries undeveloped and its economy unbalanced. Sulaiman Al-Qimlas reveals the other sectors currently attracting outside investment, thanks to Kuwait’s $120bn five year development plan; and explains Bayt Al Mal Investment’s new focus on Awqaf, the Islamic equivalent of endowment.
September 17, 2012 Category: Banking
Mark Schmitz and George Lambros, Alghanim Industries
Alghanim Industries is a cross-sector, $2bn turnover business, operating across some of the world’s highest-growth geographies: from south-east Asia, through Vietnam and India, to the Middle East and Turkey. Mark and George explain why a company’s governance journey must start with the “tone at the top” – and how Alghanim’s excellent standards and controls have helped it expand three-fold in 10 years.
April 20, 2012 Category: ESG
Elham Mahfouz, Acting CEO, Commercial Bank of Kuwait
Commercial Bank of Kuwait has been driving the implementation of banking technology since its birth in 1960 – it was the first to implement ATMs, and recently upgraded its technological core. Elham Mahfouz discusses how CBK’s business has evolved since the financial crisis, and its commitment to remain a local bank: supporting local businesses while facilitating international investment.
March 9, 2012 Category: Banking