Ahli United Bank Kuwait: Best Bank Governance Kuwait 2018

Tareq Muhmood Senior DCEO Banking Group, Mai Al Saghir Board Secretary and Head of Corporate Governance, Richard Groves Chief Executive Officer

Tracing its corporate roots to 1941, Ahli United Bank Kuwait is the oldest financial services provider of the country, sustaining a rich legacy that keeps it at the forefront of the industry. A 100% locally owned bank since 1971, Ahli United Bank Kuwait in 2010 converted to Islamic banking – one of the first to do so. The bank maintains a Sharia board of four eminent Islamic scholars to ensure all its processes, products, and services comply with Islamic Law.

From its earliest beginnings, Ahli United Bank Kuwait has prioritised transparency and pursued excellence in corporate governance as the twin pillars that support its business, growth, and sustainability. Last year, the bank published a revised and thoroughly updated corporate governance manual that charts, delineates, and guides all aspects of its operations. Performance is gauged by qualified and certified teams supporting the corporate governance and compliance functions.

The bank also maintains a number of staff training and skills development programmes that allows employees to keep abreast of the latest developments in the banking industry and be fully aware of the rules and regulations that govern their business.

Ahli United Bank Kuwait also recognises the importance of continuously engaging all stakeholders and keeps in close touch with regulatory entities to ensure compliance. The bank’s dedication to excellence in corporate governance pays off in superior operational performance with strong results across all key parameters. Ahli United Bank Kuwait consistently leads the industry in returns on both equity and assets.

The CFI.co judging panel notes that the bank is managed by veterans of the industry. The management team comprises banking professionals with thirty or more years of experience in finance. The judges declare Ahli United Bank Kuwait – a repeat winner – recipient of the 2018 Best Bank Governance Kuwait Award.