Kuwait Central Bank approves the appointment of Loay Maqams at Kuwait International Bank
Press release
Loay Fadhil Maqams, Executive Vice President and General Manager of Finance and Investment, Kuwait International Bank
Kuwait International Bank announced the official approval of Central Bank of Kuwait on appointing Loay Fadhil Maqams in the position of the bank's Executive Vice President and General Manager of Finance and Investment.
A statement issued by Kuwait International Bank stated that Mr. Maqams has the skills, the background and experience required for this position.
(KIB) also stressed its importance to attract competent individuals in national banking. This in turn will contribute to the achievements sought by (KIB) to become the leading modern Islam bank.
Mr. Maqams carries over 22 years of experience in Kuwait banking industry, he started his career in Kuwait's Gulf Bank as Credit Director in 1989 after graduating from the University of Kuwait, then moved to the Commercial Bank of Kuwait as Assistant General Director then General Manager.
The official announcement of Mr. Maqames was issued on September 15, 2011 as part of Kuwait International Bank’s aim to increase the productivity and profitability of Kuwait International Bank.
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Background Information
Kuwait International Bank
KIB a bank that operates according to the Islamic Shari’ah from 1st of July 2007, is a public quoted company. It was incorporated in 1973 and was originally known as the Kuwait Real Estate Bank.
As an Islamic bank, KIB’s business covers all banking services including Acceptance of Deposits, Financing Transactions, Direct Investment, Murabaha (auto, real estate and commodities), Ijara Muntahia Bittamleek (Lease-to-own) , Istisna’a, Tawarruq, Credit Cards, Wakala and other products. Corporate projects and finance, Treasury Services, Issuing Letters of Credit (L/Cs), Letter of Guarantee (L/Gs) and Real Estate Dealings and Management of Properties.
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