Abdulwahab Al-Rashoud..Professional Management | alnahar newspaper

Written by: Basem Rashad

Veteran banker Abdulwahab Issa Al-Rashoud, CEO of the Kuwait Finance House Group “KFH” who was assigned, wrote his name in letters of light on the walls of banking and investment performance in the country.Al-Aman is one of the highest qualified, competent and professional personalities. Abdul Wahab Al-Rashoud has a real vision for the future and he loves the difficult. He insists on achieving successive successes through this, and he follows a leading economic approach that he carefully draws. Its foundations are based on creativity and development .. He contributes an investment idea in the management of the bank .. to contribute to the harvest KFH has received more international awards, the latest of which was from Euromoney, a leading international group in the world of business and finance, by winning two awards for Best Bank in Kuwait and Best in Islamic Finance.
The board of directors of the Kuwait Finance House has appointed Abdul-Wahab Al-Rashoud as the designated CEO, in addition to his work as the Group’s head of treasury, who succeeded Saud Al-Kharji, who was also appointed by appointment after the departure of the former CEO Mazen Saad Al-Nahedh last May.
Al-Rashood is considered one of the highly qualified Kuwaiti bank staff, exceeding 32 years, and before being assigned the duties of the CEO, he has held the duties of head of treasury at the Kuwait Finance House since 2015. He also worked at Gulf Bank between 1988 and 2002, and after moving to Kuwait Finance House, he held leadership positions in the group’s subsidiaries from the board of directors of Kuwait Finance House – Malaysia between 2007 -2013, and the “Liquidity Management Center” “in Bahrain between 2006-2016, and he has been the group’s treasurer in the same company since 2015.
Al-Rashoud was also Chairman of the Board of “KFH Capital Investment Company” from 2013-2015 and a member of the Board of Directors of “ALAFCO Company for Financing Aircraft Purchase and Leasing Company”, “Kuwait Finance House Company Bahrain, Liquidity House” Company 2008-2013, and Development Projects Company 2014-2016 ”.
Al-Rashood earned a Bachelor’s degree in Computer Science and Mathematics in 1987 from “Western Oregon University” in the United States, and an Executive Training Program Certificate in Strategic Management and Performance Achievement from “Harvard Business School.”
Abdulwahab Al-Rashoud ranks 40th on the annual Forbes Middle East list of “The most powerful CEOs in the Middle East 2021” and fourth in Kuwait.
Al-Rashoud believes that the awards recently received by the bank are added to the range of awards and honors previously received by the bank, and this is a recognition of the prestigious position that KFH has achieved at local and global level. , especially that KFH has a long record of achievements and successes in the Islamic finance industry. In addition to the high efficiency that enabled him to play a prominent role in the development of the sukuk market, emphasizing that achieving these estimates and winning international awards would not have happened without the confidence of the bank shareholders and customers, in addition to the dedicated efforts of its cadres and their efficiency.
Al-Rashoud stressed that KFH is using all its capabilities to develop innovation in the Islamic financial industry, positively impact the markets in which it operates and strengthen economies, which is reflected in its recent shift to supporting sustainability through green sukuk issues.
Al-Rashoud has been with Kuwait Finance House for about 19 years and currently oversees a workforce of about 15,000 people. In 2021, under his leadership, the Finance House’s total assets increased by 1.3 percent to 21.8 billion dinars, an increase of 286 million compared to last year, in addition, depositors’ accounts had 15.9 billion dinars amounted to an increase of 550 million dinars, or 3.6 percent compared to the year 2020. The bank also made a net profit attributable to shareholders of 243.4 million dinars for the year 2021, an increase of 64, 0 percent compared to 2020, and total operating income for the year 2021 amounted to 811.0 million dinars, reflecting an increase of about 1.9 percent compared to last year. He added that the balance of financing receivables by 5.7 percent increased to reach 11.4 billion dinars, an increase of 608 million dinars compared to 2020.
Al-Rashoud believes that the positive financial results for the year 2021 have confirmed the success of KFH in achieving its strategic goals related to the sustainability of profits, and its ability to handle challenges with high professionalism, indicating that the bank has taken proactive steps to deal with the conditions imposed by the epidemic, whether in terms of services, products or human resources. .
Al-Rashoud succeeded in implementing the strategy set by the Board of Directors of “KFH” to rank first among Kuwaiti banks and all companies listed on the Kuwaiti Stock Exchange with a market value of more than 9 billion dinars, and to occupy the capital. adequacy ratio for “KFH” has reached about 17.77%, i.e. more than This is one of the minimum required by the supervisory authorities, as this percentage confirms the health of the financial position of KFH.
Profits for the first quarter of 2022 reached 69.5 million dinars, a growth rate of 39%, proof of the success of leadership in the executive leadership of KFH, and a new confirmation of the success of the sustainability strategy to achieved, indicating that it is an extension of the strong gains made in 2021 and the maintenance of clear rates. In terms of return on assets, maximizing profitability, improving asset quality indicators, bad debt coverage rates from provisions and various key financial indicators.
He said KFH was continuing its efforts to maximize profitability and return on equity, improve asset quality, manage costs and develop policies to grant credit to all KFH subsidiaries in Turkey, Bahrain, Malaysia and Germany, and added: “We are working to increase investment in green sukuk, diversify the financing portfolio and continue Focus on core banking business.
And he indicated that the bank has achieved positive results in all major financial indicators, and maintained good ratios in terms of cost to income, irregular financing, debt coverage rates from provisions, and various financial indicators, and KFH has managed to provide capital support for the group to maintain. , and improving the quality of assets through a strong business model, disciplined implementation of plans and strategies, maintained strong liquidity and strong operating performance and achieved growth in the financing portfolio for the retail and corporate sectors, in addition to increasing customer deposits.
He pointed out that KFH is moving forward in its development role and supporting government initiatives by providing a wide range of banking and financing solutions to individuals and companies, as well as the small and medium-sized companies sector.
Based on his long experience, Al-Rushoud expects the technology industries to have a positive outlook for entrepreneurs and entrepreneurs in the short and long term. Therefore, entrepreneurs must be patient and keep pace with changes, in addition to sound cash flow management, capital gathering, good marketing and communication strategies, and learning from competitors Important qualities that pioneers must possess. And clear visions with an awareness of the importance of perseverance, initiative and positive response to change, and to have faith and confidence in themselves.
He advises entrepreneurs with a set of key tips, including being the “best choice” for their clients, protecting assets, ensuring smart financing with the appropriate budget, in addition to considering digital transformation through innovation, readiness and the ability to moving fast, indicating that KFH is regarded as The first bank in Kuwait to dedicate a finance division to the SME sector.
Justice believes that happiness has many concepts that differ from one person to another, and I believe in the wisdom that says: The happiness of the rich is to give and the happiness of the poor is in contentment.Therefore, giving is not necessarily does not apply; A good intercession is a gift, a kind word is a gift and a smile is a gift.
Al-Rushud sees that money is the decoration of worldly life and its arrangement comes before children, and it is important as a means to a happy life, but money is not necessarily the source of happiness as some believe, and the evidence for this is that there are some rich people who do not enjoy the blessing of happiness, and that the happiest times for him are Between family and relatives, especially since work takes up a large part of my time, and working time a main reason for my happiness, especially if we achieve success and achieve achievements, then I am at the top of happiness and self-confidence
Al-Rushud indicates that work and family are two parts that complement each other in a person.
And about his commandments and counsel to his children, he says: No one can lead others to the path of happiness.life, emphasizing that I do not interfere at all in my children’s school choices; Each of them is completely free to choose his specialization, and my job is to guide and support and support them to achieve success in what they love, but what I want to plant in them from an early age is satisfaction. , give and much to praise God.
Regarding retirement plans, Al-Rashoud said: I am thinking of getting involved in humanitarian work and social services, either personally or through charities, and leave it at the level of the neighborhood or the area in which I live, and that on land of my practical experience and my relationship with the community enables me to play an active role in the field of work. The humanist, “The indicative of good is as its doer.”

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