Basel Jassem Al Obeid appointed Chief Corporate Banking Officer, and Feroz Noorani, appointed Chief Risk Officer

Kuwait, 19 May, 2012: Warba Bank announced today the appointment of Basel Jassem Al Obeid as Chief Corporate Banking Officer, and Feroz Noorani as Chief Risk Officer, following the approval of the Central Bank of Kuwait. These strategic appointments at Warba Bank are with intent to bring experienced professionals and each of them will play key role in developing the Bank's business in line with the Bank's targets and strategic direction, aiming to provide the best banking services as per the international standards and in compliance with Islamic Sharia principles.

Al Obeid brings to Warba Bank over 25 years of experience, in which he previously held numerous positions that provided him with extensive experience in the Banking sector as a whole, and in particular focus on the Credit sector. Prior to joining Warba Bank, Al Obeid was Head of International Banking Credit at the Ahli United Bank (AUB). He also held the position of Assistant Managing Director of the Credit and Treasury Department at the Securities House Company (SHC). Furthermore, Al Obeid maintains strong relationships and contacts with several local, regional and international companies.

Noorani joins Warba Bank following a career spanning almost three decades in the GCC, Middle East and Indian banking sectors. He has held a number of senior positions in the Islamic, Commercial & Investment Banking and Risk Management. Noorani, before joining Warba Bank, headed the Risk Management & Compliance Group at Al Hilal Bank Group in Abu Dhabi, and was formerly the Head of Group Risk and Capital Strategy at Samba Financial Group in Saudi Arabia. During a distinguished career, he has received several prestigious awards for his work in financial services industry, and has been a prominent speaker at a number of high profile industry events. 

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About Warba Bank:
Warba Bank, an Islamic bank established by virtue of Amiri Decree, was officially registered in the Central Bank of Kuwait's list of Islamic banks on the 5th of April, 2010. The state of Kuwait, represented by Kuwait Investment Authority (KIA), owns 24% shares of the bank while the remaining 76% of shares, fully subscribed by the government, have been equally allocated among all Kuwaiti nationals. Warba Bank offers a range of customized Sharia-compliant services and solutions which are available through the banks three divisions of Retail, Investment and Corporate Banking. Branching out in four strategic locations, Warba Bank has over 150 employees.

For media information, please contact:
YOUSEF K. ALSHALLAL
Marketing & PR Manager
Tel:  +965 2 228 8800
Dir:  +965 2 228 8855
Fax: +965 2 228 8601
Email: Yousef.Alshallal@warbabank.com

Nadin Al Alami /  Stacy Lobo
ASDAA Burson Marstellar
Tel: 00965 22901571/ 2/ 3/ 4/ 5  
Fax: 00965 2290157
Email: n.alami@asdaa.com / s.lobo@asdaa.com

© Press Release 2012