Kuwait City, Kuwait – The Arab Fund for Economic and Social Development today announces that H.E. Mr. Fawzi Yousef AlHunaif assumed the role of Director General and Chairman of the Board of Directors, succeeding H.E. Bader Alsaad.

Mr. AlHunaif, whose appointment was approved during the Joint Annual Meetings of Arab Financial Institutions last April, brings over 40 years of leadership and expertise in development finance and international cooperation to the role.

"It is inspiring to see how the Arab Fund has evolved its approach to development over the past years, driven by a foundational strategy since its inception, and the tireless work of a its dedicated team," said Fawzi AlHunaif, the Arab Fund’s new Director General and Chairman of the Board of Directors. "I am thrilled to continue my passion for development work with the Arab Fund, focusing on strengthening our support for member countries."

It is worth mentioning that prior to his appointment, AlHunaif served as a board member at the Housing Bank for Trade and Finance (Jordan) where he also chaired the Audit Committee.  His extensive career includes pivotal roles at the Kuwait Fund for Arab Economic Development, where he served as Director of Operations (1997) and Head of the Arab Countries and Mediterranean Department (1986). He also served as Deputy Governor of the OPEC Fund for International Development in 1987.

Career Highlights & Experience

  • AlHunaif is a respected leader in post-conflict reconstruction and regional development, he contributed through governance and investment oversight with organizations such as the Gaza Reconstruction Program (Coordinating Committee Member, 2009–2015) and was a Board Member of the Arab Bank for Economic Development in Africa (2008–2015).
  • He also provided strategic oversight at the Islamic Development Bank’s Al-Aqsa Fund and Jerusalem Intifada committee (2009–2015) and guided international investment governance at the Kuwait Algerian Investment Company (Board Member, 1986). He also led strategic development finance initiatives as Chairman of the Real Estate Development Company (1997).
  • AlHunaif is a Kuwaiti national and holds a Bachelor of Economics from San Jose State University in California, USA (1980).

About the Arab Fund:

The Arab Fund for Economic and Social Development is a regional financial institution based in Kuwait, established in 1968 to support the economic and social development of Arab countries. Through loans, grants, and technical assistance, the Arab Fund finances infrastructure, education, health, water and sanitation and public service projects that contribute to sustainable development and regional cooperation across the Arab world.

For Media inquiries, please contact:
Mohamed Eissa, m.eissa@arabfund.org;  Joyce Haykal, j.haykal@arabfund.org