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|14 April, 2019

Burgan Bank appoints Group Chief Executive Officer

Masaud Mahmoud Haji Jawhar Hayat as a Group Chief Executive Officer as of April 11, 2019.

Burgan Bank appoints Group Chief Executive Officer

Kuwait: Burgan Bank is pleased to announce the appointment of Mr. Masaud Mahmoud Haji Jawhar Hayat as a Group Chief Executive Officer after obtaining the approval of the Central Bank of Kuwait and the Board of Directors as of April 11, 2019. This move is a positive step towards facilitating the continuous development of Burgan Bank as one of the pioneering banks in Kuwait, the Middle East, and North Africa.

Mr. Masoud has a proven track record in banking, commercial and investment industries and asset management in the region. He has a backing of over 44 years of local and international expertise in executive, leadership, and supervisory positions in financial and banking institutions as well as investment companies. Mr. Hayat has held key positions in the KIPCO Group since 1997, where he was recognized for his expertise and multidimensional skills.

Mr. Hayat - Chief Executive Officer of the Burgan Bank Group said, ”I am honored to be handed the most important role of leading such a dynamic brand into the next era of growth through a clear, effective vision and strategy. I am confident of the suitable cadres and field qualifications of our teams and look forward to reaching new heights in the group with advanced local and regional banking knowledge.”

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Mr. Hayat holds a BA degree in Economics from Kuwait University and a General Diploma in Banking Sciences from the Institute of Banking Studies in Kuwait. He also studied at the International Institute for Management Development in Geneva, Wharton School of the University of Pennsylvania, and John F. Kennedy School of Government at Harvard University where he studied the Executive Management Program.

-Ends-

About Burgan Bank 

Established in 1977, Burgan Bank is the youngest commercial Bank and second largest by assets in Kuwait, with a significant focus on the corporate and financial institutions sectors, as well as having a growing retail, and private bank customer base. Burgan Bank has majority owned subsidiaries in the MENAT region supported by one of the largest regional branch networks which include Gulf Bank Algeria - AGB (Algeria), Bank of Baghdad - BOB (Iraq & Lebanon),Tunis International BankTIB (Tunisia), and fully owned Burgan Bank – Turkey, (collectively known as the “Burgan Bank Group”). Furthermore, Burgan Bank has a present in the UAE through its corporate office (“Burgan Financial Services Limited) which had helped the bank to participate in multiple financing opportunities in the UAE.

The Bank has continuously improved its performance over the years through an expanded revenue structure, diversified funding sources, and a strong capital base. The adoption of state-of-the-art services and technology has positioned it as a trendsetter in the domestic market and within the MENA region. Burgan Bank’s brand has been created on a foundation of real values – of trust, commitment, excellence, and progression, to remind us of the high standards to which we aspire. ‘People come first’ is the foundation on which its products and services are developed. 

The bank was re-certified with the prestigious ISO 9001:2015, making it the one of the few banks in the GCC and Kuwait to receive such certification for the Fifth consecutive time. The Bank also has to its credit the distinction of being the only Bank in Kuwait to have won the JP Morgan Chase Quality Recognition Award for twelve consecutive years.

Burgan Bank, a subsidiary of KIPCO (Kuwait Projects Company), is a strongly positioned regional Bank in the MENA region.

© Press Release 2019

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