Kuwait: Kuwait International Bank (KIB) announced that its Board of Directors has appointed Feroz Noorani as the Bank’s new General Manager of Risk Management (Chief Risk Officer), following the approval of the Central Bank of Kuwait (CBK). In his new role, Noorani will oversee the Bank’s Risk Management Framework to ensure its proper development and implementation. Additionally, his responsibilities will also include effectively managing all risks facing the Bank, thereby positively impacting KIB’s business strategy and growth in a risk-balanced manner and developing robust risk-culture across the organization.
In its statement, KIB praised Noorani’s vast banking career spanning over 35 years, having worked in India, the GCC, and the Middle East. Noorani comes to KIB with extensive experience throughout which he has held a number of key senior positions in the fields of governance, risk, compliance, and corporate and investment banking at both conventional and Islamic banks.
Noorani has been in the GCC Banking since 1998. Previously, he held the position of Chief Risk Officer at Warba Bank, Kuwait and also served as Group Chief Risk Officer at Al Hilal Bank, UAE. He was also the Head of Group Risk & Capital Strategy and Assistant General Manager for Corporate and Investment Banking at Samba Financial Group, Saudi Arabia. In addition to these roles, Noorani held many senior management positions throughout his career. He is a member of a number of prestigious professional associations and organizations, actively participating as a speaker and panelist at various international financial and banking conferences.
Noorani holds Masters’ degree in Business & Finance and a Bachelor’s degree in Commerce with a specialization in Financial Accounting and Auditing, and a Bachelor’s degree in Law. In addition to several professional accreditations, he has been awarded certification in “Risk Management in Banks” from INSEAD, France. In 2016, Noorani was recognized as a “Leading Professional in Risk Management” by The Asian Banker.
KIB concluded its statement by noting that the Bank is proud to welcome Noorani as the newest member of its executive management team, bringing with him vast experience in his field of expertise and looking forward to seeing the positive impact he will have on Risk Management at KIB and the Bank’s business. This appointment comes as part of KIB’s strategy which focuses on attracting highly qualified talent, in an effort to solidify its position as a leading Islamic financial institution.
About Kuwait International Bank
Kuwait International Bank (KIB) is a bank that operates according to the Islamic Shari’ah, based in the State of Kuwait. Incorporated in 1973, and originally known as Kuwait Real Estate Bank, KIB made the transition to its current Islamic operating model in 2007.
Today, KIB is a full service Bank operating through a network of 26 branches spread across the State of Kuwait, and offering a broad range of banking products, services and solutions in accordance with the principles of the Islamic Shari’ah. The Bank’s mission and vision also encompasses a leading social responsibility program that aims at supporting every member of Kuwait’s society by spearheading a multitude of initiatives and activities.
In 2015, KIB embarked on a comprehensive strategic plan, aimed at improving the Bank’s performance indicators, as well as enhancing the quality of its products and services. The three-pronged strategy focuses on propelling the Bank to the forefront of the Kuwaiti banking sector and setting it on a solid path to becoming the “Islamic Bank of Choice” in the market.
© Press Release 2018