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Monday , December 6 2021

Govt plans to ‘overhaul’ KIA’s board of directors

KUWAIT CITY, Aug 25: There is a government plan to overhaul the board of directors of the Kuwait Investment Authority (KIA) that was formed by a decree issued to this effect on Aug 5, 2021, reports Al-Rai daily. The sources say during the overhaul one of the current members are expected to be relieved of his post – due to his inability to continue as board member and is expected to apologize without revealing the reasons for this — and replaced by another.

However, the issue of the amendment was not raised during the first meeting of the board of directors which was held on August 12. It is noteworthy to mention that the KIA board of directors has 9 members headed by the minister of finance and members are the minister of oil, the undersecretary of the Ministry of Finance and the Governor of the Central Bank of Kuwait, in addition to 5 Kuwaiti members who specialize in various fields of investment, including the Managing Director Ghanem Al-Ghunaiman, Fahd Al-Rashed, Sheikh Misha’al Jaber Al-Ahmad, Dr Khaled Al-Fadil, and Faisal Al-Hamad.

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