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Tuesday , January 31 2023

Forbes Middle East lists 6 Kuwaitis among 100 most powerful CEOs – Al-Kharafi tops

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KUWAIT CITY, July 6: Forbes Middle East has announced the list of the 100 most powerful CEOs in the Middle East including six CEOs of Kuwaiti companies and banks make the list — Engr. Bader Nasser Al-Kharafi, Sheikha Dana Nasser Al-Sabah Al-Ahmad, Issam Al-Sager, Tarek Sultan, Elham Mahfouz and Muhammad Al-Osaimi, reports Al-Anba daily.

Sheikha Adana Nasser Sabah Al-Ahmad, Issam Al-Sager, Tariq Sultan

In terms of the full list, it includes 26 different nationalities for the most powerful CEOs in the Middle East, led by the Emiratis with 19, followed by the Egyptians 16, the Saudis with 15 business leaders. Seven CEOs are in each of the energy and logistics sector, while the value of the companies run by the 100 most powerful CEOs in the Middle East exceeds about $5 trillion, and their revenues amounted to more than $1 trillion last year.

Ilham Mahfouz, Mohammed Al Aseemy and M. Bader Nasser Al-Kharafi

Returning to the list of the most powerful CEOs in Kuwait, Vice-Chairman and CEO of Zain Group Eng Bader Nasser Al-Kharafitops and his overall ranking is 35th. Al-Kharafiis the Chairman of the Board of Directors of the Executive Committee of the Kuwait Stock Exchange, a member of the Board of Directors of the United Nations High Commissioner for Refugees, and is also the founder of the private joint stock company (BNK Holding). The CEO of Kuwait Projects Group Holding (KIPCO) Sheikha Dana Nasser Sabah Al-Ahmad came in second place in Kuwait and 58th overall.

Sheikha Adana Al-Nasser is also the founder and Chairman of the Board of Trustees of the American University of Kuwait, and Chairman of the Board of Directors of United Education Company. She is also a member of the Boards of Directors of Gulf Insurance Group, Kamco Invest and (OSN), as well as previously held the position of CEO of Al Fotouh Holding Company. Issam Al-Sager, Vice Chairman and CEO of the National Bank of Kuwait Group, came in third place in Kuwait and 59th overall.

The National Bank of Kuwait has 140 branches in 14 countries, and employs 7,511 employees. In 2021, the National Bank of Kuwait launched the first digital bank in Kuwait (WiYi), and in March 2022, it launched the sustainable financing framework, to integrate environmental, social and governance standards into its operations, and plans to reduce total operational emissions by 25% by 2025, to reach Operationally net-zero emissions by 2035.

Al-Sager is also the Chairman of the Board of Directors of the National Bank of Kuwait (International) and is a member of the Boards of Directors of NBK Wealth Management, NBK Properties and NBK Trustees. In the fourth and 67th place in the overall ranking, the CEO and Vice Chairman of the Board of Directors of Agility, Tariq Sultan, has been the CEO of Agility since 1997, and it is today one of the largest logistics companies in the Middle East and North Africa, with assets of $9.5 billion and revenues Valued at $1.6 billion in 2021.