Kuwait City, May 28: Kuwait Projects Company (Holding) – announced the appointment of Mr Adel Jasem Al Waqayan as Group Treasurer.

Mr Al Waqayan joined KIPCO as Treasurer in 1995. Prior to that, he was the Chief Foreign Exchange and Money Market Dealer at Burgan Bank for 13 years. For almost three decades, Mr Al Waqayan has managed KIPCOs cash flow, invested returns, and contributed to local and international refinancing deals. He was the Chairman of the Kuwait Financial Markets Association in 2006 and is currently Chairman of the Chairman’s Club. Mr Al Waqayan holds an MBA from USI University, USA.

Commenting on the appointment, Sheikha Dana Naser Sabah Al Ahmad Al Sabah, KIPCO’s Group Chief Executive Officer, said:

“As we continue to work on diversifying our investor base with the aim of maintaining the company’s financial flexibility, Adel’s knowledge and expertise will be an invaluable to our efforts. I would like to take this opportunity to congratulate Adel and wish him all the best in his new role.”

On his part, Mr Al Waqayan said:

“I am delighted for this opportunity to continue to serve KIPCO and to work across the Group’s many businesses. I look forward to working alongside my colleagues to create greater value for our stakeholders.”