Kuwait Finance House Says Waits For Regulatory Approval On New CEO Hire

Kuwait Finance House (KFH) is awaiting regulatory approval to hire the former head of consumer banking at National Bank of Kuwait as its new chief executive, the country’s biggest Islamic lender said on Wednesday.

KFH made the disclosure in a bourse statement in response to a story published in Kuwaiti newspaper Al Qabas on July 25 that named Mazen al-Nahedh as the bank’s new chief executive.

Earlier this month, National Bank of Kuwait said al-Nahedh had submitted his resignation and would leave the bank on Oct. 21.

KFH, whose former chief executive Mohammed al-Omar retired in May, did not say when it expected the regulator to respond.