National Bank of Kuwait (NBK), the largest bank in Kuwait and most highly rated in the Middle East, announced today the formation of an International Advisory Board (IAB) which brings together a number of distinguished world figures in the fields of politics, economics and business. Several major international financial and banking organizations such as Citigroup, Deutsche Bank, Goldman Sachs and Morgan Stanley have established similar advisory bodies; however, the NBK International Advisory Board sets a precedent for banks and financial institutions in the Middle East.
NBK’s Chief Executive Officer, Ibrahim Dabdoub, said he was delighted that the new International Advisory Board would be chaired by The Rt Hon Sir John Major, KG, CH who, for nearly a decade during his years as Prime Minister of the UK, played a vital role in devising regional policies in the Middle East, and that the Board counted among its members some of the most prominent figures from the Middle East, United States, Britain and India.
"The new Board will draw on the wealth of experience, knowledge and world-class counsel of its members to support our presence and initiatives on the international arena. The role of the IAB would be to contribute international perspectives on long-term strategic issues and developments pertaining to the region and globally, that should help us in reviewing and developing NBK's long-term strategy and achieve our vision of remaining the premier Arab bank as per the testimony of all major credit-rating agencies”, said Dabdoub.
Sir John Major who will chair NBK IAB was elected Prime Minister on November 28, 1990 and held office until May 1997. In the General Election of April 1992, he led the Conservative party to an unprecedented fourth term in office.
As Prime Minister, Sir John focused his efforts upon securing peace in Northern Ireland and upholding Britain's position in the world community as a political, social and economic leader. He was Prime Minister throughout the Gulf War and, at home, instigated long-term reforms in education, health and public services. On 1 May, 1997, he handed over the strongest economy any incoming Government had inherited. On New Year's Day 1999, The Queen appointed him a Companion of Honour in recognition of his initiation of the Northern Ireland Peace Process. On St George's Day 2005, he was appointed a Knight Companion of the Most Noble Order of the Garter and is a Vice-President of The Friends of St George’s Chapel.
Among the members of the International Advisory Board are:
- Mustafa Koç, Chairman, KOC Holding A.S, Turkey
- Peter Davies, Vice President and Chief Economist, British Petroleum, UK
- Mohamed El-Erian, CEO and President, Harvard Management Company, USA
- Martin Feldstein, President and CEO, National Bureau of Economic Research, and George F. Baker Professor of Economics, Harvard University, USA
- Abdulatif Al-Hamad, Chairman and Director General, Arab Fund for Social & Economic Development, Kuwait
- Lubna Olayan, Chairman, Olayan Financing Company, Saudi Arabia.
- Naguib Sawiris, Chairman, Orascom Telecom, Egypt
- Mukesh Ambani, Chairman and CEO, Reliance Industries, India
- John Chipman, Director General and CEO, International Institute for Strategic Studies (IISS), UK
- Anthony H. Cordesman, Arleigh A. Burke Chair in Strategy, Center for Strategic and International Studies (CSIS), USA
- Ged Davis, Co-President, Global Energy Assessment, Austria
- Steve H. Hanke, Professor of Applied Economics, The Johns Hopkins University, USA
- Moises Naim, Editor-in-Chief, Foreign Policy, USA
- John Waterbury, President, American University of Beirut, Lebanon
The establishment of the Board coincides with NBK’s ongoing regional and international expansion.
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