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Kuwait Finance House Appoints New Chief Executive Officer and Top Management Team for Malaysia

Fortifying the team with newly appointed Deputy Chief Executive Officer & Chief Consumer Banking and Chief Operating Officer

Kuala Lumpur, 29 August 2016: Kuwait Finance House (Malaysia) Berhad ("KFH Malaysia"), the first foreign Islamic Bank in the country announced the appointment of its new Chief Executive Officer (CEO), David Power.

David Power was the Group Chief Retail and Private Banking Officer of Kuwait Finance House K.S.C. ("KFHK") in Kuwait from 2014. He led the Group Retail and Private Banking function across the domestic market in Kuwait as well as the Retail and Private Banking Franchise in Turkey, Malaysia and Bahrain. David comes to KFHM with vast experience from other Middle Eastern and South African financial institutions over the past three decades. He holds a Bachelor in Social Science from The University of Cape Town, South Africa.

David Power is a result driven, award-winning Senior Executive with extensive financial services experience with a proven ability to lead and drive both top and bottom line revenue growth, significantly improve performance and achieve market place leadership in multiple jurisdictions, which will be key in steering the Bank to the next level.

In-line with the aspiration of the parent company to strengthen its business in Malaysia, the Bank also appointed two new key personnel into the Management Team for KFH Malaysia - a Deputy Chief Executive Officer & Chief Consumer Banking and a Chief Operating Officer. The appointments are to fortify both KFH Malaysia's retail and operations divisions, as well as to enhance the product offerings and service quality for its customers.

Nor Azzam Abdul Jalil, KFH Malaysia's Deputy CEO & Chief Consumer Banking is a seasoned banker with 29 years of experience in various portfolios. He joins KFH Malaysia from his previous position as the Acting Head of Consumer Sales and Distribution & Managing Director of CIMB Bank Berhad and the Board of Director for CIMB Principal Asset Management Sdn Bhd. He will lead to strategise and drive KFH Malaysia's Consumer Banking Division to reach its customers nationwide. Nor Azzam holds a Bachelor of Finance from the George Washington University, Washington DC.

David Wee Kim Peng joins KFH Malaysia as the Chief Operating Officer. He last served as AmMetLife's Chief Operating Officer where he led the Information Technology, Operations, Property & Administration and Special Project Teams. With thirty years of extensive experience in IT, operations and consulting, he is tasked to strengthen KFH Malaysia's operations team to support the Bank's business plan. He holds a Bachelor of Arts from the University of Malaya, Malaysia.

The former Chief Executive Officer & Managing Director, Ahmed S. Al Kharji remains as one of the Board of Directors (BOD) for KFH Malaysia. The BOD and Management would like to thank him for his undivided support during his tenure. The Bank looks forward to more of his contributions as a member of the BOD.

The new management line-up is testament to the shareholders' commitment in Kuwait to the growth of the Bank in Malaysia. KFHK is confident that under the leadership of David Power and the new management team, its business interests in the country will propel into a new promising chapter via attractive Islamic products and services to Malaysia's consumers.