Leading Kuwaiti bankers take part in Arab meeting

Leading Kuwaiti bankers are taking part in the Arab Banking Conference, organized by the Union of Arab Banks, that got underway here on Wednesday. Among the prominent Kuwaiti bankers participating in the event is Sheikh Mohammad Al-Jarrah Al-Sabah, Chairman of Kuwait International Bank (KIB), along with a number of experts in various related domains, namely development and funding enterprises. The two-day conference tackles various problems in the Arab countries, namely economic sluggishness, unemployment and stumbling enterprises and establishments. Governor of the Jordanian central bank, Ziad Fariz, called in the inaugurating statement on the Arab banks to abide by international rules and guidelines. He also emphasized necesstiy of boosting governance and competition "on the basis of the best international practices to tackle flaws caused by the international financial crisis." The union, on sidelines of the convention, honored the former Chief Executive Officer of the National Bank of Kuwait, Ibrahim Dabdoub, in appreciation for his services to the Arab banking sector since 1961. Conferees also honored Jassem Al-Menaee, the ex-chairman of the Arab Monetary Fund. In remarks to KUNA, Dabdoub praised the growing NBK, now employing 6,000 people, boasting 120 branches, with net profits estimated at USD one billion.