Manama, Bahrain – Kuwait Finance House Bahrain (KFH-Bahrain) announces the resignation of Mr. Abdulhakeem Alkhayyat from his position as Managing Director and Chief Executive Officer. Mr. Alkhayyat has served in this role for over twenty years and his departure marks the  culmination of an era characterized by giving, excellence and growth.

During his tenure, Mr. Alkhayyat has been instrumental in propelling KFH-Bahrain to new heights, establishing the bank as a leading player in the Islamic banking sector. His contributions to support the Board of Directors’ strategic vision resulted in achieving the well-deserved distinction for KFH - Bahrain through diversity in services and businesses.

A seasoned professional with a wealth of experience in the Banking sector, Mr. Alkhayyat has been a driving force behind numerous achievements within KFH-Bahrain and the broader industry, as well as enhancing competition between Banks. He and his team played a pivotal role in launching many banking services, including long term mortgage finance such as the lease-to-own product, which enabled citizens to own their homes. Adopting FinTech has led to the improvement of KFH-Bahrain’s services and enhancing its leading position, which enabled customers to achieve their financial needs with high efficiency, thereby establishing competitive standards among banks in digital banking solutions. Moreover, his efforts with the team also culminated in the establishment of a wealth management department concerned with meeting the needs of high-net-worth clients to diversify their investments in line with their requirements in terms of returns and risks through young and qualified Bahraini leaders. KFH-Bahrain invested early in major real estate development projects and was an influential force in supporting the Kingdom’s economy, creating more competition and improving the quality of real estate products. It is worth noting that the percentage of Bahrainization in KFH- Bahrain exceeds 90 percent, the majority of whom hold professional qualifications and scientific studies.

In addition to his contributions to KFH-Bahrain, Mr. Alkhayyat has and still serves as Chairman of the board for two of the largest real estate projects in the Kingdom, Durrat Al Bahrain and Diyar Al Muharraq, as well as other real estate projects. He left, with his team, an indelible mark on real estate sector. He is also a member of several non-profit organizations, aiming to meet his social responsibilities with great interest and care.

Commenting on Mr. Alkhayyat's resignation, the Chairman and members of the Board of Directors thanked Mr. Alkhayyat's for his efforts and dedication throughout his service and his high level of professionalism and good behavior he demonstrated with the members of the Board, the KFH-Bahrain team, the KFH Group, the community, and other stakeholders, which contributed to KFH-Bahrain assuming the prestigious position it deserves in the Kingdom of Bahrain. The Board of Directors and the Group extend all thanks, praise, and appreciation to him, wishing him continued success in his future endeavors.

Mr. Abdulhakeem Alkhayyat expressed his praise to God Almighty for his abundant gift and success, and he highly appreciated the support and assistance that the KFH-Bahrain received from His Majesty King Hamad bin Isa Al Khalifa, and the wise government headed by HRH Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister which had a significant impact in all the achievements of KFH-Bahrain, since its establishment.

He also extended his thanks and gratitude to owners of the KFH Group and the chairmen and members of the boards of directors who founded and worked with the bank, for their valuable support and trust provided throughout that period. He also praised the role of KFH Group for its great and generous support to the community in all its forms in the Kingdom since its establishment. He also acknowledged the continuous moral support from the honorable ambassadors of the State of Kuwait in the Kingdom and constantly urged them to provide the best that they can, to maintain the strong relationships between the two countries and enhance the reputation of the  Kuwaiti institutions operating in the Kingdom.

Mr.  Alkhayyat also extended his great thanks and appreciation to all KFH-Bahrain employees who have worked since its establishment with all sincerity and efficiency and have contributed to achieving the desired goals and building this distinguished institution in the Kingdom of Bahrain, wishing them to achieve what they aspire in the future.

He also praised the Central Bank of Bahrain’s directives and support for the financial institutions in the Kingdom, especially during the financial crises, and their guidance, and making important and influential decisions to mitigate the impact of these crises. He thanked the bank’s clients and partners for their support and commitment to KFH- Bahrain and thanked all work colleagues at KFH Bahrain, the various financial institutions in the Kingdom of Bahrain, including the chairmen of the boards of directors, CEOs, the Bahrain Association of Banks, and all infrastructure institutions related to financial institutions, for their constructive and continuous cooperation during the various periods, especially in the critical periods that passed through the global economic and financial sector, where Kingdom of Bahrain was able to mitigate its critical consequences, thanks to the concerted efforts between the various sectors led by the government of HRH Prince Salman bin Hamad Al Khalifa.