Statement re Head of Kuwait Branch

BankMuscat - Kuwait branch

The Bank would like to inform the market that the Head of its Kuwait Branch has been removed from his position on instruction from the Central Bank of Kuwait (CBK). The decision taken by CBK was as a result of the branch maintaining two officers in situ for positions where they did not fully meet the experience and expertise criteria as laid down by the regulator. The Bank has shortlisted a candidate for this position and we expect to make the appointment shortly following necessary regulatory approvals. We look forward to working closely with the CBK as our business grows and develops in Kuwait.