KUWAIT CITY, Oct 23: Warba Bank announced the appointment of Abdullah Abdul Rahim Fakhro as Executive Director of Sharia Management at the Bank after obtaining the approval of the Central Bank of Kuwait.

The Bank said in a press release that Fakhro is considered one of the Kuwaiti professionals with extensive practical experience. He holds a Bachelor’s degree in Islamic Sharia, specializing in the principles of jurisprudence, with a high distinction recognition from Kuwait University. He obtained the Certified Sharia Auditor Certificate from the Central Bank of Kuwait, which is offered by the Kuwait Institute of Banking Studies. He also obtained the Certified Sharia Auditor Certificate from the Accounting and Auditing Organization for Islamic Financial Institutions. He also obtained a diploma and then a professional master’s degree from the General Council for Islamic Banks and Financial Institutions, which includes a group of professional certificates, including: Certified Islamic Specialist in Financial Markets, Certified Islamic Specialist in Takaful Insurance, Certified Islamic Specialist in International Trade, Advanced Islamic Specialist in Sharia Auditing and Accounting Treatments for Banking Operations. He obtained a Fellowship Certificate of Sharia Advisor in Islamic Financial Transactions and Dispute Resolution from the Saudi Judicial Scientific Association, which includes a group of professional certificates, including: Islamic Finance Advisor in Islamic Finance Contracts, Islamic Sukuk Applications, Bank Treasury Transactions, Sharia Supervision Applications, Sharia Consulting Applications, International Trade Financing, and Financial Dispute Resolution Specialist in Arbitration. Mediation in settling financial disputes, the foundations of advocacy, consulting and drafting contracts, applications of disputes in securities, applications of banking and financing disputes. Fakhro is also a certified Zakat Accountant from the Zakat House Kuwait and a certified trainer in Islamic finance who has presented many specialized courses.

The Bank explained that Fakhro has sufficient experience that qualified him to obtain this position, as he held the position of internal Sharia auditor in one of the largest investment companies from March 2015 until May 2018, and provided most of his experience in this position, as he conducted Sharia audits during this period on the parent company and more than 10 affiliated and subsidiary companies. He is registered with the Capital Markets Authority as a Sharia audit officer in this company for that period, and was the Secretary of the Fatwa and Sharia Supervision Board, Acting Director of the Sharia Supervision Department, and a representative of the members of the Fatwa and Sharia Supervision Board in many general assemblies of the subsidiary companies.

The Bank continued: In May 2018, he held the position of Sharia Supervisor with the rank of specialist in Sharia management at Warba Bank, and progressed through the positions until he was promoted to Senior Manager of Sharia Audit and Follow-up and then to the position of Executive Director of Sharia Management at the Bank. Fakhro participated in many tasks, most notably as an advisor to the committee concerned with issuing products, an advisor to the committee concerned with automating the Bank's management systems, and the internal Sharia audit officer for the investment funds launched by the Bank. He is also responsible for auditing the Bank's zakat calculation and its investment funds.

Warba Bank wishes Fakhro success in his new position to be among the Kuwaiti staff who have proven their presence and left a clear mark at Warba Bank.

Warba Bank is one of the banks that have achieved great successes in a short period of time, as it has occupied a leading position by providing innovative digital banking services in accordance with Islamic Sharia for individuals and companies, and is one of the local banks with the largest number of shareholders, and these are among the most prominent elements that make the Bank close to all members of society.