Mubasher: Kuwait Finance House (KFH) has rescinded the contract of the bank’s CEO Mazin Saad Al Nahedh effective Monday, 4 May, without a notice period.

The board assigned Ahmad Saud Al Kharji to assume the duties and responsibilities of the CEO in addition to his role effective as of Tuesday, 5 May, according to a stock exchange statement on Monday.

The decision was made by KFH’s board during its meeting earlier today. 

It is noteworthy that in 2019, KFH’s earnings advanced by 10.4% to KWD 251 million from KWD 227.4 million in 2018.