NBK announces new General Manager for IBQ

Michael Williams is a highly experienced international banker and brings with him over 25 years of experience spanning different corporate and international cultures and having held senior positions within the Barclays Bank Group and Nomura Securities in London.

IBQ was officially opened on 30th August 2004, concluding a deal with NBK by which NBK completed its acquisition of a stake in IBQ and assumed management of the bank as per the terms of a management contract between both banks.

Commenting on the new role Williams said: "I am delighted to join NBK as GM of IBQ at such an interesting time. Qatar offers many opportunities for a sound bank like IBQ and I am confident that we will see the bank grow and broaden its activities, helped by our ability to harness the skills that reside in our associated banking entities within the NBK group around the world".

NBK stands out in Kuwait and among Arab banks in terms of its local and international network, in London, New York, Paris, Geneva, Lebanon, Amman, Bahrain, Qatar and KSA, with other ambitious plans for regional and global expansion. NBK reported record profits of USD 337 million during the first half of 2005. NBK has the highest overall credit rating among all banks in the ME from Moody's, FitchRatings and Standard & Poors'.