KIB appoints Mona Mahmoud as Head of Anti-Money Laundering, Combating the Financing of Terrorism and Tax Compliance Department

Kuwait, 28 February 2024: Kuwait International Bank (KIB) is pleased to announce the appointment of Ms. Mona Hamed Mahmoud as the Head of the Anti-Money Laundering (AML), Combating the Financing of Terrorism (CFT) and Tax Compliance Department. With a notable track record in financial supervision and compliance, Ms. Mona is poised to bring a wealth of experience and new insights to KIB.

In her new role, Ms. Mona will spearhead the development and management of KIB's AML, CFT and tax compliance strategies, focusing on enhancing the Bank's compliance frameworks and reinforcing its international banking relationships. She will focus on strengthening KIB’s compliance with both local and international regulations, ensuring the integrity and security of financial transactions.

Commenting on the appointment, Feras Al Darmi, General Manager of the Human Resources Department at KIB, said: 'Ms. Mona’s leadership is anticipated to significantly propel the success and expansion of our Anti-Money Laundering, Combating the Financing of Terrorism and Tax Compliance Department, reinforcing KIB's standing as a leading Islamic banking institution in Kuwait. Her expertise in identifying and mitigating financial risks, along with her proven track record in developing and implementing inspection procedures, position her as the ideal leader to steer KIB’s AML, CFT and tax compliance initiatives.”

Al Darmi added: “This significant appointment underscores KIB's dedication to promoting local talent and emphasizes the Bank's commitment to empowering more women in leadership roles within the organization. It also highlights KIB’s commitment to maintaining the highest standards of regulatory compliance and its dedication to combating financial crimes.”

Ms. Mona brings over 18 years of experience in the banking and financial services industry, particularly in on-site supervision, monitoring, risk assessment, and regulatory compliance through her work at the Central Bank of Kuwait. Her educational background includes a B.Sc. in Accounting from Kuwait University’s College of Business Administration, coupled with numerous specialized training courses in financial risks and AML/CFT regulations.

It is worth noting that KIB remains dedicated to nurturing local talent by offering professional growth opportunities, acknowledging the achievements of its workforce, and welcoming distinguished individuals to its team. The Bank is devoted to ensuring a bright future for both its employees and the wider community, in line with its main slogan ‘Bank for Life’.