Kuwait Finance House Malaysia appoints first female CEO

The Malaysian subsidiary of the Kuwaiti Islamic bank has re-hired its former deputy CEO Puan Jamelah Jamaluddin to lead operations.

Kuwait Finance House (Malaysia), the Malaysian subsidiary of Islamic bank Kuwait Finance House (KFH), has appointed Puan Jamelah Jamaluddin as its first female chief executive.

Jamaluddin is responsible for the bank’s operations in Malaysia and the Asia Pacific region. This appointment marks her second tenure at Kuwait Finance House (Malaysia). In 2005, she was made the bank’s deputy chief executive officer and steered its corporate investment banking division, including the division’s private equity, real estate, treasury and research units.

Before her current appointment, Jamaluddin was a managing director at RHB Islamic Bank from 2007. She has also worked as the chief operating officer at financial institutions RHB Sakura Merchant Bankers, Macquarie Malaysia and Perwira Affin Merchant Bankers.

“As the regional headquarters of KFH in the Asia Pacific region, our presence in Malaysia will continue to play an important role, in facilitating two-way investments and trade between the country and the Middle East,” Shaheen Alghanem, the chairman of Kuwait Finance House (Malaysia), said in a statement.

In May 2009, Kuwait Finance House Labuan, a wholly-owned subsidiary of Kuwait Finance House (Malaysia) entered into a joint venture with Cyprus Stock Exchange-listed SFS Group, a non-banking financial group with a primary focus on shipping and property, to launch a private equity fund focused on the shipping sector.

The Shariah-compliant fund aims to raise $150 million and will focus on investments in shipping assets, primarily in vessels to be chartered on a long-term basis. It will have a preference for investments in offshore ships.