Dr. Nawaf Al Shuraiaan – GC Powerlist
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Middle East 2024

Financials

Dr. Nawaf Al Shuraiaan

General Legal Counsel | Al Ahli Bank of Kuwait

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Middle East 2024

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Dr. Nawaf Al Shuraiaan

General Legal Counsel | Al Ahli Bank of Kuwait

How do you approach managing legal aspects during periods of instability or crises, and how does your legal strategy align with the broader business strategy to ensure the organisation’s resilience?

As general counsel in a bank, I approach managing legal aspects during periods of instability by proactively identifying and mitigating legal risks, developing a robust crisis management plan, and ensuring close coordination with other key departments such as risk management and compliance. My legal strategy is closely aligned with the broader business strategy by focusing on maintaining regulatory compliance, protecting the bank’s reputation, and supporting operational continuity. This alignment ensures that legal decisions not only address immediate legal challenges but also contribute to the bank’s overall resilience and strategic objectives during times of crises.

What are the main cases or transactions that you have been involved in recently?

Two of the most notable transactions that I have recently been involved in are: first, ABK’s Capital Increase of 500 million shares at a value of KD100mn; and second, ABK’s successful issuance of KD50mn Subordinated Tier 2 Bonds set to mature over a 10-year period.

How do you measure the impact of ESG initiatives on the company’s overall performance and reputation?

I measure the impact of ESG initiatives on overall performance and reputation by closely monitoring legal and regulatory compliance related to ESG criteria, ensuring that our initiatives meet or exceed required standards. I also assess the legal risks and benefits associated with these initiatives, including potential impacts on litigation risk and regulatory scrutiny. Furthermore, I evaluate how effectively these initiatives align with our legal obligations and corporate governance, and review stakeholder feedback. This comprehensive approach helps ensure that our ESG efforts not only comply with legal requirements but also contribute positively to our organisational standing and operational resilience.

What do you see as the major legal challenges for businesses in the region over the next five years, and how are you preparing to address them?

Over the next five years, I believe that businesses will confront legal challenges including stricter financial regulations, complex data protection laws, economic instability, and evolving ESG requirements. To address these challenges, we are focusing on several key areas: ensuring compliance with new regulatory standards, fortifying our data protection policies, developing robust risk management strategies to navigate economic uncertainties, and ensuring our legal practices align with emerging ESG standards. Continuous monitoring of regulatory changes and fostering cross-departmental collaboration are central to our approach in effectively managing these risks and successfully upholding our legal obligations across all aspects of our business.

What role does the legal department play in promoting and ensuring corporate social responsibility in your organisation?

Our legal department ensures that corporate social responsibility (CSR) initiatives comply with applicable laws and regulations. We advise on legal aspects of CSR policies, help integrate these policies into the company’s framework, and manage risks related to CSR activities. We ensure that CSR initiatives align with legal requirements and industry standards, manage legal risks associated with CSR activities, and provide guidance on reporting and transparency. Additionally, we support the development of policies that reflect our commitment to social and environmental responsibilities, helping to align corporate actions with broader societal expectations and legal obligations.

Dr. Nawaf Al Shuraiaan - Middle East 2023

General counselor, head of legal division | Al Ahli Bank of Kuwait

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Dr. Nawaf Al Shuraiaan

General counselor, head of legal division

Al Ahli Bank of Kuwait

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