Fahad Al Rajaan

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Fahad Maziad Al Rajaan was born on 23 December 1948 in Kuwait. From 1992 to 2015, Fahad Al Rajaan served as Company Director of Ahli United Bank (UK) Plc. Rajaan is currently wanted by Interpol and Kuwaiti authorities for embezzling public funds and hiding them in accounts abroad.[1]

Career[edit]

Fahad Al Rajaan has acted as the Director General of the Public Institute for Social Security in Kuwait (PIFSS) since 1984. The PIFSS is behind one of the most comprehensive and publicly beneficial welfare systems in operation in the world today, working on the foundation of sharing the revenues from oil with the citizens of Kuwait. Fahad Al Rajaan believes that the socio-economic success of Kuwait is based on oil reserves, the relatively small population, democracy, lack of debt and the constitution. The current Kuwaiti pension scheme is recognised as one of the highest in terms of benefits for people in the whole of the west.

Alongside his work at the PIFSS, Fahad Al Rajaan has held a number of senior roles within the finance industry. As Chairman of the Ahli United Bank he maintains responsibility for the largest lender by market in Bahrain and a major commercial and investment banking group. He also holds the chairmanship of Wafra Investment Advisory Group in New York, which was established primarily to invest monies from the PIFSS. Fahad Al Rajaan has been named as one of the top 500 most powerful Arabs in the world today. He holds a BA in Business Administration from American University in Washington DC.

Personal Information[edit]

Fahad Al Rajaan was educated at the American University of Washington DC in the United States, attaining a bachelor's degree in Business Administration in 1975. A keen golfer, Al Rajaan won the prestigious 21st Dubai Duty Free Golf Cup at the Dubai Creek Golf and Yacht Club in 2013 with 42 stapleford points and a one shot victory, after 20 years of amateur play in the sport.[2]

Controversy[edit]

Fahad Al Rajaan as well as his wife and children have had their assets frozen in Kuwait due to criminal complaints alleging misconduct during his time as head of Public Institute for Social Security. He is wanted by Interpol and is actively hiding abroad. [3] Minister of Justice, Minister of State for National Assembly Affairs Dr Faleh Abdullah Al-Azeb recently affirmed Kuwait will continue to chase former director general of the Public Institute for Social Security Fahd Al-Raja’an, even if he leaves Britain. He is wanted in Kuwait for embezzling large sums of public money. [4]

References[edit]