MANAMA: Venture Capital Bank (VCBank) appointed Abdulfatah Marafie chairman and Mohammed AlSarhan deputy chairman.
These appointments follow the departure of Dr Ghassan Al Sulaiman, due to his appointment as Governor of the General Authority of Small and Medium Enterprises in Saudi Arabia.
Mr Marafie is a founding shareholder and has been deputy chairman of VCBank since its inception in 2005.
He is a prominent Kuwaiti businessman with more than 36 years of experience, primarily in real estate.
In addition to VCBank, Mr Marafie currently holds the positions of chairman of Commercial Real Estate Company (Kuwait); chairman and general manager of Mozon Investment Holding Company (Morocco); and chairman of Commercial Real Estate Development Company (Bahrain).
He also serves as board member of a number of private sector companies, namely Amar Financing and Leasing Company (Kuwait), Saudi Venture Capital Investment Company and Bayan Realty Company (Saudi Arabia), Goknur Foods Company and TOPSU (Turkey), in addition to his board membership of two major Kuwaiti public sector organisations, namely the Public Institution for Social Security; and the Supreme Council for Planning and Development.
Mr AlSarhan has served as board member of VCBank since 2012. He has more than 38 years of experience and currently serves as chairman of Al Safi Danone and vice-chairman of National Shipping Company (Saudi Arabia).
He also holds board memberships in various companies, including Al Faisaliah Group Holding, European Islamic Investment Bank, Saudi Fresh Dairy Board, Saudi Civil Aviation Holding Company and Qatar Engineering and Construction Company.