VOL. XLII

No. 02

11-January-1999

KUWAIT

KIAs Badr Steps Down

The Kuwaiti Finance Minister, Shaikh 'Ali Salim al-Sabah, announced on24 December 1998 that Mr. 'Ali al-Badr, the Managing Director of the Kuwait InvestmentAuthority (KIA), would step down with effect from 1 January 1999 and would be succeeded byKIA board member 'Abd al-Muhsin al-Hunaif as Acting Managing Director. Mr. Badr, who hasbeen running KIA for the past five years, was reappointed to a second five-year term in1997. KIA is the...