Fayez Al Kandari – GC Powerlist
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Middle East 2017

Financials

Fayez Al Kandari

General legal consultant | Boubyan Bank

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Middle East 2017

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Fayez Al Kandari

General legal consultant | Boubyan Bank

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At the forefront of the legal financial sector of Kuwait, Dr. Fayez Al Kandari leads the legal department at Boubyan Bank, one of the emerging banks within the country, and is a well-known figure within the industry having over 25 of experience in the field related to both local and international disputes. In addition to his general counsel role, Al Kandari holds several other important positions that enable him to provide a more informed, industry-leading perspective to his work. Al Kandari has an academic role as a professor of private law at Kuwait University and is also the legal counsel for the Kuwait Banking Association. He is a judicial arbitrator at the Ministry of Justice and a local and international arbitrator and conciliator. Al Kandari is a key figure during all of the most significant cases and transactions the bank and its subsidiaries is involved in, he cites a ‘key role’ played by his legal department in a pioneering issuance of a sukuk under new financial regulations, the first of its kind that ‘complies with the provisions of the Islamic Shari’a’, and provided a massive endorsement of the high potential of the Kuwaiti financial sector and the diligent work of Al Kandari. Assisting with moulding not only the discourse around financial law in the country, Al Kandari has participated in the active development and modification of ‘key legislation’ in Kuwait, having worked closely with government legislators in the drafting of the legislation ensuring ‘private sector interests and views are represented’. He claims: ‘the legal department has a pivotal role in achieving effective economic unity between the bank and its subsidiaries through its legal supervision and representation and follow-up of its work and as its key support.’ Ensuring efficiency and optimal results, he states: ‘The legal department has worked diligently in negotiating and collecting debts without resorting to the court route by increasing employee education on the issue and setting the procedures in place to encourage its use.’ Delivering outstanding results encompassing a ‘high success rate in cases handled of over 90%, delivering a pre-set number of workships, courses and visits that benefit the Bank and its employees’, Al Kandari and his team offer real added value to their business.

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