Minister of Finance and Minister of State for Economic Affairs and Investment Abdulwahab Al-Rasheed, in his capacity as Chairman of the Board of Directors of the General Investment Authority, issued a decision terminating the contract of the CEO of the Kuwait Investment Office in London, Saleh Al-Ateeqi.
The decision stipulates that the decision takes effect from the date it was issued, in public interest, with Al-Ateeqi being exempted from the 3 months notice period, provided that his dues are settled on this basis, reports a local Arabic daily.
In another decision, Al-Rasheed assigned Hussain Al-Halibi, president of the St. Martins company, to act as CEO of the Kuwait Investment Office in London, calling on all officials, each in his own jurisdiction, to implement the provisions of the two decisions and to act according to what was stated in them.
In a related development, informed sources said the Minister of Finance had formed a fact-finding committee earlier to look into the observations made about the Kuwait Investment Office in London.
The sources pointed out that the committee has not submitted its report yet, pointing out that the decision to terminate the services of Al-Ateeqi came in public interest.