Department Director: Adel N. Hamadah
o To adhere to and implement the procedures setup for the functioning of Settlements / Communications and Imaging Processing transactions.
o To process every financial transaction prior to its value date and to minimize errors while processing.
o To automate every process in the electronic format thereby limiting human errors.
GENERAL RESERVE FUND (GRF)
o The Unit's main objective is to prepare the Financial Statements in a timely manner for Senior Management
o Prepare the reports (monthly, quarterly and yearly).
o Ensure enough controls regarding the accuracy of the accounting posting.
o Respond to all the queries of internal and external auditors.
o Train Kuwaiti staff.
FUTURE GENERATIONS FUND (FGF)
o Prepare financial accounts (ISS)
o Provide Management information (JETS)
o Provide ad hoc reports
o To ensure that all fund transactions are authorized, executed and recorded according to procedures.
2. Global Custody
o To ensure that all issues are followed up and reconciled
o To raise additional requirements from Internal Audit department.
o To follow up on issues of accounting, operations and securities lending in coordination with the concerned staff
o To periodically revise the fee in line with the market
o To maintain ongoing relationships.