Relevant sources revealed that the board of directors of the Shared Electronic Banking Services Company “KNET” established a sub-committee consisting of 4 members to bring a new CEO on board for the succession of Mr. Abdullah Al-Ajmi, who vacated his position after recently joining the Board of Directors of the Communications and Information Technology Regulatory Authority.
The sources indicated that the four committee-members are already members of the company's board of directors, which indicates an additional interest in scrutinizing and screening the candidates for this executive leadership position to choose the perfect fit.

Moreover, sources also stated that the committee has so far eliminated a few candidates, while still considering others. No final decision has been reached yet. 

Sources suggested that the selection process for KNET’s CEO shall be finalized before 2023, due to importance of this executive role and the Company’s leadership position in the payments system. It is expected that there will be wide local competition in the electronic payments sector that prompts the acceleration of filling this position as soon as possible, after the board of directors approves the most qualified candidate.

They also highlighted that the selection criteria are based on the most qualifications presented by the candidates who has the attributes to lead the company in the next chapter of its growth and has adequate experience to help develop KNET as the state-of-the-art electronic and digital payments system going forward.

The Payment Gateway is the most important digital banking services provided in Kuwait, and a strategic pillar for KNET's growth and development. Leading this technological advancement requires financial technology expertise.

KNET was established in 1992 with the partnership of the local banks to connect all the local bank’s systems and enable wide range of banking services through an advanced network.