Board of Directors
A UAE national and prominent member of the region’s business community, Faisal Belhoul, Founder and Managing Partner of Ithmar Capital, brings valuable insight and knowledge to the market, managerial and operational experience and an extensive network of contacts across the region. Prior to founding Ithmar Capital, Faisal’s senior management career began with the transformation of the Belhoul Group, a diversified, family-owned conglomerate with a notable reputation and history. His transformation strategy led to the successful reinvention of the Group as a regional asset management company with investments in private equity, capital markets and real estate. He has chaired boards of a number of business groups and associations, including the UAE Private Hospitals Council, the UAE Private Schools Councils and the Pharmaceutical and Healthcare Equipment Business Group of the Dubai Chamber of Commerce and Industry (DCCI). He is currently a board member of the DCCI as well as the Young Arab Leaders (YAL). Faisal studied Manufacturing Engineering at Boston University.
Having completed his bachelor’s Degree from The Kuwait University in Commerce and Political Science in 1980 his experience spans over three decades. During his illustrious career, he has had many professional achievements and also had the distinction of attending professional courses from prestigious universities like Wharton, IMD and Cranefield.
He is the Chairman of Nafais Holding which has investments in Education, Healthcare, Construction and Electronics Sectors. Under his leadership Nafais Holding has grown from KD4.5 million to a current value of more than KD 50 million. This achievement was concurrent to successfully leading the recovery of the Al-Wazzan Holding Group during the 2008 crisis as their CEO at the time.
As the Deputy Chairman at Mowasat since 2012, he successfully oversaw their accreditation with Joint Commission International (JCI). JCI is the highest accreditation in health care globally and Mowasat Hospital is the only organization in Kuwait to attain it.
Under his leadership as Vice Chairman at Muwared United Investment Co. the company achieved the best performance in the institutional portfolio management for a KD200 million portfolio for PIFSS for up to 4 years.
He was also been the Chairman of Kuwait National Hotels & Tourism for 8 years. He established 3 hotels in Kuwait, Sharjah and Jeddah and through investment acquired Saudi Arabia Hotel Corporation and Holiday Inn in Al-Salaam Jeddah.
After this he took on a new initiative in 2000. Takaful, the first Islamic insurance company in Kuwait. He is its Vice chairman to date and successfully got the company listed on KSE as well.
He has been the CEO of Burhan Construction for almost 2 decades. There he maintained a steady growth for the company and successfully made the company a regional player. At the same time he started the Mushrif Trading & Contracting Company in 1968 and led the company for 38 years. He remained its Chairman and board member until the International Fund bought the shares and took over in 2006. He joined MUSHRIF again in 2017 and currently he holds the position of CEO at MUSHRIF
Khaldoun Haj Hasan has over 15 years of experience in investments and strategy development in the Middle East and guiding private companies in their expansion through M&A activities in addition to structuring and executing exit strategies. He is also also the co-founder of Ithmar Capital (Ithmar), a prominent, UAE-based private equity house with investments in excess of USD650 million in various sectors including healthcare, education, construction and engineering services. Khaldoun has previously held various senior management positions including Vice President at Abraaj Capital, acting CEO of Sheikh Khalifa Small and Medium Size Enterprises, Executive Director of Al-Bawardi Enterprises and Commercial Director of Al-Fahim Group. He has current board representations on a number of privately held and publicly listed companies in the GCC and the US. He holds an MBA and MSc in Manufacturing Engineering from Boston University.