Hamad Al Ateeqi Group of Companies, a privately held conglomerate of businesses, had its beginnings in 1975. Led by its visionary founder and Chairman, Mr. Hamad Ateeqi, the Group is into General Trading & Contracting, Real Estate (construction and trade), Education, Consulting and Money Transfer/Remittances world-wide.
Mr. Ateeqi, an engineer by qualification (USA) belongs to a business family, which had strong Kuwait-India trade links as early as 1947. He has been rendering yeoman services to the expats of Kuwait, predominantly Indians, in money transfer/exchange and in education for nearly four decades now. Mr. Ateeqi actively engaged in India, in the 1980s, through direct project investments.
The Group was the first one, in Kuwait, to venture into the money remittances business to India when its flagship company – Kuwait India International Exchange Co. – was established in 1978 in collaboration with State Bank of India, with equity participation and management contract by the latter. Old-timers and senior residents of Kuwait aver that the setting up of Kuwait India dealt a serious blow to the hitherto, unregulated, risky, hawala trade and made remittances to India safe and reliable. Over the decades, through its customer service, impeccable corporate governance and strong relationship with State Bank of India, the Company has earned the plaudits and trust of the Indian diaspora.
It also set up, in 1984, City International Exchange Company, to meet the growing demand for these services and to mainly non-Indian expats.
Carmel Higher Secondary School, managed by the Sisters of the Apostolic Carmel, established in 1969, came under the sponsorship of the Group since 1977.
Among the major construction projects undertaken, over the years, by the Group are The Institute of Banking Studies (Sharq) and the Kuwait National Museum (Arabian Gulf Street, Kuwait), a landmark in the annals of Kuwait’s history.