News & Announcements

Kuwait: NBK Joins COP29 Discussions to Advance Sustainable Financing and Bridge the Climate Investment Gap

Reaffirming its dedication to fostering a sustainable, low-carbon economy and supporting Kuwait's overarching sustainability vision alongside global climate change mitigation initiatives, National Bank of Kuwait (NBK) participated in the 29th United Nations Climate Change Conference (COP29), held in Baku, Azerbaijan, from November 11 to 22, 2024.

The conference brought together an esteemed gathering of global leaders, policymakers, private sector executives, academics, and civil society representatives. Discussions focused on critical challenges, particularly climate finance, emphasizing the urgent need to mobilize substantial financial resources. Participants stressed the importance of raising trillions of dollars annually to fund climate adaptation efforts and enable countries, particularly developing nations, to combat the impacts of climate change. 

The discussions emphasized that advancing climate finance hinges on innovative financing mechanisms and substantial contributions from the private sector, through channels such as sustainable lending, green bonds, and green project financing. This aligns with NBK Group's ESG strategy, which is built on four key pillars, with a core focus on facilitating the transition to a sustainable economy and fostering sustainable finance across the region.

NBK’s achievements in this space include issuing the first green bond by a Kuwaiti financial institution in the first half of 2024, valued at $500 million. The bank has also pioneered sustainable financing solutions, introducing green mortgage loans, sustainability-linked loans, consumer loans for electric vehicles, sustainable credit, and eco-friendly housing loans, among other offerings across its branches.

Finance Day Participation

As part of COP29’s "Finance Day" on November 14, NBK participated in the session titled "Financing the low-carbon energy transition in Asia and the Pacific". Organized by United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), International Atomic Energy Agency (IAEA), International Renewable Energy Agency (IRENA), United Nations Environment Programme Finance Initiative (UNEPFI), and UN Trade and Development (UNCTAD), the session brought together public and private sector leaders to explore ways to close the climate investment gap and accelerate low-carbon energy adoption.

 The world faces an annual climate investment gap of $2.7 trillion by 2030. In the Middle East, $168 billion is needed annually by 2030 in climate mitigation measures to shift to a low-carbon economy.

 Among the discussion, “Just Transition” emerged as a central theme for equitable and sustainable investments. As economies transition to a greener and lower carbon future, it is vital to ensure no one is left behind, emphasizing the importance of supporting developing nations, protecting jobs, and reducing social inequalities. As financial intermediaries, banks have a major role facilitating an equitable climate transition. Kuwait has made significant progress by contributing over $23 billion to assist developing countries in mitigating the impacts of climate change by investing in green energy and environmental protection projects.

Clean Energy and Green Hydrogen 

A key focus at COP29 was the urgent need to accelerate the adoption of clean energy technologies and scale up investments in this sector, particularly within emerging markets.

NBK attended the Hydrogen Transition Summit organized by the Climate Action Organization, where discussions highlighted the role of low-emission hydrogen technologies in clean energy transitions. 

The summit discussions emphasized the critical need for robust infrastructure development, solid off-take agreements, enhanced international collaboration, and addressing regulatory barriers to unlock green hydrogen’s potential. Experts pointed out that green hydrogen offers substantial opportunities to dramatically reduce carbon emissions across the GCC and MENA regions.

Green hydrogen has become a key point of discussion in Kuwait’s broader energy transition strategy. The country is developing a masterplan to build out 25GW of green hydrogen production capacity by 2050, which underscores its commitment to invest in clean energy. 

Summit participants highlighted the critical role of public-private partnerships in closing the sustainable financing gap. Studies indicate a $380 billion investment gap in the hydrogen sector, highlighting the critical importance of sustainable financing to bridge this shortfall. By leveraging private capital, NBK firmly believes that these collaborations can fuel large-scale renewable energy projects, such as solar and wind farms, while also supporting the economic viability of green hydrogen technologies, especially in the GCC and MENA regions. 

NBK’s Unwavering Commitment

NBK’s participation in this pivotal global event underscores its commitment to promoting unified action across both the public and private sectors to effectively combat climate change and advance global sustainability efforts.

NBK has made significant strides in embedding Environmental, Social, and Governance (ESG) standards into its operations and core business activities, emphasizing that these principles are integral to the bank's business strategy and corporate culture, including targeting a $10 billion sustainable asset portfolio by 2030 and a 25% reduction in operational emissions by 2025.

As part of its commitment to integrating ESG standards into its investment activities, NBK has reached notable milestones, including joining the United Nations Global Compact (UNGC), the world’s largest initiative for responsible business practices, and the Partnership for Financial Carbon Accounting (PCAF). Through these initiatives, NBK has become the first bank in Kuwait and one of only 13 banks in the MENA region to align with leading global financial institutions in measuring and assessing greenhouse gas (GHG) emissions linked to their lending and investment portfolios.

Kuwait: NBK Hosts Sports Day as Part of Preparation for Annual Run

NBK is organizing a Sports Day on Saturday at Kuwait Towers, on November 23, 2024, from 6 a.m. to 7 p.m. to encourage the community to engage in sports and prepare for the upcoming NBK Run, scheduled for December 14, 2024. 

The event will feature various training sessions led by specialized fitness trainers to help participants get ready for race day. Several booths from NBK's strategic partners will also be present during the event.

Commenting on the event, NBK Public relations Senior Manager Yaqoub Al Baqer said: “At NBK, we view this annual run as an important initiative to inspire healthy lifestyles and community engagement. This event is not just about physical activity but about bringing people together and supporting causes that uplift society, including our focus this year on Para athletes, in collaboration with EQUATE.”

Al Baqer added: “A group of trainees from various sports disciplines will be present at different times throughout the day with the aim of working with those interested in participating across various types of physical and mental sports, as well as proper breathing techniques during exercise, to ensure they are fully prepared for the competition on December, 14.”

The NBK Run will begin on December 14, 2024, at 8:30 a.m. with two distance options, both starting and finishing at Kuwait Towers. The 10 km race will head toward Souq Sharq, turn back along the Gulf Road to 200 meters before the Green Island intersection, and loop back to Kuwait Towers. The 5 km race will follow a similar route, reaching the Officers' Club before returning to Kuwait Towers.

Prizes will be awarded to the top three male and female finishers in both races. The 10 km race offers KD 1,000, KD 700, and KD 500 for the top three finishers, while the 5 km race will reward KD 500, KD 400, and KD 300.

The event's closing ceremony will include a special raffle for all registered participants. Al Babtain Group will raffle off a 2024 Nissan X-Trail, and Ooredoo will offer a KD 5,000 Platinum Line. Touristic Enterprises Company will provide 18,000 entry tickets to its parks, including Winter Wonderland and South Sabahiyah Park, to all participants. Ali Abdulwahab Al Mutawa will also offer prizes from their "Intersport" and "Joe & The Juice" brands, and CHIP will give Apple devices to two lucky winners.

These exciting prizes, provided by NBK's strategic partners, will be raffled off under the supervision of the Ministry of Commerce and Industry, along with additional surprises and fun activities.

This year’s event includes a special collaboration with EQUATE Petrochemicals, which will sponsor the Para athletes category. This category welcomes wheelchair users, the visually impaired, and those with prosthetics, with cash prizes awarded to the top five finishers in both men’s and women’s 5 km categories. The prizes are KD 500, KD 400, KD 300, and two additional awards of KD 100.

Ooredoo, another strategic partner, will provide iPhones, Apple Watches, and "Shamel" packages to the top three winners in both categories.

Participants can still register until all spots are filled, with race kits available for pick-up from December 12 to December 13, between 1:00 p.m. and 9:00 p.m., next to Kuwait Towers.

The NBK Run is part of the bank’s long-standing commitment to social responsibility, reflecting its dedication to organizing a variety of social, humanitarian, charitable, educational, sports, and environmental initiatives to support and enhance the community.

Kuwait: NBK Offers 15% Cashback on Flight Bookings with Four Airlines

National Bank of Kuwait (NBK) has announced offering 15% Cashback on selected airlines when using eligible NBK Visa credit/prepaid cards.

The offer comes within the bank’s dedication to rewarding customers all year round through a diverse package of exclusive benefits and offers tailored to meet their needs and expectations.

NBK mentioned that eligible cardholders can redeem 15% of the value of their tickets when booking them between November 15, 2024 and January 31, 2025 directly through the participating airlines app or website, to any destination worldwide, and the travel period is flexible to allow customers take advantage of this offer.  The participating airlines are Qatar Airways, Turkish Airlines, Emirates, and Etihad Airways, whereas eligible Credit/Prepaid cards are as follows:

• NBK KWT Visa Infinite Credit Card
• NBK-Kuwait Airways (Oasis Club) Visa Infinite Credit Card
• NBK-Kuwait Airways (Oasis Club) Visa Signature Credit Card
• NBK Visa Infinite Credit Card
• NBK-KPC Visa Infinite Credit Card
• NBK Visa Signature Credit Card
• NBK Visa Platinum Credit Card
• NBK 247 Cashback Visa Platinum Prepaid Card
• NBK-Kuwait Airways Visa Platinum Credit Card
• NBK Avios Visa Signature Prepaid Card
• NBK Visa Infinite Privilege Credit Card

Commenting on this offer, Anwar Al-Ballam, Senior Products Manager, Consumer Banking Group at National Bank of Kuwait, said, “We always strive to elevate customer banking experience by providing premium offers in partnership with leading organizations across different sectors”

“In the new offer, the bank is collaborating with four international airlines to reward eligible NBK Visa credit/prepaid cardholders, by reducing their travel expenses through a 15% cashback on their tickets booked during the offer period, from mid-November through the end of January 2025,” he explained.

NBK Visa Credit/Prepaid Cards provide customers with a variety of benefits, in addition to exclusive offers and discounts, giving them a unique lifestyle with rewards all year round.

NBK offers a wide range of banking products and services that are relevant to customers’ lifestyles, as they can choose from NBK Credit Cards that are tailored to meet their different needs and provide them with various benefits and rewards.

Kuwait: NBK Conducts Successful Fire Drill at Its Headquarters

In line with its dedication to ensuring the safety and security of its employees, National Bank of Kuwait (NBK) successfully conducted a fire drill at its headquarters, with the aim of testing the readiness of the security and safety teams in dealing with emergency situations.

The drill was conducted under the supervision of NBK Security Department, in cooperation with Kuwait Fire Service Directorate (KFSD) of the Ministry of Interior and Medical Emergency Department of the Ministry of Health.

Commenting on this, Mr. Khalid Al-Matrouk, Chief Security Officer and Head of Anti-Financial Crime-Kuwait at National Bank of Kuwait said, “We conduct the fire drill practice periodically, in order to determine the readiness of our systems and facilities and employees’ knowledge of how to deal with emergencies, in addition to ensuring the effectiveness of evacuation plans and raising the expertise of Security Department employees in such emergencies.”

“We place the safety and security of our employees and customers as a top priority and a key consideration in designing all business strategies. Therefore, we always adhere to the highest international standards related to safety and security measures. During the evacuation, the employees showed adherence with the guidelines and instructions, followed the plans, and used the emergency exits under the supervision of the Security Department staff,” he noted.

Al-Matrouk extended thanks to the government agencies that provided all due support in conducting this fire drill, specially the MoI’s Fire Service Directorate and General Department of Civil Defense, as well as the MoH’s Medical Emergency Department.

National Bank of Kuwait frequently organizes training courses and awareness sessions for its employees about safety and security measures, in line with its commitment to adopting the highest internationally recognized safety standards.

NBK’s Headquarters is an architectural icon whose design is consistent with the modern trend of buildings and architecture following the highest and most efficient international safety standards, not only in terms of design, but also in the materials used and their distribution, in addition to using the most advanced elevator, firefighting and fire alarm systems inside the building.

Kuwait: NBK Earns Gold Award for “Excellence in Health and Wellbeing”

National Bank of Kuwait (NBK) won the Gold Award for “Excellence in Health and Wellbeing” from the prestigious US-based Society for Human Resource Management (SHRM) at the SHRM MENA STAR Awards 2024 held in Riyadh.

The award was received by Mr. Emad Al-Ablani, GM – Group Human Resources at National Bank of Kuwait, on the sidelines of the SHRM MENA Annual Conference and Expo. 2024, held in Saudi Arabia. The event aimed to highlight the key issues related to human capital development, especially those pertaining to attracting and retaining top talent and creating ideal future workplaces, as well as discussing the advanced WorkTech tools and exploring future workplace strategies. 

The “Excellence in Health and Wellbeing” Awards highlight the achievements of organizations and recognize their remarkable success in promoting employee health and wellbeing, demonstrating an effective understanding of the relationship between employee health and work productivity, implementing innovative and comprehensive health and wellbeing programs, and creating a supportive and healthy work environment that enhances employee wellbeing and organizational performance.

Underscoring its firm belief that employees are its most valuable asset, NBK places substantial emphasis on supporting employees and improving their physical and mental health. In this context, and to foster a healthy work environment, NBK provides a fitness gym equipped with the latest exercise equipment, which is open for employees, before, after and even during working hours for their convenience under the supervision of high-class trainers, aligning with the bank’s initiatives to raise health awareness and promote a healthy lifestyle.

NBK also provides a well-equipped clinic managed by Wara Hospital, which provides medical checkups, tests, and on-site visits by specialized doctors, as well as frequent awareness sessions to educate employees on various topics related to physical and mental health.

Furthermore, NBK provides many programs and activities focusing on employee wellbeing and care, and promoting a healthy lifestyle. It also allows flexible working hours and paternity leave, during which the new father is allowed to stay at home to bond with the newborn child.

NBK stands out as one of the few organizations in Kuwait with a unique work environment, akin to international peers by continuously providing employees with exceptional career development opportunities. This includes training programs and hands-on experience, which aim to help fresh graduates to navigate their way into the labor market and develop their skills and expertise through partnerships with leading international educational institutions to enable them lead banking sector development in the future. This ultimately results in increasing employees’ loyalty and giving the bank the edge in a competitive labor market.

SHRM, the Society of Human Resource Management, creates better workplaces where employers and employees thrive together.  As the voice of all things work, workers and the workplace, SHRM is the foremost expert, convener and thought leader on issues impacting today's evolving workplaces.  With 325,000 HR and business executive members in 165 countries, SHRM impacts the lives of more than 235 million workers and families globally. 

Kuwait: NBK RISE Advances Its Mission, Paving the Way to Empower Women in Leadership

Following the success of its inaugural edition, National Bank of Kuwait (NBK) has announced the launch of the second edition of NBK RISE, the pioneering program created to empower women leaders and prepare them for senior roles.

The launch ceremony was marked by the presence of Mr. Isam Al-Sager, Vice Chairman and Group CEO of National Bank of Kuwait, Ms. Shaikha Al-Bahar, Deputy Group CEO of National Bank of Kuwait, Mr. Salah Al-Fulaij, CEO of NBK-Kuwait, and Mr. Faisal Al-Hamad, CEO of NBK Wealth, Mr. Mohammed Al-Othman, CEO - Consumer and Digital Banking Group, Mr. Mohammad Al-Kharafi, COO - Head of Group Operations and Information Technology, alongside several of the bank’s top executives. 

The event was also attended by prominent public figures, industry leaders, CEOs, and representatives from major organizations, including Mr. Hesham Al-Refae, Managing Director of Human Resources & Corporate Services at Kuwait Petroleum Corporation, Mr. Abdulaziz Al-Babtain, CEO of Ooredoo Kuwait; Dr. Yaqoub Al-Rifai, Secretary General of Kuwait Banking Association, Mr. Mohammed Abul, CEO of ABYAT, and Ms. Salma Al-Hajjaj, General Manager of Human Resources at Gulf Bank, Mr. Ali Khalil, CEO of Kuwait Financial Centre – Markaz, Mr. Abdullatif Al-Nusif, Managing Director - Wealth Management and Business Development at Markaz, in addition to representatives from J’s Bakery, and Intervest Capital Partners New York. All participants exemplified a strong, collective commitment to advancing women’s representation in leadership roles through their collaboration and dedication, as part of the NBK RISE pledge. 

NBK is committed to supporting the NBK RISE program and its mission to foster professional growth and leadership development in women, creating a path of learning and opportunity that empowers them to ascend to higher leadership roles and secure positions on boards and executive committees.

This nine-month program incorporates a blend of training courses and events in partnership with IE Business School and INSEAD, focusing on essential competencies, confidence building, strategic initiative development, transformational leadership, and effective decision-making. Participants also benefit from mentorship, coaching by industry leaders, and collaborative projects that turn ideas into impactful outcomes.

The program is structured in modules targeting leadership and strategic skills, communication, and interaction, with a clear goal of preparing participants for distinguished leadership roles. Furthermore, the initiative will support a diverse group of participants, including female employees and trainees from the bank, as well as representatives from establishments involved in this year’s initiative. NBK is committed to advancing diversity and inclusion, with a particular focus on the critical role of empowering effective women leaders.

This year, the program includes 25 participants from diverse professional backgrounds, including NBK employees in Kuwait and international locations, as well as representatives from partner organizations whom NBK Group fully sponsors. The program's participants comprise a diverse cohort, including:

• 12 representatives from NBK Kuwait.

• 3 participants from NBK’s international branches (Egypt, Singapore, and Bahrain).

• 5 participants from esteemed regional companies: Kuwait Petroleum Corporation, Ooredoo, Kuwait Banking Association, Abyat, and Gulf Bank.

• 2 participants from NBK Wealth and 3 from Kuwait Financial Centre - Markaz, J’s Bakery, and InterVest Capital Partners, New York.

NBK is dedicated to fostering a culture of women’s empowerment throughout the entire organization, with a focus on expanding their presence in leadership roles. By offering guidance and career development opportunities, the bank provides specialized programs and workshops in collaboration with renowned universities and international training centers, equipping women leaders with the skills and strategies needed to excel in leadership positions.

NBK RISE serves as a powerful platform for ambitious women to harness their potential and achieve their professional goals, building on the exceptional success of the inaugural edition. 

The Bank will persist in its unwavering efforts to empower women in the workplace and advance their careers, grounded in its belief that diversity and inclusion are essential to ensuring the long-term success and sustainability of all organizations. 

Furthermore, NBK is deeply committed to promoting equal opportunities and fostering diversity, equality, and inclusion within the workplace. Through a range of strategic initiatives and specialized programs designed to support and develop women leaders, the Bank has significantly increased the number of women in leadership and supervisory positions.

Enhancing the representation of women in leadership and providing them with opportunities to engage in critical decision-making is a key strategic priority for global institutions. This is especially important as women increasingly contribute to addressing social issues, helping to foster an environment that supports sustainable development and generates a lasting positive impact on society.

NBK RISE is an inspiring initiative that goes beyond the bank’s efforts, extending to several leading organizations in Kuwait that have signed the pledge to increase the representation of women in leadership roles. This collective commitment reinforces their determination to work together to achieve the goals of this global program.

NBK RISE has earned prestigious recognition, including awards from Euromoney Magazine and the Society for Human Resource Management (SHRM), along with MEED Magazine’s award for “Best Initiative for Women in Business”.

Kuwait: NBK Academy Celebrates Graduation of Wave 29

National Bank of Kuwait (NBK) celebrated the graduation of NBK Academy’s Wave 29 of newly hired employees who successfully met admission criteria for this intensive course specially designed for Kuwaiti fresh university graduates.

The graduation ceremony was attended by Mr. Omar Bouhadiba, CEO of International Banking Group at National Bank of Kuwait, Mr.  Mohammed Al-Othman, CEO - Consumer and Digital Banking Group, Mr. Mohammad Al-Kharafi, COO - Head of Group Operations and Information Technology, Mr. Emad Al-Ablani, GM - Group Human Resources, Mr. Ahmed Bourisly, GM – Corporate Banking Group, Mr. Jad Zakhour, GM - Head of Treasury Group, and Mr. Hisham Al-Nusif, GM - Consumer Banking Group, along with a number of NBK’s executives and officials.

The program lasted for 7 months, during which fresh graduates from different majors received intensive training on technological, behavioral and other skills that allow them to build a sustainable career at NBK.

The course covered various areas of banking principles, such as design thinking and increasing productivity, training on creativity, innovation, and digital trends in the banking sector, in addition to banking business, and comprehensive understanding of all NBK groups and departments.

The participants presented new ideas to the heads of different departments within the “Innovation Challenge” program, which aims to stimulate trainees’ creativity and ability to generate innovative solutions for the various training aspects covered in the Academy.

The program included various Blended Learning interventions through in-person and virtual courses in addition to on-site training at different departments to better understand work nature in the banking sector.

On this occasion, Maryam Al-Nasrallah, Talent Management Manager, Group Human Resources at National Bank of Kuwait, said, “NBK Academy program embodies the bank's strategy of investing in the human capital by preparing young national banking leaders who are qualified as per the latest and best international standards to sustain the bank's successful story over many decades.”

“With a legacy of success spanning over 16 years, NBK Academy is a program specifically designed for university graduates with the aim of recruiting, developing and empowering newly graduated national talent to join the banking sector,” she added.

“NBK maintains its leadership in the private sector in terms of attracting, training, upskilling national talent and qualifying them to join the banking sector. The bank also stands out as the employer of choice for national professionals, with the highest Kuwaitization and employee retention ratios across the private sector,” she explained.

The Academy reflects NBK’s vision to foster sustainable human capital development as one of its top strategic priorities and a shared responsibility between the various governmental institutions and the private sector.

It is worth mentioning that the content of NBK Academy program is regularly enhanced to keep pace with the latest trends in banking, and administrative sciences.

Launched in 2008, the Academy aims to pave the way for fresh Kuwaiti graduates to join the banking services sector by providing them with the best training programs developed in cooperation with leading international institutions and universities to meet the demands of the labor market.

Kuwait: NBK Launches the “NBK Pioneers Program” for High Potential Employees in the Sales Channels

As part of its continuous endeavors to enhance the career development of its human resources and support them in building a successful career, National Bank of Kuwait (NBK) has launched a talent management training program titled “NBK Pioneers Program”, to develop and enhance the leadership skills of its employees and help them advance in their careers, which ensures high-quality human capital being the bank’s most valuable asset.

The new program announced in a ceremony held yesterday at NBK’s headquarters and will run for 6 months until May 15, 2025, specifically targets high potential and high performing employees, especially in customer-facing divisions including Domestic Branches Division, Direct Sales Division, Call Center, Business Banking. The material in this program is much varied and intense in order to cover all opportunities and dimensions that they will face in their careers including soft and technical skills, which will reflect positively on their performance and qualify them to play a greater role in the bank’s success and growth in the future.

NBK’s partners in delivering the NBK Pioneers program include a number of local and international training institutions including: Lifelong, CODED, Trusted Advizor, Mawaarid, Scotwork, and Euromoney.

This learning journey prioritizes experiential learning and ensures that Pioneers learn by experiencing rather than passively. Covering various themes throughout their journey which include several topics related to Impact Skills, Digital Transformation, Technical Skills, Leaderships Skills, Interpersonal Skills, and innovation.

The program also addresses key topics including, but not limited to Self-marketing, AI in Retail Banking, Mega Trends In Technology, Fraud Prevention, Advanced Selling Skills, Business Etiquette, Leading High Performing Teams, Generation Gap And The New Tech Savvy Customer- amongst many others.

Talent Development

Commenting on the launch of the NBK Pioneers Program, Mr. Emad Al-Ablani, GM - Group Human Resources at National Bank of Kuwait, said, “Launching this program comes in light of the growing needs and demands of skills and talents in the banking sector, and as part of NBK’s efforts to develop and upskill its high potential employees, and to qualify them to take on leadership roles in the future.” 

“The journey of Group Human Resources with the development of NBK employees is a continuing process that begins with attracting high-caliber talent to join the bank, continues with enhancing their skills and developing their performance through various training programs and workshops, and culminates with qualifying them to take on leadership roles in the bank through specialized training programs,” he elaborated.

Unique work environment

“NBK stands out with a unique work environment, akin to international peers, raising the slogan “More Than a Workplace” by continuously providing employees with exceptional career development opportunities. This includes diverse training and development programs delivered in cooperation with leading local and international educational institutions to develop their professional as well as their personal skills,” he noted.

“This unique work environment makes NBK an employer of choice for fresh graduates and increases employees’ loyalty, reflecting the bank’s firm belief that the success of any organization is dependent on diverse and high-quality talent,” he added.

It is worth mentioning that investing in human capital is instrumental in NBK’s culture and strategy to achieve its goals. The bank also stands out among Kuwaiti banks and companies in terms of attracting national talent from fresh graduates and providing them with suitable job opportunities.

Kuwait: NBK Continues On-site Visits to Review Work Progress in Shuwaikh Beach Development Project

As part of its on-site visits to review work progress in Shuwaikh Beach Development and Beautification Project spanning an area of 1.7 km, National Bank of Kuwait (NBK) organized a visit to the project location yesterday to follow up implementation, six months after starting construction works.

The visitors were headed by Mr. Isam Al-Sager, Group Vice-Chairman and CEO of National Bank of Kuwait, Sheikh Abdullah Salem Al-Ali the Capital Governor.

During the tour, the visitors reviewed the progress made since starting the project’s construction works in early May, as work is underway, with the entire project set to be completed within 11 months, i.e. by the end of March 2025, after which Shuwaikh Beach will be ready to welcome visitors with its new look. So far, the project has reached an impressive completion rate of 40%.

The current development works includes the complete rehabilitation of the project's entire infrastructure over 1.7 km, including rainwater drainage system, sewage and electricity networks, as well as installation of 360 LEED lampposts and advanced surveillance cameras.

In line with the bank's efforts to promote sustainability, about 14 tons of recycled tire materials were used in the construction of the running track that along the length of the project.

It is worth mentioning that NBK signed a cooperation agreement with Kuwait Municipality, under which the bank committed KD 3 million for the development and renovation of Shuwaikh Beachfront to serve all visitors’ needs, with a focus on providing high quality and highly efficient modern facilities, in a way that fosters sustainable health, sports and entertainment in Kuwait.

The tour emphasized the importance of continuous communication between all stakeholders to ensure the realization of a common vision towards the development of Shuwaikh Waterfront, to be a key tourist destination that meets the needs of the community and contributes to the well-being of its visitors, whether Kuwait citizens, residents or visitors.

NBK’s contribution to this project comes within its efforts to promote sustainable development of Kuwait’s economy, and to serve the implementation of Kuwait Vision 2035, which underscores the importance of developing tourism and entertainment sector in the Country.

NBK is committed to supporting Kuwait’s national initiative to promote environmental, social and economic prosperity, in line with the Country’s recent pledge to become carbon neutral by 2060 by progressing towards its environmental goals and supporting the banking sector’s endeavors to accelerate the transition to a carbon-free economy.

The project includes 4 integrated main areas providing all the needs of beachgoers, while being eco-friendly to help reduce carbon emissions and environmental impact, reflecting NBK’s unwavering commitment to environmental sustainability on the one hand, and pioneering corporate social responsibility on the other hand

Area 1: includes playgrounds and entertainment areas, as well as a large green areas allowing for outdoor activities, in addition to restoration of the mosque, restrooms, and commercial kiosks within the project. The area also includes future work sites for a number of kiosks, ATMs and ITMs.

Area 2: includes an extended sandy beach area with wooden benches in the middle.

Area 3: includes a walled garden with green landscape and dense trees providing large, shaded areas for relaxation and meditation amidst serene atmosphere.

Area 4: includes the project’s starting point and interactive giant checkers game, in addition to large green spaces that allow for outdoor activities and multi-use spaces.

NBK has fostered corporate social responsibility culture as a cardinal principle for serving the community at large. To this end, it contributed large investments in social support, and introduced many meaningful programs in areas including education, healthcare, training and recruitment of national talent, social support and welfare programs as well as environmental and sports initiatives.

NBK follows its practice in launching and sponsoring a variety of meaningful social initiatives in the fields of healthcare, childcare, social development, environment, sports and awareness, thus strengthening its position as a leading socially responsible corporation that strives to promote sustainable development in line with Kuwait National Development Plan.

Kuwait: Al-Bahar: Developing Kuwait’s Education System is a Top National Priority

Shaikha Al-Bahar, Deputy Group CEO of National Bank of Kuwait, emphasized that developing the education system is one of the most critical challenges impacting the future of Kuwait’s economy, as  bridging the talent gap, essential to the national economy, is deeply tied to the quality of education provided to our youth.

During the third edition of the MoneyTech Aljarida Summit held yesterday at the Grand Hyatt Kuwait Hotel, in partnership with National Bank of Kuwait, Al-Bahar explained that the current educational system in Kuwait does not adequately align with the rapidly evolving needs of the private sector, noting that for decades, educational outcomes have primarily aimed at preparing individuals for public sector employment, necessitating a comprehensive transformation to align with the new economic goals our country aspires to achieve. 

She also highlighted that the current education system lacks emphasis on areas that meet the demands of today’s global economic landscape, noting that this traditional educational approach restricts the focus on critical areas such as innovation, entrepreneurship, digital literacy, and science and technology, which are becoming increasingly vital in today’s economy. 

Al-Bahar also stressed that there is an urgent need to equip teachers with training in new educational technologies, including digital learning.

Investing in Education

“Although Kuwait's educational expenditures averages about 5% of GDP—exceeding the global benchmark of around 4% seen in education-leading countries like  the United States, the United Kingdom, and Germany, the outcomes have fallen short of expectations,” Al-Bahar stated. She also noted  that universities and research institutions in Kuwait are often perceived as lagging in innovation, quality, and advanced research output.  

“Simultaneously, there is a need for substantial reforms in the labor market to encourage citizens to pursue employment in the private sector,” Al-Bahar added, noting that the World Economic Forum consistently highlights the increasing demand in fields such as AI and machine learning, projecting that these sectors will generate nearly 100 million new jobs by 2025. 

Al-Bahar stressed that by adjusting the curriculum in Kuwait accordingly, the country can position its future workforce at the forefront of these emerging industries.

Al-Bahar stated that the reform process must encompass curriculum development, teaching methodologies, private sector involvement, and comprehensive school assessment systems. She highlighted that each of these areas is crucial in shaping Kuwait's future workforce, equipping it with the skills and knowledge necessary to foster a diversified, knowledge-based economy.

Furthermore, she emphasized the urgent need to enhance internal and vocational training programs across various sectors, engage the private sector in educational planning and curriculum development, and establish collaborative training initiatives. This approach aims to ensure that the skills imparted in educational institutions can be directly applied in the workplace.

Bankee

In this context, Al-Bahar highlighted NBK's initiative through the Bankee program, which seeks to improve awareness and financial literacy among school students in Kuwait. The program has experienced remarkable success since its launch and currently benefits approximately 15,000 students.

Research & Development

Al-Bahar emphasized the necessity of developing a vision to enhance spending on research and development as a percentage of GDP. She highlighted the importance of devising a strategic plan to elevate Kuwait's position in international research and innovation rankings and advocated for forming partnerships with leading universities and global research institutions. Additionally, she called for a focus on critical areas essential for diversifying the economy, such as renewable energy and information technology.

“Enhancing Kuwait's ranking in global education quality indicators must be established as a national goal, prioritizing educational development for both the government and the private sector. Fostering human capital is vital for achieving economic diversification. The core benefit of this reform lies in developing a workforce prepared for the demands of the twenty-first century, with a strong focus on skills like programming, data analysis, and entrepreneurship,” She noted.

Female Representation

Al-Bahar emphasized the pressing necessity for strong female participation in the development process, noting that achieving this goal demands genuine efforts to tackle their underrepresentation in both higher education and professions within the fields of science, technology, engineering, and mathematics (STEM).

She explained that the statistics highlight the severity of this issue, as only around 30% of female students in higher education opt for STEM related fields. Additionally, women account for merely 29.2% of the total workforce in these areas.

Al-Bahar emphasized that STEM education is crucial for fostering a more socially equitable and economically inclusive future. These fields provide the foundation for developing the critical thinking and problem-solving skills essential for advancing progress toward the Sustainable Development Goals (SDG).

She noted that the underrepresentation of women in this domain results in a significant loss of talent, diversity of thought, and experience, which are vital for fostering innovative ideas. Research indicates several factors contributing to this gap, including stereotypes, peer pressure, and the absence of female role models. These influences can cause girls to feel that STEM is not a domain for them, even when they excel in these subjects.

"Therefore, I believe it is essential to address this issue head on by debunking stereotypes surrounding STEM careers through early childhood education. The private sector also has a critical role to play in creating opportunities for gaining work experience and fostering an inclusive work environment to help retain young women in these fields," she stated.

NBK RISE

Al-Bahar pointed out that NBK has made a significant contribution to empowering women in leadership through the NBK RISE program, which aims to support and strengthen women leaders in achieving top positions. This initiative involves several Kuwaiti private sector organizations collectively signing a pledge to enhance women's representation in leadership roles, reaffirming their commitment to work together to achieve the goals of this global program.

Al-Bahar concluded her remarks at the MoneyTech Summit by stating, "I assure you that we will not relent in our unwavering commitment to advocating for and contributing to the development of our educational system. We firmly believe that this is a vital investment in Kuwait's future, enabling us to cultivate a more skilled workforce, foster a more competitive economy, and ensure a prosperous future for generations to come."

Key Figures:

• The average public expenditure on education in Kuwait is 5% of GDP, exceeding the global average of 4%.

• Approximately 30% of female students in higher education select fields related to STEM.

• Women account for only 29.2% of the total workforce in STEM fields.

• By 2025, artificial intelligence and machine learning are expected to generate nearly 100 million new jobs.

Kuwait: NBK Delivers a Session Highlighting Latest Forms of Fraud to Kuwait Technical College Students

As part of its ongoing efforts to promote financial and banking awareness among all sectors under the umbrella of the “Let’s Be Aware” campaign introduced by the Central Bank of Kuwait, in cooperation with Kuwait Banking Association (KBA), National Bank of Kuwait (NBK) delivered a session highlighting the latest forms of fraud to the students of Kuwait Technical College (K-Tech).

During the session, NBK Social Media team presented highlighted the latest forms of fraud that students should be aware about, emphasizing the importance of customer online safety and the key steps to protect against scams. The team also advised students to be cautious when dealing with suspicious e-mails, as e-mail phishing is typically made using the logos of well-known organizations such as banks, telecom or big companies, so that the user cannot distinguish between real and fake e-mails.

The team also shared key tips to follow when dealing with e-mails, including always verifying that the e-mail sender is from a legitimate organization, as well as checking the grammar and spelling in the e-mail, as many phishing e-mails are poorly written, which, of course, would not be sent by an official, well-known organization. They also advised customers to beware of links included in e-mails, by always checking the source before clicking these links.

Students were also advised to always question unexpected emails, messages, or phone calls before sharing personal or financial information, as scammers typically use AI in communications to trick target victims into believing they are from apparently local numbers.

They also stressed that the bank will never ask customers for personal information through phone calls, warning them of responding to these calls which are scams to obtain their banking or sensitive information to steal their money.

The team also called to strengthen security with Two-Factor Authentication (2FA) to add an additional safeguard to online accounts, as well as to always check bank accounts for any suspicious transactions or activities.

In addition, they urged students to stay updated on fraud tactics and keep learning about the evolving methods scammers use to trick people and understand how to avoid them by following the tips shared on the bank’s digital channels, as especially in view of the emerging deepfake scams, NBK intensifies awareness by sharing educational content across its social media platforms, as well as reposting CBK’s communications.

NBK’s team always seeks to promote financial and banking awareness among all sectors of society, including school and university students as well as seniors. It is also keen to introduce new innovative ways to enhance the content of the “Let’s Be Aware” campaign and help educate the public on how to protect their banking accounts and information.” 

Such visits give the opportunity to help students understand the types of fraud and the new schemes used by scammers to trick victims. These sessions also help students make safer financial decisions in the future, especially in view of the fast-paced digital advancement and banks’ reliance on cutting-edge technologies and artificial intelligence, making customers rely on smartphones for the majority of their banking transactions.

As one of the leading financial institutions across the region, NBK firmly observes its responsibilities towards the communities it serves. It has also been initiative-taking in providing all necessary support to important and strategic campaigns, which serve the interests of the national economy and society at large. In this context, the bank’s efforts to combat fraud and educate customers are instrumental in its strategy.

NBK employs its strong customer communication capabilities as well as all its sector-leading digital channels to maximize the exposure of the “Let’s Be Aware” campaign’s objectives among the public.

Launched by the Central Bank of Kuwait, in cooperation with Kuwaiti banks and Kuwait Banking Association (KBA), the “Let’s Be Aware” campaign is the largest across the GCC region focusing on raising banking and financial awareness among banks’ customers. The campaign covers a variety of crucial topics including: anti-fraud tips, maximizing benefit from banking services, promoting savings and investment culture, as well as other related topics.

It is worth mentioning that NBK is a key promoter and partner in all CBK’s campaigns and initiatives to increase financial and banking awareness among all sectors. As the leading financial institution in Kuwait, the bank frequently organizes various activities to raise awareness on all topics related to the banking sector.

Kuwait: NBK Hosts a Workshop on ‘FinTech’ for College of Business Administration Students

As part of the activities of the ‘NBKConnect’ program, National Bank of Kuwait (NBK) organized a workshop for the College of Business Administration students on ‘FinTech’ and the role of advanced technologies in developing the banking business, underscoring its dedication to enhancing the capabilities of Kuwaiti youth in technological areas.

The workshop aims to highlight the innovations brought about by technology in the financial sector such as e-payments, data analytics, artificial intelligence and information security. It also seeks to familiarize students with the majors required by banks need in the future, especially with the rapid digital advancement, and the need for banks to keep pace with it to improve their service quality.

The workshop focuses on the mechanisms of digital banking systems, AI, Big Data, IT Security, Robotics, Programming, and Cybersecurity, as these majors are the future of the financial services industry, making them essential for students seeking to to explore the future of the banking industry.

This workshop was attended by a number of College of Business Administration students with a passion for technology and digitization, who were provided with detailed information the majors relevant to the banking sector and the skills required to be developed to stand out as compelling candidates in the future work market.

Commenting on this, Gadeer Al-Kooheji, Head of Talent Acquisition - Group Human Resources at National Bank of Kuwait said: “This workshop represents an effective educational tool that help enhance students' capabilities and develop their practical skills to enable them face the challenges of the rapidly changing labor market.’

“This workshop represented a unique opportunity for the College of Business Administration students to foster their creativity and critical thinking capabilities, explore their career options. It also provides them with the necessary knowledge and skills that help them understand the nature of the banking business in light of the disruptive technologies adopted in the financial sector,” she noted.

Al-Kooheji emphasized that NBK makes unwavering efforts to extend all means of support to students to enhance their skills and knowledge to serve as a key source of talent for public and private sector organizations in the future, thus contributing to promoting a sustainable national human capital across all sectors.

It is worth mentioning that NBK is committed to attracting, training and upskilling high-caliber national talent and qualifying them to join the banking sector, in line with New Kuwait Vision 2035 which aims to promote Kuwaitization in the private sector. In addition, the bank has highest employee recruitment and retention rates, and the private sector employer of choice for Kuwaiti fresh graduates.

Kuwait: NBK Named Market Leader in Digital Payment Acceptance

National Bank of Kuwait (NBK) received the "Market Leader in Digital Payment Acceptance" Award at the Mastercard EDGE Forum 2024 in Dubai.

This award acknowledges NBK as a leader in the digital payments space, recognizing its role in shaping the future of commerce and financial services. Mastercard grants this distinction to financial institutions that demonstrate exceptional leadership in promoting digital payment adoption, strengthening merchant networks, and delivering innovative, customer-centric payment solutions. 

NBK’s broad range of payment acceptance solutions enable merchants to grow and thrive in the digital economy where they benefit from secure, efficient payment options that enhance customer experiences and improve business operations. 

With its forward-looking digital roadmap, NBK has established itself as a leader in bringing advanced payment solutions to market, becoming the first bank in Kuwait to launch Apple Pay. NBK further expanded its offerings with the introduction of fully digital wallets, including Google Pay, Samsung Pay, Fitbit Pay, and Garmin Pay.

With a strategic focus on building an agile and inclusive payments ecosystem, NBK remains committed to delivering excellence for customers, merchants, and partners. This award strengthens its resolve to continue innovating, expanding its digital footprint, and contributing to the economic prosperity of Kuwait.

A New Milestone

This latest accolade reflects the dedication and collaboration of the entire NBK team, whose relentless efforts allow the bank to adapt and innovate in a rapidly changing financial environment. The recognition from Mastercard also reflects NBK’s commitment to enabling seamless, secure and inclusive payment experiences, underscoring employees’ hard work and customers’ continued trust. 

As NBK continues to push the boundaries of innovation, it remains focused on supporting businesses in their journey toward digital transformation and contributing to a more connected financial ecosystem in Kuwait.”

NBK’s Roadmap

NBK has a comprehensive roadmap for payment solutions, and the bank's commitment to developing advanced payment solutions is a vital strategic initiative aimed at delivering the best cutting-edge technologies to the broader market and to the bank's clients in particular.

NBK operates the largest network of branches and ATMs in Kuwait, featuring 72 branches. The bank also offers the most extensive portfolio of credit and prepaid cards in the country, designed to accommodate the diverse lifestyles of its customers. 

NBK customers can swiftly and easily complete their banking transactions at any time through the bank's digital channels, with the NBK Mobile Banking App leading the way. The bank continually enhances and updates this platform to align with the evolving needs and aspirations of its customers.

Kuwait: NBK Delivers a Comprehensive Session about the “Let’s Be Aware” Campaign to UAS Students

In line with its ongoing efforts to promote financial and banking awareness among all sectors, National Bank of Kuwait (NBK) is delivering a series of sessions at a number of private schools and universities to introduce the “Let’s Be Aware” campaign to students and familiarize them with different scams and required precautions to avoid them.

NBK’s team started this series with a visit to the Universal American School (UAS) during which they delivered a comprehensive session that included a detailed explanation of the campaign’s objectives and topics. The team also provided tips and advice to avoid scams that may occur within the course of daily transactions such as online shopping, using bank accounts, or clicking fake ads on social media.

NBK team advised students to be cautious when dealing with suspicious e-mails that may impersonate well-known banks or organization by using their logos, by not clicking any attached links, and avoiding communication with unknown parties, as these messages and communications may target stealing banking or personal information, so it is crucial not to disclose any banking information to any person or entity.

NBK affirmed that it will never ask customers for personal information via e-mail, SMS or phone calls, warning of responding to such messages representing fraud attempts to steal banking or sensitive information or money.

The team called to enable two-factor authentication (2FA), which adds an extra layer of security, as well as to keep a close eye on bank statements and transaction history, to identify any suspicious or unauthorized activity.

They also called the students to keep always updated on fraud tactics and keep learning about the evolving methods scammers use to trick people and understand how to avoid them by following the tips provided across the bank’s digital platforms, as scammers tend to employ new methods using AI techniques. Therefore, NBK is intensifying the awareness content published on its pages, in addition to reposting the Central Bank of Kuwait’s related communications.

Speaking on this, Farah Bastaki, Manager, Digital Communications at National Bank of Kuwait said, “We are always aim to spread financial literacy among all sectors, and this visit is an opportunity to help students understand the types of fraud and how to protect personal information and make safer financial decisions in the future.”

“Through these visits, we aim to scale up efforts to build financial awareness among the young generation, especially as this generation greatly relies on digital banking. Early education on scams and protection methods can minimize potential risks and promote financial stability,” she added.

Bastaki stressed that NBK employs its strong customer communication capabilities as well as all its digital platforms, which are the most popular among all Kuwaiti banks, to ensure the widest exposure for the “Let’s Be Aware” campaign objectives.

Introduced by the Central Bank of Kuwait, in cooperation with Kuwaiti banks and Kuwait Banking Association (KBA), the “Let’s Be Aware” campaign is the largest across the GCC region focusing on raising banking and financial awareness among banks’ customers. The campaign covers a variety of crucial topics including: anti-fraud tips, raising awareness on high-risk investments, maximizing benefit from banking services, promoting savings and investment culture, as well as other related topics.

It is worth mentioning that NBK is a key supporter and partner in all CBK’s campaigns and initiatives to increase financial and banking awareness among different sectors. As the leading financial institution in Kuwait, the bank frequently organizes various activities to raise awareness on all topics related to the banking sector. 

Kuwait: NBK the Only Kuwaiti Bank in Global Finance’s List of the World’s 100 Safest Banks for 2024

‘The Bank You Know and Trust’ is not just a slogan raised by National Bank of Kuwait (NBK), but a strategy and approach adopted over long decades, until it became a culture embedded in all its business activities. Acknowledging this, Global Finance magazine has recently named NBK among the World’s 100 Safest Banks for 2024, being the only Kuwaiti bank on the list, and ranking 83rd globally, demonstrating the trust placed in the bank worldwide.

Global Finance rankings are based on collective long-term credit ratings from Moody’s, Standard & Poor’s and Fitch Ratings. Safest Banks rankings are considered as one of global standards to compare the reliability of banks across the world and trusted metric to aid readers in their decision-making processes regarding which bank they deal with.

NBK’s inclusion in the list of the World’s 100 Safest Banks underscores its brand strength as well as sustaining growth and innovation, while continuing to expand its footprint across key regional markets by offering innovative banking services that cater to the needs of customers regardless of their geographical location.

NBK boasts a long record of achievements and global recognitions that endorse its excellence on all levels. Acknowledging the pivotal role of its employees in this excellence, the bank regards them as its most valuable asset, and always seeks to develop them and raise their efficiency by offering them the best training and development programs.

Thanks to its strategy and the unwavering dedication of its employees to implement it, NBK has been able to maintain its solid business foundations and strong financial position, thus continuing to collectively enjoy one of the highest credit ratings among most major banks of the Middle East from the top three international credit rating agencies: Moody’s, Fitch and Standard & Poor’s.

NBK's long-term ratings are A1 from Moody's, A+ from Fitch, and A from Standard & Poor's.

The bank also stands out with a broad global geographical footprint, with branches and subsidiaries covering key regional and global financial and business capitals in China, Geneva, London, Paris, New York and Singapore, in addition to its regional presence in Lebanon, Egypt, Bahrain, Saudi Arabia, Iraq and the UAE.

Founded in 1987 and headquartered in New York, Global Finance is one of the most reputable magazines specialized in finance and economics. It has a circulation of 50,000 readers in 193 countries, including senior corporate and financial officers responsible for making investment and strategic decisions at multinational companies and financial institutions.

The magazine conducts various surveys annually about innovation and profitability for banks and financial institutions all over the world, based on which it selects top performers on the regional and international levels.

Kuwait: Al Bahar Highlights AI as a Key Enabler Driving Banking Growth and Empowerment

The Future Investment Initiative (FII) held in Riyadh hosted a panel discussion on the rapidly evolving financial landscape, the crucial roles of traditional banks, AI, and FinTech in defining the future of the banking industry. Shaikha Al-Bahar, Deputy Group CEO of National Bank of Kuwait (NBK), participated in the panel discussion, offering her valuable insights.

The panel discussion themed “Can Traditional Banks Compete with AI and Fintech Disruptors?", included leading international figures from financial services and technology, explored the challenges and opportunities that AI, FinTech, and traditional banks face as they seek to coexist—or outcompete—in the digital age. In a world where financial technology is changing the rules of the game, Shaikha Al-Bahar provided brilliant insights into how NBK is not only keeping pace with these innovations but also leading the charge.

Redefining the Banking Landscape

"Fintech has been labeled a 'revolution' in banking, but the data tells a more nuanced story," Shaikha Al-Bahar opened the discussion. "Despite billions of dollars in investments, not a single FinTech company ranks among the top 250 global banks. The reality is that FinTech isn't a revolution that will replace traditional banking. Rather, it challenges us to evolve."

Al-Bahar pointed out that, contrary to popular belief, the banking industry's business model has proven remarkably resilient, withstanding multiple disruptions over the past decade. She emphasized that traditional banks, including NBK, are integrating new technologies to enhance rather than replace core banking functions.

"The progress we've seen from the digital era isn’t about FinTech replacing us," she continued. "It's about integrating digital innovations into a more comprehensive and inclusive business model. At NBK, our digital transformation allows us to build on the solid foundation of traditional banking while leveraging technology to enhance customer experiences."

Collaboration vs. Competition: Banks and FinTechs in the New Financial Ecosystem

The panel discussed whether traditional banks and FinTech companies are destined to compete or collaborate. Al-Bahar argued that the future of banking will be defined not by head-to-head competition, but by cooperation.

"Banks and FinTechs have historically competed for customers, but we are entering an era of collaboration," she remarked. "Traditional banks have the financial capacity, while FinTechs have agility and innovation. The key is finding the right balance between these strengths. It's not about one outdoing the other, but about leveraging each side’s advantages."

As a case in point, Al-Bahar referenced NBK’s own digital bank, Weyay. "We at NBK operate both our traditional bank and Weyay, a fully digital bank. Both operations complement each other and interact seamlessly, providing a unique, customer-centric journey. That is the real revolution in banking."

Navigating the Balance of AI within Banking Frameworks

As the panel discussion shifted to the role of AI, the conversation turned to the immense potential and risks associated with artificial intelligence in the financial industry. Banks have already invested billions in AI-powered systems for fraud detection and risk management, but concerns remain about whether AI might introduce new vulnerabilities into the system.

"AI is a great enabler—it allows banks to analyze vast amounts of data, recognize patterns, and simulate scenarios," Al-Bahar explained. "But while AI enhances our capabilities, we must ensure that it does not make us complacent. Human oversight is critical. Technology recommends, but humans must decide."

Al-Bahar highlighted the importance of transparency and accountability in AI systems, stressing that while AI can provide powerful insights, banks must ensure that these insights are based on real, verifiable data. She cautioned against an overreliance on AI, noting, "We cannot let AI be the sole decision-maker. It’s crucial to have a pilot behind the wheel, to monitor, review, and intervene when necessary."

Transforming Banking from the Inside

While much of the FinTech discussion focuses on customer-facing applications, Al-Bahar offered a compelling argument that the true potential of AI lies behind the scenes—in back-office operations, regulatory compliance, and capital allocation.

"At NBK, we’ve automated over 100 processes using Robotic Process Automation (RPA), and the results have been remarkable. AI and machine learning don’t just make processes more efficient; they redefine them, allowing us to be more responsive and dynamic."

She noted that AI could revolutionize risk management by continuously learning from new data points and adjusting risk profiles in real-time. This, she believes, is where AI’s most transformative impact will be felt in banking—areas where rule-based, data-driven tasks can be optimized for greater accuracy and speed.

The Balancing Act Between Regulation and Innovation

The panel also addressed the complex relationship between innovation and regulation. In a rapidly evolving industry, governments are struggling to keep pace with technological advancements. Al-Bahar argued that regulators are playing a crucial role in safeguarding the financial system while supporting innovation.

"Regulators have been quick to recognize the importance of digital technologies in banking," she said. "Many have created 'sandboxes'—safe environments for testing new FinTech solutions. However, I believe regulators' primary role should remain that of protectors of the financial system. Banking is highly regulated for good reason—its role in the global economy is critical, and any disruptions can have far-reaching consequences."

Embedded Finance: Will the Bank Brand Become Irrelevant?

Another intriguing topic was the rise of embedded finance—the integration of banking services into non-banking platforms. With more companies offering financial services through digital ecosystems, some have predicted that "bank as a brand" may become obsolete. Al-Bahar was quick to point out that traditional banks still have a vital role to play.

"This new model works well on a smaller scale—like payment wallets and transfers—but banks will remain the backbone of the financial system. Embedded finance is just another example of how the industry is evolving to meet changing customer demands. Banks will need to adapt by developing their own technologies or partnering with FinTechs to provide these services."

She also pointed out that some digital banks are reverting to traditional models, opening offline branches and offering human-based customer service to enhance growth—a sign that even FinTech leaders recognize the value of traditional banking services.

Leading the Change Through A Holistic Approach to Innovation

Finally, the panel addressed the leadership challenge facing traditional banks. Al-Bahar argued that to remain competitive in an era of rapid technological change, banks must go beyond simply investing in technology—they must transform their organizational culture.

"Industry leaders need to foster a culture of innovation that permeates the entire organization. It’s not just about adopting digital technologies, it’s about aligning every decision-making process with a digital mindset, from junior staff hires to strategic planning at the executive level."

Al-Bahar also emphasized NBK's leadership in digital transformation, expressing immense pride in the bank's accomplishments.

“Our journey towards integrating digital technologies while preserving the stability and trust of traditional banking is a testament to our commitment to providing the best for our customers," Al-Bahar noted.

Looking forward to 2030, Al-Bahar concluded with a bold prediction: "The CEOs who strike the right balance between traditional banking and Fintech agility will define the future of the industry. Success will depend on being able to adapt, innovate, and evolve—without losing sight of the core values that have made traditional banking such a pillar of the global economy."

Kuwait: NBK Signs Four Strategic Agreements Valued at $1.6 billion at the FII 8th Edition

National Bank of Kuwait (NBK) is proud to announce the signing of several landmark agreements on the sidelines of the prestigious 8th Edition of the Future Investment Initiative (FII), with a total value of SAR 6.2 billion (approximately $1.6 billion). These agreements underscore NBK’s commitment to playing a pivotal role in contributing to Saudi Arabia’s Vision 2030, as the bank continues to expand its presence across the Kingdom. By partnering with leading industry players, NBK strengthens its reputation as a trusted financial partner dedicated to supporting the Kingdom’s ambitious economic transformation and infrastructure development.

The signing ceremony was attended by Mrs. Shaikha Al-Bahar, Deputy Group CEO of National Bank of Kuwait, Mr. Zaid Isam Al-Sager, Deputy CEO - International Banking Group, Mr. Meshari Hamad Bin Salamah, Deputy General Manager, Head of International Corporate & Commercial Real Estate, International Banking Group at NBK, Mr. Anas AlUbaid, General Manager of NBK -KSA, and Mr. Qais Al-Ateeqi, Unit Head - MENA Corporate Banking at NBK.

These strategic partnerships, which span various sectors ranging across financial leasing, infrastructure development, and energy projects, highlight NBK’s proactive approach in driving sustainable growth and fostering key collaborations. With a deep understanding of Saudi Arabia's evolving economic landscape, NBK tailors its innovative financing solutions to align with the national agenda. The bank’s long-standing commitment to the region, combined with these high-impact agreements, not only reinforces NBK’s market position but also enhances its contribution to the Kingdom’s infrastructure development goals.

Strategic Partnerships

Among the agreements reached, NBK has signed a Framework Agreement with ACWA Power, valued at SAR 2.6 billion (approximately $690 million). This strategic partnership is designed to support ACWA Power’s ongoing expansion initiatives within Saudi Arabia and beyond. ACWA Power is the world’s largest private water desalination company, the first mover into green hydrogen, and a leader in energy transition. The company operates in 13 countries across the Middle East, Africa, Central Asia, and Southeast Asia. NBK is committed to facilitating ACWA Power’s efforts to address the increasing energy and water resource demands of the MENA region, reinforcing its dedication to sustainable development and innovation in these critical sectors.

In addition, NBK has established a Credit Facility Agreement with AlGihaz Contracting Company valued at more than SAR 1.8 billion (approximately $480 million). This agreement aims to bolster AlGihaz’s working capital requirements as it continues to deliver critical infrastructure projects. Specifically, NBK is financing one of three contracts that Al-Gihaz is utilizing to support it with executing on the development of the world’s largest energy storage project in the Kingdom, with a capacity of up to 7.8GWh.  With over 45 years of experience, AlGihaz is a specialized contracting company renowned for its engineering, design, and construction capabilities.

Furthermore, NBK signed a Credit Facility Agreement with the Pan-Kingdom Holding Group, including Saudi Pan-Kingdom Company (SAPAC) and Pan-Kingdom Real Estate (PKRE), amounting to over SAR 1 billion (approximately $267 million). This agreement is intended to support the group’s working capital and investment needs. With more than 30 years of experience, Pan-Kingdom Holding Group operates across various sectors, including construction, manufacturing, operation and maintenance (O&M), transportation, water, real estate development, investment, among other activities, thereby driving the Kingdom’s economic growth and advancing its strategic development goals.

Lastly, NBK signed a Credit Facility Agreement with Alyusr Leasing and Financing Company totaling SAR 750 million (approximately $200 million). This partnership aims to enhance Alyusr’s financing activities to meet the increasing demand in the Kingdom. Alyusr is a leading financing and leasing company licensed by the Saudi Central Bank, specializing in consumer and commercial financing.

Commitment to Strategic Development

NBK’s IBG has developed a strong presence in the region, with a team of over 300 seasoned corporate bankers across 11 countries. In Saudi Arabia, NBK has established a strong corporate banking footprint with over 30 corporate bankers, collaborating with some of the Kingdom’s largest and most reputable clients across both the government and private sectors.

As a key player in the financial landscape of the Kingdom, NBK is dedicated to facilitating economic growth and diversification in line with Vision 2030. The bank’s agreements with key local and international players underscore its commitment to supporting major infrastructure and energy projects that will shape the future of Saudi Arabia.

International Banking Group: A Pioneer in Global Expansion

National Bank of Kuwait's (NBK) International Banking Group (IBG) stands as a testament to the bank's commitment to serving its customers beyond local borders. Established as the first national bank in the GCC and one of the first regional banks to expand internationally, NBK initiated its international expansion in the early 1980s. This strategic move marked the beginning of a journey that has since seen the Group extend its reach to 13 countries across four continents, with coverage extending to 50 countries across the world.

NBK employs over 6,000 staff globally, reflecting its diverse operations across Asia, Europe, North America, and the Middle East. The Group's journey in Saudi Arabia commenced in 2006 with a single branch operation in Jeddah, which has since expanded to three branches in Jeddah, Riyadh, and Khobar.

IBG, which comprises overseas branches and subsidiaries, serves as a vital pillar of NBK Group's growth. The strength of this network is reinforced by the Group’s regional and international expertise, alongside a steadfast commitment to maintaining the highest banking standards. With a focus on enhancing customer experience, IBG is dedicated to generating substantial value for its clients.

The Group's international operations play a critical role in bolstering NBK Group's revenues. In the first half of 2024, these operations contributed 24% of the Group’s net operating income, 23% of profits, and an impressive 40% of total assets. These figures highlight the robustness of the Group's operational performance and underscore the success of its diversification strategy.

As NBK continues to expand its international footprint, IBG remains integral to its mission of providing exceptional financial services and innovative solutions to clients around the globe. 

Through this strategic international approach, NBK is well-positioned to navigate the complexities of the global financial landscape while delivering unparalleled value to its customers.

Kuwait: Al Bahar: Reforms to Foster a Robust Economy with Increased Private Sector Participation in Line with Kuwait Vision 2035

Shaikha Al-Bahar, Group Deputy CEO of National Bank of Kuwait, conveyed optimism about the robust outlook for Kuwait’s economy and anticipated improvements in the business environment in the near term. She highlighted that a stable political climate is expected to positively influence decision-making, thereby accelerating government spending on infrastructure projects.

In an interview with Bloomberg TV on the sidelines of the Future Investment Initiative (FII) conference in Riyadh, which launched yesterday, Al-Bahar stated, "With the National Assembly dissolved, decision-making now rests solely with the government, streamlining the process. We see that the government is genuinely committed to advancing economic reforms and launching mega projects, particularly in infrastructure, which will positively impact Kuwait’s economy."

Al-Bahar highlighted the notable surge in project awards recently, noting that approximately $6 billion worth of projects have been awarded in 2024, with an additional $5 billion expected to be awarded in the near term. This activity opens up opportunities for both international and local companies, stimulates the lending environment, and drives overall market growth.

Al-Bahar emphasized that the reform trajectory is on the right track, paving the way for a real economy and significantly expanding opportunities for private sector contributions. These efforts align with Kuwait’s Vision 2035, which prioritizes private sector participation in driving economic development.

IPOs

Al-Bahar highlighted the momentum in Kuwait's IPO and listing market, stating, "We are now witnessing a framework for Public-Private Partnership (PPP) projects, with companies emerging from these collaborations moving towards initial public offerings and stock exchange listings. This approach will contribute to enhancing capital market activity."

"I believe that many family businesses will opt for listing, driven by their interest in establishing better governance and clearer strategic direction." Al-Bahar added, expressing optimism about increased activity in family business listings, given the positive climate in Kuwait.

Boubyan and Gulf Bank 

Commenting on the ongoing merger discussions between Boubyan Bank and Gulf Bank, Al-Bahar stated, "As the largest shareholder in Boubyan Bank, NBK supports this initiative. However, our endorsement is contingent upon the merger providing added value for our shareholders. A final assessment of the transaction’s viability will follow the recently initiated due diligence process."

Al-Bahar also highlighted that NBK holds a unique position among Kuwaiti banks by offering both conventional and Islamic banking services, aiming to further expand its Islamic banking offerings through Boubyan Bank.

Navigating a Lower Rates Environment

Al-Bahar emphasized that while the downward trend in interest rates presents challenges for banks profitability, it also stimulates increased borrowing, particularly by large corporations amid expanding business activities. This uptick in borrowing could help to counterbalance the pressure on bank earnings created by the low-interest rate environment.

The Saudi Market

Al-Bahar highlighted NBK’s strategic interest in the Saudi market, emphasizing that NBK, as a global bank with a strong presence in diverse markets, is currently concentrating on the GCC region—particularly Saudi Arabia, which stands out as one of the most significant growth markets for NBK Group’s international operations.

She noted that NBK caters to a wide range of sectors within the Saudi economy, serving government-related entities, large corporations, and family-owned businesses. Additionally, the bank has established robust relationships with numerous clients across various sectors in the Kingdom.

Al-Bahar emphasized that NBK Group is actively pursuing the growth of its wealth management business in the Kingdom through NBK Wealth. The bank is also focused on expanding its offerings to clients by introducing a range of funds and other wealth management services.

Furthermore, she highlighted that NBK is actively engaged in this year's edition of the FII taking place in Riyadh, represented by a significant delegation. Throughout the conference, the delegation held numerous meetings and successfully concluded several financing agreements with prominent Saudi companies across various sectors, underscoring the bank's strong commitment to supporting Saudi Vision 2030. 

Besides the Saudi market, NBK is also focused on the Egyptian market, which is one of the Group's key growth areas.

Geopolitical risks

On the topic of geopolitical risks and their implications for the economies of the GCC region, Al-Bahar remarked that these challenges are not unfamiliar to the area. She underscored that, despite the increasing tensions, the macroeconomic impacts have predominantly remained confined to the countries directly engaged in the conflict.

Al-Bahar highlighted that the circumstances for GCC countries are unique, as they consistently demonstrate resilience in navigating crises, particularly through government support provided to various economic sectors during challenging times. 

She referenced the support provided by the Government of Kuwait during the COVID-19 crisis, which involved postponing and easing restrictions for banks and SMEs. She also highlighted the enactment of legislation to guarantee bank deposits during the global financial crisis of 2008.
 

Kuwait: Al Bahar: Inclusion and Gender Equality are the Cornerstones of Comprehensive and Sustainable Economic Growth

National Bank of Kuwait (NBK) Group took a leading role in advocating for women’s empowerment in the financial sector at the 8th edition of the Future Investment Initiative (FII), themed "Infinite Horizons: Investing Today, Shaping Tomorrow". Representing NBK Group, Ms.Shaikha Al-Bahar, Deputy Group CEO, and a longstanding champion of gender equality and women empowerment, engaged in a thought-provoking panel discussion in Riyadh, focusing on the critical importance of gender diversity and inclusion in driving sustainable economic growth.

Fostering Dialogue on Gender Diversity

The panel served as a vital platform to address the multifaceted challenges and opportunities surrounding women's empowerment in finance. It aimed to spark discussions on the significance of gender diversity, the role of inclusive practices in shaping economic sustainability, and innovative approaches necessary to dismantle barriers that have historically hindered women's advancement in the industry. Additionally, the discussion sought to convey a powerful message to future female leaders, drawing from the insights and experiences of leading champions in the field.

Reflecting on the historical context of gender bias in finance, Al-Bahar remarked, "We’ve all faced skepticism in a male-dominated field, but it's time we turn those doubts into opportunities." She acknowledged the significant barriers women have faced, citing various research work that revealed  the gender gap still exists "We’ve come a long way, but the past still casts a long shadow," she emphasized, highlighting the ongoing need to dismantle these biases.

Navigating a Transforming Landscape

Transitioning from historical challenges, Al-Bahar addressed the evolving environment within the finance sector. "While challenges like pay inequity and lack of mentorship remain, we’re witnessing a transformation," she stated. "The finance sector is beginning to understand that diversity isn't just a nice-to-have; it's a business imperative." She highlighted initiatives like NBK RISE as exemplary models for fostering female leadership and creating pathways for women to excel in their careers. 

This program is uniquely designed to drive community impact by advocating for increased representation of women in leadership roles, inviting external organizations to join in signing a pledge to elevate women into leadership positions within their institutions. "It’s about building bridges, not walls," she remarked, underlining the importance of collaborative support in achieving gender equity. Furthermore, NBK RISE promotes inclusivity by sponsoring participants from various backgrounds, enabling them to cultivate a diverse network of women equipped with the necessary skills for success in senior roles. Crafted by women who understand the distinct challenges faced at different career stages, the program ensures authenticity and relevance in addressing real issues. Additionally, creative communication strategies have been implemented to raise awareness about the gender gap, fostering a more supportive environment for women’s leadership in the finance sector.

The Impact of Women's Leadership 

Al-Bahar underscored the pivotal role women play in enhancing firms' investment strategies. "When women lead, they bring unique perspectives that can drive innovation," she said, referencing studies indicating that mixed-gender investment teams outperform male-only teams by over 1.4% annually. “It’s not just about equity; it’s about performance,” she asserted, showcasing the tangible benefits of gender diversity in investment contexts.

Delving deeper, Al-Bahar discussed the advantages of female leadership in risk management. "Women often adopt a more conservative, long-term approach, prioritizing stability and sustainable growth," she noted, citing independent research showing that portfolios managed by women had a 20% lower turnover rate. "We’re not just managing risks; we’re crafting legacies," she emphasized, aligning this insight with NBK's commitment to ESG principles.

The panel also highlighted the significant economic impact of empowering women in the workforce. Al-Bahar pointed to surveys indicating that equal employment rates in the MENA region could lead to a 30% increase in GDP. "Investing in women isn’t just a social responsibility; it’s an economic strategy. Imagine the growth if we unleashed our collective potential!" she exclaimed, advocating for gender equity as a driver of economic progress.

Women as Trailblazers in High-Growth Sectors

Al-Bahar further underscored the vital contributions of women in high-growth sectors such as FinTech, healthcare, and clean energy. "Women aren’t just participants in the market; we’re trailblazers shaping the future," she asserted. 

At organisations like NBK, women have taken the lead on projects focused on cross-border investments, effectively tapping into new markets and diversifying portfolios, aligning with global trends that see women leaders spearheading innovative and sustainable investment strategies. 

NBK actively supports the inclusion of women in STEM fields, with approximately 27.8% of STEM-related roles held by women as of 2023. This dedication to gender diversity not only empowers women but also positions NBK as a regional leader in fostering an inclusive environment, paving the way for future female leaders in the industry.

The Democratizing Effect of FinTech

The discussion also touched on the democratizing effect of FinTech platforms like Robinhood and Coinbase in attracting women to finance. "These platforms have broken down barriers and made investing accessible for everyone, especially women," Al-Bahar stated. With 40% of new sign-ups on Robinhood being women, she remarked, "This is a seismic shift in how we engage with finance. We're turning the tide."

Examining Gender Diversity Through a Social Lens

Finally, Al-Bahar addressed the influence of government policies on gender diversity in finance. "While cultural norms can pose challenges, they also offer unique opportunities for tailored accessibility," she explained. She pointed to Saudi Arabia's Vision 2030 and Kuwait's "New Kuwait 2035" vision as examples of initiatives aimed at increasing female workforce participation. "Change is a process, but every step we take brings us closer to equality," she stated.

The panel concluded that the discussion at the Future Investment Initiative highlighted the critical importance of gender diversity, viewing it as more than just a moral obligation; it is essential for fostering sustainable economic growth. Al-Bahar aptly summarized, "In finance, as in life, diversity is the key to innovation and success. Together, we can reshape the future and create an inclusive landscape where everyone can thrive."

Driving Positive Change

As a frontrunner in the banking sector, NBK remains steadfast in its commitment to ESG principles, recognizing their integral role in fostering sustainable development. By prioritizing responsible banking practices and championing initiatives that empower communities and support environmental stewardship, NBK not only enhances its operational resilience but also contributes to the broader goal of creating a sustainable future. Al-Bahar’s leadership exemplifies this dedication, reinforcing the bank’s mission to drive positive change within the financial landscape and beyond.  

Kuwait: NBK Concludes its Participation in the Annual Meetings of IMF and the World Bank Group

The official delegation representing National Bank of Kuwait (NBK) has concluded its participation in the annual events and meetings organized by the Board of Governors of the International Monetary Fund (IMF) and the World Bank Group, which took place in Washington, D.C. from October 21st to 26th.

The delegation was headed by Mr. Isam Al-Sager, Vice Chairman and Group CEO, alongside Mr. Omar Bouhadiba, CEO of International Banking Group, and Mr. Nassif Chehab, Head of Financial Institutions Division, as well as Mr. Rani Selwanes, General Manager of NBK - New York.

The Annual Meetings discussed key economic and financial challenges in addition to various topics including public debt, fiscal sustainability, and economic growth, climate finance, scaling up climate finance. Furthermore, the meetings tackled international trade issues and the impact of geopolitical tensions on the global economic landscape.

On the sidelines of the IMF Meetings, NBK’s delegation conducted numerous bilateral meetings with high-ranking international officials, which focused on addressing key current challenges in the global banking and financial industry.

The delegation also joined the reception ceremony hosted by Kuwait Banking Association (KBA) last Friday in Washington, D.C., under the patronage of Mr. Basel Al-Haroon, the Governor of the Central Bank of Kuwait. The event was attended by Mrs. Noura Al-Fassam, Minister of Finance, Minister of State for Economic Affairs and Investment, and Acting Minister of Oil, and Sheikha Al-Zain Al-Sabah, Ambassador of Kuwait to the United States, along with governors of Arab central banks, chairmen of Kuwaiti banks, Kuwaiti banking leaders, and a number of international economic and financial personalities.

The event featured interactions between bankers from Kuwait and their counterparts from Arab and foreign regions, facilitating discussions on the latest financial and banking developments and the exploration of potential collaborations in the fields of finance and investment.

NBK’s delegation also joined the dinner banquet hosted by Sheikha Al-Zain Al-Sabah, Ambassador of Kuwait to the United States, attended by Mrs. Noura Al-Fassam, Minister of Finance, Minister of State for Economic Affairs and Investment, and Acting Minister of Oil, and Mr. Basel Al-Haroon, the Governor of the Central Bank of Kuwait, along with Kuwaiti banking leaders.

One of the significant highlights of this year's meetings for the official bank delegation was their participation in a symposium organized by the G30, held concurrently with the annual meetings of the IMF and the World Bank Group. Every year, central bank governors from around the world convene with industry leaders and academic experts at a symposium focused on addressing the most pressing financial and systemic challenges facing the global central banking community.

The bank's delegation also took part in meetings organized by the Institute of International Finance (IIF), where a range of topics were discussed. These discussions covered global challenges, including interest rate reduction cycle, financial markets volatility, global geopolitical tensions, and strategies aimed at bolstering the resilience of the banking industry while fostering sustainable and broadly inclusive economic growth.

The IMF and the World Bank Group Annual Meetings brought together governors of central banks, ministers of finance and development, parliamentarians, private sector executives, civil society, and academics to discuss issues of global concern. These meetings encompass a wide array of activities, including seminars, regional briefings, press conferences, and numerous other events dedicated to addressing topics related to the global economy, international development, and the global financial system.

The 2024 Annual Meetings also covered a range of key topics including the strategies for establishing economic resilience in the face of a weak global economy and heightened uncertainty. Policymakers explored ways to build a more resilient future by reinforcing social safety nets to safeguard the most vulnerable segments of society, enhancing governance and accountability, strengthening policy frameworks, and addressing the challenges posed by climate change.

The Annual Meetings feature several significant committees, with the most notable ones being the Development Committee, the International Monetary and Financial Committee (IMFC), the Group of Ten, the Group of Twenty-Four, and the Group of Thirty. The IMFC meeting, in particular, tackled evaluating the current state and potential future trends in the global economy's performance, as well as examining developments in international financial markets and the types of risks that could impact these performance trends.

During its Annual Meetings, the International Monetary Fund conducted a comprehensive assessment of the global economic outlook. This review encompassed the insights IMF’s experts regarding trends in the global economic performance, expected risks, and the prospects of the world economy.

Kuwait: Capital Governor Sheikh Abdullah Salem Al-Ali Participates in NBK Run 2024

Capital Governor Sheikh Abdullah Salem Al-Ali Al-Sabah will participate in the NBK Run, scheduled to take place on December 14th, which is considered the largest sporting event in Kuwait of its kind in Kuwait given the massive participation and extensive media coverage.

During a visit by a team from NBK to the Capital Governorate headquarters to present the NBK Run race kit to Sheikh Abdullah Salem Al-Ali, the Capital Governor expressed his appreciation of NBK’s leading social responsibility contributions, and its constant dedication for 30 years, by organizing the NBK Run, to cultivate positive values promoting a healthy and sporting lifestyle being a prerequisite for building a healthy community.

The Governor praised NBK’s efforts in fostering national directions towards sustainable development in health and sports, in line with Kuwait Vision 2035, pointing out that NBK stands as a role model for delivering social responsibility and supporting sustainable development in all fields.

Al-Ali pointed out that NBK’s commitment to organize this race every year underscores deep historical ties with the Kuwaiti community, as the first and oldest homegrown bank in Kuwait, which was founded by a group of Kuwaiti merchants more than 70 years ago, and has now evolved to be Kuwait’s leading financial institution in and among the largest banks in the region.

On their part, NBK team stated that The NBK Run 2024 will be different from previous versions, as there will be greater collaboration from strategic partners who will provide valuable prizes for the winners, participants as well as spectators.

They also added that the new version of the NBK Run will witness a qualitative leap by adding the special needs category in 3 groups: “Wheelchairs, Blind and Prosthetics users”. This aims to mainstream those individuals to become active players in the future.

Commenting on this, Abdul-Mohsen Al-Rushaid, AGM, Head of Digital Communications at National Bank of Kuwait, said, “We always aim to strengthen our position as Kuwait’s most socially responsible bank. NBK Run is an integral part of our growing contributions to advance sustainability in line with Kuwait's economic plans and vision for the future.”

“We have long-standing solid relationships with major organizations and companies across all sectors, as we always strive to join efforts to serve the community and spread awareness about the importance of sports and its role in promoting public health,” he added.

“NBK seeks to magnify its social impact and always prioritizes investing in community development by supporting and sponsoring meaningful events and initiatives,” he noted.

NBK has already opened early registration for the 2024 NBK Run starting from September 18th until all slots are filled.

The race will start at 8:30 a.m. on December 14th, featuring two distances, both beginning and ending at Kuwait Towers. The 10 km route will proceed towards Souq Sharq, then turn and follow the Gulf Road, reaching 200 meters before the intersection with Green Island, before returning to Kuwait Towers.

The second distance of the race is 5 km, starting from Kuwait Towers and heading towards Souq Sharq. Competitors will then turn and continue running until they reach the intersection at Kuwait Army Club.

The race will honor the top three winners in both the men’s and women’s 10 km categories with cash prizes of KD 1,000, KD 700, and KD 500, respectively. The top three winners in the men’s and women’s 5 km categories will receive KD 500, KD 400, and KD 300, respectively.

It is worth mentioning that NBK organizes a variety of social events and initiatives every year, demonstrating its prominent role and its consistent approach to community development. These initiatives include a wide range of social, humanitarian, charitable, educational, sporting and environmental events that aim to serve the community and contribute to its development.

Kuwait: NBK Participates in “Watheefti”, Kuwait’s Largest Career Fair

Underscoring its dedication to supporting national talent starting their career, National Bank of Kuwait (NBK) participated in “Watheefti”, the largest career fair in Kuwait.

The fair was held from October 17th to 19th with the participation of many major organizations, companies and brands. It aims to open direct communication channels between companies and job seekers to discuss job opportunities, in addition to encouraging graduates to navigate their way into the labor market.

NBK’s participation in this fair reflects its commitment to fulfilling its social responsibility and its historical role in supporting the Kuwaiti economy by recruiting and upskilling national talent in order to prepare a new generation capable of taking over leadership positions in the future.

NBK was the first organization in Kuwait to revolutionize recruitment, during its participation in Watheefti Career Fair last year, using Augmented Reality (AR) and 3D glasses to provide an experience that fully simulates the work environment at the bank’s headquarters.

In addition, NBK’s Talent Acquisition Department has integrated sustainable practices into the recruitment process by conducting virtual interviews using digital platforms to streamline the recruitment process and minimize the carbon footprint, in line with the bank’s environmental sustainability goals.

On this occasion, Gadeer Al-Kooheji, Head of Talent Acquisition, Group Human Resources at National Bank of Kuwait said: “We are constantly striving to reinforce our position as the top private sector supporter of national talent by attracting, developing and upskilling them to qualify them to join the vital banking sector,” she said.

“Our strategic priorities are to build a bank that is always ready for the future with highly qualified cadres to ensure sustainable growth,” she added.

“NBK enjoys a unique work environment akin to international peers, which raises the slogan “More Than a Workplace” to foster employee physical and mental well-being,” she noted.

NBK stands out as one of the employers of choice that promote diversity and equal opportunities. It also has the highest national employee retention rates while striving to boost Kuwaitization in the banking sector to support the national economy, in line with Kuwait Vision 2035,” she explained.

“NBK not only provides job opportunities at a leading local and regional financial institution, but also a promising and sustainable career path, thanks to its world-class professional training resources and programs, which help develop the skills and capabilities of the youth. This goes in line with the bank’s vision of investing in national talent and as well as its job nationalization “Kuwaitization” objectives.

NBK’s efforts in national talent acquisition go in line with its development and training plans to invest in national cadres and prepare a promising banking generation. The bank also offers a wide range of training courses and professional academic programs, being one of the leading banking institutions in Kuwait in organizing training programs for the youth.

It is worth mentioning that NBK annually sponsors many career fairs for the Kuwaiti youth to introduce to them suitable job opportunities that meet their aspirations. The bank also provides consistent support to all career fairs that help the youth and fresh graduates in finding the right job.

Kuwait: Al-Sager: Kuwait on the Right Track to Drive Economic Growth

Mr. Isam Al-Sager, Group Vice-Chairman and CEO of National Bank of Kuwait (NBK) stated that the Group’s net profit growth remains mainly driven by core banking business. 

In his interview with Al Arabiya TV, on the sidelines of the Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) in Washington, D.C. joined by NBK, Al-Sager mentioned: “NBK posted strong net interest income growth for 9M2024 on the back of growth in volumes, relatively higher interest rates, and operating efficiently to control operating costs and cost of risk.”

“Our net interest income for the nine-months period reached KD 733.7 million, boosting by 10.2% over 2023, whereas net operating income reached KD 931.0 million, growing by 7.8% year-on-year.”

“The cost of risk was 34bps during 9M2024, mainly resulting from lower credit loss and impairment provisions, while remaining committed to our conservative approach in managing credit exposures,” he noted.

“As regards asset quality, NPL ratio generally improved to reach 1.39% of total credit portfolio as at end of December 2024, whereas loan loss coverage ratio increased to 263%,” he added.

Lower interest rates 

On the impact of the rate cut cycle on banks' net margins during 4Q2024 and next year, Al Sager said, “It is true that margins come under pressure with low interest rates, but we must keep in mind that the increased volume of business activities resulting from the low interest rate environment may offset these pressures, as the declining rates will encourage lending, especially by large corporates.”

“NBK is hedging against interest rate movements through its diversified business model and increased focus on fee business, and we expect net margins for 2024 to be largely stable, probably a few basis points higher than last year's levels,” he explained.

“As for 2025, the frequency and size of rate cuts globally remains uncertain, and its impact will be felt more clearly in the coming quarters,” he added.

On a question about the possibility of a change in demand for lending due to the declining lending cost, Al-Sager replied: “For corporate lending, lower interest rates are expected to support credit growth, but this is also conditional on a favorable macroeconomic and business environment and accelerated project awards, which combined will provide a greater momentum for private sector lending. On the retail side, we expect to see a gradual increase in demand for retail loans with each rate cut.”

Saudi Market

On NBK’s operations in Saudi Arabia, Al-Sager emphasized that Saudi Arabia as a key and strategic market for the Group’s international operations where we offer our services to diverse clientele that includes GREs, large corporations, and family-owned businesses.

“The Group seeks to increase its presence in the wealth management business through NBK Wealth, in addition to expanding its offerings to customers through funds and other wealth management services.

As regards NBK's targets and growth expectations in Saudi Arabia, Al-Sager said that they will be in line with the bank's conservative approach, noting that NBK has been present in the Saudi market for a long time and serves large corporations and GREs, which align with the Group’s conservative approach and risk management practices.”

“We operate currently in KSA through 3 branches, in Riyadh, Jeddah and Eastern Province and target further expansion in the Saudi market.”

On a question about whether NBK- KSA intends to expand in the Saudi market through acquisitions, Al-Sager said, “Whenever we have a suitable acquisition opportunity, we will consider it seriously. We are not looking for acquisitions for the sake of acquisitions, but we seek opportunities that maximize returns for our shareholders.”

Egyptian Market

As for the Egyptian market, Al-Sager said that it is currently stable, which proves NBK's optimism about the market's huge potential and promising opportunities.

“The Egyptian economy has recently benefited from the reforms aiming to attract more foreign inflows and the government's closing of several foreign investment deals, which restored confidence in the economy and the Egyptian currency,” he explained.

Regarding NBK-Egypt, Al-Sager stated, “We maintain a very healthy loan portfolio in terms of asset quality, while the cost of risk at the end of 1H2024 in Egypt was below 1% (0.56% exactly), and NPL to total loans ratio stood at 1%. So, at this stage, we are not concerned about the credit quality of our loan portfolio in Egypt.”

“Our operating performance in Egypt remains among the most profitable locations for the Group with promising returns, while NBK-Egypt seeks opportunities to grow its contribution to the Group, which stands at around 5% of total assets and profits,” he highlighted. 

Boubyan and Gulf Bank Merger Negotiations

On the merger negotiations between Boubyan Bank and Gulf Bank, Al-Sager said, “As the majority shareholder in Boubyan Bank, we are supportive of the discussions. But our support is not unconditional, like all our previous transactions historically, we should find shareholder value creation in this transaction.”

“So far, the potential transaction makes sense from a strategic point of view as it is in line with NBK Group's diversification agenda and strengthens its position in the local market by expansion in Islamic banking through Boubyan Bank.”

“There are steps that have started recently such as the due diligence process, and there is a long list of regulatory and market requirements, and once these are completed, we will be able to reach a final assessment of the feasibility of the transaction,” he continued.

Project Awards

Al-Sager said he is optimistic about the business environment and the project award market in Kuwait, especially in light of the strong activity witnessed by the project market during the third quarter of this year compared to the recent past years, expecting this momentum to continue in the remainder of 2024 as well as into 2025.

He pointed out that the suspension of parliament had so far led to a simplification of the decision-making process, as the decision is now solely in the hands of the government. Therefore, we no longer have that entanglement of decision-making, which will reflect positively on the long-awaited economic reforms.

“Several projects were delayed for years and now we can say we are getting out of the bottleneck and Kuwait is on the right track to drive economic growth with a government-backed consensus to prioritize major development projects, and promote Kuwait as an attractive investment hub by passing a set of long-awaited key laws to support economic reforms. We remain optimistic to witness serious steps towards promoting the private sector’s role in propelling development,” he said. 

“We think that our optimistic look about starting economic reforms and improving business environment in Kuwait in the coming period will be supported by actual steps on the ground,” he stressed.

Fiscal Reforms

On whether the fiscal reforms likely to be undertaken by the government, especially those related to current spending, will impact consumer spending and credit in Kuwait, Al-Sager said: “We need to look at the bigger picture as Kuwait needs reforms to support the transition to a dynamic and diversified economy, and to achieve that goal, there is a need for significant reforms to address fiscal imbalances on the public spending side.”

“Kuwait has been experiencing modest growth of the non-oil economy since the pandemic, which requires changes in the composition of public spending with an increased focus on capital investments, to bridge the performance gap with neighboring economies,” he explained.

Al-Sager expected that the impact, if any, of implementing current spending reforms on consumer credit would be temporary, and that the momentum would be quickly restored, as the consumer credit sector in Kuwait is strong, resilient, and highly dynamic.

Kuwait: NBK Joins the Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) in Washington, D.C.

In a reflection to its unwavering commitment to advancing international collaboration and knowledge exchange in finance and economics, National Bank of Kuwait (NBK) is participating in the Annual Meetings held by the International Monetary Fund (IMF) and the Board of Governors of the World Bank (WBG). These high-level discussions are held in Washington, D.C. starting from yesterday until October 26th.

NBK’s delegation is headed by Mr. Isam Al-Sager, Vice Chairman and Group CEO, alongside Mr. Omar Bouhadiba, CEO of International Banking Group, and Mr. Nassif Chehab, Head of Financial Institutions Division, as well as Mr. Rani Selwanes, General Manager of NBK - New York.

The delegation will take part in the Annual Meetings, focusing on discussions regarding significant economic and financial challenges. Key topics on the agenda include exploring how do governance reforms promote economic growth and social inclusion.

On the sidelines of the meetings, NBK delegation will attend the Group of Thirty’s seminar, an exclusive annual gathering of central bank governors, senior official and executives of the financial sector, as well as academics. The seminar provides a platform to address the most pressing financial and systemic challenges facing the global central banking community. Additionally, the delegation will participate in the Institute of International Finance (IIF) Annual Membership Meeting.

The delegation will also take part in a joint reception ceremony hosted by Kuwait Banking Association (KBA) for senior international banking leaders on the sidelines of the meetings. 

This event will be attended by Kuwaiti banking leaders, heads of international banks, as well as officials from European and Arab central banks, along with a large number of international public figures and decision makers. Additionally, the delegation will attend a reception hosted by the Ambassador of the State of Kuwait to the United States of America.

This year's annual meetings will discuss several important topics, including public debt, fiscal sustainability, and economic growth, by assessing financial risks and analyzing growth indicators in member countries and ways to promote sustainable development. Furthermore, the meetings tackled international trade issues with the continued disruption of shipping traffic in the Red Sea and the impact of geopolitical tensions on the global economic landscape.

Discussions will also address the issue of climate change, how climate change affects the economy and fiscal policies, and means of cooperation between countries to face this existential challenge. Key topics on the agenda also include digitization and innovation, as well as the impact of modern technologies and artificial intelligence on financial markets and the global economy.

NBK’s delegation will hold bilateral meetings with senior international officials on the sidelines of the Annual Meetings of the IMF and the World Bank. Those discussions will focus on some of the key and pressing issues and current challenges that the banking and financial industry has been facing around the world.

The IMF and the World Bank Group Annual Meetings bring together central bankers, ministers of finance and development, parliamentarians, private sector executives, civil society, and academics to discuss issues of global concern. 

The Annual Meetings feature several significant committees, with the most notable ones being the Development Committee, the International Monetary and Financial Committee (IMFC), the Group of Ten, the Group of Twenty-Four, etc. The IMFC meeting, in particular, is slated to tackle a range of critical issues including the current state and potential future trends in the global economy's performance, as well as examining developments in international financial markets, and other pressing issues.

Kuwait: NBK to Participate as a Strategic Partner in the Future Investment Initiative (FII) Conference in Riyadh

National Bank of Kuwait (NBK) is participating in the eighth edition of the Future Investment Initiative (FII 8th Edition) with a high-level delegation. The event will take place under the Royal Patronage of the Custodian of the Two Holy Mosques, King Salman Bin Abdulaziz Al-Saud, at the King Abdulaziz International Convention Center in Riyadh, from October 29 to 31. 

NBK's role as a strategic partner in the conference aligns with this year's theme, "Infinite Horizons: Investing Today, Shaping Tomorrow." The focus of this edition is on developing new strategies to tackle global challenges, exploring Africa's role in the global economy, and developing women's leadership in both internal structures and practical investment initiatives.

The NBK delegation is headed by Ms. Shaikha Al-Bahar, Deputy Group CEO, and Mr. Zaid Al-Sager, Deputy Head of the International Banking Group, representing IBG. Joining them are Mr. Meshari Bin Salamah, Deputy General Manager and Head of International Corporate & Commercial Real Estate within the International Banking Group, as well as representatives from NBK’s international branches and subsidiaries. Additionally, Mr. Faisal Al Hamad, Chief Executive Officer of NBK Wealth, Mr. Malek Khalife, CEO - Global Private Banking &Switzerland, and Mr. Musaad Al-Sudairy, Board Member and CEO of NBK Wealth – Saudi Arabia, will be present, along with several senior executives from the bank.

During the conference, Deputy Group CEO Ms. Shaikha Al-Bahar will engage in several key panel discussions alongside senior bankers from around the globe. These discussions will focus on critical topics such as women's leadership in driving global economic growth, as well as competition with AI and FinTechs. Furthermore, Mr. Faisal Al-Hamad, Group Chief Wealth Officer at NBK, will participate in a panel dedicated to the financial industry’s role in prioritizing social impact.

The Bank's delegation will hold a series of bilateral meetings with senior international officials at its pavilion during the conference. Alongside these discussions, the delegation will sign several agreements. Additionally, the Bank will host a reception bringing together officials, investors, and senior bankers to explore the latest developments in the financial and banking sectors and to discuss potential opportunities for collaboration in finance and investment.

 The conference is anticipated to draw over 5,000 attendees and feature 500 speakers covering a wide range of contemporary topics. With more than 200 sessions planned, discussions will focus on economic stability, equitable development, climate change mitigation, as well as artificial intelligence, innovation, health, and geopolitical issues.

Discussions at the conference will be data-driven, ensuring that insights are rooted in facts and actionable strategies. Through its annual gathering, the Future Investment Initiative Institute aims to foster dialogue on how investment can serve as a catalyst for a prosperous and sustainable future, expanding the possibilities for what can be achieved for humanity.

The 8th Edition of the FII 2024 Conference aims to transcend limitations and unlock boundless opportunities for advancement. Discussions will center on transforming investment into a catalyst for a prosperous and sustainable future, inspiring attendees to think beyond traditional boundaries and explore investment opportunities that bridge current gaps with future potential.

NBK has recently entered into a strategic partnership with the Future Investment Initiative (FII), a global non-profit organization committed to fostering growth and innovation in investment both regionally and internationally, aimed at creating a positive impact on humanity.

NBK is dedicated to actively participating in international forums to remain abreast of the latest developments in the global economy, international development, and the global financial system. This commitment reflects the bank's strategic focus on understanding and adapting to the evolving landscape of global finance and economic trends.

Kuwait: NBK Sponsors “TAMAKAN” Training Program for Fresh Kuwaiti University Graduates For the Sixth Consecutive Year

National Bank of Kuwait (NBK) sponsors “TAMAKAN” training program for fresh Kuwaiti graduates, as part of the strategic partnership with “Creative Confidence” for the sixth consecutive year.

The online registration for TAMAKAN” program continues through www.creativeconfidence.co/tamakan/  until 2 December 2024.

The program is an innovative training experience especially tailored for fresh Kuwaiti university graduates. It aims to support young Kuwaiti graduates to develop their skills, expand their capabilities and grow their knowledge in a way that will make them compelling candidates for employment. 

NBK will be hosting the program and providing a real business challenge that participants will work on into the final stages of the training sessions. The program will start on 11 December till 13 February 2025. TAMAKAN is a full-time commitment for 10 weeks, 5 days a week, from 8:00am-4:00pm. 

Executive Manager, Head of Public Relations and Event Management at NBK, Talal Al Turki, said, “NBK’s sponsorship and participation in the program comes as a part of its strategic partnership with Creative Confidence. NBK is dedicated towards supporting talented young graduates and empowering Kuwaitis”

 “TAMAKAN” is one of these initiatives that help invest in promising youth talents. NBK is looking forward to the outcome of the program and to seeing the participants moving into key leadership roles in their near future,” he added.

“NBK believes that investing in human resources is investing in our future. TAMAKAN program goes along with NBK’s initiatives to invest in Kuwaiti youth and support their aspirations,” Al Turki noted. 

In her turn, the Founder and Managing Director of Creative Confidence, Rana Al Resheed expressed her sincere thanks to NBK for their continuous support to TAMAKAN. “We are proud of this strategic sponsorship that results in supporting and investing in the Kuwaiti youths” 

She added that graduates will gain real, relevant work experience and develop their skills to help them start their careers. They will get exposed to the latest methods and tools that will help them in designing solutions and shaping ideas in any field.

TAMAKAN Program offers recent graduates a unique development opportunity before starting their first job. TAMAKAN is organized by Creative confidence in collaboration with NBK. Creative Confidence is a Kuwaiti based consulting and training company that specializes in creativity, innovation and collaboration.

Kuwait: NBK Reports Net Profit of KD 457.0 Million for 9M2024

National Bank of Kuwait (NBK) has announced its financial results for the nine-month period ended 30 September 2024.The Bank reported a net profit of KD 457.0 million (USD 1.5 billion), compared to KD 431.1 million (USD 1.4 billion) for the corresponding period in 2023, improving by 6.0% year-on-year.

In the three-month period ended September 30, 2024, NBK achieved a net profit of KD 164.6 million (USD 540.1 million), demonstrating an annual growth rate of 5.7%.

Total assets as of the end of September 2024 grew by 6.3% year-on-year to reach KD 39.2 billion (USD 128.5 billion), whereas total loans and advances increased by 6.2% year-on-year to KD 23.2 billion (USD 76.0 billion). Likewise, customer deposits stood at KD 22.4 billion (USD 73.5 billion) as of the end of September 2024, reflecting a 7.1% increase compared to the same period in 2023, while shareholders' equity grew by 6.2% year-on-year, totaling approximately KD 4.0 billion (USD 13.1 billion).

The Bank's asset quality also showed significant improvement, with NPL/gross loan ratio declining to 1.39% while the NPL coverage ratio increased to 263%.

Strategic Diversification

Commenting on the Bank’s 9M2024 financial results, Hamad Al-Bahar, NBK Group Chairman, said: "Throughout the first nine-months of 2024, the Group continued to capitalize on the benefits of its strategic diversification approach across its products, services, and geographic presence. This approach has strengthened our operating performance and driven net profit growth, despite the surge of regional and global geopolitical tensions and their broader economic implications."

Al-Bahar elaborated that NBK achieved solid growth, driven by a diversified and resilient business model that effectively navigates shifting operating conditions. He emphasized that this level of growth was underpinned by prudent risk management practices, a strong capital base, high asset quality, and robust liquidity.

Sustainable Development

NBK continued to strengthen its leadership in sustainability throughout the first nine-months of 2024, building on its sound record in environmental, social, and governance (ESG) practices. The Bank remains dedicated to fostering sustainable development within the communities it operates, while actively supporting the reach of sustainable financing initiatives to its clients across all locations.

Al-Bahar underscored the robustness of NBK’s financial position, high credit quality and its competitive edge within the Kuwaiti banking sector; given the Group’s expansive geographical footprint and its unique  capability to provide both conventional and Islamic banking services through its subsidiary, Boubyan Bank. Furthermore, Al-Bahar emphasized upon the Bank’s steadfast commitment to fostering sustainable development within Kuwait’s economy while reinforcing its position as the leading corporate in ESG practices. 

Prudence and Resilience 

Meanwhile, Mr. Isam J. Al-Sager, NBK Group Vice Chairman and CEO, said: “The financial results for the first nine-months of 2024 showcase NBK's consistent ability to deliver profit growth through various economic cycles, steered by its resilient business model and prudent approach to risk management”.

Al-Sager highlighted that the Group endorsed further its leading banking brand and position, as its core business segments continue to witness strong growth rates. He noted that the Group's net operating income rose by 7.8% in the first nine-months of 2024, reaching KD 931.0 million (USD 3.1 billion).

Innovative Products

Al-Sager emphasized that NBK remains focused on strengthening its position across key market sectors while broadening its customer base through the introduction of innovative digital products and services, alongside delivering exceptional customer service. He noted that the Bank’s ongoing efforts and investments in technology and innovation aim to reaffirm its stewardship in providing digital banking services that promote sustainable future growth. Additionally, these efforts are designed to maximize value not only for customers and shareholders but also for the communities in which the Bank operates and to all its stakeholders.

He further pointed that NBK Group has significantly strengthened the contributions of its Islamic division, Boubyan Bank, along with its international operations, to both operating income and bottom-line during the first nine months of 2024. This achievement underscores the strength of NBK's vision and the effectiveness of its diversification strategy. He reiterated that the Group will continue strengthening its international operations, particularly in key growth markets.

Relentless Pursuit of Excellence

Al-Sager emphasized NBK's steadfast commitment to fostering a sustainable future through the prioritization of best-in-class ESG practices. He highlighted the bank's strategic focus on integrating sustainability initiatives into its business operations, viewing them as integral to its corporate culture. This approach is designed to support the transition to a sustainable, low-carbon economy and to fulfill the Bank's ambitious objective of achieving carbon neutrality by 2060.

Following the recent launch of NBK Wealth, Al-Sager highlighted that NBK Group is experiencing substantial growth in this segment. The new structure aims to establish the bank as the largest wealth management entity in Kuwait and one of the most significant players in the region.

Credit and Project Award

In discussing local credit performance, Al-Sager emphasized the substantial recent surge in project awards in Kuwait year-to-date. He expressed confidence that this positive trend in project awards will bode well for business credit going forward.

Al-Sager also noted that several factors including the influx of a significant number of citizens into the labor market, are expected to enhance consumer spending and demand for credit on both, the business and retail side. He emphasized NBK's commitment to aligning its strategic objectives with Kuwait's National Development Plan and to playing a pivotal role in financing future mega projects; confirming NBK's position as the government's key partner in financing strategic national projects.  

Prestigious Awards

In the third quarter of this year, NBK reaffirmed its strong banking brand and solid financial position by securing the top spot on The Banker's list of the “Top 100 Arab Banks” for 2024. Additionally, the Bank maintained its ninth position among regional banks. The Banker’s ranking was based on a set of criteria, including Tier 1 capital, total assets, profitability, asset quality, return on capital, and return on assets.

In a further testament to its excellence, NBK has garnered nine prestigious awards from Global Finance, a renowned international publication specializing in finance and business. These accolades recognize the Bank's outstanding achievements in innovation and digital transformation, as well as its commitment to delivering top-tier banking solutions that meet customer needs and align with the rapid technological advancements in the banking sector.

For the second consecutive year, Global Finance has recognized NBK as the "Best in Innovation, Global Winner for 2024”, outranking both conventional and Islamic banks. 

The Bank also secured two prestigious awards in the Middle East: Best in Innovation-Middle East, and Best Online Product Offerings – Middle East. Furthermore, NBK distinguished itself at the local level by winning six out of the ten accolades granted to banks in Kuwait, reinforcing its leadership in innovation and digital transformation.

Key financial indicators for 9M2024

• Net operating income stood at KD 931.0 million (USD 3.1 billion), up 7.8% year-on-year

• Total assets grew by 6.3% year-on-year, at KD 39.2 billion (USD 128.5 billion)

• Total loans and advances increased by 6.2% year-on-year to KD 23.2 billion (USD 76.0 billion)

• Customer deposits grew by 7.1% year-on-year to KD 22.4 billion (USD 73.5 billion)

• Shareholders’ equity amounted to KD 4.0 billion (USD 13.1 billion), registering an annual growth of 6.2%

• Strong asset quality metrics, with NPL/gross loans ratio at 1.39% and an NPL coverage ratio of 263%

• Robust Capital Adequacy Ratio of 16.5%, comfortably exceeding regulatory requirements

Kuwait: Isam Al-Sager Recognized as Kuwait's Top Sustainability Leader and Ranked Third in the Middle East by Forbes 2024

Isam Al-Sager, NBK Group Vice Chairman and CEO, has earned the distinction of being ranked first in Kuwait and third in the Middle East’s banking and financial services sector on Forbes' 2024 Sustainability Leaders list. 

Forbes based its ranking on a comprehensive set of criteria, including the overall impact of sustainability initiatives at both regional and international levels. The evaluation also considered the process of issuing sustainability and ESG reports, with a particular emphasis on transparency and accuracy.

The criteria also encompassed reductions in greenhouse gas emissions, improvements in waste management, and the efficient use of water, energy, and other resources. Additionally, the ranking considered the bank’s reliance on renewable energy sources and the implementation of energy-efficient technologies.

Forbes magazine's ranking highlights NBK’s unwavering commitment to sustainability, positioning it as a role model in this critical area for future generations. It also emphasizes the bank’s dedication to advancing sustainable development in Kuwait and across all the markets in which it operates.

NBK has established itself as a pioneer in sustainability, making significant strides in the areas of environmental, social, and governance (ESG). The bank has introduced a comprehensive Sustainable Financing Framework to support and strengthen its efforts in this domain, embedding sustainability as a core element across its business model, operations, and corporate culture. This approach aligns with Kuwait’s economic vision and facilitates the transition to a low-carbon economy. NBK is also aiming to achieve a sustainable asset portfolio of $10 billion by 2030. 

Furthermore, NBK has taken a leadership role in leveraging the global shift towards sustainable finance by launching a range of green products and services across its branches. These include green mortgages, sustainability-linked financing, consumer loans for electric vehicles, and low-emission housing loans, reinforcing the bank’s commitment to driving the green transformation across all aspects of its business.  

NBK Group’s ESG strategy is built on a robust four-pillar framework, with a central focus on facilitating the transition to a sustainable economy and advancing sustainable finance in the region. A key pillar of this strategy is "Responsible Banking," which outlines the bank’s commitment to achieving net-zero emissions across its products, services, and financing solutions by 2060. This approach underscores NBK’s dedication to offering environmentally responsible options to its customers while playing a pivotal role in shaping the region’s sustainable future.

NBK maintained its leadership in sustainability by successfully issuing its first green bonds totaling USD 500 million.

Demonstrating its unwavering commitment to sustainability, NBK has fully integrated ESG standards into its investment strategies and decision-making. The bank has undertaken significant initiatives to support the United Nations Sustainable Development Goals (SDGs), including joining the United Nations Global Compact (UNGC), the largest global initiative promoting responsible business practices. 

Furthermore, for the second consecutive year, the Bank has achieved a "C" score in Combating Climate Change and Forest Protection categories from CDP. This notable achievement establishes NBK as the only bank in Kuwait to earn a CDP rating, a recognition awarded by the global non-profit organization renowned for overseeing the world’s premier environmental disclosure platform. This accolade further affirms NBK’s position among the leading financial institutions in the GCC that champion the highest standards of environmental stewardship.

Kuwait: NBK Takes Part in ‘Cloud Day’ Hosted by Google Cloud Kuwait

National Bank of Kuwait (NBK) participated in the ‘Cloud Day 2024’ hosted by Google Cloud discussing the ways to collectively contribute to accelerating Kuwait’s digital transformation journey. 

The event was attended by Mr. Kuwait's Minister of State for Communication Affairs Omar Al-Omar, and witnessed the participation of Mr. Mohammad Al-Kharafi, COO - Head of Group Operations and Information Technology at NBK as a panelist in an insightful panel around the Generative AI impact in every industry.

The panel shed light on how Generative AI can help NBK strengthen its fraud detection mechanisms and enhance security measures in financial transactions.

Al-Kharafi said he believes that the future of banking is very exciting, as Generative AI brings huge potential for delivering highly personalized, tailor-made financial advice and this will revolutionize how banks engage with their customer. 

“Human oversight is also critical. There should always be a pilot behind the wheel,” he emphasized.

Al-Kharafi stated that NBK created an “AI Control Function” Working Group, which includes experts from different parts of the bank … control, technology and strategy areas of the bank who’s purpose to work through different scenarios from cloud to on premise, Machine Learning and LLM’s to ensure NBK maximizes the AI opportunity safely and securely.

The panel tackled Personalized Financial Advice, especially with the rise of robo-advisors and personalized finance, as Al-Kharafi mentioned, “At NBK, we have our SmartWealth Robo Advisory app, which has been launched and available for a few years now. It does not utilize Gen AI yet, but it is algorithm based and offers very personalized financial advice, and it creates a custom investment portfolio for the customer based on their aspirations and risk appetite. Very intuitive, straight forward and simple to use.”

“Our focus remains on automating our operations through robotics. We have more than 155 digital workers/bots aiding our employees in reducing response times and ensuring accurate services. The digitization efforts have yielded significant benefits, saving approximately 200,665 working hours for our employees and reducing transaction processing time by up to 90.4%,” he explained.

“NBK Group Operations and IT organizes a quarterly program titled “Innovation Lab”, which serves as provides an incubator to help stimulate employees’ creativity to provide innovative solutions for challenges simulating their work nature in the bank. At the end of the program, the participant with the best idea is named and honored,” he highlighted.

“RPA has a crucial role in banking operations, as it improves efficiency, simplifies operations, and propels the industry to higher levels of innovation,” he concluded.

Kuwait: NBK Signs Cooperation Agreement with Abdullah Al Salem University

National Bank of Kuwait (NBK) signed a cooperation agreement with Abdullah Al Salem University (AASU) to exchange expertise between the two sides in various fields, in addition to sponsoring the university’s different activities and events all year round.

This reflects NBK’s dedication to strengthening partnerships with stakeholders to develop ambitious national talent, and its constant endeavors to nurture and upskill the youth.

The 5-year cooperation agreement was signed at AASU headquarters by Mr. Isam Al-Sager, Vice Chairman and Group CEO of National Bank of Kuwait, and Dr. Moudi Al-Humoud, the Founding Chairman of Abdullah Al Salem University. The signing ceremony was attended from NBK’s side by Mr. Mohamed Al-Othman, CEO - Consumer and Digital Banking Group, Mr. Emad Al-Ablani, GM - Group Human Resources, Mr. Hisham Al-Nusif, Deputy Head of Consumer Banking Group. From AASU’s side, attendees included Dr. Adel Alhussainan, Secretary-General of the Founding Board, Prof. Dr. Fawaz Al-Anzi, Founding Board Member, Acting Vice President for Planning and Institutional Excellence, Informatics and Digitization, and Mrs. Nadia Al-Rashed, Head of Public Relations and Communication.

Cooperation Areas

According to the agreement, the areas of cooperation between NBK and Abdullah Al Salem University include the exchange of knowledge and expertise in the fields of entrepreneurship, knowledge economy requirements, SME business environments, data compliance and cybersecurity. It also involves cooperation in establishing and operating specialized research centers to foster economic transformations, digitization and transformation in the banking sector.

The agreement also provides for mutual cooperation in the fields of smart systems and data analytics for the financial and banking sectors, in addition to NBK’s sponsorship of the activities of students’ celebrations, honoring ceremonies, graduation projects, AASU’s admission and placement test system, as well as admission campaigns and enlightening and guidance meetings for admitted students.

Opportunities and Resources 

Commenting on this, Mr. Mohamed Al-Othman, CEO - Consumer and Digital Banking Group at NBK, said, “We are delighted to gather today to announce this agreement between NBK and the reputable Abdullah Al Salem University. This marks the beginning of a cooperation journey between us to provide AASU students with opportunities and resources that qualify them to excel in their fields of study and help them feel confident and competent as they navigate the labor market in the future.”

“The signing of this agreement underscores NBK’s firm belief in the importance of education as a cornerstone in shaping the future of society. 

This cooperation with AASU demonstrates our unwavering commitment to qualifying new generations of leaders, innovators and professionals in various fields by encouraging and motivating students and providing them with an innovation-friendly educational environment,” he noted.

Al-Othman concluded saying, “NBK is proud to provide sponsorship for an institution that shares our vision for excellence, progress and the developing national human capital, to pave the way for a brighter and more prosperous future for Kuwait and its people. We hope to see the positive impact of this cooperation soon on the university’s students and outputs.”

NBK greatly focuses on strengthening communication with educational institutions reflecting its special attention to the educational sector and its endeavors to nurture and develop young talent, especially university students, being the prime driver of community development.

NBK’s educational initiatives underline its profound vision for investing in the human capital, and belief in the powerful impact of such agreements in serving the community and people. This also aligns with its leading role over long decades in nurturing and qualifying the youth to effectively navigate the labor market.

Kuwait: NBK Joins the Second Annual AI & Cybersecurity GCC Forum 2024

National Bank of Kuwait (NBK) has joined the Second Annual AI & Cybersecurity GCC Forum 2024, hosted by American International University (AIU) in partnership with Kuwait’s National Cyber Security Council (NCSC) on October 8-9, 2024, at the Four Seasons Hotel – Kuwait. The forum brought together thought leaders, policymakers, and AI & Cybersecurity industry experts on the local, regional and international levels.

NBK’s participation underscores its endeavors to keep pace with accelerated technological advancement and foster innovation and promote excellence in AI and Cybersecurity, as Bader Nasser Al-Kharafi, Head of IT Operations shared valuable knowledge and insight in a panel discussion during the forum.

Commenting on this participation, Mohammad Al-Kharafi, COO - Head of Group Operations and Information Technology said, “As the largest and most trusted financial institution in Kuwait, NBK brings invaluable expertise and resources to the forum. The collaboration between NBK and AIU reflects a shared vision of fostering innovation and promoting excellence in cybersecurity. Through this partnership, both the forum and Kuwait’s digital landscape are poised for accelerated growth.”

“NBK participated actively in the forum, showcasing its significant advancements and unique opportunities. in a panel discussion titled "Exploring the Challenges and Opportunities in AI and Cyber Security in the GCC." This session featured regional experts, offering a platform for in-depth dialogue on the sector’s most pressing issues,” he noted.

The AI & Cybersecurity GCC Forum stands as the region’s premier platform for top executives and experts specializing in artificial intelligence and cybersecurity. It gathers key stakeholders from diverse industries to discuss pressing challenges and emerging trends in technology, data protection, and AI-driven innovation. The forum aims to catalyze thought leadership, collaboration, and strategic partnerships that will shape the future of the digital economy across the GCC.

The forum included panel discussions that brought together experts and specialists in the fields of artificial intelligence and cybersecurity, in addition to various workshops led by top regional and global experts, addressing the latest trends, innovation, opportunities and challenges facing the use of AI.

In its first day, the forum was dedicated to administrative and academic professionals, whereas the second day included specialized workshops attended by university and high school students with the aim of developing their innovative, creative and cognitive skills in the field of AI.

Kuwait: NBK Run 2024.. A Completely Different Experience

National Bank of Kuwait (NBK) held a press conference at its headquarters yesterday morning to announce the details of the NBK Run 2024, which scheduled for December 14th. The event was attended by executives from the bank and the organizing company, representatives of the strategic partners of this major sporting event and covered by various media outlets.

In her speech at the conference, Manal Al-Mattar, Head of Group Corporate Communications at National Bank of Kuwait said, “This year, NBK proudly celebrates 30 years of the NBK Run, which is a major social sporting event organized on annual basis.”

“The NBK Run has become a symbol of social cohesion, rather than just a sporting event, and a message to everyone to lead a healthy and active lifestyle. This aligns with NBK’s firm belief that sport is not only a way to improve physical well-being but also to promote positive values like cooperation, determination and perseverance, therefore, the bank is keen on organizing this race every year, being a platform to promote these values, and it gives participants the opportunity to enjoy an experience full of enthusiasm and fun,” she remarked.

“I would like to take this opportunity to point out that the NBK Run, which is considered the largest sporting event of its kind in Kuwait given its massive public participation and extensive media coverage year after year, will allow in its upcoming version different age groups and genders to participate in different challenges in the 5km and 10km categories, according to their physical abilities. This will foster challenge and competition among the participants. To enhance competitiveness and excitement, we will be offering valuable prizes for the winners and participants, as well as special draws for the public, ensuring a fun experience for all,” she continued.

New Categories

Al-Mattar highlighted that NBK has added 3 new categories for participants in the NBK Run 2024, to allow wider segments to participate in this spectacular event. “Underscoring its pioneering position as one of the most socially responsible institutions in Kuwait, and in a step to engage different sectors of society in this major event, and to foster its leading efforts in extending all means of support to people with special needs, the bank announced that NBK Run 2024 will be different from the previous versions, by including introducing 3 new categories for the people with special needs for both men and women, including wheelchairs, blind and prosthetic limbs, with the starting point being from Kuwait Towers for a distance of 5 km,” she explained.

“The participation of people with special needs in this year’s race is an initiative of one of the leading petrochemical companies, EQUATE, which was keen to include this segment to the participants and provided valuable prizes for the winners: KD 500, KD 400 and KD 300 for the first, second and third place winners respectively, in each of the three categories, for both men and women,” she added.

Al-Mattar thanked the strategic partners who joined NBK Run this year in recognition of the importance of this long-standing and successful race and their role in supporting the community. She also expressed her thanks to all those who helped in organizing this race, including teams, sponsors, and especially government institutions who help us spread awareness on the importance of sport and its role in promoting public health.

Al-Mattar concluded her speech by inviting everyone, from sports enthusiasts to professionals, to participate in this race that combines sporting competition with a festive atmosphere, saying: “I invite everyone to register and participate in the NBK Run to create a day full of challenge and positivity. With your participation and support, this event will be a success.”

Clear Impact

On his part, Ahmed Al-Majed, Executive Manager at the Suffix Company for Sports Events Management, expressed the company’s pride in continuing to partner with NBK in organizing this major social sporting event, which year after year proves its excellence and success in attracting large numbers of participants from all segments of society.

“NBK Run is the oldest sporting event in Kuwait, and it was a trailblazer for many entities to organize similar sporting events, as well as a source of inspiration for us,” he added.

He said that sports events in the GCC countries are usually organized with the sponsorship of government, while in Kuwait, the private sector is leading the organization of these events, underscoring its belief that sport is a key factor to develop societies, and that it has become culturally and economically impactful, and much more.

“At Suffix, we look forward to providing all capabilities for participants and spectators to spend an enjoyable social sporting day, and always aim to organize outstanding events that help raise the bar of sporting events in Kuwait and the region,” he concluded.

Greater Corporation from Strategic Partners

The NBK Run 2024 will be different from previous versions, as there will be greater collaboration from strategic partners who will provide valuable prizes for the winners, participants as well as spectators.

“We at Al Babtain Group are delighted to participate for the 15th year in this important sporting event, as our sponsorship of the NBK Run comes as part of our CSR activities and our belief in the importance of promoting a healthy lifestyle in the community, and we encourage our employees and family members to join and participate in this race,” said Sandi Nassar, Senior Customer Experience Specialist at Al-Babtain.

“Al Babtain Group will be giving away an all-new Nissan X-Trail 2024, as contestants in the NBK Run will be eligible to enter the draw to win the car once they register for the race,” she added.

“We are proud of our strategic partnership with NBK over the past years, especially as the NBK Run is a spectacular event with massive participation from all segments of society. In line with our social responsibility, we are happy to participate and sponsor important events organized by NBK,” commented Sundus AlShatti, Director Digital Service of Ooredoo – Kuwait.

She said that Ooredoo will be giving away prizes during NBK Run this year, including iPhones, Apple Watches, Shamel plan subscriptions, as well as a draw on a Platinum Line worth KD 5,000, which participants will qualify for once they register.

“The new version of the NBK Run will witness a new achievement and a qualitative leap by adding the special needs category. EQUATE will sponsor participants in this category in 3 groups: Wheelchairs, Blind and Prosthetics users, where EQUATE will provide cash prizes for the winners,” mentioned Lulwa Al-Munaifi, Director of Diversity, Equity and Inclusion Programme at Equate Petrochemical Company.

Al-Munaifi emphasized that the aim of adding this category is not a mere contest to win, but to integrate people with special needs into society and promote inclusion, adding: “We aim to bring change through this race to the lives of this category to contribute more effectively to the development of society.”

She added that this year, EQUATE has recruited a number of people with special needs to be part of its team, which has had a positive impact on the company’s work environment.

“The NBK Run is not an ordinary event, but one of the largest events in Kuwait, and we are pleased with our continued strategic partnership with NBK,” noted Khalid Al-Mutawa, Corporate Relations Manager at Ali AbdulWahab Al Mutawa Commercial Company.

He explained that AAW’s participation in sponsoring the race through its brands Intersport and Joe & The Juice does not only aim to promote a healthy lifestyle and sports, but also reflects the company’s support of the national vision for sustainable healthy living and Kuwait Vision 2035.

“We are pleased to sponsor this major sporting event and continue the strategic partnership with NBK,” said AbdulWahab Al Qenaei, Public Relations Manager at CHIPS.

“At CHIPS, we always seek to integrate technology and electronics with sports, especially since electronics is closely related to all sports,” he added, wishing success to all strategic sponsors and participants in the NBK Run this year.

“We are pleased with our strategic partnership with NBK in this sporting event, which is the largest in Kuwait, and to host the race on the Sea Front, which is a key touristic destination in Kuwait, adjacent to the landmark Kuwait Towers,” quoted Abdullah AlOmani, Head of Marketing and Corporate Communications at Touristic Enterprises Company.

Al-Omani highlighted that the Sea Front was developed to provide a sporting environment and places for running, walking and cycling, pointing out that the first phase of the Sea Front development project was inaugurated last February, while the second and final phase will be inaugurated next February.

He added that TEC’s 2024-2025 Strategy aims to strengthen its partnership with the creative and inspiring private sector, and our sponsorship of the NBK Run comes in this context, noting that the company will provide 16,000 entry tickets to its facilities and parks (Winter Wonderland and South Sabahiya Park) to all contestants in NBK Run this year.

Al Mosawi: People with special needs are excited to participate in the race

Speaking at the press conference, Faisal Al Mosawi, holder of 3 Guinness World Records including the fastest wheelchair-using scuba diver in the world, extended thanks to NBK and EQUATE, as well as the strategic sponsors of the NBK Run 2024, for taking the initiative to include people with special needs.

Al Mosawi stressed that this meaningful initiative stands out with the fact that the participation of people with special needs will not be honorary, noting that promoting competition by honoring the winners creates a sense of inclusion in the community, and the positive impact will extend beyond the end of the race.

He said that through his communication with some people with special needs, he found that they were very happy and enthusiastic to participate in the race.

Early Registration

NBK has already opened early registration for the 2024 NBK Run starting from September 18th to October 5th through the “Suffix” website, offering special discounts on race fees. 

Following this period, registration will continue at regular prices until all slots are filled.

The race will start at 8:30 a.m. on December 14th, featuring two distances, both beginning and ending at Kuwait Towers. The 10 km route will proceed towards Souq Sharq, then turn and follow the Gulf Road, reaching 200 meters before the intersection with Green Island, before returning to Kuwait Towers.

The second distance of the race is 5 km, starting from Kuwait Towers and heading towards Souq Sharq. Competitors will then turn and continue running until they reach the intersection at Kuwait Army Club.

The race will honor the top three winners in both the 7men’s and women’s 10 km categories with cash prizes of KD 1,000, KD 700, and KD 500, respectively. The top three winners in the men’s and women’s 5 km categories will receive KD 500, KD 400, and KD 300, respectively.

Kuwait: NBK Sponsors LOYAC’s “Kilma” Program to Empower Youth through Debate and Critical Thinking

As part of its ongoing commitment to supporting the development of youth, National Bank of Kuwait (NBK) proudly sponsors LOYAC’s “Kilma” program, which empowers young individuals with essential skills in public speaking, critical thinking, and leadership through debate. This strategic partnership with LOYAC reflects NBK's dedication to investing in the future of Kuwait by nurturing the next generation of leaders.

LOYAC’s “Kilma” program directly addresses these needs in today’s world, offering a unique 3-week experience for Arabic-speaking youth aged 13 to 17. The program runs from October 6th to October 24th, held at NBK Headquarters, and is designed to develop key skills and cultivate youth who are capable of critical thinking, evidence-based reasoning, and open-minded debate.

Joanne Al Abdul Jaleel, NBK Public Relations Manager, expressed NBK’s enthusiasm for supporting such a vital initiative, stating, “NBK’s sponsorship and participation in the Kilma program are part of our longstanding strategic partnership with LOYAC. We are deeply committed to empowering young people to achieve their potential and contribute positively to society.”

She continued, “The Kilma program is one of the initiatives that invest in youth, providing them with opportunities to refine their public speaking, critical thinking, and teamwork skills. We believe that investing in human capital is an investment in our collective future, and Kilma aligns with NBK’s broader vision to support the aspirations of the next generation.”

“By offering youth the chance to engage in such activities, NBK and LOYAC aim to prepare the next generation to face the challenges of an increasingly complex world with intelligence, empathy, and an open mind”, she added.

Throughout the course of the Kilma program, shy and reserved participants are given the platform to build self-confidence, interact with peers from diverse backgrounds, and broaden their perspectives. They are encouraged to engage in debates that foster rational discourse while embracing creativity and persuasion. Participants are challenged to construct well-researched arguments, present them confidently, and engage in meaningful debates on various topics. Through interactive workshops, creative exercises, and public speaking activities, participants not only enhance their debating skills but also strengthen their abilities in active listening and collaboration.

LOYAC is a nonprofit organization dedicated to creating programs that help youth develop professionally, enhance their personal growth, and find purpose through service to others. 

Kuwait: NBK Launches Tech Majors’ Workshop in Collaboration with Kuwait University

Underscoring its leading role in supporting educational initiatives to upskill the Kuwaiti youth and open future horizons for them to be active players in society, National Bank of Kuwait (NBK) organized a workshop titled “Tech Majors” for Kuwait University students majored in IT and Data Science within “NBKConnect” program.

These workshops that run for 7 days from October 2nd to 9th, aim to increase participants’ awareness about the required majors in the banking sector, especially with the rapid digital advancement and the banking industry’s reliance on cutting-edge technologies and AI.

The first workshop was held at the Faculty of Science for students with a passion for technology and digitization.  It will enable students to identify the necessary skills that need to be developed to increase their opportunities in the labor market, by providing them with detailed information about jobs requirements in the banking sector.

On this occasion, Mr. Emad Al-Ablani, GM – Head of Group Human Resources at National Bank of Kuwait said: “This workshop aims to familiarize students with technology uses in banking, including digital banking systems, AI, Big Data, IT Security, Robotics, Programming, and Cybersecurity, as these majors are the future of the financial services industry, making them essential for students seeking to build a thriving career.”

Al-Ablani explained that such initiatives reflect NBK’s vision and keenness to keep pace with the rapidly changing requirements of the digital era, as well as its awareness of the crucial importance of developing and nurturing highly skilled talents in areas like information systems, data, computer science, and cybersecurity. “Kuwait has a talented and promising generation with professional skills and abilities in technology and digitization,” he noted.

“This workshop is a valuable opportunity for students to engage in effective discussions with industry experts, enabling them to gain a deeper understanding of the nature of work in financial institutions,” he emphasized.

“We are always keen to attract, train and upskill high-caliber national talent, and qualify them to join the banking sector. We are also dedicated building outstanding cadres who can take on leadership roles in the future and add value to NBK, the banking sector and the Kuwaiti economy in general,” he added.

NBK seeks to prepare a generation of national cadres who can contribute to the development of the Kuwaiti economy and providing innovative solutions in the banking industry, as such workshops represent an important step towards motivating students to explore their career options and providing them with the knowledge and skills tools needed to face the challenges of the labor market in the future.

NBK is committed to attracting, training and upskilling high-caliber national talent and qualifying them to join the banking sector, in line with New Kuwait Vision 2035 which aims to promote Kuwaitization in the private sector. In addition, the bank has highest employee recruitment and retention rates, and the private sector employer of choice for Kuwaiti fresh graduates.

Kuwait: For Second Year in a Row, NBK Named “Best in Innovation” Globally, Outdoing All Conventional and Islamic Banks

In a new achievement underscoring its leadership and brand strength, National Bank of Kuwait (NBK) has won 9 prestigious awards from Global Finance magazine. The accolades come in recognition of the bank’s remarkable strides in innovation, digital transformation, and providing the best banking solutions catering to customers’ needs and coping with the rapid technological advancement in the banking industry.

For the second consecutive year, Global Finance honored NBK’s achievements by naming it “Best in Innovation- Global Winner” for 2024, outdoing conventional and Islamic banks. The bank also bagged 2 awards on the Middle East level and 6 awards locally, proving once again its supremacy in innovation and digitization.

The awards were announced at the annual awarding ceremony “The World’s Best Digital Banks 2024” held by Global Finance in London, and received by Mohamed Al-Othman, CEO - Consumer and Digital Banking Group, and Mohammad Al-Kharafi, COO - Head of Group Operations and Information Technology on behalf of NBK, in the presence of a number of prestigious economists and bankers from around the world.

Monopolizing Locally, Leading Regionally

Regionally, NBK was named “Best in Innovation - Middle East”, and “Best Online Product Offerings – Middle East”

Locally, NBK monopolized Global Finance awards, with 6 wins out of the 10 awards presented by the magazine to banks in Kuwait. In addition to “Best in Innovation – Kuwait” and “Best Online Product Offerings – Kuwait”, the awards included: “Best Bill Payment and Presentment – Kuwait”, “Best Mobile Banking App – Kuwait”, “Best in Lending – Kuwait”, and “Best Information Security and Fraud Management -Kuwait” won by “Weyay”, NBK’s subsidiary digital bank.

These awards are a testament to the efforts made by NBK employees throughout a whole year to deliver a range of digital banking initiatives, services and solutions, which distinguished NBK as a global leader in innovation and digitalization, outdoing major global financial institutions. 

These accolades from Global Finance are also an incentive for NBK to move forward in providing more innovative banking services by investing in technology, leveraging AI, Big Data and process automation, capitalizing on NBK's huge technological infrastructure and innovation-friendly work environment.

NBK is keen on enhancing customer banking experience to keep pace with their changing needs. In this context, the NBK Mobile Banking App serves as a use-friendly daily platform for different customers, encompassing a wide range of services and features that exemplify NBK’s understanding of customers’ needs and expectations.

NBK has also worked on increasing payment solutions using cutting-edge technologies, in addition to introducing a variety of innovative products and cards catering to the needs of customers from different segments, ages, and lifestyles, which contributed to enriching their banking experience.

Large investments

NBK firmly believes that digital transformation is an ongoing journey that requires more research, development, and keeping up with the latest technology. To this end, the bank made large investments in developing its technological infrastructure to support its goals on this level, which contributed significantly to providing market-leading products and services, and offering customers a banking experience that is the best locally and among the best regionally and globally.

NBK has a long record of achievements and international awards that prove its excellence in the digital transformation. This reflects the bank’s belief in the pivotal role played by the workforce in digital transformation and fostering continuous innovation.

NBK continues to strengthen its presence in key regional markets by offering digital banking services that cater to the needs of customers regardless of their geographical location, further solidifying its position as a highly trusted brand.

Meanwhile, NBK continues to collectively enjoy one of the highest credit ratings among most major banks of the Middle East from the top three international credit rating agencies: Moody’s, Fitch and Standard & Poor’s. The bank’s ratings are supported by its strong capitalization, prudent lending policies, disciplined approach to risk management, as well as its highly experienced and very stable management team. The bank also stands out with broad global geographical footprint, with branches and subsidiaries covering key regional and global financial and business capitals in China, Geneva, London, Paris, New York and Singapore, in addition to its regional presence in Lebanon, Egypt, Bahrain, Saudi Arabia, Iraq and the UAE.

Global Finance, founded in 1987 and headquartered in New York, is one of the most reputable magazines specialized in finance and economics. It has a circulation of 50,000 readers in 193 countries, including senior corporate and financial officers responsible for making investment and strategic decisions at multinational companies and financial institutions.

The magazine conducts various surveys annually about innovation and profitability for banks and financial institutions all over the world, based on which it selects top performers on the regional and international levels.

List of awards won:

• Best in Innovation- Global Winner

• Best in Innovation - Kuwait

• Best in Innovation - Middle East

• Best Online Product Offerings – Kuwait 

• Best Online Product Offerings – Middle East

• Best Bill Payment and Presentment – Kuwait

• Best Mobile Banking App - Kuwait

• Best in Lending – Kuwait

• Best Information Security and Fraud Management -Kuwait (Weyay)

Kuwait: NBK Participates in Al Hamra Career Fair

In line with its dedication to supporting national talent starting their career, National Bank of Kuwait (NBK) participated in the career fair held at Al Hamra Tower, with the participation of a variety of leading local and international companies and top private sector corporations in Kuwait.

NBK’s participation in this fair aligns with its strategy focusing on delivering its social responsibilities and supporting development. It also reflects its continuous dedication to supporting and qualifying Kuwaiti fresh graduates for the labor market and familiarizing them with its requirements to help them determine their future career paths.

The fair ran for two days, September 18th and 19th, during which NBK’s booth capture many visitors, as Group Human Resources staff showcased the promising career opportunities for male and female national candidates, briefed them on the nature of work in the banking sector, and gave them advice on choosing the right future career and how to join NBK.

NBK regards fresh graduates as a key source to attract talent that help implement its change and transformation agenda with their high potentials that need support and guidance. On the other hand, the bank provides a unique training and development environment to upskill those young talents and enable them to build a sustainable professional career.

Commenting on this, Gadeer Al-Kooheji, Head of Talent Acquisition, Group Human Resources at National Bank of Kuwait said: “We always seek to solidify our leadership among private sector institutions in attracting, training, upskilling national talent and qualifying them as future leaders in the banking sector. We also do our utmost endeavors to build efficient young national professionals who are able to take on leadership roles in the future and foster a sustainable future for the Kuwaiti economy.”

“We aim to boost Kuwaitization by increasing acquisition of national talent, and providing them with professional training programs as per the highest international standards to help develop their skills and expertise for a promising and sustainable career, which aligns with the objectives of New Kuwait Vision 2035, she added.

“NBK believes that sponsoring these fairs helps to provide a meeting point between private sector companies and potential candidates looking for a career, as well as to encourage fresh graduates to navigate their way into the labor market and connect directly with companies and institutions to secure job opportunities,” she noted.

NBK stands out as an attractive employer offers equal opportunities and embraces diversity in the workplace. Our recruitment strategy is based on attracting, training and developing the young national cadres through the best-in-class programs to help them build a successful career. This makes NBK the private sector employer of choice for Kuwaiti fresh graduates, while also having the highest national employee retention rate.

It is worth mentioning that NBK annually sponsors many career fairs for the Kuwaiti youth to introduce to them suitable job opportunities that meet their aspirations, reflecting its constant commitment to nurture the young national talent and qualify them for the labor market. It also provides unwavering support to all career fairs that help youth and fresh graduates to find the right job.

Kuwait: NBK Opens Early Registration for the NBK Run

National Bank of Kuwait (NBK) is excited to open registration for the 2024 NBK Run, scheduled for December 14th. Early registration is available from September 18th to October 5th through the “Suffix” website, offering special discounts on race fees. Following this period, registration will continue at regular prices until all slots are filled.

The NBK Run is the largest sporting event in Kuwait, renowned for its massive public participation and extensive media coverage. It stands out as the biggest family entertainment gathering, welcoming participants from all segments of the community, regardless of gender. The event aligns with the national goals for sustainable development in health and sports, supporting Kuwait Vision 2035 “New Kuwait”.

This year, NBK proudly celebrates three decades of the NBK Run, commemorating its ongoing dedication to social responsibility and its role in promoting a healthy, active lifestyle as a cornerstone for building a vibrant community.

There will be enhanced collaboration with strategic partners, who will provide valuable prizes for winners and participants, as well as the audience. The Bank will also offer significant prizes to the top three contestants in each category.

The race will honor the top three winners in both the men’s and women’s 10 km categories with cash prizes of KWD 1,000, KWD 700, and KWD 500, respectively. The top three winners in the men’s and women’s 5 km categories will receive KWD 500, KWD 400, and KWD 300, respectively.

The race will start at 8:30 a.m. on December 14th, featuring two distances, both beginning and ending at Kuwait Towers. The 10 km route will proceed towards Souq Sharq, then turn and follow the Gulf Road, reaching 200 meters before the intersection with Green Island, before returning to Kuwait Towers.

The second distance of the race is 5 km, starting from Kuwait Towers and heading towards Souq Sharq. Competitors will then turn and continue running until they reach the intersection at Kuwait Army Club.

Commenting on this significant event, Manal Al-Mattar, Head of Corporate Communications Group at NBK, said: "NBK takes immense pride in organizing this marathon for three decades, making it the largest sporting event in Kuwait. Its significant popularity and media attention draw thousands of participants from all walks of life and age groups."

“We are committed to hosting this race annually as a key aspect of NBK's ongoing efforts to promote sustainability and support sports for a healthier and better life for our community. This event also reaffirms the bank's deep-rooted connections with its community, demonstrating NBK's dedication to serving Kuwait and pride in its national identity, affirming our role as the bank you know and trust." Al-Mattar added.

She emphasized that the bank's tradition of hosting the NBK Run for three decades showcases its dedication to creating a lasting, positive impact on the communities it serves. She noted that this commitment extends to supporting diverse events that inspire the community to embrace healthy habits, enhancing the overall well-being and safety of its members.

Al-Mattar proudly highlighted the race as one of NBK’s most significant and expansive community initiatives. She emphasized the bank’s dedication to being a trailblazer in supporting sustainable development across all fields.

NBK hosts a variety of social events and initiatives each year, highlighting its significant role and steadfast dedication to community development. These efforts span a wide range of social, humanitarian, charitable, educational, sports, and environmental activities, all designed to support and enrich the community.

Kuwait: NBK Honors Kuwait’s Champions in the 2024 Paralympic Games

National Bank of Kuwait (NBK’s) executive management honored Kuwait’s medalists in the 2024 Summer Paralympic Games, which recently concluded in Paris, in recognition of their spectacular achievements that adds to the track record of Kuwait’s sports achievements.

The paralympic champions Faisal Sorour and Faisal Al-Rajhi were welcomed by Mr. Isam Al-Sager, the Vice Chairman and Group CEO of National Bank of Kuwait (NBK), who congratulated Faisal Sorour on winning the gold medal in the men’s shot put contest and Faisal Al-Rajhi on winning the bronze medal the men’s 5000m wheelchair race, praising the achievement of the two champions. 

On this occasion, NBK awarded the two champions KD 30,000: KD 20,000 to the gold medalist Faisal Sorour and KD 10,000 to the bronze medalist Faisal Al-Rajhi.

For their part, Sorour and Al-Rajhi expressed their deep appreciation for NBK’s initiative in supporting and honoring Kuwaiti athletes, stressing that this support encourages them to go the extra mile to continue achieving achievements and raising the Kuwaiti flag high in the upcoming international sports forums.

This event reflects NBK’s pride in national champions and their outstanding achievements in the most prestigious global sports events. NBK is committed to supporting all national athletes who strive to raise the Kuwaiti flag in international sports events that attract worldwide attention.

NBK stressed that these achievements of champions Sorour and Al-Rajhi demonstrate Kuwaiti athletes’ ability to achieve spectacular results. The bank also applauded the efforts of the athletes who participated in the 2004 Paris Olympics and Paralympic games and other international championships, wishing them continued success in the future.

NBK also appreciates the achievements of Kuwait’s champions, especially para-athletes, as great role models who motivate and inspire others through their perseverance and determination to realize their dreams and add achievements to Kuwait’s track record in sports.

NBK is a key supporter of all national athletes as part of fostering sporting activities. The bank is committed to encourage and promote sports and athletes who successfully advance to a higher level of competitions and proudly step on the podium raising the Kuwaiti flag.

NBK maintains its leading role among private sector institutions in supporting national talent across various fields, including sport, by recognizing their achievements and highlighting their successes on the international arena, in addition to providing them with all necessary support to achieve their goals.

Kuwait: NBK Leads The Banker’s 2024 List of Top 100 Arab Banks in Kuwait

In a testament to the enduring strength of its banking brand and robust financial standing, National Bank of Kuwait (NBK) has soared to the pinnacle of The Banker's 2024 ranking of the top 100 Arab banks, securing the premier position within Kuwait while sustaining its distinguished ninth place among regional banks.

In its annual ranking of the top 100 Arab banks, The Banker magazine evaluated various criteria, with a focus on Tier 1 capital, assets, profitability, asset quality, return on capital, and return on assets. 

Leveraging its robust financial position and impressive performance metrics, NBK achieved an eighth-place ranking in total assets, boasting a return on assets of 1.56% and a return on capital of approximately 15%.

NBK led the ranking in Kuwait for Tier 1 capital, which amounted to US$ 12.8 billion as of the end of 2023, reflecting a year-on-year growth of 7.48%. Additionally, the Bank excelled in operational efficiency, securing the top position among all Kuwaiti banks.

NBK's inclusion in this prestigious list underscores its leadership on both regional and global stages, highlighting the strength of its balance sheet and its superior performance across several key financial indicators relative to its peers. 

The Bank's placement on the list of the region's top financial institutions accentuates the superior quality of its profits, which are firmly anchored in robust foundations across all its business sectors. Moreover, it underscores NBK’s exceptional geographical reach, extending across four continents and 13 countries.

Last year, NBK distinguished itself as one of the few banks globally to be honored with several prestigious awards for its innovations in digital banking. Additionally, the Bank achieved a notably high ranking in the customer satisfaction index.

The Bank maintains one of the highest credit ratings among major banks in the Middle East, as affirmed by the consensus of the three leading global credit rating agencies—Moody's, Fitch, and Standard & Poor's. This prestigious standing is bolstered by its robust capitalization, prudent lending policies, systematic risk management approach, and the expertise and stability of its management and executive team.

In 2023, the bank reported a net profit of KD 560.6 million (US$ 1.8 billion), reflecting a year-on-year growth of 10.1%. Additionally, net operating income surged by 15.6%, reaching KD 1.2 billion (US$ 3.8 billion). By the end of 2023, the bank's assets stood at US$ 122.8 billion, marking a growth of 3.7%.

 Established in 1926, the internationally renowned magazine "The Banker," a distinguished part of the British Financial Times, stands as one of the most prestigious publications in the financial sector. It undertakes extensive surveys of leading financial institutions across approximately 120 countries to spotlight the most prominent and exemplary banks in the global banking community.

Kuwait: NBK Now Accepting School Registrations for the Bankee Program

National Bank of Kuwait (NBK) has officially opened registration for the third season of the Bankee program. This initiative is designed to enhance financial inclusion among students, with the goal of achieving lasting improvements in financial literacy across the community.

In partnership with the Ministry of Education and the Anti-Corruption Authority "Nazaha," the Bankee program is NBK's pioneering initiative in Kuwait. This program is designed to familiarize students with fundamental economic concepts and practices, including earning, spending, saving, and financial obligations.

The program also seeks to instill essential values in students, such as honesty, integrity, personal development, responsibility, and cooperation. It aims to foster teamwork and raise a generation of Kuwaiti youth who appreciate the importance of financial stability and independence. By equipping them with the necessary financial skills and knowledge, the program contributes to the sustainable development and economic well-being of individuals and society.

Commenting on the launching of the third season of Bankee Program, Manal Al-Mattar, Head of Corporate Communications Group at NBK, said, "The program experienced exceptional success and strong engagement from schools, students, and parents last season. This enthusiasm led numerous public and private schools to sign up for the program this season, prompting us to increase the number of participating schools to 60."

The program also features a classroom economy, a system that models the school as a microeconomy mirroring real-world economic systems. Bankee has also launched a new platform and website in both Arabic and English This innovative and interactive approach utilizes a digital platform where students and teachers can conduct financial transactions using virtual currency called Bankoz. This setup enriches students' understanding of the value of work, money, and the importance of making informed financial decisions.

“The executive management team at NBK has underscored the program's significance through their school visits and oversight of its various phases over the past two seasons. These visits have been met with enthusiastic participation from parents, who have expressed great satisfaction with the noticeable improvements in their children’s behavior and financial literacy.” She added.

Al-Mattar emphasized that NBK is dedicated to leveraging its efforts and resources for effective collaboration with state institutions and civil society. The goal is to advance social development and enhance human resources, which are crucial for fostering growth and prosperity. The bank remains firmly committed to supporting the development of education through comprehensive support.

In its commitment to enhance the program's offerings,., the program now has a presence on various social media platforms, including Instagram, TikTok, and YouTube. This expansion is designed to ensure that all participants can easily access and benefit from the program's content, activities, and events throughout the year.

NBK firmly believes in the significance of private sector initiatives and their role in partnering with government entities to provide young people with essential knowledge and skills. These efforts are vital for the well-being and prosperity of both individuals and society.

NBK received the Bronze Award from Qorus in the Environmental, Social, and Corporate Governance (ESG) category for Bankee Program. This accolade recognizes the bank’s commitment to integrating sustainability and ESG standards into its activities.

Kuwait: NBK Supports Rafa Nadal Academy Youth Team Summer Camp in Toulouse

As part of its sponsorship agreement with Rafa Nadal Academy Kuwait (RNAK), National Bank of Kuwait (NBK) is keen to promote public health and the practice of sports activities. In this context, NBK supported Rafa Nadal Academy youth team summer camp in Toulouse.

This comes as part of the bank's firm commitment to performing its social responsibilities, and its relentless pursuit of sustainable development by encouraging members of society to do sports and adopt healthy lifestyles.

Ten players from the youth program at the academy participated in the three-week summer camp, which included tournaments and daily training sessions.  

On this occasion, Mohammad Al Sarraf, Sports Team Manager and PR Officer at National Bank of Kuwait said: “Through its support for sports, including this camp, NBK aims to improve our community’s wellbeing and lifestyle”.

"At NBK, we believe in the transformative power of sports, especially for our youth. Partnering with the Rafa Nadal Tennis Academy in Kuwait is not just about tennis; it's about shaping character, fostering teamwork, and instilling lifelong values. Through this sponsorship, we aspire to build a legacy of excellence, where the energy of our youth translates into a brighter, more vibrant future for Kuwait," he added.

“Sports and health represent completely a foundational priority at NBK, and is one of our six main sustainability CSR focus areas,” he explained. 

Al Sarraf also highlighted the importance of sports in contributing effectively to the well-being of our community. “By providing the opportunity for our community members to participate and excel in a team setting, this helps boost their morals, wellbeing and motivates them even higher.”

“NBK seeks to establish partnerships with leading institutions in all fields, in a way that contributes to support its community needs and expectations. Our commitment to supporting youth reflects our dedication to empowering the next generation. By investing in sports and education, we aim to cultivate not just tennis skills but also resilience, discipline, and a healthier future for our youth” he pointed. 

Al Sarraf emphasized that NBK encourages people to do sports and follow a healthy lifestyle in line with its leading strategy to achieve sustainability.

Members of the Rafa Nadal Academy have access to 15 tennis courts, including both outdoor and indoor courts equipped with the latest international technologies. Additionally, the academy hosts courts for paddle tennis and squash, along with an indoor swimming pool and separate fitness facilities for both women and men.

NBK is deeply committed to social responsibility, recognizing its role in creating a positive impact in society. Through its initiatives, NBK prioritizes youth development, education, health, women's empowerment, and environmental sustainability. NBK strives to be a catalyst for positive change, fostering a brighter future for generations to come.

Kuwait: NBK Unveils the First Prepaid Cashback Card for Parents and Youngsters

In keeping with its pioneering efforts in providing customers from all segments with an exceptional banking experience that meets their needs and expectations, National Bank of Kuwait (NBK) has unveiled the revamped NBK UEFA Champions League Platinum Mastercard Prepaid Card, which is the first-of-its-kind to feature the “Double Earning” concept in Kuwait, through exclusive benefits and rewards to customers.

The revamped card is available to all family members with starting age as low as 7 years old, and is the first prepaid cashback card of its kind in Kuwait available for and offering its benefits to both parents and youngsters.

Cardholder earns 3 points for every KD 1 spent locally as well as internationally and 3 points for every KD 1 loaded into the card. Earned points can be redeemed with cashback direct to the card, or with e-vouchers/gift cards redeemable at more than 185 merchants locally and globally in all shopping categories related to the youth and youngsters segment such as PlayStation, Xbox, etc.

Youngsters would have a seamless redemption process through a dedicated web portal using their own credentials without the need for parents to view their earned points balance or to redeem. They also would have unlimited free visits to more than 25 lounges while travelling with their parents, as well as exclusive offers from Mastercard.

The card is issued instantly through NBK Mobile Banking App and can be added immediately to any digital wallet such as Apple Pay, Samsung Wallet, or Google Pay.

“Our goal is to help the next generation develop strong financial literacy skills in a way that is easy and beneficial. By the rewarding cashback offered by NBK UEFA Champions League Platinum Mastercard Prepaid Card, we aim to incentivize smart spending and savings from an early age,” Anwar Al Ballam Senior Products Manager, Consumer Banking Group at National Bank of Kuwait, commented on unveiling the revamped card.

“Launching Kuwait’s first cashback card for parents and youngsters aligns with our constant efforts to promote financial literacy and to be always closer to our customers from all segments, by offering innovative products packed with unmatched benefits and rewards,” he remarked.

NBK provides an array of prepaid cards which offer numerous benefits, while helping customers spend their money confidently and conveniently, making sure they never go over their budget.

Kuwait: NBK Unveils Payment Verification Service on Its Mobile Banking App

In keeping with its constant dedication to providing cutting-edge services to its customers, National Bank of Kuwait (NBK) announced introducing a new service that allows customers to confirm payment transactions online through the NBK Mobile Banking App, making itself as the first provider of this service in Kuwait.

The bank mentioned that the new service provides a hassle-free, quick, and secure way to make online payments, explaining that with NBK Secure Shopping service, customers can now confirm all online payments directly and easily through the NBK Mobile Banking App without the need to enter OTP.

The service is available for the holders of NBK Debit Cards (Only on international spends), NBK Foreign Currency Prepaid Card, and NBK Multi-Currency Prepaid Card. To avail it, customers need to enable NBK Push Notifications.

After enabling NBK Push Notifications, customer can initiate purchases through the NBK Mobile Banking App, as he will receive a push notification to click to be redirected to the App to confirm the payment in easy steps. If Push Notifications service is not enabled, customer will need to enter the App and follow the steps to confirm the payment.

Commenting on unveiling the new service, Bader Al-Janah, Head of Card Products, Consumer Banking Group at National Bank of Kuwait said: “At NBK, we are committed to offering all new services to our customers, as we always strive to provide premier, highly secure and cutting-edge products and services that suit their needs and different lifestyles.”

“NBK continues to strengthen its digital excellence through the services provided on its Mobile Banking App, which customers largely rely on for their banking transactions. This aligns with our unwavering dedication to providing a market-leading digital banking experience that not only meets customers’ needs, but also exceeds their expectations,” he remarked.

Through the NBK Mobile Banking App, NBK aims to offer customers a secure platform to conveniently manage their finances at any given moment. This service facilitates a wide range of banking activities, including opening new accounts, monitoring transactions on accounts and credit cards, accessing accumulated NBK Miles and NBK Rewards Program points, settling credit card dues, making payments for electronic bills, locating the nearest NBK Branches, ATMs, and CDMs across Kuwait, updating personal information, and many other services.

Kuwait: NBK Releases a New Batch of Services on Its Mobile Banking App 

National Bank of Kuwait (NBK) continues to elevate its Mobile Banking App by introducing successive batches of new services and enhancements to ensure delivering a richer digital banking experience enabling customers to manage their accounts and make transactions in a convenient and secure manner, anytime, anywhere, without the hassle of visiting branches.

In this context, continuing its unwavering commitment to provide products and services aligned to market trends and customers’ needs and suggestions, NBK has introduced a new batch of services as well as enhancements to existing ones on the app for even more secure payments, which included the following: 

Prepaid Gift Card

NBK Mobile Banking App users can conveniently issue virtual cards as e-gift cards and be able to gift it to their loved ones easily. This service is perfect to be used for different occasions and e-cards can be given in an easy, quick, and trendy way to add to digital wallet and use instantly locally, internationally or online.

In-App Payment:

This service is an authenticated method that provides an additional layer of security to protect against fraudulent when making transactions using cards. In this release we are providing this service for prepaid and debit cards, offering users an even more secure experience when using their cards to make transactions through the app.

e-Dividend Payments:

Using NBK Mobile Banking App, customers can register to dividend electronic transfer service allowing registered shareholders to receive dividend payments digitally in their accounts with Kuwait Clearing Company (KCC).

The service aims to facilitate the process for its customers and encourage them to use one of their accounts with NBK to subscribe to the dividend distribution service, especially as only one bank account can subscribe to dividend payments through KCC.

Auto Login

Customers can enjoy the quickest, simplest way to log in to NBK Mobile Banking App after enabling FaceID on their mobile device. Once enabled, users won’t need to type in their password or tap on the FaceID button, but just open the app and it will let them login automatically.

Linking Accounts

Customers can link their minors’ accounts to their profile easily through NBK Mobile Banking App, whereby they can manage their accounts easily in addition to creating standing orders after the linkage.   

What’s New Section

The latest release of the app allows users to learn about the latest products and services available through the app and their features in detail, in addition to how to use and benefit from them, which allows them to know everything they want to know about the new products before applying for and using the services.

IBAN+

Under the new enhancements, the apps user of can now speed up their transfers by typing the IBAN to find the customer's name, thus making transfers easier and faster.

Exclusive rewards for the holders of the revamped NBK UEFA Champions League Platinum Mastercard Prepaid Card 

The revamped card is available to all family members with starting age as low as 7 years old, and is the first prepaid cashback card for youngsters in Kuwait. Cardholder earns 3 points for every KD 1 spent locally as well as internationally and 3 points for every KD 1 loaded into the card. Youngsters can redeem their earned points with cashback direct to the card, or with e-vouchers/gift cards redeemable at more than 185 merchants locally and globally in all shopping categories related to the youngsters’ segment such as PlayStation, Xbox, etc.

The First Mobile App in GCC to Receive Google MASA Security Certification 

NBK Mobile Banking has received the MASA Security Certificate on Google Play which verifies the security and safety of NBK Mobile Banking App. NBK is committed to providing the most secure and safest digital financial services and strives to maintain the best-in-class digital security standards. 

Other Enhancements

In addition to the services released in this update, there are also some enhancements made on the app to improve the banking experience when making transactions. These enhancements are on transfers where customers can view the currency exchange when making a transfer across currencies within his own accounts, enhancements made on sending and receiving money locally using the mobile number with WAMD service, the ability to view the prepaid card on the dashboard without pressing on view, and much more enhancements the bank makes to offer a pleasant customer experience for its customers to make managing their account convenient anytime, anywhere.In addition to the services released, NBK Mobile Banking App is the ultimate travel companion when it comes to smart, fast, and convenient. The app is designed to meet the customers ‘peace of mind and allows them to manage their accounts and transact from the comfort of their home, office, or even abroad. The users can make a variety of transactions that save them the trip to the branch or even calling the Contact Center in few taps only. These services are managing their cards where they can select the cards they will be using while being abroad to avoid any blockage, report lost or stolen cards, temporarily block or unblock cards instantly, add cards to the device wallet, apply for NBK products, make the necessary payments, speak with NBK Contact Center agents by calling one of the toll-free numbers, and much more. 

Digital excellence

Commenting on the new batch of services and enhancements, Mohammed Al-Dakheel, Head of Mobile Banking, Consumer Banking Group at National Bank of Kuwait said, “At NBK, we always seek to strengthen our digital excellence through the services provided on the NBK Mobile Banking App, especially with customers’ increased reliance on it for their banking transactions. Therefore, we are keen to introduce more new services and enhancements to the app to deliver a superior digital banking experience that not only meets customers’ needs, but exceeds their expectations.”

 “With every new batch of services added to the app, we notice growth in transactions made using it, which reflects increased customer satisfaction with our service level. This, in turn, encourages us to continue adding more distinguished services and enhancements to the app, in response to market trends on one hand, and to meet customers’ needs and ensure providing them with cutting-edge banking services on the other hand,” he added.

Through the NBK Mobile Banking App, NBK aims to offer customers a secure platform to conveniently manage their finances at any given moment. This service facilitates a wide range of banking activities, including opening new accounts, monitoring transactions on accounts and credit cards, accessing accumulated NBK Miles and NBK Rewards Program points, settling credit card dues, making payments for electronic bills, locating NBK Branches, ATMs, and CDMs across Kuwait, updating personal information… etc. 

Kuwait: NBK Unveils the Second Al Jawhara Millionaire for 2024 onboard a Yacht on Umm Al Maradim Island

Marking the unveiling of the second grand prize draw for Al Jawhara and Al Jawhara Junior Accounts for 2024, National Bank of Kuwait (NBK) hosted a unique event onboard a luxury yacht on Umm Al Maradim Island. With a stunning maritime backdrop, the event featured a variety of entertainment activities, contests, and draws for the audience who showed remarkable engagement.

The celebration was attended by a number of NBK executives, where the draw was conducted in the presence and oversight of a representative of the Ministry of Commerce and Industry, as well as a representative of Deloitte, revealing Al Jawhara Account holder Abdullateef Majeed Abdulkareem Ramadhan as the lucky winner of the KD 1 million prize, making him the second Al Jawhara millionaire for this year. In addition, Al Jawhara Junior Account holder Abdulmohsen Anwar Abdulmajeed Behbehani was announced as the winner of the grand prize worth KD 10,000, noting that the grand prize draws for both Al Jawhara and Al Jawhara Junior Accounts are conducted 3 times a year.

Celebrating the announcement of the winners, the event featured a variety of engaging entertainment activities and games for children and adults. It also included a number of competitions and draws on valuable prizes include Galaxy smartphones and two cruises on board a luxury yacht to Umm Al Maradim Island in collaboration with the Waves app.

Comprehensive Banking Experience

Commenting on this occasion, Mr. Mohammed Al-Othman, CEO-Consumer and Digital Banking at National Bank of Kuwait said, “Today, we are celebrating the first millionaire in Al Jawhara grand prize draws for this year, as well as the winner of Al Jawhara Junior grand prize. This aligns with our strategy to reward customers from different segments through an array of special draws, prizes and offers all year round.”

Al-Othman added, “Al Jawhara and Al Jawhara Saver accounts as well as the  Al Jawhara Junior draw are instrumental tools to promote a culture of savings and financial inclusion among the public,” noting that “NBK always seeks to provide customers with a comprehensive banking experience in which top-notch products and services are complemented with unmatched benefits and rewards.”

“NBK has increased the total amount of the Al Jawhara Account prizes to KD 5 million starting this year, and recently launched Al Jawhara Saver Account, offering customers a bonus interest rate up to 1.5% for the first year, in addition to the chance to enter the monthly and grand draws if savings reach KD 5,000 and above. The bank is also offering customers who have been banking with it for more than 2 years double chances, in case they were not eligible to earn the existing double chances,” he explained.

“Seeking to enhance the benefits and rewards provided to Al Jawhara Account holders, NBK introduced Al Jawhara Junior Draws for Al Jawhara Account holders below the age of 21 with 7 winners of monthly draws (KD 1,000 for 3 winners and KD 500 for 4 winners) in addition to 1 winner of KD 10,000 prize with each grand prize draw,” he mentioned.

NBK has already increased Al Jawhara prizes by more than the double in early 2023, making it the biggest in Kuwait, with KD 20,000 prize weekly, KD 125,000 monthly, and grand prizes worth KD 1,000,000 each, three times a year.

Kuwait: NBK Shares Golden Tips on Fraud Protection with ‘NBK Aspire’ Interns

As part of its ongoing efforts to promote financial and banking awareness among all sectors of society, National Bank of Kuwait (NBK) continues its active participation in the ‘Let’s Be Aware’ banking awareness campaign launched by the Central Bank of Kuwait, in collaboration with local banks and Kuwait Banking Association (KBA).

In this context, the bank organized an awareness session for the students of the ‘NBK Aspire’ Summer Internship Program for 2024, in which they gave a detailed presentation about the “Let’s Be Aware” campaign, and the channels used by the bank to increase awareness about fraud and protection methods. They also presented some practical cases and presented advice and guidance that should be followed to avoid falling victim to these threats.

The bank called to enable two-factor authentication (2FA), which adds an extra layer of security for online banking and financial accounts, as well as to keep a close eye on bank statements and transaction history, to identify any suspicious or unauthorized activity.

NBK advised the trainees to be cautious of e-mails, text messages, or phone calls that ask for personal or financial information, as scammers typically send phishing e-mails from illegitimate websites using the logo of well-known organizations such as banks, telecom or big companies, so that the user cannot distinguish between real and fake messages.

The bank also affirmed that it will never ask customers for personal information via e-mail, SMS or phone calls, warning them of responding to such messages representing fraud attempts to steal customers’ banking information.

Among the key tips shared with ‘NBK Aspire’ interns was using strong passwords to protect different personal accounts online, creating different passwords and not using the same password for all accounts, and updating them regularly.

Additionally, the bank urged them to use long passwords that contain at least 8 characters with a mix of letters, numbers, and symbols, as the longer the password, the more difficult it is to hack. It also warned against using personal information in passwords, such as birth date, family names, and simple number sequences, to ensure protecting the security of your important information.

With the ever-growing fraud threats using various techniques, NBK is keen to protect customers and increase their awareness of how to steer clear of these threats. To this end, the bank advised to ensure computer, smartphone, and other devices used for banking are protected with up-to-date antivirus software and security patches, as well as to set up transaction alerts with the bank so that customers receive notifications for any withdrawals, transfers, or changes to your account.

The bank also explained to the students that financial knowledge and staying informed about the latest scams and fraud techniques are key to recognizing and avoiding potential threats, calling trainees in case of suspecting any fraudulent activity on their accounts, they should immediately contact the bank to report it and take necessary actions to secure the account.

NBK employs its strong customer communication capabilities as well as all its digital channels, which are the most popular among all Kuwaiti banks, to support the Central Bank’s endeavors to protect customers and the national economy.

It is worth mentioning that NBK is a key supporter and partner in all CBK’s campaigns and initiatives to increase financial and banking awareness among different sectors of society. As a leading financial institution in Kuwait and across the region, NBK frequently organizes various activities to raise awareness on all topics related to the banking sector. 

The ‘NBK Aspire’ aims to encourage students to engage in the banking business experience during their summer vacation, reflecting the bank’s steadfast commitment with corporate social responsibility by empowering and upskilling the young generation to play an active role in the future.

Kuwait: NBK Launches the Enhanced Al Shabab Package and Student Allowance Campaign

Underscoring its constant efforts to meet the needs of its youth customers and to provide the best services and offers that suit their various lifestyles, National Bank of Kuwait (NBK) has announced the launch of its enhanced Al Shabab Package and Student Allowance Campaign, which aims to provide exceptional benefits and exclusive offers to young Kuwaitis aged 13-24.

The NBK Al Shabab Package offers a wide range of benefits centralized on 5 categories: Entertainment, F&B, Electronics, Sports, and Lifestyle. The Package includes a buy-one-get-one free ticket at VOX cinemas, making movie nights more exciting and affordable. Al Shabab Customers can also avail a weekly discount of KD 3 on food orders through the Deliveroo App. In addition, customers can benefit from monthly significant discounts on selected items from Chips store, ensuring access to the latest gadgets and tech products as well. Furthermore, customers can receive a 20% discount on all Platinum GYM and Miss Platinum subscriptions, encouraging a healthy and active lifestyle. To enhance shopping experiences for the customers, Al Shabab Package also provides a 10% instant discount and points collection at various outlets.  

In addition to Al Shabab Package benefits, students who transfer their allowance to NBK will have the chance to enjoy further benefits. This includes a weekly cashback of up to KD 5 on fuel at OULA every Friday, and complimentary coffee and snacks from Pret-A-Manger on every Saturday. 

Abdullah Al Najdi, Senior Manager, Consumer Banking Group at National Bank of Kuwait stated, "The Al Shabab and Student Allowance Campaign is designed to cater to the diverse needs of our young customers. We aim to provide value through a range of benefits that support their entertainment, technological, lifestyle, and fitness needs. This campaign reinforces NBK's commitment to enriching the lives of the youth in Kuwait."

It is worth mentioning that NBK Consumer Banking Group always places the youth as a top priority in all the services, enhancements, cutting-edge payment solutions, as well as the prizes and exceptional offers they provide.

Kuwait: NBK Provides a Detailed Presentation of the ‘Let’s Be Aware’ Campaign to ‘NBK Aspire’ Interns

As part of its ongoing efforts to promote financial and banking awareness among all sectors of society, National Bank of Kuwait (NBK) provided a detailed presentation of the ‘Let’s Be Aware’ banking awareness campaign to the students of the ‘NBK Aspire’ Summer Internship Program for 2024.

During the presentation, Sarah Al-Amad, Senior Communications Officer at National Bank of Kuwait highlighted several examples of fraud that use different schemes, such as phishing scams including e-mail and text messages containing malware, as well as using the information shared unknowingly when using public Wi-Fi or by hacking computers and stealing users’ bank account to make unauthorized transactions.

Al-Amad provided many tips and guidelines to avoid such threats, stressing the need not to share banking and personal information with anyone, as well as following the banks’ guidelines and benefiting from the banking awareness campaigns and educational materials published by the Central Bank of Kuwait and Kuwaiti banks on different social media platforms.

She also stressed the need to verify the sources of phone calls, text messages or e-mails before providing any personal or financial information, calling to stay informed about the latest scams and fraud techniques to recognize and avoid potential threats.

Al-Amad advised the students to enable Two-Factor Authentication (2FA), as it adds an extra layer of security, as well as to keep a close eye on your bank statements and transaction history to detect any suspicious activity.

NBK makes consistent efforts to combat fraud and educate customers, regarding this as a crucial part of its strategy. To this end, it always uses all communication channels and social media platforms, which are the most popular among all Kuwaiti banks, to maximize financial and banking awareness among the public.

Kuwait: Minister Al-Mashaan and NBK Executives Review Work Progress in Shuwaikh Beach Development Project

National Bank of Kuwait (NBK) organized an on-site visit to Shuwaikh Beach Development and Beautification Project to review work progress in this landmark tourism and entertainment project spanning an area of 1.7 km, three months after starting construction works.

The visitors were headed by Dr. Noura Al-Mashaan, Minister of Public Works and Minister of State for Municipal Affairs, Mr. Isam Al-Sager, Group Vice-Chairman and CEO of National Bank of Kuwait. The visitors also included Eng. Maysa Boushahri, Deputy Director General for Projects Sector Affairs at Kuwait Municipality, and Eng. Amina Hamada, Head of the Municipality’s Shuwaikh Beach Project Management and Supervision team, and team members. NBK’s attendees also included Eng. Ezzat Hallal, General Manager - Engineering Services, Eng. Ahmed Assi, AGM- Engineering Services, and Talal Al-Turki, Executive Manager, Head of Public Relations and Event Management.

During the tour, the visitors reviewed the progress made since starting the project’s construction works in early May, as work is underway, with the entire project set to be completed within 11 months, i.e. by the end of March 2025, after which Shuwaikh Beach will be ready to welcome visitors with its new look.

It is worth mentioning that NBK signed a cooperation agreement with Kuwait Municipality, under which the bank committed KD 3 million for the development and renovation of Shuwaikh Beachfront to serve all visitors’ needs, with a focus on providing high quality and highly efficient modern facilities, in a way that fosters sustainable health, sports and entertainment in Kuwait.

On this occasion, by Dr. Noura Al-Mashaan, Minister of Public Works and Minister of State for Municipal Affairs, stated, “This project aligns with the Municipality’s strategy to partner with all development stakeholders in a way that serves Kuwait Vision 2035.” 

“Al-Mashaan praised NBK’s generous donation for this vital project, which is expected to be completed by end of March 2025. She explained that the Shuwaikh Beach Development And Beautification Project comes within the Municipality’s ongoing efforts to develop seafronts in Kuwait in order to serve the well-being of its visitors from local citizens and residents, as well as external visitors.”

On his part, Mr. Isam Al-Sager, Group Vice-Chairman and CEO of National Bank of Kuwait commented, “This visit aims to review work progress in Shuwaikh Beach Development and Beautification Project, which stands out as a model for fostering Public-Private Partnerships (PPPs) in Kuwait.”

“NBK’s contribution to this project comes within its efforts to promote sustainable development of Kuwait’s economy, and to serve the implementation of Kuwait Vision 2035, which underscores the importance of developing tourism and entertainment sector in the Country. This initiative also reflects our ongoing fostering of Kuwait’s climate action plan, in line with the Country’s pledge to become carbon neutral by 2060,” he explained.

“The project includes 4 integrated main areas providing all the needs of beachgoers, while being eco-friendly to help reduce carbon emissions and environmental impact, reflecting NBK’s unwavering commitment to environmental sustainability on the one hand, and pioneering corporate social responsibility on the other hand,” he remarked.

NBK is committed to supporting Kuwait’s national initiative to promote environmental, social and economic prosperity, in line with the Country’s recent pledge to become carbon neutral by 2060 by progressing towards its environmental goals and supporting the banking sector’s endeavors to accelerate the transition to a carbon-free economy.

Project contents

The Shuwaikh Beach Development and Beautification Project consists of the following areas:

Area 1: includes playgrounds and entertainment areas, as well as a large green areas allowing for outdoor activities, in addition to restoration of the mosque, restrooms, and commercial kiosks within the project. The area also includes future work sites for a number of kiosks, ATMs and ITMs.

Area 2: includes an extended sandy beach area with wooden benches in the middle.

Area 3: includes a walled garden with green landscape and dense trees providing large, shaded areas for relaxation and meditation amidst serene atmosphere.

Area 4: includes the project’s starting point and interactive giant checkers game, in addition to large green spaces that allow for outdoor activities and multi-use spaces.

Kuwait: Al-Sager: The New Government Can Address Economic Challenges and Implement Economic Reform Program

National Bank of Kuwait (NBK) participated as a platinum sponsor of ENCON4 Forum of Major State Development Projects, organized by the Kuwaiti Federation of Engineering Offices and Consultant Houses (KFEOCH), in cooperation with the General Secretariat of the Supreme Council for Planning and Development (SCPD), and Kuwait Direct Investment Promotion Authority (KDIPA), under the motto “Transparency, Achievement, and Sustainability, Principles of the New Era.”

In his speech during the event, Mr. Isam Al-Sager, Vice-Chairman and Group CEO of National Bank of Kuwait, affirmed that the bank is committed to aligning its strategic objectives with Kuwait National Development Plan, as well as to cementing its position as the first partner of the government in financing major strategic projects.

“NBK recognizes the importance of cooperation and partnership, since no individual entity can achieve these visions, as they require the concerted efforts of government agencies, private and financial institutions to overcome the challenges and seize opportunities to build a better future for our Country under the leadership of HH the Amir of Kuwait and HH the Crown Prince,” added Al-Sager.

“We are optimistic that the new government, in light of the significant support it enjoys at the present time, will be able to address the major economic challenges and implement the long-awaited economic reform program,” he noted.

“We are also confident that the government will prioritize development projects and focus on policies that attract investment and increase investment spending in order to boost confidence and promote business environment in Kuwait, as well as give special attention to projects that achieve economic benefits while promoting sustainable development,” he remarked. “The steps we take today will determine the legacy we will leave behind for future generations,” he emphasized.

ENCON4 aimed to attract investments and international companies, and to give the local and international private sector the opportunity to learn about the state’s projects across all sectors in order to study these projects carefully to create competitive proposals to win their contracts. This will pave the way for Kuwait to enter a new era characterized by rapid accomplishment, transparency, and taking responsibility in implementing major development projects in the Country to achieve its sustainable development goals.

The forum also highlighted the need to focus on major state development projects as the main concern, as the projects included in the government’s plan are the way to achieve development in the short, medium and long term, and to restore Kuwait’s role and leadership.

NBK maintains its leadership as the main bank for financing mega deals and projects, benefiting from its solid financial position, extensive experience, in addition to the exceptional and sustainable relations with clients, both locally and internationally.

It also continues to seize opportunities on the local and regional levels, based on its historical role in leading alliances of mega deals and financing major strategic projects across many sectors, bolstering its leading position as the bank of choice for leading local and regional companies in financing their expansion plans.

Kuwait: NBK Ties up with Safat Home as a New Partner of NBK Rewards Program

National Bank of Kuwait (NBK) always strives to elevate customer banking experience by providing exclusive offers and rewards to complement its market-leading products and services. In this context, the Bank has signed a partnership agreement with Safat Home, a subsidiary of Alghanim Industries to be part of the Bank’s loyalty program ‘NBK Rewards Program’.

The signing ceremony took place on July 17th at NBK Headquarters and was attended by Mr. Mohammed Al-Othman, CEO-Consumer and Digital Banking at National Bank of Kuwait, Mr. Abdullah Al-Omar, Senior General Manager at Safat Home, and Mr. Mussab Ahmed, Vice President Finance and Group Controller and Treasurer at Alghanim Industries.

According to the offer presented by the NBK Rewards Program, NBK Customers will accumulate 5% in NBK Rewards on all their purchases from Safat Home when using any NBK Credit or Prepaid Card. The earned NBK Rewards can be used to pay for all or part of customers’ shopping at all participating outlets, instantly at the Point-of-Sale (POS) terminals, with a minimum balance of KD 5 in NBK Rewards for redemption.

Commenting on this, Al-Othman said, “We are happy with this partnership with Safat Home, which underscores our constant endeavors to elevate customer banking experience by expanding the rewards and benefits provided to them, especially when using NBK Credit or Prepaid Cards for shopping at their favorite stores.”

“We always seek to expand our NBK Rewards partner network, leveraging its solid relationships with leading corporations across different sectors to offer customers exclusive discounts and a unique shopping experience,” he noted.

It is worth mentioning that the NBK Rewards Program is Kuwait’s largest loyalty program with more than 1,000+ partner outlets across Kuwait. The program offers NBK Credit and Prepaid Cardholders guaranteed rewards at a variety of the best brands across several categories including Food and Beverages, Fashion and Beauty, Health and Wellness, Home and Auto, Travel and Hotels, Kids and Education, Entertainment, and others.

Kuwait: NBK Reports Net Profits of KD 292.4 Million for the First Half of 2024

National Bank of Kuwait (NBK) has announced its financial results for the six-month period ended 30 June 2024. The Bank reported a net profit of KD 292.4 million (USD 953.6 million), compared to KD 275.3 million (USD 897.9 million) for the corresponding period in 2023, improving by 6.2% year-on-year.

Total assets as of the end of June 2024 grew by 4.4% year-on-year to reach KD 37.7 billion (USD 122.9 billion), whereas total loans and advances increased by 5.4% year-on-year to reach KD 22.7 billion (USD 74.1 billion), while shareholders’ equity reached KD 3.8 billion (USD 12.5 billion), growing by 6.5% year-on-year. 

Based on these results, the Board of Directors has resolved to distribute semi-annual cash dividends of 10 fils per share for the period ended 30 June 2024, representing 10% of the nominal value of the shares. 

Impressive Financial Performance 

Commenting on NBK’s 1H2024 financial results, Mr. Hamad Al-Bahar, NBK Group Chairman, said: “In the first half of 2024, NBK maintained its growth momentum with strong financial results, highlighting the resilience of its diversified and resilient business model amidst evolving operational landscapes.” 

“Despite regional and international geopolitical tensions impacting the global economy, the Bank has continued to leverage strategic diversification in its products and services across diverse regions. This success was supported by a strong balance sheet, solid capital base, high asset quality, ample liquidity, targeted investments, and prudent risk management,” Al-Bahar added.

He also indicated that in the first half of this year, NBK continued to strengthen its operations across its markets, adopting the highest standards of sustainability and adhering to the best ESG practices. This commitment underscores the Bank's dedication to seizing optimal and sustainable opportunities while serving as a key partner for its customers in their efforts to secure sustainable financing.

Social Responsibility

On the social responsibility front, Al-Bahar stated that, as part of NBK's commitment to supporting the sustainable development of Kuwait’s economy and leveraging its position as the leading contributor to social responsibility in Kuwait, the Bank signed an agreement in 2Q2024 to develop Sharq area. This collaboration with Kuwait Municipality and Al-Shaab National Real Estate Company involves the establishment of a new public park and parking facilities, with an estimated investment of KD 8 million. The execution of this initiative is projected to take approximately two and a half years. 

Sustainable Growth

Meanwhile, Mr. Isam J. Al-Sager, NBK Group Vice Chairman and CEO, said: “NBK’s robust financial results for the first half of 2024 highlight the successful implementation of our strategy for sustainable growth. This achievement reflects our commitment to delivering long-term value to our shareholders, customers, the communities we serve, and all stakeholders”.

Al-Sager explained that NBK’s ability to sustain profit growth across various economic cycles clearly reflects its resilient business model and prudent approach to risk management. He noted that the group's net operating income increased by 8.2% year-on-year in 1H2024, reaching KD 612.4 million (USD 2.0 billion).

“Through its strategic investments in technology and innovation, as well as its commitment to investing in its employees as its most valuable asset, NBK has succeeded in delivering a banking experience that meets the evolving needs of its customers with a range of carefully designed digital services and products. The Bank remains dedicated to investing in these areas, recognizing innovation as a key driver of future growth,” Al-Sager added. 

Al-Sager highlighted that NBK Group continued to strengthen its leading banking brand across all business sectors, emphasizing strong performance in key areas in 1H2024. This includes notable growth in international operations which continues to support the Bank’s diversification strategy and contributing positively to both the Group’s operating income and net profits.

He explained that the strong contribution attributed to the international operations to the Bank’s profits, reflects the soundness of the Group’s vision and the proved success of its diversification strides. He also stressed that the Group will continue with its endeavor in strengthening its global banking operations, with an eye on key growth markets. 

In parallel with the Bank’s vision to increase international operations’ contribution to profits, expanding its global banking services, its commitment to providing exceptional mortgage solutions and tailored service that meet the investment needs of its clients in international real estate; NBK opened during the second quarter of this year the first international mortgage loan center of its kind in Kuwait at the Bank's headquarters; dedicated to serving clients intending to buy or finance real estate in the United Kingdom, France and the UAE. 

“The Group is also witnessing a significant expansion in the area of wealth management, particularly following the recent launch of “NBK Wealth", positioning it as the largest local wealth management firm and a major player in the region,” Al-Sager added.

Economic reform

Al-Sager expressed confidence in the government's ability to tackle significant economic challenges and execute a pragmatic reform agenda, uplifted by the backing of His Highness the Amir, Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah.

He emphasized that upon the implementation of these reforms and the initiation of significant development projects, alongside increased investment expenditure and alignment with policies that attract investments and bolster the role of the private sector in project operation and management, it will revitalize the local business environment. He highlighted NBK's commitment to solidifying its role as the primary partner of the government sector in funding major strategic initiatives.

On the prospects of domestic credit growth for the year 2024, Al-Sager said: “We are optimistic that credit growth will further improve for the remainder of the year for both business sector and household credit, compared to a decline in growth levels last year.” He attributed this to the positive momentum of project awards during 2Q2024, and anticipates an acceleration in its pace throughout the remainder of the year. Additionally, he cited expectations of lower interest rates in the second half of the year and an influx of Kuwaitis entering the labor market as contributing factors.

Driving Sustainable Leadership

In 1H2024, NBK maintained its leadership in sustainability by successfully issuing its first green bonds totaling USD 500 million. This issuance, oversubscribed by more than 3 times (USD 1.5 billion), marks the first green bond from a Kuwaiti financial institution and the first by a bank in the region this year. It stands as one of the largest green issuances by a conventional financial institution in the region. 

In another milestone in sustainability, Al-Sager announced that NBK has joined the Partnership for Carbon Accounting Financials (PCAF) initiative. This move positions NBK as the first bank in Kuwait and one of only six banks in the MENA region to join leading global financial institutions in measuring and disclosing greenhouse gas (GHG) emissions related to its lending and investment activities. He emphasized that this significant step strengthens the Bank's commitment to achieving carbon neutrality by 2060.

He further elaborated that in 1H2024, NBK has entered a strategic partnership with DHL to use the “DHL GoGreen Plus” service. Through its participation in GoGreen Plus, NBK ensures that all its international shipments are transported using Sustainable Aviation Fuel (SAF) rather than traditional jet fuel. This transition leads to a substantial reduction in carbon emissions that are linked to transportation. 

Prestigious Awards

Al-Sager highlighted that during the first half of 2024, NBK reinforced its leadership in Kuwait and the region by earning prestigious awards, further enhancing its global recognition.

He explained that NBK has received several prestigious awards from MEED international magazine as part of its MENA Banking Excellence Awards for 2024. The accolades include Best Retail Bank in Kuwait (NBK), Best Innovation Program in MENA, and Excellence in Sustainable Investment in MENA. Additionally, Weyay was recognized as the Best Digital Bank in Kuwait, and NBK Wealth was honored as the MENA Fund Manager of the Year. 

Kuwait: NBK Supports LOYAC’s “KON” program 

As a platinum sponsor, National Bank of Kuwait (NBK) welcomes the participants from LOYAC’s  program “KON”. This social entrepreneurship program is co-created with Babson College, the most prestigious entrepreneurship college in the United States and the number one institution in the world for entrepreneurship education. The program aims to introduce young adults between the ages of 12 to 16 to the world business and to turn their ideas into action. 

The program will take place in the American University of Kuwait (AUK) and includes 44 student trainees.

NBK will take part in the training sessions that will be ongoing until the 15 of August 2024. Throughout the five weeks program, leaders from NBK along with a group of professional leaders mentors and trainers, locally and regionally will encourage the participants to create a profitable business that solves social challenges. 

NBK’s sponsorship and participation in the program comes as a part of its strategic partnership with LOYAC. NBK is dedicated towards supporting talented young people and empowering them towards achieving their goals.

 “KON” is one of these initiatives that help invest and support young youths. NBK supported KON for eight consecutive years. The program provides its expertise to young people through training sessions and workshops and looks forward to seeing the participants moving into key leadership roles in their near future.

“KON” students will experience different stages during the program, thinking, planning and doing. The experiential learning journey the students undertake throughout the five weeks supports them to learn skills that include creativity, critical thinking, problem solving, communication and collaboration. The students also learn technical skills to write up a successful business plan, and how to pitch their business ideas to investors. By the end of the program, students will be able to present their business ideas before a jury panel, in addition to a professor from Babson College.

NBK believes that investing in human resources is investing in our future. The KON program goes along with NBK’s initiatives to invest in youth and support their aspirations. 

LOYAC is a nonprofit organization that runs several programs for the youth to develop their professional skills, enhance their personal growth and help them find their sense of purpose by extending themselves to others.

Kuwait: NBK First Bank to Implement Super IPaaS Solution in the Region

National Bank of Kuwait (NBK) signed a strategic partnership agreement with Software AG technology solutions company that will allow NBK to use the company’s solution as a unified platform to integrate applications and data, across its international locations of KSA, UAE, Bahrain, Egypt, London and France.

The five-year agreement was signed by Mr. Mohammed Al Kharafi, COO – Head of Group Operations and Information Technology at NBK, and Mr. Rami Kichli – Senior Vice President – ME and Turkey at SAG, in the presence of Mark Diamond – Chief Technology Transformation Officer at NBK, and Mr. Yaser Nasif – Country Manager – Kuwait Jordan and Qatar at SAG, and Mr. Feras Juma – Pre Sales and Solution Lead – ME and Turkey at SAG.

Speaking on this, Mr. Mohammed Al Kharafi, COO – Head of Group Operations and Information Technology at National Bank of Kuwait, stated: “We are happy to sign this partnership with SAG, which will provide us with integration suite that serves as a unified platform, seamlessly integrating applications, data, API management for our operations. This standardization will enable digital integration with beyond our Kuwait Head Office and across our international locations.”

“Under this agreement, NBK will obtain the cutting-edge Super iPaaS solution, which will enable integration of applications, data and API management across our international locations, thus enhancing execution efficiencies for our Consumer and Corporate offerings. This comes as we develop further our digital propositions into our international markets, marking a pivotal transformation towards increasing our operational efficiency” added Al-Kharafi.

“Group Operations and Information Technology play a fundamental role in serving NBK’s strategy by providing cutting-edge digital banking solutions. We are always seeking to embrace innovation across all of the bank’s operations and business models to keep pace with the fast-paced technological advancement in the banking industry,” he remarked.

On his part, Mr. Rami Kichli – Senior Vice President – ME and Turkey at SAG stated: “This signing with National Bank of Kuwait is significant for two reasons. First, it extends our robust and successful strategic partnership with Kuwait’s leading bank, which began in 2017, to modernize and refine its digital backbone to also include its international subsidiaries.”

“Second, it marks Software AG’s first Super iPaaS implementation in Middle East and Turkey, a milestone that underscores our commitment to innovation. The project highlights the critical role of integration in digital transformation, paving the way for innovative and unified services that support long-term goals and foster a more connected digital future,” he added.

It is worth mentioning that NBK is committed to making digital and technology investments across its network, which comprises 140 branches, subsidiaries, and representative offices in 13 countries on four continents. These locations encompass major financial hubs like London, New York, Paris, Geneva, and Singapore, as well as Shanghai in China, with regional coverage extending to Saudi Arabia, UAE, Bahrain, Egypt, Iraq, and Lebanon.

Kuwait: ‘NBK Aspire’ Summer Internship Program Kicks Off

National Bank of Kuwait (NBK) has kickstarted ‘NBK Aspire’ Summer Internship Program for 2024, targeting students between the age of 14 and 18 years attending high school, college, or university, as part of delivering its social responsibility towards the youth and students.

The bank hosted the first training session, which started on June 30 and will continue until July 11, focusing on topics related to integrity in the workplace, in cooperation with Kuwait Anti-Corruption Authority ‘Nazaha’, whose representatives lectured the students about its work nature.

The program’s curriculum for this year is divided into 4 two-week sessions, which include training courses and workshops delivered in cooperation with Creative Confidence. The first session scheduled from June 30 to July 11, 2024 focuses on integrity in the workplace, whereas the second session scheduled from July 14 to 25 includes trips to NBK’s different divisions. The third session is from July 28 to August 8 addresses cybercrime and the “Let’s Be Aware” banking awareness campaign by familiarizing students to cybercrime and how to protect themselves from financial fraud, and finally the last session from August 11 to 22, 2024 focuses on training, development and sustainability.

The program also includes a set of training and study materials that include working group mechanisms, creative thinking, optimal self-expression, customer-dealing skills, as well as service quality concept. This aims to qualify and empower students, and to provide them with the opportunity to benefit from the advanced, up-to-date training and academic materials provided in the program. These courses also include tours for participants to give them a closer look at the work mechanism in the bank’s divisions and branches.

On this occasion, Asmaa Bin Hussain, Senior Officer - Public Relations at National Bank of Kuwait said: “The goal of ‘NBK Aspire’ is to encourage students during their summer vacation to receive training and engage in the banking business experience. It also reflects the bank’s steadfast commitment to deliver its social responsibility by empowering and upskilling the young generation to play an active role in the future.”

“In light of the program’s resounding success over the past years, NBK always seeks to enhance its content with the aim of developing participants’ personal skills, such as training on presentation skills, and devising solutions for problem solving,” she remarked.

On his part, Ahmed Al-Othman, Senior Media Specialist at ‘Nazaha’, mentioned that the Authority was established as part of the international commitment under the United Nations Convention against Corruption (UNCAC), highlighting a number of Nazaha’s goals and competencies according to its Establishment Law No. (2) of 2016.

Meanwhile, Dr. Hussein Al-Sabbagha, Chief Specialist at ‘Nazaha’, reviewed the concept of integrity and the principles to achieve it. He touched on the ways to practice integrity in education with a direct message to the student group, highlighting the dangers of educational corruption and its impact on the educational process and its outcomes.

It is worth mentioning that NBK shows steadfast dedication to supporting the youth and students and developing their skills and experience through the most advanced training programs, which translates in upskilling and qualifying them to actively contribute to the success of public and private sector institutions in the future, thus promoting sustainability among national human resources.

Since founding, NBK has fostered corporate social responsibility culture as a cardinal principle for serving the community at large. To this end, it contributed large investments in social support, and introduced many meaningful programs in areas including education, healthcare, training and recruitment of national talent, social support and welfare programs as well as environmental and sports initiatives.

Kuwait: NBK Signs MoU with Kuwait Clearing Company

National Bank of Kuwait (NBK) signed a strategic memorandum of understanding with Kuwait Clearing Company (KCC) to develop the banking services provided by the bank in cooperation with the company.

The MoU was signed by Mr. Mohammed Al Kharafi, COO – Head of Group Operations and Information Technology at National Bank of Kuwait, and Mr. Duaij Al-Saleh, CEO of Kuwait Clearing Company, at NBK Headquarters in the presence of executives from both parties. It aims to further enhance mutual cooperation in developing electronic services, in a way that helps speed up operations and minimize associated risks, in addition to automating the services provided each party to the other.

This strategic cooperation between NBK and KCC would pave the way for future projects that help facilitate joint work and improve the services provided to the public. According to the MoU, NBK and KCC will hold periodic meetings to discuss business development opportunities through the exchange of technical expertise regarding the services provided between the two parties, and joint work to develop systems and prepare for related periodic tests, in a way that complies with regulatory requirements.

It is worth mentioning that NBK has successfully passed all the previous tests and is prepared for the upcoming ones related to Central Counterparty Project (CCP), which is considered one of key upcoming strategic projects that will make a qualitative shift in Boursa Kuwait by developing its performance, as well as upgrading clearing and settlement operations to meet international standards, which will reflect positively on the Kuwaiti economy in general.

Under the MoU, NBK and KCC will discuss automating daily reports to minimize manual entry risks and save time and effort, in addition to mutual coordination in training and familiarizing employees with the latest practical and technical developments, thus ensuring having highly up-to-date information.

On this occasion, Mr. Mohammed Al Kharafi, COO – Head of Group Operations and Information Technology at National Bank of Kuwait, stated: “Through this MoU, we seek to foster fruitful cooperation with KCC, with a focus on training, automation of daily operations, and working together to develop the related daily routine steps, in a way that streamlines operations and speeds up execution.”

 “At NBK, we are proud of our relationship with KCC, and the signing of this MoU aims to enhance banking services provided in cooperation with the company,” added Al-Kharafi. 

“One of the key services provided by the bank in this regard is e-Dividends allowing NBK shareholders to receive the dividend payments electronically, without the hassle to visit KCC Headquarters to receive checks, thus saving their time and effort,” he added.

Al-Kharafi stressed NBK’s dedication to providing the best digital banking solutions, while always striving to develop these solutions to keep pace with the rapid technological advancements in the banking sector, in order to deliver an integrated banking experience and exceptional services in cooperation with various public and private institutions.

On his part, Mr. Duaij Al-Saleh, CEO of Kuwait Clearing Company, said: “We are happy to sign this MoU with NBK, which is a key step in fostering mutual cooperation.”

Al-Saleh extended thanks to NBK for close cooperation and continued support in exchanging experience and knowledge with KCC, adding that “this memorandum reflects our joint dedication to upgrading financial services, which serves the interests of all parties.”

Kuwait: NBK Introduces “WAMD” Instant Payment Service on Its Mobile Banking App

National Bank of Kuwait (NBK) always seeks to enhance its digital services provided customers via the NBK Mobile Banking App. In this context, the bank announced introducing Instant Payment Service (WAMD) through the app starting from 30th of June 2024, for smooth and hassle-free money transfers.

The service comes within K-Net’s implementation of a new domestic account to account instant payments scheme in Kuwait under the authority and supervision of the Central Bank of Kuwait (CBK).

The instant payments system (WAMD) provides added value and quality to the national payment infrastructure capabilities. It also serves as a safe and advanced payment option that caters to the needs of different customer segments, while advancing digital transformation in Kuwait by increasing the volume of electronic financial transactions.

By introducing this service on its Mobile Banking App, NBK aims to gain a high level of performance for more customer satisfaction, as well as providing a reliable and secured service (users need a verification code during registration to the service).

The instant payment service to be provided on the NBK Mobile Banking App offers an easy way to transfer money as all customers need is a valid mobile number of the beneficiary to send the money. It also provides straightforward transactions, as customers need to input the beneficiary’s mobile number, transfer amount, purpose, as well as any other notes, and agree to the terms and conditions before executing the transaction.

To avail the WAMD service via the NBK Mobile Banking App, customer needs to register to the service and link one bank account with it, to be able to send, receive and request money. 

Commenting on service launch, Abdullah Al Mutawa, Head of Funds Transfer & Wealth Management Operations  at National Bank of Kuwait said: “NBK is a trailblazer in adopting the most advanced services that bolster its leadership in providing the latest digital banking solutions in instant payments in Kuwait.” 

“We make unwavering efforts to keep pace with customers’ ever-evolving needs and to live up to their growing expectations. We also strive to meet their preferences within our commitment to provide top-notch and highly advanced products and services,” he added.

Through the NBK Mobile Banking App, NBK aims to offer customers a secure platform to conveniently manage their finances at any given moment. This service facilitates a wide range of banking activities, including opening new accounts, monitoring transactions on accounts and credit cards, accessing accumulated NBK Miles and NBK Rewards Program points, settling credit card dues, making payments for electronic bills, locating the nearest NBK Branches, ATMs, and CDMs across Kuwait, submitting requests for account statements, updating personal information, as well as toll-free numbers to call when they are abroad to reach the bank for any help/inquiry.

Kuwait: NBK Signs Exclusive Collaboration Agreement with IE University - Spain

National Bank of Kuwait (NBK) signed an exclusive collaboration agreement with IE University – Spain, a globally recognized institution based in Spain and known for its innovative approach to higher education. The agreement covers several areas including talent development, promoting corporate innovation, developing and implementing integrated solutions, and leveraging the University’s capabilities in applied and academic research.

The signing ceremony was held at NBK Headquarters in the presence of Mr. Emad Al-Ablani, General Manager - Group Human Resources at National Bank of Kuwait, and Mrs. Irina Deneanu, Director, Corporate Relations Middle East Region at IE University, along with executives from both parties.

The agreement focuses on areas such as talent development, and will see IE University developing a tailored program to cater to the specific needs of NBK. This will be achieved through IE’s customized training design unit which leverages knowledge and materials from its training programs, Master’s programs from any of the five schools and the Executive Education Additionally, it includes promoting Corporate Innovation by designing, developing and implementing comprehensive innovation solutions together with NBK, and bringing IE University’s capacity, knowledge closer to NBK.

Through this agreement, NBK will also gain access to the applied research resources and capabilities of IE University, as well as priority invitations to register and attend the University’s events and annual open lectures.

Moreover, the agreement also includes aiding children of NBK Employees in master’s and  undergraduate programs at IE University, which offers an innovative environment with the constant presence of important figures from the academic and business world.

Furthermore, IE shall facilitate and support access of all employees of NBK Group (Kuwait and IBG locations) to its training programs. 

Meanwhile, NBK shall facilitate and support access by its employees to the training which IE offers, particularly allowing working hours which are compatible with the study needs of its employees who are admitted and who receive grants. 

Commenting on this collaboration, Al-Ablani said: “This collaboration is a key milestone in developing and upskilling our human resources as per the highest quality and excellence standards by partnering with leading international universities and experts, with a view to further elevate their career.”

“This partnership demonstrates our culture and vision of investing in the human capital and striving to develop well-qualified national banking leaders according to the latest and highest international standards,” he remarked.

“This agreement reimagines the relationship between institutions and employees by providing benefits and aids to the children of the bank’s employees to pursue their undergraduate studies at the prestigious IE University with discounted tuition fees for the first year, for the first year, renewable for the following years of the program provided the students maintain an adequate academic performance,” he explained.

“NBK places the development of its people as a top priority, harnessing all its capabilities to contribute to their career progression by providing training and development programs held in partnership with globally renowned educational institutions, in order to keep pace with the key changes in the banking business,” he added.

Irina Deneanu said: “IE University is thrilled to announce a significant milestone as we sign the corporate benefits agreement with our esteemed partner, NBK. This achievement underscores the unwavering commitment of NBK and IE University to foster talent development and personal growth through continuous learning at a top-tier institution.”

She added: “At IE, we are dedicated to maintaining innovation at the forefront of corporate education. This will enhance creativity and drive positive impact, especially in our ever-evolving world. This agreement not only benefits NBK employees and their children by providing opportunities to pursue EMBAs, Masters, and Undergraduate degrees at IE University, but also strengthens our collaborative efforts to create a strong impact on the corporate community. We remain committed to delivering sustained success and innovation.”

It is worth mentioning that NBK places learning and training initiatives at the heart of its strategic plans. It also enjoys a unique work environment and culture akin to international peers, making it the private sector employer of choice for Kuwaiti fresh graduates. NBK harnesses all its tremendous capabilities to develop and upskill its human capital, and always seeks to unlock their creativity, which reflects positively on their performance, and strengthens its leading position, locally and regionally.

Founded in 1973, IE University is considered one of the leading and top ranked universities in the world according to international magazines and newspapers including Forbes, The Economist, Financial Times and Bloomberg.

Kuwait: NBK Hosts Electronic Fraud and Prevention Awareness Session for Employees

National Bank of Kuwait (NBK) always seeks to intensify efforts to increase awareness on electronic fraud risks and protection methods among the public, as part of its continued participation in the “Let’s Be Aware” campaign introduced by the Central Bank of Kuwait, in cooperation with Kuwait Banking Association (KBA), which aims to promote financial literacy and raise awareness about the role of the banking sector and ways to maximize the benefit from its various services.

In this context, NBK’s Digital Communication team organized an awareness session for employees to highlight the latest forms of electronic fraud, the common methods used by scammers, and how to avoid falling victim to them.

Commenting on this, Abdul-Mohsen Al-Rushaid, AGM, Head of Digital Communications at National Bank of Kuwait said, “NBK aims to expand its efforts in spreading banking and financial awareness among all sectors of society, including employees, by familiarizing them with the latest forms of electronic fraud and how to steer clear of them, and highlighting how crucial is cybersecurity.”

“The engagement was great, as employees enjoyed the session and gained valuable insights that will undoubtedly benefit them and customers as well, thus minimizing electronic fraud cases,” he remarked.

“Such awareness activities help foster a fraud-resilient environment, which underscores our proactive approach in educating and empowering the public against fraud. As a leading financial institution in Kuwait and across the region, NBK frequently organizes various activities that contribute to raising awareness about all topics related to the banking and help in combating fraud and financial crime,” he mentioned.

“NBK uses all its digital channels to highlight different fraud types including fictitious investments whether in cash, commodities, virtual currencies or real estate. 

Additionally, it always warns customers against all fraud attempts via SMS, e-mail or phone calls by sharing messages on its social media platforms to warn customers against clicking unverified ads like those promising high gains, enticing individuals to register their personal information on fake trading platforms or accounts promising financial aids,” he explained.

It is worth mentioning that NBK is a key promoter and participant in all CBK’s campaigns and initiatives to increase financial and banking awareness among different sectors of society. The bank also ranked first in promoting the “Let’s Be Aware” campaign in 2023 according to CBK, outperforming all local banks.

Kuwait: NBK Grant’s Yousef Al Sarraf’s Wish to be an Actor

National Bank of Kuwait (NBK) continues its “I Dream to Be” initiative, a first-of-a-kind initiative that aims at granting wishes for children with severe illnesses around Kuwait, giving them the chance to live their dreams.

Yousef Al Sarraf, who is undergoing treatment at NBK Hospital, has always dreamt to become an actor and meet his favorite character Mohamad Al Hemely. NBK Public Relations approached Al Hemely whom with his theatre group helped in making Yousef’s dream come true.

NBK’s family arranged for Yousef to attend the “Zombie” show with his family and friends, where he had the chance to share the stage with Al Hemely, sing, dance and entertain. 

“Yousef’s dream to perform and act is yet another wish granted through NBK’s initiative “I dream to be”. We are proud to be a part of the children’s wishes and expand our support to them as much as possible to fulfill their dreams.” said Joanne Al Abdul Jaleel, NBK Public Relations Manager.

“I dream to be” initiative is a lifetime experience for children,” she added. “This initiative is a great way to spread joy and show that there’s always a positive side to a difficult situation”. 

NBK gives top priority to children through its commitment to its corporate social responsibility. NBK works closely with the Kuwait Association for the Care of Children in Hospitals (KACCH), Bayt Abdullah for the Care of Children in Hospice (BACCH) and several other special needs organizations to maximize its reach to all the children in numerous hospitals and schools through its “I Dream to Be” initiative.

NBK has been at the forefront of supporting Kuwait’s community through a range of initiatives towards education, health, sports and social responsibilities. The establishment of NBK’s Children Hospital stands as one of many ongoing corporate social initiatives towards health and children. “I dream to be” aims at focusing and supporting NBK’s efforts towards children and addressing their needs as much as possible.

Kuwait: NBK Launches Kuwait's First International Mortgages Center

National Bank of Kuwait (NBK) has inaugurated Kuwait's first international mortgages center at its headquarters, offering services to customers interested in purchasing or financing properties in the UK, France, and the UAE. 

The inauguration of the new center was marked by the presence of the Bank's executive management and aligns with the strategic vision articulated by NBK’s senior leadership. The initiative was led by Mr. Isam Al-Sager, Vice Chairman and Group CEO of NBK, with the support of Ms. Shaikha Al-Bahar, Deputy Group CEO of NBK, and Mr. Salah Al-Fulaij, CEO of NBK-Kuwait. Joining them were Mr. Omar Bouhadiba, CEO of International Banking Group at NBK, Mr. Zaid Al-Sager, Deputy Head of International Banking Group at NBK, and Mr. Mohammed Al-Othman, CEO of Consumer and Digital Banking Group at NBK, among other key executives. This initiative highlights the Group’s dedication to expanding its global banking services and providing bespoke mortgage and service solutions to meet the international real estate investment needs of its customers. 

Located in downtown Kuwait, the International Mortgages Centre complements the services provided by the Bank's Ras Salmiya and Surra branches, enhancing customer convenience. These branches offer a comprehensive array of international banking products and services, including mortgages.

This initiative aligns perfectly with NBK Group's strategic efforts to expand its footprint in real estate financing services both regionally and globally. By leveraging its extensive network of international branches and solid presence in key real estate markets worldwide, NBK capitalizes on its strong reputation and the deep trust it enjoys in Kuwait, the region, and beyond.

Through its international mortgage services, the Group empowers customers to fulfill their aspirations of owning properties in the UK, France, and UAE markets. This is facilitated by flexible financing terms, competitive interest rates, extended repayment periods, and financing covering up to 75% of the property value.

To facilitate overseas property purchases for its customers, the bank has introduced the new International Mortgages Center, providing convenient access to mortgage services and a variety of international real estate products. This initiative enables customers in Kuwait to access financing solutions and comprehensive real estate services without the need to travel, complementing the offerings at the Ras Salmiya and Surra branches. This streamlined process simplifies the path for customers aiming to own property outside Kuwait and to capitalize on unique opportunities in global markets.

The expansion of NBK Group's international mortgage services aligns with the bank’s strategy of diversifying its revenue streams across different industries and geographical regions. Notably, international operations contributed 24% of net operating income and 21% of the Group's profits in the first quarter of 2024. Moreover, as of the end of March, their share of the Group's total assets had increased to 41%. This underscores the growing significance of International Banking Group in improving the Group's financial performance. 

High Credit Limits

NBK Group clients looking to purchase real estate in the UK, France, or the UAE enjoy a range of advantages, such as substantial credit limits, competitive interest rates, and extended repayment terms. 

The International Banking Group, with a presence in key financial and business hubs, is dedicated to providing top-notch products and services. This commitment empowers customers to efficiently manage their personal and business affairs with ease and convenience. 

NBK remains committed to being readily accessible to its customers by offering a comprehensive suite of banking services, as well as investment and financing solutions. This dedication allows customers to easily access vital regional and global markets from Kuwait.

Kuwait: NBK Expands Its Efforts in Promoting Fraud Awareness and Protection to Include School Students

Reflecting its dedication to spreading financial awareness across all sectors of society under the umbrella of the “Let’s Be Aware” campaign introduced by the Central Bank of Kuwait, in cooperation with local banks and Kuwait Banking Association (KBA), National Bank of Kuwait (NBK) organized two cybersecurity sessions at two schools, public and private, thereby expanding its efforts to promote awareness on fraud risks to include the educational sector.

The sessions delivered to the students of Amra Bint Hazm School and Universal American School highlighted the different types and risks of cyber fraud and the required protection precautions. The sessions also included educating students on the principles of cybersecurity and tips to protect their accounts from fraudulent messages, by using strong, long hard-to-guess passwords which contain letters, numbers, and symbols, and changing them frequently.

Speaking on this, Sarah Al-Amad, Senior Communications Officer at National Bank of Kuwait said, “NBK is always dedicated to promoting banking and financial culture in the society. It is a pleasure to extend our awareness efforts to students in public and private schools to familiarize them with cybersecurity and educate them on the different types of fraud and required security precautions.”

“The engagement was great, with students not only enjoying the session but also gaining valuable insights that will undoubtedly benefit them in navigating online and protect them from cyber fraud,” she noted.

“Organizing such awareness activities underscore NBK’s proactive approach in educating and empowering individuals to steer clear of fraud. As one of the leading financial institutions in Kuwait and across the region, NBK frequently organizes various activities to raise awareness on all topics related to the banking sector to help combat fraud and financial crime,” she added.

NBK shares educational content on all its social media and other digital channels to warn customers against fictitious investments whether in cash, commodities, virtual currencies or real estate.

Moreover, the bank always warns customers against all fraud types via SMS, e-mail or phone calls by publishing material on its social media platforms to warn customers from clicking ads with unknown sources like those promising highly lucrative returns, enticing them to register their personal information on fake trading platforms to obtain profits, or accounts claiming offering financial aids.

It is worth mentioning that NBK is a key promoter and participant in all CBK’s campaigns and initiatives to increase financial and banking awareness among different segments of society. The bank also ranked first in promoting the “Let’s Be Aware” campaign in 2023 according to CBK, outperforming all local banks.

Kuwait: NBK Pioneers Sustainable Finance with USD500 Million Debut Green Bonds

National Bank of Kuwait (NBK) has successfully priced its first US$500 million green bonds under its Global Medium Term Note programme. 

The Green notes have a 6-year maturity and first call date after 5-years. The inaugural issuance not only marks the first Green issuance by NBK but the first of its kind out of Kuwait, marking a pivotal step towards NBK’s commitment to sustainable and transition finance.

Issued in both Reg S and Rule 144A formats, these bonds represent a landmark debut in the realm of green bonds from a Kuwaiti financial institution. NBK remains the sole FI issuer in 144A format, allowing investors from the US access to the scarce paper out of the country.

Notably, they also stand out as one of the largest green issuances from conventional financial institutions in the MENA region, underscoring NBK's pioneering role in advancing sustainable financial practices.

The issuance aligns with the Group's strategy to enhance the Bank's foreign currency liquidity, improve regulatory ratios, diversify funding sources, and showcase its commitment to ESG practices and principles. 

The total order book for the new issuance peaked at US$1.5 billion (Excluding Joint lead managers interest), resulting in an over subscription of more than 3 times. This reflects global investors' strong interest and confidence in the quality of NBK's credit position and its sustainability initiatives as well as the attractiveness of Kuwait as an investment destination. 

The bank's bond issuance saw strong reception from a diverse array of global investors and financial institutions. U.S. investors made up 49% of the issuance, followed by Middle East investors at 26%, UK investors at 18%, European investors at 5%, and Asian investors contributing 2% of the coverage. 

In terms of the bond coverage by investor type, asset managers accounted for 69%, followed by banks and private banks at 22%, while governments, insurance companies and pension funds made up 9% of the total investor base.

NBK continues to be the tightest non-sovereign issuer out of Kuwait. Strong investor demand provided the bank with a significant advantage in pricing the bonds, which featured a spread of 95 bps over US Treasuries, the equivalent of a 5.522% reoffer yield. The notes were issued at a discount and had a final coupon of 5.500%, fixed with semi-annual coupon payments until their first call date, followed by a floating rate of SOFR + 116 bps paid quarterly thereafter. 

The bonds will be listed on the Irish Stock Exchange (Euronext Dublin). The Bank will allocate an amount equivalent to the net proceeds from the bonds exclusively to finance eligible green assets, in accordance with the Sustainable Financing Framework launched by NBK Group in 2022.

Citigroup, JPMorgan, along with HSBC and Standard Chartered acted as Global Coordinators on the issuance. Additionally, Citigroup, JPMorgan, HSBC, Standard Chartered, Goldman Sachs International, First Abu Dhabi Bank, Emirates NBD, and National Bank of Kuwait acted as joint lead managers. 

NBK Group's ambitious sustainability strategy is meticulously crafted on a robust four-pillar framework. Rooted in a profound commitment, this strategy spearheads the drive towards a sustainable economy while championing the cause of sustainable finance within the region. At the core of its strategy lies the pillar of "Responsible Banking," shaping the bank's trajectory towards achieving net-zero emissions. This fundamental principle drives the evolution of products, services, and financing solutions offered to customers, embodying NBK's unwavering dedication to sustainability and environmental stewardship.

NBK has achieved significant milestones on its ESG journey. By introducing its comprehensive Sustainable Financing Framework, NBK has elevated its commitment to driving sustainable initiatives. This framework now serves as a cornerstone incorporated throughout NBK's diverse business models, operational strategies, and corporate culture. Embracing a future of sustainability and fostering a transition toward a low-carbon economy, NBK’s progressive approach harmoniously aligns with Kuwait's vision of achieving carbon neutrality by 2060.  

Looking ahead to 2030, the bank is steadfast in its commitment to cultivating a sustainable asset portfolio exceeding $10 billion. NBK has also set interim targets for its gross operational emissions (Scope 1 and Scope 2), targeting reduction of 25% by 2025. 

Furthermore, NBK is committed to integrating ESG standards into its business activities and decisions and has taken significant steps towards this commitment by joining the United Nations Global Compact (UNGC), the world's largest sustainability initiative for responsible business practices.

Setting new benchmarks in environmental accountability and as part of its carbon neutrality commitment, NBK has recently joined the Partnership for Carbon Accounting Financials (PCAF) initiative. This landmark move positions the Bank as the trailblazer from Kuwait and among just six banks within the MENA region to enlist alongside global financial giants. By participating in this initiative, the Bank commits to meticulously tracking and identifying the greenhouse gas emissions linked to its lending and investment activities, underscoring its dedication to transparent and responsible financial practices. 

In a notable achievement, and for the second consecutive year, the bank has recently received a score of "C" from CDP for its Climate Change and Forests 2023 Categories. 

Kuwait: NBK Joins the Official Inauguration Ceremony of Al-Zour Refinery

National Bank of Kuwait (NBK) participated in the official ceremony marking the full commissioning of Al-Zour Refinery, the largest refining facility in the world to be built in one phase. The event, hosted by Kuwait Integrated Petroleum Industries Company (KIPIC), a subsidiary of Kuwait Petroleum Corporation (KPC), was held under the patronage and in the presence of His Highness Sheikh Mishal Al-Ahmad Al-Jaber Al-Sabah.

Mr. Hamad Al-Bahar, Chairman of the Board of Directors, Mr. Isam Al-Sager, Vice Chairman and Group CEO, and Mr. Nabil Marouf, CEO of NBK Capital, represented NBK at the ceremony. 

Added Value

On this occasion, Vice Chairman and Group CEO, Mr. Isam Al-Sager, praised this historic milestone for Kuwait’s oil sector, highlighting Al-Zour Refinery as one of the largest international projects supporting the nation's development agenda and contributing substantially to the national economy.

Al-Sager stated, "NBK is the bank of choice for deals involving KPC and its subsidiaries, serving as the primary financier of Kuwait's oil sector. Our longstanding and close historical ties with KPC and its subsidiaries extend over many decades. Furthermore, the bank has actively contributed to nurturing the talents and potential of young individuals within the sector's organizations over the years.”

He elaborated on the bank's provision of substantial financing and leadership in numerous significant financing agreements for projects within the oil sector. This reflects NBK’s confidence in the strong financial position of KPC and its subsidiaries, as well as their exceptional management capabilities to execute growth strategies aligned with the 2040 strategy. 

He stressed that the bank's extension of long-term financing for significant projects in the oil sector, like Al-Zour refinery project, highlights its ongoing dedication to supporting competitive global initiatives. This underscores NBK's commitment to financing key strategic ventures across various sectors, with a notable emphasis on the oil industry. In this regard, the bank strengthens its position as the bank of choice for companies within the sector as they pursue expansion initiatives. 

Furthermore, Al-Sager emphasized that NBK possesses numerous remarkable advantages that set it apart, positioning it as the top choice for spearheading primary financing endeavors within Kuwait's oil and gas sectors. He elaborated that foremost among these advantages is the bank's capacity to engage in substantial financing endeavors. Additionally, he highlighted the bank's adept and specialized team in the oil sector, capable of delivering financing services to the sector with exceptional efficiency and speed, thus enabling the bank to secure the predominant share of financing within the local oil sector.

He also noted that beyond the financial collaboration, the strategic alliance between NBK and KPC along with its subsidiaries extends to training and development initiatives offered by the bank to oil sector employees. This partnership is gaining momentum, driven by the bank's steadfast dedication to this sector and its ongoing commitment to providing continuous support.

Large-Scale Financing 

Some of the noteworthy financing deals for Kuwait oil sector in which NBK has been involved over the past decade include:

In 2015, NBK's substantial engagement primarily centered around addressing the banking requirements of contractors participating in Al-Zour refinery project.

In 2016, NBK achieved a significant milestone by spearheading the financing for the KNPC Clean Fuels Project, valued at KD 1.2 billion. This represented the largest financing deal in Kuwaiti Dinars in the country's history, with NBK contributing KD 400 million to the financing facility. The bank's appointment to lead the banking consortium for this project highlighted its prominent status and exceptional reputation among major international institutions, affirming its extensive experience in arranging large-scale loans and financing facilities. 

In 2018, NBK played a pivotal role as the lead arranger and lender for financing Kuwait Integrated Petroleum Industries Company (KIPIC) LNG import terminal, amounting to KD 390 million. NBK's contribution to this financing totaled KD 140 million. Additionally, during the same year, the bank extended facilities of USD 500 million in the international trade finance segment for Duqm Refinery project in Oman. This refinery is jointly owned by Oman Global Integrated Energy Group (OQ) and Kuwait Petroleum International, a subsidiary of KPC. 

In October 2020, NBK arranged a syndicated loan totaling KD 1 billion for KPC, with NBK's portion of the syndicated loan facility standing at KD 360 million.

A landmark Accomplishment

The announcement of the successful completion of Al-Zour Refinery units' operation by KIPIC, a subsidiary of KPC responsible for refining, processing, and marketing, marks a historic milestone. The refinery has reached its peak refining capacity of 615,000 barrels per day of Kuwait Light Export Crude (KEC), constituting 43.5% of the total refining capacity of the State of Kuwait. This achievement will boost Kuwait's exports of oil derivatives, particularly low-sulfur grades that align with environmental compatibility standards.

The construction of Al-Zour Refinery, which commenced in 2015, signifies the establishment of the largest refinery in the world to be built in one phase and ranks among the top 10 refineries globally. 

This project comprises three independent mini-refineries engineered with advanced technical specifications. Remarkably, it includes the largest complex for desulfurization utilizing Atmospheric Residue Desulfurization (ARDS) to process residue generated in the crude distillation unit, marking a significant milestone in refining technology on a global scale.

The refinery stands as one of the pivotal initiatives outlined in KPC's 2040 strategy, aimed at bolstering the state's refining capacity. Its strategic objectives encompass various facets, including ensuring a secure and dependable supply to meet the Ministry of Electricity and Water's requirements for low-sulfur fuel oil (below 0.5% sulfur content). Moreover, the refinery aims to process Kuwait heavy crude oil to enhance economic yields and produce premium products of superior quality, thereby bolstering Kuwait's competitiveness in global markets.

Moreover, the refinery is set to make a substantial contribution to the nation's development strategy by encouraging private sector participation across the implementation and operational stages. This engagement is anticipated to create new job opportunities for Kuwaiti citizens and catalyze economic expansion in neighboring regions by improving investment prospects.

Kuwait: NBK Engages “Bankee” Students in Securing Tuition Fees for Children of Underprivileged Families

In a step to foster solidarity and charity among youngsters, National Bank of Kuwait (NBK) celebrated the completion of the donation drive of “Bankee” participating students to support the education of children of underprivileged families in Kuwait, which was organized in cooperation with Kuwait Red Crescent Society (KRCS).

The bank took the initiative to provide donation boxes in schools participating in the “Bankee” program for school year 2023/2024 to allow students make donations from their accumulated balance of the program’s virtual currency “Bankoz”, which they received as rewards and incentives during its implementation, to support the education of the underprivileged students. This was coupled with an awareness campaign by the bank at participating schools to encourage students to donate, in cooperation with the KRCS. Teachers were also asked to frequently remind students of the donation box, and to explain to them the merits of this virtue and its positive impact on society, in an effort to promote giving and philanthropic work and instill the values of cooperation and solidarity in them from an early age.

Following that, NBK collected and monetized students’ contributions into KD equivalent and donated the amount in the students’ name for the child education project supervised by the KRCS, to cover the tuition fees of a group of underprivileged students; thus enabling them to pursue their education and avoid dropping out.

In a ceremony held by the bank, the donated amount was presented to the KRCS, in the presence of representatives from the Ministry of Education, the Kuwait Anti-Corruption Authority “Nazaha” and Creative Confidence Company, along with teachers from participating schools, donating students, and their parents.

In the first year of its official kick-off, Bankee program was implemented in 30 public and private schools, attracting remarkable engagement from participating students.  The program not only improved their financial culture, but also had a tangible impact on many of them by cultivating key values including honesty and integrity, accountability and responsibility, collaboration and teamwork.

Miscellaneous initiatives

On this occasion, Manal Al-Mattar, Head of Group Corporate Communications at National Bank of Kuwait said, “NBK always seeks to cement its position as Kuwait’s leading socially responsible corporation by launching miscellaneous initiatives covering all sectors of society,” noting that “This initiative will have a positive impact on society on different levels.”

“The initiative instills multiple values in the students participating in the “Bankee” program who donated their balances of the “Bankoz” virtual currency, notably solidarity and extending a helping hand to others. Simultaneously, NBK’s monetizing of these virtual balances and donating the amount to support the education of a group of low-income students in Kuwait underscores its unwavering dedication to supporting the underprivileged groups in society on one hand, and ongoing support of education within its sustainability strategy, which promotes education as a key pillar, on the other hand,” she remarked.

“This donation magnifies students’ benefit from the “Bankee” program, by going beyond educating them financially to cultivating many moral concepts and values, which helps raise a generation of Kuwaiti youth who are capable of playing an effective role in achieving the desired sustainable development of society at large in the future,” she mentioned.

Child education

On her part, Maha Al-Barjas, Secretary General of the Kuwaiti Red Crescent Society extended appreciation to NBK, saying, “Through this initiative, NBK played two roles, one is educational, by fostering the culture of giving and charity among students who help their colleagues from underprivileged families who are financially incapable of pursuing their education. On the other hand, the bank demonstrated its pioneering role in charity and community service by providing a donation for the child education project supervised by the KRCS to be used in securing the tuition fees for a group of underprivileged students in Kuwait.”

“Child education project resonates with Kuwait’s government and people’s dedication to addressing the issues of the underprivileged families,” she stated, stressing that concerted efforts are needed to provide suitable educational opportunities for children and prevent dropping out.

It is worth mentioning that Bankee is Kuwait’s first hands-on school financial literacy program, which was launched by NBK with the aim of promoting financial inclusion, especially among school students, in an effort to set the younger generation in Kuwait on a path to a resilient financial future. The program aims to familiarize students with key financial concepts including earning, spending and saving, and financial responsibilities using classroom economy model.

Having achieved a remarkable success in its pilot phase, Bankee encouraged more schools and students to join it when it was officially kicked off at the beginning of school year 2023/2024.  Out of 150 applicants, 30 schools have been enrolled in the program so far, in addition to a special needs school for learning difficulties (Joan Al Kuwait Elementary School), with a total of 15,000 students and 3,000 teachers.

NBK has recently received the Bronze Award from Qorus in the Environmental, Social, and Corporate Governance (ESG) category for Bankee Program. This recognition underscores the bank’s commitment to incorporating innovations that integrate sustainability and ESG standards into its activities.

Kuwait: NBK Announces its Strategic Partnership with the Future Investment Initiative (FII) Institute

National Bank of Kuwait (NBK), the leading financial institution in Kuwait, and FII Institute, a global non-profit foundation dedicated to making an Impact on Humanity, marked a significant milestone today with the official announcement of their strategic partnership. The signing ceremony, held in Riyadh, brought together Anas AlUbaid, GM of NBK KSA, Musaad AlSudairy, CEO of NBK Wealth KSA, and Rakan Tarabzoni, COO of FII Institute, to set the stage for a transformative collaboration aimed at fostering growth and driving innovation in investment within the region and beyond.

Combining NBK's legacy of financial excellence and FII Institute's unwavering commitment to shaping the future through its impactful global initiatives, this partnership represents a powerful union of expertise and vision. With a shared dedication to driving positive change through the power of investment, NBK and FII Institute will join together to drive innovation.

This strategic partnership comes on the heels of the announcement of the 8th edition of the Future Investment Initiative (FII8) conference set for October 29-31 in Riyadh under the theme “Infinite Horizons: Investing Today, Shaping Tomorrow.”  It promises to convene today’s greatest minds to share their global perspectives, unlocking new frontiers for human advancement and impactful innovation. FII8 stands poised to transcend limitations and explore boundless opportunities for progress.

In statements echoing their enthusiasm for the partnership, the CEO of NBK Wealth KSA and the GM of NBK KSA expressed their confidence in the transformative impact that this collaboration will bring to the financial sector and beyond: 

Musaad AlSudairy, CEO of NBK Wealth KSA:

"We are thrilled to announce our collaboration with the FII Institute, a strategic alliance that will empower our clients globally and catalyze sustainable development. Together, we are not only investing in a brighter future but also unlocking new pathways for innovation, growth, and community prosperity."

“This partnership to address key global issues aligns perfectly with NBK's commitment to creating meaningful impact. Collectively, we will explore actionable solutions of the future, reinforcing our shared dedication to a sustainable and prosperous future."

Anas AlUbaid, GM of NBK KSA

"At NBK, we share the FII Institute's dedication to addressing global challenges through collaboration and innovation. By aligning our efforts, we aim to leverage our combined expertise to generate insights and solutions that will drive sustainable growth and improve lives worldwide. This partnership represents a significant step towards creating a more resilient and equitable future, benefiting not only our clients but also the global community."

Richard Attias, CEO of FII Institute, emphasized the importance of partnering with esteemed international institutions like the National Bank of Kuwait, known for its trusted seven-decade history and progressive approach to finance. He stated, “The deployment of strategic capital plays a crucial role in addressing the most pressing global challenges. Our collaboration with NBK represents a convergence of expertise and resources, advancing our collective mission to drive positive change and develop innovative solutions through our initiatives and programs.”

Kuwait: NBK Participates in the Career Fair of the 5th Wave of “Partners to Employ Them” Initiative for the Disabled

As part of its leading CSR contributions in Kuwait, National Bank of Kuwait (NBK) participated in the Career Fair of the 5th Wave of “Partners to Employ Them” Initiative for the Disabled 2023-2024, organized by the Public Authority for Disability Affairs (PADA) in collaboration with the Human Construction Society for Social Development (HCS).

During the Career Fair held on May 21st at the Cultural Center of Kuwait University – Shadadiya, the participating staff of NBK Group Human Resources presented the available vacancies for the disabled, as well as responded to all inquiries raised by the participants.

Participation in career fairs stems from its importance as a platform for supporting national talent to promote sustainable human capital for the future.

Commenting on this, Jarrah Al-Shatti Talent Acquisition Manager at National Bank of Kuwait said: “We are always keen on extending all sorts of support to all segments of society, particularly people with special needs. In this regard, our efforts include providing internship and programs to support university students and job candidates from people with special needs, to facilitate mainstreaming them into the bank, which also reflects our commitment to inclusion and diversity.”

“At NBK, we firmly believe in providing equal opportunities for all segments. Therefore, we have unwavering commitment to extend all sorts of support to the cherished special needs segment to drive their knowledge acquisition, regarding this a national duty and unshakable commitment,” he added.

“NBK believes in the potential of every individual in our society, and the need to provide them with due support for learning and development. Reflecting this belief, we have a policy for recruiting certain categories of special needs people, in cooperation with the Public Authority for Disabled Affairs (PADA) and the Public Authority for Manpower (PAM),” he noted.

To ensure ethical hiring practices, NBK adheres to strict governance frameworks, including fair labor standards and the provision of ability and work psychometric tests to all candidates, guaranteeing a transparent and unbiased recruitment process. The bank’s policies are rigorously designed to combat discrimination and promote a culture of equality and fairness across all hiring activities.

It is worth mentioning that NBK is the first bank in the Middle East to assign sign language trained staff in all branches to serve hearing-impaired customers. It has dedicated branches equipped with the latest services to accommodate and facilitate banking for customers with visual, hearing or physical disabilities, maintaining the following practices to cater to special needs: ATMs equipped with Braille keyboards and headphones, enabling visually impaired customers to make easy and secure withdrawals, Braille printing facilities, iPads with speech-to-text functionality for visually impaired customers, wheelchair access to branches (available in all branches), and reserved, clearly marked parking spaces for special needs customers. Moreover, the bank provides easily accessible safe deposit boxes, debit and credit cards with photo for easy identification, when requested.

Kuwait: NBK Named Best Bank for Women Empowerment for NBK Rise and Best Bank for SMEs in Kuwait

In reiteration of its excellence in providing innovative banking products and services, as well as its leading strides in promoting sustainability, National Bank of Kuwait (NBK) was recognized with two awards from Euromoney, the leading international business magazine, within its 2024 Awards for Excellence.

NBK was named “Best Bank for Diversity and Inclusion in Kuwait” for the “NBK RISE” Program and “Best Bank for SMEs in Kuwait” in the awarding ceremony held in Dubai last Wednesday.

The awards are a new addition to NBK’s record of prestigious accolades, reaffirming its unique position as a leading bank in Kuwait and across the region.

Best Bank for Diversity and Inclusion

NBK received Euromoney’s award for “Best Bank for Diversity and Inclusion in Kuwait” recognizing its Global Women Leadership Initiative “NBK Rise”.

The award’s criteria included showing a strong track record for initiatives promoting diversity and inclusion, demonstrating that diversity policy is having a positive effect on the performance of the bank and its offerings to clients.

This award reflects the bank’s unwavering dedication to providing an ideal work environment in which everyone can flourish. NBK is always committed to continuing its efforts to foster a more inclusive work environment for its employees, in line with its firm belief that diversity and inclusion are among the key factors for institutional success.

The award also comes in recognition of the bank’s significant strides to foster women empowerment, as the “NBK RISE” program represents an inspiring experience that is not exclusive for NBK, but brings together a number of leading corporations in Kuwait, who signed a pledge to increase the representation of women in leadership positions, reflecting their commitment to join forces to achieve the goals of this global initiative.

NBK regards diversity and inclusion as a fundamental culture, as its recruitment policies are based on equal opportunities and largely promoting diversity by ensuing that  job applicants are provided with equal opportunities without any discrimination based on their gender, age, race, religion, nationality or any other demographic characteristics, thus fostering a diverse and inclusive workplace.

NBK is also keen to promote equal opportunities, equality, diversity and inclusion in the workplace through various strategic initiatives and specialized programs to empower and develop female leaders, which helped increase the number of women in leadership and supervisory positions.

Best Bank for SMEs

This award recognizes the banks that can demonstrate outstanding commitment to the particular needs of small and medium-sized enterprises over the review period across financing, advice, trade, cash management and growth initiatives.

This award appreciates NBK’s efforts to support financing of SMEs, and also demonstrates its leading position as the top local bank in providing diverse, smooth and fast banking products and services that meet all the needs of SME clients and enable their success and growth.

NBK always seeks to provide the SME sector with a comprehensive range of competitive financing options backed by its world-class banking platform. It constantly strives to deliver outstanding services through its experienced Relationship Managers and specialized service channels.

National Bank of Kuwait is considered the leading institution in providing corporate banking products and services to meet the needs related to business activities. The bank has a strong track record in supporting companies to achieve their aspirations, and providing apt financial solutions that drive their success, growth, and innovation, thus strengthening and developing national economy.

Kuwait: NBK Celebrates the Conclusion of “Bankee” Program for School Year 2023/2024

National Bank of Kuwait (NBK) held the closing ceremony of “Bankee” Program for School Year 2023/2024, to celebrate the achievements made during the first year of its official implementation in a number of public and private schools, in collaboration with the Ministry of Education (MoE), Kuwait Authority for Anti-Corruption (Nazaha), and Creative Confidence.

The ceremony, which was held at Arraya Ballroom, featured honoring 250 teachers who trained students on using the Bankee program in 30 public and private schools in addition to a special needs school for learning difficulties (Joan Al Kuwait Elementary School), during school year 2023/2024. The honorees also included the principals of participating schools, in recognition of their efforts and pivotal role in achieving the program’s goal to increase financial literacy among school students, by guiding, directing, and assisting them to set their financial goals, monitoring their progress and extending required support to ensure successful implementation of the classroom economy model.

Success stories

The ceremony included sharing many success stories achieved by the Bankee program in its first year. 

Commenting on this, Manal Al-Mattar, Head of Group Corporate Communications at National Bank of Kuwait said, “Students showed remarkable engagement with the program’s attractive content, to the extent that it has become an integral part of their daily classroom activities. It also made a tangible difference in the lives of many of them by equipping them with the skills required to manage their finances and make decisions that support their financial future, in addition to the noticeable advancement in their financial culture and the positive changes in their behaviors after implementing the program in their schools.”

“Bankee” is Kuwait’s first hands-on school financial literacy program, which was launched by NBK with the aim of promoting financial inclusion, especially among school students, in an effort to set the younger generation in Kuwait on a path to a resilient financial future. The program aims to familiarize students with key financial concepts including earning, spending and saving, and financial responsibilities and instilling financial culture, which is done in an innovative and interactive way using classroom economy model,” she remarked.

“Moreover, Bankee aims to instill the main values including integrity and transparency, personal growth and development, accountability and responsibility, collaboration and teamwork. It also seeks to raise a generation of a young Kuwaiti generation who recognize the importance of financial welfare and independence, and have the required financial knowledge and skills to achieve sustainable development, economic welfare for individuals and the community at large,” she explained.

Digital bank

Bankee digital platform serves as a virtual bank, on which students receive their allowance, salaries, bonuses, and fines, and pay their expenses. Each student participating in the program has a virtual bank account, which simulates real-life financial transactions.

In Bankee, students are given the chance to apply for classroom-specific or school-wide jobs, which offer them an opportunity to earn additional income or salary. Classroom jobs are tailored to each classroom and encompass roles such as attendance monitor or teacher's assistant. On the other hand, school jobs involve participating in extracurricular activities at the school level, such as joining the student council and school radio team.

To instill core values and accountability, Bankee incorporates a system of bonuses and fines. Students can receive bonuses for exceptional performance or positive behaviors, while fines may be imposed for rule violations or inappropriate conduct.

15,000 Students

Having achieved a remarkable success in its pilot phase, Bankee encouraged more schools and students to join it when it was officially kicked off at the beginning of school year 2023/2024.  Out of 150 applicants, 30 schools have been enrolled in the program so far, in addition to a special needs school for learning difficulties (Joan Al Kuwait Elementary School), with a total of 15,000 students and 3,000 teachers.

Bankee also launched its website in Arabic and English, as well as social media pages on Instagram, TikTok and YouTube, to enable all participants to benefit from the provided content, activities and events held at different schools all year round.

It is worth mentioning that NBK has recently been honored with the Bronze Award from Qorus in the Environmental, Social, and Corporate Governance (ESG) category for Bankee Program. This recognition underscores the bank’s commitment to incorporating innovations that integrate sustainability and ESG standards into its activities.

Kuwait: NBK Pledges KD 8 million to Boost Sharq Area with New Park and Parking Facility

In a significant push towards sustainable urban development, the National Bank of Kuwait (NBK) has committed KD 8 million to a transformative project in the Sharq Area, in collaboration with Kuwait Municipality and Al-Shaab National Real Estate Company. This initiative will see the creation of a public recreational park and a multistory parking garage, aiming to enhance the urban landscape and address infrastructural needs.

The ceremonial signing took place at the headquarters of Kuwait Municipality, witnessed by Dr. Noura Al-Mishaan, the Minister of Public Works and Minister of State for Municipal Affairs; Mr. Isam Al-Sager, Vice-Chairman and Group CEO of NBK; and Eng. Saud Al-Dabbous, Director General of Kuwait Municipality. Representatives from the bank, Al-Shaab National Real Estate Company, and the Municipality were also present.

Spanning over 12,000 sqm, the new development will incorporate lush green spaces, a mix of soft and hard landscaping, and areas for public recreation. The accompanying parking facility is set to provide over 1,000 parking bays, significantly mitigating the persistent parking shortages and traffic congestion within the bustling Sharq business district.

This project aligns with the Kuwait National Development Plan (KNDP) and supports the objectives of Kuwait Vision 2035 to establish Kuwait as a leading financial and commercial hub. It also responds to a recent call by Kuwait Municipality for private sector engagement in beautifying and improving Kuwait City’s infrastructure.

Expected Benefits and Impact

Scheduled for completion in approximately two and a half years, the project aims to deliver multiple benefits:

• Easing Parking Shortages: Alleviating the acute lack of parking spaces in Kuwait City, as highlighted in recent traffic studies and the Structural Plan which considers the region’s ongoing and future urban developments.

• Reducing Traffic Congestion: Building on solutions from a comprehensive traffic study conducted by a consortium of private companies, under the oversight of the Public Authority for Roads & Transportation.

• Enhancing Public Spaces: The introduction of substantial greenery and landscaped areas will upgrade public services and pedestrian pathways, significantly enhancing the quality of urban life.

On this occasion, Mr. Al-Sager remarked, “This initiative reiterates NBK’s commitment to fostering sustainable development within the Kuwaiti economy and actively supporting the State’s developmental ambitions.” He further noted, “The development of a public park aligns with the State’s climate action goals and our bank’s mission to foster environmental, social, and economic welfare, in keeping with Kuwait’s pledge towards achieving carbon neutrality.”

“Moreover, constructing a well-equipped parking garage will address some of the critical traffic and parking challenges faced in Kuwait City,” he added.

Mr. Al-Sager also highlighted that environmental protection remains a pivotal element of NBK’s sustainability strategy, which integrates ESG standards across all operations to enhance value for all stakeholders.

In 2023 alone, NBK’s social responsibility efforts exceeded KD 28 million, including significant investments like the KD 3 million donation towards the development and beautification of the Shuwaikh waterfront, which spans 1.7 km.

This initiative is expected to set a benchmark for private-public partnerships in urban development, reflecting a shared commitment to enhancing Kuwait’s global standing and livability.

Kuwait: NBK Academy Welcomes the 29th Wave of Trainees

In line with its strategy to attract high-caliber national talent from Kuwaiti fresh university graduates and offer them suitable job opportunities, National Bank of Kuwait (NBK) welcomed the 29th wave of newly hired employees to its annual NBK Academy program especially designed for developing Kuwaiti fresh graduates.

The Opening ceremony was attended by Mr. Mohamed Al-Othman, CEO - Consumer and Digital Banking Group at National Bank of Kuwait, Mr. Mohammad Al-Kharafi, COO - Head of Group Operations and Information Technology, Mr. Ahmed Bourisly, GM – Corporate Banking Group, along with a number of executive managers and officials from Talent Management Department.

The program will run for 7 months, from May to November 2024, during which the trainees will receive intensive training on technological, behavioral and other skills that allow them to build a thriving career at NBK.

It also covers various aspects of the banking business including key banking principles, risk management, financial accounting, marketing, negotiation, as well as training on creativity, innovation and design thinking, increasing productivity. Following that, the trainees will receive intensified training on branch work mechanism for 5 weeks before having on-site training at NBK branches for 1 month.

At the final part of the program, the trainees will be familiarized with all NBK groups and departments through on-site visits to gain better understanding of the banking sector.

The participants will also present new ideas to the heads of different departments through the “Innovation Challenge” program, which aims to stimulate trainees’ creativity and introducing innovative solutions for the various training aspects covered in the Academy.

NBK Academy boasts a long record of success for 16 years. The program was specially designed for Kuwaiti fresh university graduates who successfully meet the admission criteria. It also hosts internationally accredited trainers to enable employees acquire specialized banking skills.

Commenting on this, Najla Al-Sager, Head of Talent Management, Group Human Resources at National Bank of Kuwait, said, “At NBK, we always seek to offer suitable job opportunities for Kuwaiti fresh graduates by attracting, developing and upskilling them to become and paving their way to start a thriving career based on solid foundations, thus creating added value to the banking sector in the future.”

“The Academy reflects NBK’s vision of fostering sustainable human capital as a key strategic objective and joint responsibility between the government’s different entities and the private sector,” she added.

“NBK Academy’s objective is to prepare highly skilled young Kuwait banking leaders in all the banking disciplines. This resonates with our ambitious plans to build a sustainable future, continuous elevation of service levels, and achieving steady business growth and expansion both locally and regionally,” she noted.

NBK Academy is an award-winning program which has received 3 awards from prestigious organizations over the past 3 years. The Academy was launched in 2008 with the aim of paving the way for Kuwaiti fresh university graduates to join the banking sector. It provides the trainees with the best-in-class training programs developed in cooperation with leading international institutions and universities to meet the demands of the labor market.

Kuwait: NBK Group Operations and Technology Hosts IBG Conference and Staff Open Day for 2024

In line with National Bank of Kuwait (NBK)’s overarching commitment to engage and empower employees being the cornerstone to achieving its strategic goals and furthering its success, Group Operations and Technology hosted the 5th IBG Operations and Technology Conference at NBK HQ on May 1 and 2, 2024.

The conference was attended by Mrs. Shaikha Al Bahar - Deputy Group CEO, Group Operations and Technology Management and International Banking Group Management and as well as Heads of Operations and Technology from different locations worldwide. 

On this occasion, Mr. Mohammad Al-Kharafi Chief Operating Officer, Group Operations and Information Technology said, “The IBG Conference underscores our commitment to collaboration and strategic alignment across NBK’s diverse international footprint. It’s a platform where our employees can engage, share insights, and collectively contribute to our global vision.”

“During the conference, Group Operations and Technology Management team in Kuwait presented the IBG Operations performance report, Operating model, IBG Technology Blueprint plan and Roadmap. This was followed by presentations from the Operations and Technology heads of IBG locations, who shared key achievements, roadmap, and challenges,” he added.

“Group Operations and Technology play a fundamental role in serving NBK’s strategy by providing cutting-edge digital banking solutions. We are always seeking to embrace innovation across all the bank’s operations and business models to keep pace with the fast-paced technological advancement in the banking industry,” he noted.

NBK has consistently embraced a forward-thinking approach towards international expansion, evidenced by its international branches, some of which have been operational for over 40 years. 

The expansion of cross-border transactions within IBG signifies a concerted effort by teams across various locations to cater to the needs of NBK's clients. Through collaborative efforts, these teams have facilitated a seamless NBK approach, ensuring that clients receive consistent and efficient service regardless of their geographic location. This collaborative approach not only enhances operational efficiency but also promotes our client-centric model, wherein client satisfaction and long-term partnerships are prioritized. By leveraging the collective expertise and resources of teams across different regions, IBG can deliver tailored solutions that meet the diverse needs of clients while upholding NBK's commitment to excellence and innovation in international banking services.

IBG’s robust contribution in driving profit growth underscores NBK’s forward-looking vision and the success of its diversification strategy, and emphasizes its continued dedication to increasing its presence in international markets and capitalizing on growth opportunities in the markets where it operates.

On a related note, Group Operations and Technology organized a staff Open Day at Sheikh Jaber Al-Ahmad Cultural Center (JACC). The event was attended by Mrs. Shaikha Al Bahar, Deputy Group CEO, Mr. Mohammad Al-Kharafi Chief Operating Officer and Mr. Emad Al-Ablani, GM - Group Human Resources, along with IBG locations Operations and Technology representatives and all Operations and Technology Kuwait employees. 

“The Open Day is a great opportunity to come together, share Milestones, Strategy, recognize outstanding achievers, participate in team activities, and socialize with colleagues,” quoted Al-Kharafi.

Additionally, Al-Kharafi presented a Strategy session along with his team during the event, followed by a staff awarding ceremony, and fun games to emphasize team building.

It is worth mentioning that NBK is committed to making digital and technology investments across its network, which comprises 140 branches, subsidiaries, and representative offices in 13 countries on four continents. These locations encompass major financial hubs like London, New York, Paris, Geneva, and Singapore, as well as Shanghai in China, with regional coverage extending to Bahrain, Egypt, Iraq, Lebanon, Saudi Arabia, and the UAE.

Kuwait: NBK Kickstarts the 2nd Edition of Its HIPO Mentoring Program for Developing Future Leaders

Building on the remarkable success of the program’s 1st edition in 2022, National Bank of Kuwait (NBK) has kickstarted the 2nd edition of its HIPO Mentoring Program for developing future leaders, which is organized in cooperation with IDRAK Training and Consultancy.

The program resonates with NBK’s consistent endeavors to develop employees’ career path and help them build a thriving career that drives its future growth. To this end, it involves transferring the knowledge and experience of highly qualified and experienced employees to the young talent to maximize their opportunities of progression and rising to leadership roles in the future.

The overarching objective of the NBK HIPO Mentoring Program is to ensure that all participants have an increased awareness of the benefits of mentoring including building critical relationships, enhancing communication skills and productivity and exchange of knowledge and experience, as well as increasing the engagement and retention of employees.

With 56 mentors and 170 mentees attending the program this year, it includes an introductory seminar attended by all participants, followed by intensive training for mentors and mentees through various workshops highlighting the meaning and importance of mentoring and how to make use of this relationship to transfer the skills and experiences of high-performing leaders to identified new and less experienced employees, in addition to boosting organizational communication and productivity, and improve the preparation of high-potential employees for transition into senior leadership positions.

On the last day of the program, a matching session will be arranged to allow the mentees to communicate with all mentors, so that each mentee will choose the mentor that best suits them to have an ongoing mentoring relationship for 18 months, which can extend further, if it proves successful. This will build a strong relationship between mentors and mentees, which will reflect positively on the performance of the bank’s human resources.

Commenting on this program, Mr. Emad Al-Ablani, GM – Head of Group Human Resources at National Bank of Kuwait, said: “NBK HIPO Mentoring Program reflects our steadfast commitment to investing largely in our human capital and increasing their efficiency by providing employees aspiring to rise to leadership roles in the future with career progression opportunities.”

“NBK places the development of its people as a top priority, harnessing all its capabilities to contribute to their career progression by providing training and development programs in line with its belief that diverse and high-caliber talent is key to sustaining success and achievements. 

Therefore, NBK HIPO Mentoring Program receives significant support from the bank’s executive management, being one of the key talent management initiatives serving a pivotal aspect of our human resources strategy, which aims to promote personal and professional growth and to increase the sharing of knowledge, skills and experiences among current and future leaders,” he highlighted.

“NBK harnesses all its capabilities to develop and upskill its human capital, and improve their performance, in order to ensure the quality of the human factor representing one of the bank’s core sustainability drivers,” he emphasized.

It is worth mentioning that during 2023, NBK has received many prestigious accolades in recognition of its excellence in developing human resources and talent.

Kuwait: NBK Opens Registration in NBK Aspire Summer Internship Program for 2024

Underscoring its social responsibility by showing support to the young generation and students, National Bank of Kuwait (NBK) has announced opening registration for NBK Aspire Summer Internship Program for 2024, targeting students between the age of 14 and 18 years, which is scheduled to kickstart on June 30.

The program’s curriculum for this year is divided into 4 two-week sessions, which include training courses and workshops delivered in cooperation with Creative Confidence. The first session scheduled from June 30 to July 11, 2024 focuses on integrity at work, whereas the second session scheduled from July 14 to 25 includes trips to NBK’s different divisions. The third session is from July 28 to August 8 addresses cybercrime and the “Let’s Be Aware” banking awareness campaign by familiarizing students to cybercrime and how to protect themselves from financial fraud, and finally the last session from August 11 to 22, 2024 focuses on training, development and sustainability.

The program also includes a set of training and study materials that include working group mechanisms, creative thinking, optimal self-expression, customer-dealing skills, as well as service quality concept. This aims to qualify and empower students, and to provide them with the opportunity to benefit from the advanced, up-to-date training and academic materials provided in the program. These courses also include tours for participants to give them a closer look at the work mechanism in the bank’s divisions and branches.

Commenting on this, Yaqoub Al Baqer, NBK Public Relations Senior Manager at National Bank of Kuwait, said, “NBK Aspire Program’s goal is to encourag students during their summer vacation to receive training and engage in the banking business experience. It also reflects the bank’s steadfast commitment to deliver its social responsibility by empowering and upskilling the young generation to play an active role in the future.”

“In light of the program’s resounding success over the past years, NBK always seeks to enhance its content with the aim of developing participants’ personal skills, such as training on presentation skills, and devising solutions for problem solving,” he added.

“NBK shows steadfast commitment to supporting the youth and students and developing their skills and experience through the most advanced training programs, which translates in upskilling and qualifying them to actively contribute to the success of public and private sector institutions in the future, thus promoting sustainability among national cadres,” he noted.

It is worth mentioning that since founding, NBK has fostered corporate social responsibility culture as a cardinal principle for serving the community at large. To this end, it contributed large investments in social support, and introduced many meaningful programs in areas including education, healthcare, training and recruitment of national talent, social support and welfare programs as well as environmental and sports initiatives.

Kuwait: NBK Becomes the First Bank In Kuwait to Adopt “DHL GoGreen Plus” Service

National Bank of Kuwait (NBK) has entered into a strategic partnership with DHL, a prominent global logistics company, to use the “DHL GoGreen Plus” service, strengthening its leading position as Kuwait's first bank to participate in this global initiative.

The collaboration underscores the Bank's commitment to advancing sustainability efforts into the business, culture, and operations, thereby facilitating the shift towards a sustainable, low-carbon economy. This strongly aligns with NBK’s pledge to attain carbon neutrality by 2060.

Through its participation in GoGreen Plus, NBK ensures that all its international shipments are transported using Sustainable Aviation Fuel (SAF) rather than traditional jet fuel. This transition leads to a substantial reduction in carbon emissions.

Under this strategic partnership, NBK will be awarded an annual sustainability certificate, which was announced to NBK’s Group Administration Services during the signing ceremony of the agreement.

Commenting on the partnership, Mr. Fahad Al-Thuwaini, GM – Head of Group Administration Services at NBK stated, "This step is part of NBK's efforts to move towards a sustainable future, focusing on industry leading ESG practices, aligning with our goals of achieving carbon neutrality by 2060, and our aspiration to achieve net-zero operationally by 2035."

“Last year, NBK took decisive steps into embedding ESG principles into its supply chain management by revising the bank’s procurement policies and procedures, implementing a more sustainable procurement strategy and methodology.” Al-Thuwaini added. 

On behalf of DHL, Mr. Makram Raad - Country Manager Kuwait said, "We are thrilled to forge this strategic alliance with NBK, a financial institution of significant size and stellar reputation. Being the first bank in Kuwait to sign up for DHL GoGreen Plus service underscores NBK's commitment to environmental sustainability. This partnership will bolster our joint efforts to reduce emissions, advancing our aim of reaching net-zero emissions by 2050."

Raad highlighted that the "GoGreen Plus" service enables DHL’s customers to mitigate the carbon emissions linked to their air cargo by utilizing sustainable aviation fuel. This fuel is produced from alternative raw materials sourced from sustainable energy, such as cooking oil, waste, and hydrogen. SAF can provide greenhouse gas emission reductions of up to 80 percent over its lifecycle compared with the conventional jet fuel it replaces.

Acknowledging NBK's leadership in sustainability both locally and regionally, the bank was recently awarded the Best Bank in the Middle East for ESG-Related Loans Award 2024, by Global Finance. In its fourth annual survey, Global Finance acknowledged prominent global and regional organizations for their sustainable finance initiatives in 2023, which significantly mitigated the adverse effects of climate change and fostered the development of a more sustainable future for humanity. In 2023, NBK embarked on a new trajectory in its ESG strategy by integrating ESG standards into business activities and expanding its offerings to green mortgage loans, consumer loans for electric vehicles, sustainability-related financing, and low-emission housing loans.

For the second consecutive year, NBK has upheld its robust ratings in the CDP initiative, earning a score of "C" in the categories of Climate Change and Forests in 2023. This accomplishment reinforces the bank's prominent standing as the only bank in Kuwait to secure a rating from CDP, a global non-profit organization acclaimed for its environmental disclosure platform. This recognition positions NBK as one of the leading financial institutions in the GCC for upholding the highest standards of environmental stewardship.

Kuwait: NBK Bags 6 Prestigious Banking Excellence Awards from MEED

National Bank of Kuwait (NBK) has received 6 prestigious awards from MEED international magazine within its MENA Banking Excellence Awards for 2024. The accolades come in recognition of its excellence in consumer banking and enhancing customer digital experience through innovative solutions, as well as achievements in sustainable investment and delivering market-leading wealth management services through NBK Wealth.

Excellence in retail banking and digital innovation

The awards won by NBK during the annual ceremony organized by MEED in Dubai included: Best Retail Bank –Kuwait (NBK), Best Digital Bank –Kuwait (Weyay). The bank also received two awards for Best Innovation Programme in MENA, and Excellence in Sustainable Investment in MENA for NBK Academy, whereas NBK Wealth was awarded MENA Fund Manager of the Year. 

On the other hand, Mr. Mohamed Al-Othman, CEO - Consumer and Digital Banking Group at National Bank of Kuwait was named MENA Retail Banker of the Year for the third year in a row.

These awards are a testament to NBK’s leadership locally and regionally and its pioneering innovative digital achievements and catering to customers’ banking needs by introducing top-notch banking services and advanced payment solutions, making the name “NBK” associated with everything new in digital banking products and services in Kuwait and across the MENA region.

Al-Othman MENA Retail Banker of the Year

Naming Al-Othman as MENA Retail Banker of the Year reaffirms his pivotal role, along with Consumer Banking Group team in attaining these achievements and providing a comprehensive digital banking experience that not only meets customers’ needs, but exceeds their expectations.

This award recognizes exceptional leadership and dedication to providing the best banking services, in addition to constantly working to set ambitious goals and implement innovative strategies that have not only had a significant impact on NBK customers, but also on the Kuwaiti and regional banking landscape. It also highlights the long-term impact of Al-Othman’s contributions as a role model for banking leaders who are driving progress and innovation in the industry in the region.

As for Best Digital Bank award won by Weyay Bank, the first digital bank in Kuwait, it recognizes the exceptional growth seen by the bank in digital banking services since its launch in 2021, strengthening its position as a local pioneer in this area through unwavering endeavors to introduce new innovative banking products. It also reflects its instrumental role in providing advanced services which cater to the evolving needs and lifestyle of the digital-native generation, through a wide range of digital banking products and services.

Excellence in Sustainable Investment

On the sustainability front, NBK received the award of Excellence in Sustainable Investment in MENA for NBK Academy program which boasts a legacy of success for 16 years. The Academy was launched with the aim of qualifying Kuwaiti fresh university graduates to join the banking sector by providing them with the best-in-class training programs developed in cooperation with leading international institutions and universities to meet the demands of the labor market.

Founded in 1957, MEED is a leading magazine focused on economic and business news and intelligence related to the Middle East. In partnership with leading financial services publications Retail Banker International and Private Banker International, both issued by GlobalData, MEED introduces MENA Banking Excellence Awards to celebrate the best-in-class banking and financial services institutions and individuals for their innovative offering and commitment to customer excellence.

Kuwait: NBK Executive Management Continue Follow-up of “Bankee” Implementation in Schools

The Executive Management of National Bank of Kuwait (NBK) continue their visits to public and private school across Kuwait to follow up the implementation of the “Bankee” program, which was officially initiated in this school year in partnership with the Ministry of Education, Kuwait Authority for Anti-Corruption “Nazaha”, and Creative Confidence.

In this context, the bank organized a visit to Amra Bint Hazm Elementary School for Girls in Faiha Area featuring the participation of Mr. Sulaiman Al-Marzouq, Deputy CEO of NBK-Kuwait accompanied by representatives from Ministry of Education and Nazaha, in which they closely monitored the latest updates regarding the school students’ financial literacy program.

During the visit, Al-Marzouq toured several classrooms within the school to review in detail the implementation of program, including the virtual bank experience that allows students to have a financial account in which they use the “Bankoz” virtual currency, and how they win prizes and rewards as they accumulate the program’s currency in their accounts in exchange for their exceptional performance and behavior.

The school administration stated during the visit that “Bankee” has become an integral part of the students’ daily classroom activities, highlighting that they are highly engaged with the program’s attractive content, and the remarkable development in their financial culture, and the positive changes in their behaviors after implementing the program.

On the right track

Commenting on this, Al-Marzouq said, “We are very happy with the great interaction of students in various Kuwaiti schools with the Bankee program during the first school year of its official implementation, which indicates that it is on the right track to achieve its desired goal.”

“The objective of “Bankee” is to prepare a financially literate generation who are capable of managing their own and their families’ finances in the future, by instilling basic economic concepts in students at an early age, such as earning, spending, saving, and calculating financial obligations, and promoting sound financial practices such as wise spending and saving. This is done through a program that simulates real-world economy in a practical and interactive manner, which will benefit the whole society in the long term, and have positive impact on the Kuwaiti economy in general,” he noted.

Al-Marzouq emphasized that NBK extends utmost support to national initiatives that aim to enable the Kuwaiti young generation to play an instrumental role in building Kuwait’s renaissance and prosperity in the future, indicating that investing in students at a young age and providing them with the required educational support and assistance as per the latest international standards would create a generation who are capable of raising Kuwait’s flag high in all fields.

Financial inclusion and sustainability

“The Bankee program is part of our broader commitment to promoting financial inclusion and spreading financial culture among all segments of society. It also aligns with the bank’s sustainability strategy, which focuses on supporting education as a fundamental part, reflecting our firm belief that it is the cornerstone of Kuwait’s renaissance and progress,” Al-Marzouq added.

“The program also establishes a concept that the bank strongly supports and encourages in delivering its social responsibility, which is cooperating with public and private sector entities to implement various initiatives, launch programs and entering into partnerships to extend support to all segments of society in different fields.

Having achieved a remarkable success in its pilot phase, Bankee encouraged more schools and students to join it. Out of 150 applicants, 30 schools have been enrolled in the program so far, in addition to a special needs school for learning difficulties (Joan Al-Kuwait Elementary School), with a total of 15,000 students and more than 3,000 teachers. 

Bankee also launched its website in Arabic and English, as well as social media pages on Instagram, TikTok and YouTube, to enable all participants to benefit from the provided content, activities and events held at different schools all year round.

It is worth mentioning that NBK has recently been honored with the Bronze Award from Qorus in the Environmental, Social, and Corporate Governance (ESG) category for Bankee Program. This recognition signifies the bank’s commitment to incorporating innovations that integrate sustainability and environmental, social, and governance standards into its activities.

“Bankee” stands as the pioneering program launched by NBK, designed to contribute to financial inclusion, especially among school students, with a view to promote sustainable financial literacy within the community in the future. NBK officially kickstarted the program in October 2023 in collaboration with the Ministry of Education and Nazaha.

Kuwait: NBK Commends NEOM GIGA Project Progress and Sees Opportunity for Growth

National Bank of Kuwait (NBK), renowned as one of the region's leading financial institutions, has received an exclusive invitation, alongside a select group of international banks, to witness firsthand the progress of NEOM project. As a leading bank with a steadfast dedication to monitoring development initiatives throughout the GCC, particularly in the vibrant Saudi market, this invitation underscores NBK's esteemed reputation and its pivotal role in shaping the economic landscape of the region.

NEOM, a monumental US$500 billion GIGA Project supported by the Public Investment Fund (PIF), stands as a cornerstone of Saudi Arabia's transformative trajectory, marking a pivotal moment in the nation's quest to broaden its economic horizons and cultivate sustainable development. The tour, which comprised representatives from 52 global, regional, and local financial institutions, highlighted the advancements made in key projects such as THE LINE, Oxagon, Trojena, and Sindalah. An integral component of the itinerary involved a site visit to THE LINE, affording participants the opportunity to witness the rapid progress of phase one construction and gain a comprehensive insight into the project's innovative design, in addition to an aerial view of Sindalah, a luxury island destination set to open soon.

Among the global banks invited to NEOM, NBK made a lasting impression by showcasing its keen interest in the ongoing projects and investment prospects within the region. This gathering served as a valuable platform for financial institutions to seek potential partnerships and align investment strategies with NEOM's vision of sustainable growth and development. NEOM's commitment to fostering collaboration with international partners highlights its pivotal role in driving economic transformation and innovation on a global scale.

Leading the NBK-Saudi team at the event was Mr. Zaid I. Al-Sager, General Manager - Deputy Head of International Banking Group at National Bank of Kuwait. Reflecting on this exceptional occasion, Mr. Al-Sager remarked, "It was a privilege for us to be among the exclusive group of banks directly invited to observe the continuous advancements in this pivotal project and assess investment possibilities. This invitation not only highlights NBK's prominence and significance in the region but also underscores our dedication to supporting Saudi Arabia's growth and progress." 

“I am delighted to convey our profound admiration for the NEOM Project in Saudi Arabia—an extraordinary initiative that seamlessly aligns with the ambitious objectives outlined in “Saudi Vision 2030”. Serving as a pioneering model for sustainable living, working, and thriving, NEOM emerges as a nucleus for innovation, drawing the brightest minds from across the globe to shape the future landscape,” Al-Sager remarked.

“As we observe the culmination and commencement of several NEOM initiatives and stages by the year's end, NBK reaffirms its steadfast commitment to supporting economic prosperity and sustainability in Saudi Arabia and beyond. With a distinguished track record of excellence in banking and financial services, NBK offers an extensive portfolio of products and solutions tailored to meet the diverse needs of its corporate and individual clients. Committed to fostering sustainable development, NBK continues to play an active role in supporting the advancement of the communities it serves,” added Al-Sager.

“At NBK, we are committed to offering more than just financial support; we strive to instill new values and opportunities into all our projects. Through our extensive array of services, which includes project finance, NBK mortgage, and Corporate Real Estate Services (CRES), we aim to empower both businesses and individuals to achieve their goals and play a part in fostering the sustainability of the Saudi economy,” he further stated.

Al-Sager also highlighted that NEOM's sustainable objectives resonate harmoniously with NBK's strategic vision, as both parties are committed to fostering economic growth while prioritizing environmental sustainability and social responsibility. He further stated that NEOM's ambitious sustainability goals, encompassing renewable energy, conservation efforts, and eco-friendly infrastructure, align seamlessly with NBK's overarching strategies aimed at promoting sustainable development and responsible banking practices. 

NBK has continuously strived to bolster its presence in the GCC, with a particular focus on the lucrative Saudi market and the burgeoning projects sector. Recognizing the immense potential and growth opportunities within the region, the bank has remained committed to expanding its footprint and leveraging its expertise to tap into the dynamic Saudi market. The bank's strategic endeavors in this regard underline its dedication to capitalizing on the numerous projects and investment prospects emerging across the GCC, positioning itself as a key player in driving economic development and prosperity in the region.

In parallel, NBK's International Banking Group (IBG) continues to spearhead the bank's efforts in expanding its international footprint and fostering strategic alliances with global partners. 

Leveraging its expertise and network, IBG plays a pivotal role in facilitating cross-border transactions, providing a comprehensive array of services, and unlocking new business opportunities in key markets worldwide. As NEOM emerges as a focal point for international investment and innovation, NBK remains poised to capitalize on these opportunities, further solidifying NBK's position as a leading financial institution in the region and beyond.

Kuwait: NBK Unveils a New Package of Services and Enhancements on Its Mobile Banking App

As a trailblazer of digital banking, and keeping with its unwavering dedication to addressing customer feedback and meeting their requirements, National Bank of Kuwait (NBK) focuses on adding new products and services to its Mobile Banking App, which accounts for the major share of customers’ banking transactions, thanks to the rich digital experience enabling them to manage their accounts, and conveniently and securely conduct their transactions anytime, anywhere, 24/7 without the hassle of visiting branches.

In this context, responding to market trends and customers’ needs, NBK has introduced new services as well as enhancements to existing ones on its Mobile Banking App, which included the following: 

Prepaid Cashback Card

NBK has launched the new NBK 247 Cashback Visa Platinum Prepaid Card offering customers up to 24% cashback on their daily purchases, allowing users to turn their daily purchases into a new way of savings.

By transferring their daily spends from their debit card to the new prepaid card, customers get a cashback of 24% on streaming services (payment should be done through the streaming app or website and not through any other service provider), 7% on Food delivery (only on food delivery apps, not direct orders from restaurants), 4% on Bill payments (telecom bills that are paid through the app or website of the telecom companies or through any of their branches, and not through any service provider), 2% at hospitals, clinics and pharmacies, as well as 2% on Grocery, and 0.7% on Digital payments (made using digital wallets).

Customers can apply for the card through NBK Mobile Banking App and once they register the card in the digital wallet, they will be able to use the card immediately.

Quick Send: 

The Quick Send feature offered by NBK enables customers to send money directly via NBK MOB to receive from any local bank by entering the receiver’s name, mobile number, and the amount to be sent. The receiver gets a link via (SMS) on the mobile. When clicking the link, the receiver has the option to proceed with NBK Mobile Banking App (for NBK Customers) or via K-Net and the money will be received immediately. For the first time in Kuwait, customers can send money from the app to multiple recipients. 

Load Account: 

The ability to load NBK account using K-Net portal. The amount can be loaded anytime, anywhere, even on weekends and official holidays. If customers would like to load money into their accounts, they can now do so on the K-Net payment gateway through NBK Mobile Banking Application. 

Customers are only required to choose the desired account in which they would like to top up funds to, along with the desired amount. From there they will be directed to the K-Net portal where they will enter their card details and their account will be loaded successfully.

Contact Your Relationship Manager:

NBK Mobile Banking Privilege users will be able to view the name of their Relationship Manager (RM), contact details, and book appointments with them via NBK’s Mobile Banking App. Customers can book appointments by selecting the date and time, during the branch’s working hours with few easy taps. 

Update Civil ID by PACI: 

The ability to provide a service where customers are able to update their Civil ID expiry date through Mobile Banking App by the Public Authority for Civil Information (PACI). Simply, when their Civil IDs are about to expire or have expired, a banner will be displayed informing the customer that they need to do the update. This will be done after customers allow NBK to get their information from PACI. A Notification will be sent to customers to confirm the transaction is accepted or rejected.

Product Nickname:

The ability for users to rename NBK products including accounts, cards, loans and even beneficiaries. Users can edit the product name at any time or delete it. This enables users to access the product quickly and conduct transactions while on the move. In addition, it makes it easier for them to recognize and refer to the product they renamed as per their preference.

Submit A Suggestion:

As part of its ongoing efforts to foster continuous communication with customers and engage with their feedback regarding the bank's services, the bank now allows users to submit their suggestions directly through the NBK Mobile Banking App. This update enables customers to provide input on various aspects such as accounts, cards, loans, payments, and transfers, enhancing the bank's responsiveness to customer needs and preferences.

Secondary Prepaid Card Ordering: 

Through the NBK Mobile Banking App, NBK Customers can request a secondary prepaid card linked to their account. This service enables the primary cardholder to extend credit card benefits to other family members while maintaining full control over spending limits.

National Bank of Kuwait (NBK) remains committed to enriching its customers' digital experience through the NBK Mobile Banking App, by introducing additional services and implementing features and enhancements designed to meet customer preferences and fulfill their needs.

In keeping with its unwavering dedication to addressing customer feedback and meeting their requirements, NBK has introduced a number of enhancements and additions to its NBK Mobile Banking App. These enhancements empower customers to conveniently and securely conduct electronic transactions anytime, anywhere.

The following are the new features and services included in the update:

Various Enhancements

In addition to these new services, and keeping with the bank’s constant endeavors to improve the existing services available on the NBK Mobile Banking App to exceed customers’ expectations, users can now view the remaining monthly transfer limit on the form itself. This makes it easy to the users to know how much they have transferred money during the month and how much is remaining to better manage their accounts and transfers on monthly basis.

Enhancements also included 3D Shortcuts, offering a faster way for the users to access their favorite services on the App.

In addition to introducing new services, NBK has implemented several enhancements to the NBK Mobile Banking App, further enhancing the electronic experience for its customers. Among these improvements, customers can now easily add the prepaid cards they issue via the NBK Mobile Banking App to their Apple Wallet at the time of issuance. 

Commenting on the launch of the new services and enhancements, Mohammad Al-Dakheel, Head of Mobile Banking, Consumer Banking Group at National Bank of Kuwait, said, “Our consistent efforts to introduce new features and ongoing enhancements to the NBK Mobile Banking App underscores our dedication to enhancing a banking experience tailored to the genuine needs and aspirations of our customers. This endeavor aligns with our goal of reshaping their lifestyles through a meticulously crafted range of digital services and products, designed with precision and care.”

Al-Dakheel added that the enhancements and new services stand as a testament to the bank’s deep understanding and awareness of its customers’ aspirations. This understanding is reflected in the rising satisfaction rates among customers and the notable increase in the utilization of the NBK Mobile Banking App. “Through the NBK Mobile Banking App, we provide a comprehensive banking experience that empowers our customers digitally and provides them with the latest and most advanced banking services,” he noted.

“These enhancements come in response to market trends and requirements on the one hand, and to fulfill customers’ needs on the other hand, as we strive to elevate our digital services beyond their expectations,” he explained.

Through the NBK Mobile Banking App, NBK aims to offer customers a secure platform to conveniently manage their finances at any given moment. This service facilitates a wide range of banking activities, including opening new accounts, monitoring transactions on accounts and credit cards, accessing accumulated NBK Miles and NBK Rewards Program points, settling credit card dues, making payments for electronic bills, updating personal information, and more. Customers can easily download the NBK Mobile Banking App, which is currently available on various platforms including the Apple App Store, Google Play, and Huawei AppGallery.

Kuwait: NBK’s Executive Management Honors Digital Communications Team for Their Efforts in the “Let’s Be Aware” Campaign

National Bank of Kuwait (NBK)’s executive management honored Digital Communications team in appreciation of their efforts to promote the “Let’s Be Aware” banking awareness campaign, after NBK was named first in promoting the campaign in 2023 by the Central Bank of Kuwait, outperforming all other local banks.

CBK’s recognition demonstrates NBK’s leading role in promoting financial literacy and inclusion and raising awareness among different segments of society, thus enhancing confidence in the Kuwaiti banking sector and economy.

The honoring was presented by Mr. Isam J. Al-Sager, Vice-Chairman and Group CEO of National Bank of Kuwait to Digital Communications team, in a ceremony held at NBK HQ.

Through this recognition, NBK aims to appreciate employees and motivate them to go the extra mile and promote cooperation, as the executive management commended the dedicated efforts and commitment of the “Let’s Be Aware” team, praising their one-team spirit, which is always the main driver of the bank’s successes, and continued leadership, locally and regionally.

Commenting on this recognition, Farah Bastaki, Manager at Digital Communications, said: “Over the past year, NBK has intensified its efforts to promote and develop the content of the “Let’s Be Aware” campaign, by publishing educational material and awareness content related to the campaign across all its social media platforms as well as other digital channels. The bank was able to achieve 15 million views for the campaign’s posts in 2023, and more than 250,000 interactions by customers.”

“NBK implemented monthly social experiments throughout the year at various locations across all areas in Kuwait, targeting a wide range of audience and touching on various topics that helped spread financial culture among different segments, in order to educate them on the latest fraud techniques and required precautions,” she added.

Bastaki mentioned that the activities included field tours at cooperative societies, shopping malls, the American University of Kuwait (AUK), and parking lots, where the bank’s team presented various innovative ideas to promote financial awareness and familiarize the public with fraud techniques and required precautions. This included placing a QR code at a parking lot advertising a free car wash to advise the public to never scan unverified QR codes offering suspicious deals.

The team also approached shoppers and asked them to deposit cash for other people, aiming to highlight that they should never deposit cash for others without verifying their identity. It also warned shoppers against sharing personal banking information with anyone, especially sensitive information such as debit/credit card numbers, PINs or OTPs.

The “Let’s Be Aware” team was also present at cinemas and reached out to customers via SMS and newsletters to educate them on fraud techniques and methods, protection of passwords and banking information. It also warned against using public Wi-Fi whether in cinemas, coffee shops or restaurants, or using these networks in any banking transactions, being unsafe, while emphasizing the necessity to adhere to the campaign’s instructions and bulletins published on all the bank’s channels.

NBK also had multiple radio presences throughout the year representing NBK and KBA. These included guests and experts in anti-fraud techniques and legal consultants giving advice to customers on how to act quickly and effectively should they fall victim to fraud.

Furthermore, the bank organized competitions to educate people on the latest fraud techniques both online on social media and offline in our various events and sponsorships giving away prizes of up to KD 500.

NBK also posted over 60 awareness videos throughout the year on all its digital platforms, which are the most popular among all Kuwaiti banks, to ensure the widest exposure of the campaign. The videos touched on a variety of key topics including (fraudulent apps, e-mail phishing, multifactor authentication, website addresses, investment fraud, online shopping, AI phishing, loans, credit card security, password strength & security, cyber security, fake links & QR codes, and security tips).

As the leading financial institution in Kuwait, the bank frequently organizes various activities to raise people’s awareness on all topics related to the banking sector, as well as many training courses to educate them on combating fraud and financial crime.

It is worth mentioning that NBK is a key promoter and participant in all CBK’s campaigns and initiatives to increase financial and banking awareness among different segments of society. The bank also employs its strong customer communication capabilities as well as all its digital channels, to support the Central Bank’s endeavors to protect customers and the national economy.

Kuwait: NBK Sponsors KALD’s Persevering Student Award Ceremony for School Year 2023/2024

As an official sponsor of the youth activities of the Kuwait Association for Learning Differences (KALD) and a key supporter of many of its events, National Bank of Kuwait (NBK) has sponsored KALD’s Persevering Student Award for school year 2023/2024.

The awarding ceremony was hosted by NBK at its HQ in the presence of Ms. Shaikha Al-Bahar, Deputy Group CEO of NBK, and Mrs. Amaal Al-Sayer, Founder and Chair of KALD, along with a number of executives from NBK and KALD. During the event, the accolades were presented to the winners of the 3rd edition of the Persevering Student Award from the students with specific learning difficulties or ADHD.

Huge potentials

In her speech during the ceremony, Al-Bahar stated, “We, at NBK, are pleased to celebrate a new group of persevering students who won the KALD’s Award for the school year 2023-2024. Our sponsorship of KALD’s activities emanates from our belief in the massive opportunities they provide for children and youth with learning difficulties, by motivating them to unleash their abilities and talents and develop their social skills.”

“Throughout the past years, NBK built strategic partnerships with institutions, and associations whose goals resonate with our social mission, seeking to provide support to different segments of society. Over decades, NBK has created a rich record in supporting and sponsoring social and cultural activities in Kuwait in line with its unwavering commitment to fulfill its responsibilities towards society, especially when it comes to providing the required academic and social support to students. In this context comes our strategic partnership with KALD, which provides care for a group that deserves all our support and encouragement from our children and youth with learning difficulties. Our sponsorship of KALD’s activities aligns with our sustainability strategy, which integrates education as a key factor,” she noted.

“NBK shows unwavering commitment to supporting charities and childcare institutions, and will always standout among the private sector institutions in terms of sponsoring purposeful social programs in the fields of healthcare, childcare, social, environmental, sports and awareness development. It is also a pioneer in introducing large-scale programs and initiatives in many areas, most notably education, healthcare, employment, training, and support of national talent, reflecting its leading role at the forefront of socially responsible institutions in Kuwait.

Integrated Educational Program

On her part, Mrs. Amaal Al-Sayer, the Founder and Chair of KALD, praised NBK’s continuous contributions over the years to supporting KALD’s activities, stressing that this support had a substantial impact in achieving the desired goals of these activities.

“The ceremony marking the 3rd edition of KALD’s Award is a memorable occasion as it gives us the opportunity to extend deepest appreciation to NBK for its support and sponsorship of different activities of KALD’s Integrated Educational Program, which was well-received by schools, teachers as well as parents, with highly engaging activities for students,” she mentioned.

“National Bank of Kuwait is a well-fitting name for such an economic edifice, which, since its founding 72 years ago, has always shown commitment to serving the country and its people,” she emphasized.

“KALD’ Persevering Student Award comes as part of the Social Support under the Integrated Educational Program launched by KALD, which consists of 3 parts including academic, psychological and social support,” Al-Sayer explained.

“We launched this award to encourage students with learning difficulties to persevere and work hard in their studies and promote a culture of excellence among students by honoring the outstanding among them. In addition, it aims to develop positive attitudes towards learning, as teachers who evaluate students focus on tenacity and perseverance, not only on achievement, which aligns with our endeavors to create a motivating and encouraging environment for KALD’s members,” she added.

The Kuwaiti Association for Learning Differences (KALD) is a non-profit organization that collaboratively works towards helping all individuals, especially students in private schools and special education in Kuwait, who have ADHD and Learning Difficulties.

The Association aims to identify and develop the capabilities of these students and to provide them with academic, psychological and social support, through setting up awareness programs, training courses, and recreational activities for the students and their families.

Kuwait: NBK is the First Bank in Kuwait to Join the Partnership for Carbon Accounting Financials (PCAF)

National Bank of Kuwait (NBK) has become the first bank in Kuwait and one of only six banks in the Middle East and North Africa (MENA) region to join the global industry-led partnership, PCAF, for measuring and disclosing the greenhouse gas (GHG) emissions associated with its lending and investment portfolio.

This turning point in the Bank’s sustainability journey reinforces its commitment to responsible banking, aligning with its goal of achieving carbon neutrality by 2060.

The Partnership for Carbon Accounting Financials (PCAF) initiative aims to assist financial institutions in reducing GHG emissions by offering globally harmonized methodologies to measure and disclose greenhouse gases emissions of all asset classes within their loans and investments portfolios. These asset classes include listed equity and corporate bonds, business loans and unlisted equity, project finance, commercial real estate, mortgages, motor vehicle loans, and sovereign debt.

The initiative was globally launched in 2019, with the first bank disclosures on GHG emissions issued in 2018 following its initial launch in Europe in 2015. Currently, the initiative comprises of approximately 480 financial institutions worldwide. These members include commercial banks, development banks, asset owners / managers, insurance companies, and other financial institutions collaborating to mitigate the climate impact associated their financial activities, thereby accelerating the net zero transition. 

Commenting on this milestone, Mr. Amir Hanna, Head of Group Investor Relations and Communications at NBK, said: “We are delighted to join PCAF and contribute to the collective efforts of financial institutions around the world to mitigate the impacts of climate change by promoting the adoption of a consistent framework for measuring financed emissions, which is a critical component for accelerating our efforts towards more sustainable practices."

Hanna added that NBK's participation in the PCAF initiative will facilitate the identification, measurement, and disclosure of the emissions associated with its financing activities in a standardized manner, further enhancing comparison with industry peers. This will contribute to informed decision-making based on consistent and comparable data, providing the Bank’s key stakeholders with transparent and reliable metrics to monitor the Bank’s progress in implementing its ESG strategy.

Hanna emphasized that this initiative would assist the Bank with measuring and disclosing the emissions intensity of its portfolio companies, thereby strengthening the Bank’s efforts in supporting clients' endeavors to transition to a low-carbon economy by actively reducing their carbon footprint. 

Hanna elaborated on the significance of continuously assessing the emissions intensity of the Bank’s lending and investment portfolio, highlighting its integral role in enterprise risk management. He underscored that PCAF would further strengthen the bank's capacity to evaluate and address climate-related risks and opportunities, facilitating its transition to a lower carbon economy.

Hanna also highlighted that NBK has developed a bank-wide manual in line with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), aimed at guiding the bank into addressing the escalating demands for transparency concerning climate-related risks and opportunities. The bank intends to issue its inaugural TCFD report in 2024, reinforcing its commitment to focusing efforts on catalyzing change and implementing lessons learnt from its experience in order to embed net zero and climate risk management across the Group.

He emphasized NBK's pioneering role and significant progress in advancing sustainable finance. The Bank has introduced its comprehensive Sustainable Financing Framework in 2022, making sustainability a fundamental pillar of its business models, operations, and corporate culture. This aligns with the global transition to a sustainable and low-carbon economy and consistent with Kuwait's development plans. NBK aims to grow its portfolio of sustainable assets to approximately US$10 billion by 2030. The Bank has been proactive in capitalizing on the growing trend towards sustainable finance by offering a range of innovative products and services supporting green initiatives across the Group. These include green mortgages, sustainability-linked loans, consumer loans for electric vehicles, and consumer loans for low-emissions housing.

“As the leading financial institution in Kuwait, we aspire to set a benchmark in every endeavor we undertake, particularly in this pivotal domain that will shape the future for generations to come. Our commitment extends to fostering the pillars of sustainable development not only in Kuwait but also across all our markets,” Hanna said. 

He highlighted NBK Group's ESG strategy which adopts a holistic and interrelated four-pillar approach designed to advance sustainable development and promote sustainable finance in the region. Among these pillars, 'Responsible Banking' stands out, defining the bank's commitment to achieving net-zero through its engagement with clients, the diverse range of products and services it offers, as well as its financing choices.

NBK's commits to fully integrating environmental, social, and governance (ESG) standards, not only in its financing activities but across its operations. Over the years, NBK has taken significant strides to support the United Nations Sustainable Development Goals (UN SDGs) by participating in the United Nations Global Compact (UNGC), the largest corporate sustainability initiative in the world for promoting responsible business practices.

Furthermore, for the second consecutive year, the Bank received a score of "C" from the CDP for its Climate Change and Forests 2023 Categories. NBK stands as the only bank in Kuwait to receive a score from CDP, a global non-profit that runs the world’s leading environmental disclosure platform. This ranking positions NBK among the top financial institutions in the GCC, demonstrating its commitment to upholding the highest standards of environmental stewardship. 

Kuwait: "NBK Wealth" Emerges as the Largest Local and Regional Wealth Management Group with AUM Exceeding US$ 20 Billion

National Bank of Kuwait (NBK) held a press conference at its headquarters to unveil the NBK Wealth brand identity. During the event, Mr. Faisal Al-Hamad, Chief Executive Officer, NBK Wealth, presented the strategic vision behind the launch of the NBK Wealth brand, positioning it as the leading wealth management group in the local market and one of the largest in the region.

During the press conference, Al-Hamad emphasized that NBK Wealth, as a new brand, represents a strategic milestone, deriving its strength from the esteemed legacy of NBK Group, a leader in both the regional and global financial landscape.

Al-Hamad emphasized that NBK Wealth represents a significant advancement in distinguishing itself from competitors by offering distinctive services such as asset management, brokerage, lending, deposits, and a range of customized and innovative solutions tailored for high-net-worth individuals and institutional clients. This initiative contributes to strengthening the Group's diversification endeavors.

He explained that NBK Wealth encompasses a comprehensive range of services and products, including, Watani Investment Company, Watani Wealth Management Company (Saudi Arabia), NBK Banque Privée (Suisse), along with National Bank of Kuwait (International) PLC and Watani Financial Brokerage Company (WFBC).

Al-Hamad also pointed out that by the end of 2023, NBK Wealth’s Assets Under Management (AUM) exceeded US$ 20 billion.

"Our brand has strengthened its global footprint with an extensive network of comprehensive operations spanning 9 cities across 5 countries worldwide. Additionally, our valuable partnerships with JP Morgan Asset Management and Intervest further leverage multiple dimensions, including advisory services and the development of new investment solutions”, Al-Hamad said.

“We do not offer pre-packaged solutions. We value the significance of comprehending the unique requirements and financial objectives of each client to craft a tailored wealth management plan. Our core principle is to prioritize clients' needs and build long-lasting, strong relationships with them,” Al Hamad added.

Al-Hamad also expressed NBK Wealth’s commitment to becoming the premier partner for its clients, striving to be the leading and trusted option in wealth management. This is achieved through delivering specialized, comprehensive solutions that generate additional value, foster positive outcomes, and establish a legacy spanning generations for our clients.

He emphasized that NBK Wealth firmly believes in its ability to assist clients in addressing these challenges through implementing robust investment strategies, diversifying their financial portfolios, and offering investment guidance based on thorough analysis of prevailing economic conditions.

When asked about NBK Wealth's plans for the future, Al-Hamad responded, “We recognize the perpetual flux of market dynamics and the ever-evolving nature of client needs. Hence, we emphasize the necessity of adaptability in response to these changes and the provision of innovative investment strategies that align with our clients' objectives”.

In his speech during the press conference, Al-Hamad highlighted the extensive expertise of NBK Wealth’s team, stating, "We provide our clients with numerous unique advantages, ensuring them an unmatched experience. This encompasses personalized services customized to meet their specific needs and financial objectives, delivered by a dedicated team of over 125 investment professionals and traders, in addition to 75 relationship managers."

Kuwait: NBK Executive Management Continues School Visits to Monitor 'Bankee' Program

The Executive Management of National Bank of Kuwait (NBK) continued their school visits across Kuwait to monitor the implementation of the "Bankee" program, which was officially initiated in the current academic year through a partnership with the Ministry of Education, Kuwait Authority for Anti-Corruption "Nazaha," and Creative Confidence Company.

The bank arranged an exclusive visit to Husain AL Asousi School, featuring participation from Mr. Salah Al-Fulaij, CEO of NBK Kuwait accompanied by representatives from Ministry of Education and Nazaha and Sumayah Al-Jasem, Founder, Managing Director at Creative Confidence, as part of the event.

The purpose of the visit was to update attendees on the latest advancements in the "Bankee" program's implementation in schools, aiming to enhance financial literacy and awareness among students across public and private schools.

Al-Fulaij toured several classrooms within the school to observe firsthand how the program has been integrated into the students' daily classroom activities, and to see the manner in which awards are given for exceptional performance and behavior.

Al-Fulaij observed the comprehensive implementation of the Bankee program, including the experience with the virtual bank that enables students to manage a financial account trading in the virtual "Bankoz" currency, and how students are rewarded based on the accumulation of the program's currency in their accounts.

During the visit, there was notable student engagement with the program's features, and parents expressed their delight over the positive shifts in their children's behaviors and financial understanding. Conversations also took place with teachers regarding the program's impact on student development.

Commenting on this visit, Al-Fulaij said, "We, at NBK, take great pride in the significant accomplishments of this key initiative. It serves as a foundational element in fostering financial inclusion and enhancing financial literacy among our students during this pivotal stage of their lives. Its goal is to establish the essential knowledge required for managing their financial affairs in the future."

"It's crucial for our students to understand the significance of saving, budgeting, and prudent spending right from a young age. The sooner they start, the more profound the effect will be,” Al-Fulaij emphasized.

Al-Fulaij further mentioned that NBK is a bank with a strong community orientation, acknowledging the value of financial education for the youth. The bank has initiated efforts to nurture a financial culture within society, driven by the conviction that financial literacy is not only crucial but also contributes significantly to economic enrichment, fostering both growth and development.

Al-Fulaij highlighted the importance of making financial education a priority in schools, as it equips students with sound financial habits that will benefit them for a lifetime. Moreover, he noted that when the younger generation is knowledgeable about managing their finances, it will also positively impact the economy over the long term.

He also emphasized that enhancing financial literacy among children and young people is a long-term endeavor, which might involve offering financial education both within schools and beyond. He pointed out that initiatives aimed at boosting financial literacy are crucial for private sector institutions to support financial inclusion efforts and enhance measures of financial socialization.

Having achieved a remarkable success in its pilot phase, Bankee encouraged more schools and students to join it. Out of 150 applicants, 30 schools have been enrolled in the program so far, in addition to a special needs school for learning difficulties (Joan Al-Kuwait Elementary School), with a total of 15,000 students and  more than 3,000 teachers. 

Bankee also launched its website in Arabic and English, as well as social media pages on Instagram, TikTok and YouTube, to enable all participants to benefit from the provided content, activities and events held at different schools all year round.

NBK has recently been honored with the Bronze Award from Qorus in the Environmental, Social, and Corporate Governance (ESG) category for Bankee Program. This recognition signifies the bank’s commitment to incorporating innovations that integrate sustainability and environmental, social, and governance standards into its activities.

“Bankee” stands as the pioneering program launched by NBK, designed to contribute to financial inclusion within the community. Specifically tailored for students in schools, the program seeks to enhance levels of financial literacy, ensuring sustainable improvement for the future. NBK officially inaugurated the program in October in collaboration with the Ministry of Education and Nazaha.

The program's objective is to familiarize students with fundamental economic concepts and practices, including earning, spending, saving, and financial responsibilities. This is achieved through the implementation of a classroom system that mirrors the real economic environment, employing practical methods within an interactive setting.

Kuwait: NBK Complements Its Ramadan Calendar with Engaging Content on Social Media

National Bank of Kuwait (NBK)’s social media platforms have succeeded in playing a powerful role in increasing interaction of a wide segment of the public in Kuwait with the bank’s distinguished Ramadan calendar aiming to strengthen its relationship with society. The bank utilized its social media accounts to showcase its various activities and volunteering initiatives during Ramadan, as part of its annual philanthropic program, “Do Good Deeds in Ramadan”, embodying its CSR commitment and dedication to deliver its deeply rooted mission of serving the society.

Throughout Ramadan, NBK provided active coverage of the different events, activities and initiatives implemented through the month on all its social media platforms.

Iftar meals, dates and water

These initiatives included providing Iftar meals, dates and water, as volunteers from NBK employees made extensive field trips to distribute thousands of breakfast meals in many areas of Kuwait during Ramadan, in addition to visiting many entities to share breakfast meals with their employees. Like every year, volunteers from different NBK branches distributed dates and water before Iftar time at different areas in Kuwait, to reduce traffic accidents that may occur due to overspeeding to get to their destination by the Iftar time.

Promoting sustainability

Following its annual practice, NBK organized a campaign to promote sustainable practices in collaboration with “Omniya” initiative to collect plastic water bottles from 280 mosques in Kuwait for recycling, thus saving space in landfills. This helps reduce the negative effects of this waste on the environment and health, as the biodegradation of plastic is a slow, long process that may take hundreds of years.

Unique content and duaa videos

During Ramadan, NBK also generated unique content with celebrities and influencers to leverage TikTok and Instagram to reach a larger audience. 

The bank also shared duaa videos in a fast-paced, visually captivating manner designed by Kuwaiti photographer Faisal Al-Karam that resonated well on social media.

Competitions and prizes

During Ramadan, NBK utilized social media engagement to host competitions aimed at boosting follower participation, ultimately increasing engagement and potential customer loyalty during the holy month. 

The total engagement in these competitions exceeded half a million, with cash prizes ranging from KD 50 to KD 250.

Ranking first in promoting banking awareness

Throughout Ramadan, NBK implemented various fraud prevention measures to keep customers’ accounts and money safe, such as raising awareness about common scams and providing tips for online and offline security. 

NBK covered various topics in terms of fraud protection for customers, including secure online banking practices, how to detect phishing emails and scams, the importance of safeguarding personal information, and how to report any suspicious activity. The bank also provided tips on how to keep account information and financial details safe to prevent fraud and identity theft. It also hosted Q&A initiatives to test customer/non-customer knowledge on fraud related situations.

Additionally, recognizing its efforts to promote the “Let’s Be Aware” banking awareness Campaign launched by Central Bank of Kuwait in KBA and local banks, NBK ranked first among all banks in Kuwait, further demonstrating its commitment to ensuring the safety and security of customers’ financial transactions.

Overall, NBK is committed to educating and equipping customers with the necessary tools to stay protected against potential fraud threats, especially in a busy time such as Ramadan.

Innovative interactive presentations

Commenting on the activities and initiatives covered on social media platforms during Ramadan, Abdul-Mohsen Al-Rushaid, AGM, Head of Digital Communications at National Bank of Kuwait said, “NBK always seeks to strengthen its presence on social media during different occasions and seasons all year round by introducing innovative interactive presentations, and covering all events organized by the bank to reach the largest audience.”

“Our social media provide a large platform to interact with customers, including updating them with the latest offers, responding to their inquiries, and fulfilling their needs, while providing them with the latest news and developments related to the bank and its business on a regular basis,” he noted.

It is worth mentioning that by the end of 2023, NBK continued to lead the social media scene among all banks in Kuwait, whether in terms of the number of followers, interaction and engagement across all platforms.

By the end of last year, the total number of followers of NBK’s social media accounts exceeded 2.2 million, whereas it received 3.2 million interactions and increased the number of followers by 160,000 on all platforms including Instagram, X, Facebook, TikTok and YouTube.

Kuwait: NBK Launches “NBK 247 Cashback Visa Platinum Prepaid Card ” with up to 24% Cashback

National Bank of Kuwait (NBK) always seeks to reward its customers and ensure providing them with innovative products serving their needs and enhancing their banking experience. In this context, the bank has launched the new NBK 247 Cashback Visa Platinum Prepaid Card offering customers up to 24% cashback on their daily purchases.

Customers will be able to transfer their daily spends from their debit card to the new prepaid card to get cashback of 24% on streaming services (Payment should be done through the streaming app or website and not through any other service provider), 7% on Food delivery (food delivery applications, it doesn’t include ordering directly from the restaurant), 4% on Bill payments (Telecom bills that are paid through the app or website of the telecom companies or through any of their branches, and not through any service provider), 2% on Grocery, 2% on Hospitals, clinics and pharmacies and 0.7% on Digital payments (made using digital wallets). 

One of the first 1,000 customers to apply for the card will get the opportunity to meet the beloved star Mohamed Salah. Noting that date and place to meet the star will be confirmed later on by the bank.

Customers can apply for the card through NBK Mobile Banking App and once they enroll the card in the digital wallet, they will be able to use the card immediately. Now and for the first time, customers will have the option of using a digital card or choosing to issue a physical card. 

Speaking on the new card, Mr. Mohammed Al-Othman, CEO-Consumer and Digital Banking at National Bank of Kuwait said, “At NBK, we always strive to provide our customers with new products tailored to their needs. As the name suggests, the newly introduced NBK 247 Cashback Visa Platinum Prepaid Card will be customers’ companion 24/7, giving them valuable cashback on their daily purchases.”

“The new card launch comes within NBK’s consistent endeavors to be always closer to its customers and to serve all their banking needs through unmatched products providing the best benefits,” he noted.

“We also wanted to provide customers with the unique opportunity to meet global icon Mohamed Salah who is loved worldwide, being one of the best soccer players of his generation, with unprecedented achievements over the span of his career,” he added.

"We're delighted to partner with NBK to reward their Visa cardholders with innovative products that meet their needs and enhance their payment experience. The launch of the NBK 247 Cashback Visa Platinum Prepaid Card is a prime example of this commitment," said Mohamed Reyad, Visa's Head of Financial Institutions in Kuwait. 

NBK provides an array of prepaid cards which offer numerous benefits, while helping customers spend their money confidently and conveniently, making sure they never go over their budget.

Kuwait: NBK Celebrates the Graduation of the First Wave of “NBK Tech Academy”

National Bank of Kuwait (NBK) celebrated the Graduation of the first wave of “NBK Tech Academy”, the first of its kind Academy in Kuwait focusing on digital and data technologies, 

The graduation ceremony was attended by Ms. Shaikha Al-Bahar, Deputy Group CEO of NBK, Mr. Mohamed Al-Othman, CEO - Consumer and Digital Banking Group, Mr. Mohammad Al-Kharafi, COO - Head of Group Operations and Information Technology, and Mr. Emad Al-Ablani, GM – head of Group Human Resources.

The Academy’s program lasted for 7 months during which 10 participants received intensive training covering technical skills for advancing their careers including, but not limited to: FinTech, Data Analytics, Ethics in Technology, Cyber Security, Fundamentals of Digital Payments, Digital Innovation, Artificial Intelligence, Scripting and Programming, Fundamentals of Codifications, and Finance for Non-Finance Professionals.

In addition to technical skills, the program also focuses on developing soft skills including, but not limited to: Teamwork and Team Building, Business Planning and Business Analysis, Writing Skills, Delivering Results, Meeting Customer Expectation and Customer Centricity, Presentation Skills, Productivity in the Workplace, Business Ethics, Principles and Values, Learning and Researching, Project and Change Management, and Customer Experience.

The participants were split into teams, each assigned an expert coach from NBK, and were challenged to come up with a new idea or enhanced process that would serve the bank, and the winner was selected at the end of the program.

On this occasion, Mr. Emad Al-Ablani, GM – Group Human Resources at National Bank of Kuwait, said: “We are glad to graduate the first wave of NBK Tech Academy, which aims to foster digital talent and enhance expertise in technologies, as we realize the importance of developing the digital community within the bank, being instrumental to strengthen active digital capabilities and promote interaction with content and events aiming to drive continuous innovation.”

“NBK upholds an unwavering commitment to investing in national talent, as we always focus on providing the Kuwaiti youth with the best-in-class and most advanced training programs as per the highest international standards, with the aim of preparing a generation of highly skilled bankers across all fields, especially digital technologies that have become imperative in view of the advancement in banking using cutting-edge technologies and AI,” he added.

“NBK Tech Academy embodies NBK’s vision and keenness to keep up with the accelerating needs of the digital era, and its understanding of the importance of nurturing and developing high-caliber talent in areas like MIS, Information Security, Data Science, and Computer Science,” he noted.

Al-Ablani continued: “Kuwait has a talented and promising generation who possess professional skills and capabilities in technologies and digitization, and NBK is firmly committed to training and qualifying them for the labor market, in preparation for transformations dominated by AI, robotics and data science.”

“NBK seeks to be an active contributor to the development journey of this generation of the Kuwaiti youth and to provide optimal guidance for their capabilities,” he explained.

NBK continues to solidify its leadership in the private sector in terms of attracting, training, upskilling national talent and qualifying them to join the banking sector. The bank also stands out as the employer of choice for national professionals, with the highest Kuwaitization and employee retention ratios across the private sector.

NBK Tech Academy is part of the NBK Academy running for 15 years now, as it was established in 2008, and graduated 28 successful waves who have become active members of the bank’s professional team, having been qualified through the Academy to join the banking sector.

Kuwait: NBK Reports KD 146.6 Million in Net Profits for 1Q2024

National Bank of Kuwait (NBK) has announced its financial results for the three-month period ended 31 March 2024.The Bank reported a net profit of KD 146.6 million (USD 476.8 million), compared to KD 134.2 million (USD 436.6 million) for the corresponding period in 2023, improving by 9.2% year-on-year.

Total assets as of the end of March 2024 grew by 5.1% year-on-year to reach KD 38.3 billion (USD 124.7 billion), whereas total loans and advances increased by 5.7% year-on-year to KD 22.4 billion (USD 72.8 billion), while shareholders’ equity reached KD 3.8 billion (USD 12.3 billion), growing by 7.9% year-on-year.

Commenting on the Bank’s 1Q2024 financial results, Hamad Al-Bahar, NBK Group Chairman, said: “In the first quarter of 2024, we recorded robust profits, showcasing our commitment to delivering long-term sustainable value to our customers, community, and shareholders.”

“As we continue to capitalize on our strategic investments in technology and talent, we remain confident in our ability to achieve further successes in meeting the needs of our customers,” Al-Bahar confirmed.

Al-Bahar emphasized that NBK's ongoing success is built upon solid foundations underpinned by diversification, a key pillar of its strategy. He underscored that strategically diversifying the Bank's portfolio and services across different geographic regions not only mitigates risks but also capitalizes on favorable prospects. This underscores NBK's commitment to adaptability, resilience, and ensuring enduring stability over the long term.

“Kuwait's economy displays resilience and stability, firmly rooted in robust foundations. We expect an uptick in activity within Kuwait's operational scene throughout 2024, resulting in increased project awards and reinforcing trust in the country's business landscape,” Al-Bahar added.

“In spite of the recent escalation in geopolitical tensions in the region, we continue to focus on advancing our operations in the markets we serve while closely monitoring the repercussions on the operating environment in the region,” Al-Bahar explained.

He emphasized that in 2024, NBK maintained its dedication to executing a multitude of impactful initiatives, further solidifying its position as a frontrunner in community development within Kuwait. Simultaneously, these endeavors upheld responsible business practices and played a role in fostering the sustainable advancement of the local economy.

Meanwhile, Mr. Isam J. Al-Sager, NBK Group Vice Chairman and CEO, said: “We have had a strong beginning to 2024, with our business segments maintaining momentum throughout the quarter. This underscores the benefits of our strategic investments and diversified business portfolio.”

Al-Sager highlighted the Bank's robust performance, citing strong revenue and profit growth. He noted that the operational momentum from 2023 carried forward into the current period, resulting in another quarter of strong profits fueled by growth across all business sectors.

“The Group's net operating income increased by 11.2% year-on-year, reaching KD 309.0 million (USD 1.0 billion). This increase was fueled by improved revenues across various business sectors, reflecting the diverse and multiple sources of income within the Group,” Al-Sager added.

Al- Sager stressed that the domestic political environment witnessed some recent instability in the form of changes in parliament and government. This is likely to result in the postponement of the long-awaited investment opportunities in Kuwait. He expressed his hopes of an improved and more stable political landscape going forward; which should positively reflect on the business environment domestically.   

Sustainable Growth

Al-Sager highlighted that NBK’s results underscore the success of its strategy in achieving sustainable growth while also delivering long-term value to its shareholders.

He emphasized that the Bank, buoyed by the robustness of its balance sheet and its diversified business model, achieved business volume growth by prioritizing customer-centric approaches and delivering innovative banking experiences.

“We are seeing considerable momentum in both attracting and developing relationships with our clients.   This is further supported by our strong position in terms of credit quality and capitalization, providing us with a solid foundation. This positions us well to continue advancing throughout 2024. Our growth strategy and diversified business mix highlight our resilience and stability amid a challenging macroeconomic landscape,” Al-Sager noted.

Al-Sager emphasized the importance of prudent risk management, alongside adequate liquidity, and robust capitalization, which enabled the Bank to maintain its support for customers and achieve a strong performance in the quarter. He emphasized that financial prudence, combined with ongoing investment in innovation and development, reflects the Bank's commitment to supporting customers and the community, especially in challenging times.

He underscored that in 2024, NBK will capitalize on its robust position to advance its goal of extending its brand presence across diverse sectors, notably in wealth management. This encompasses the launch of “NBK Wealth”, aimed at pioneering innovative and advanced solutions in private banking, wealth management, financial planning, investment management, and advisory services through a global network of operations.

Al-Sager also emphasized the significant strides the Bank has made in its digital transformation journey, focusing on enhancing the banking experience to meet the actual needs and aspirations of its customers. This has been achieved through the design and implementation of a range of digital services and products.

Regional Leadership

“In the first quarter of the year, NBK’s regional leadership in sustainability was acknowledged, culminating in receiving the Best Bank in the Middle East for ESG-Related Loans Award 2024 by Global Finance. This accolade underscores our dedication to sustainable business practices and strengthens our aspiration to serve as the key partner for our clients in sustainable financing endeavors,” Al-Sager noted.

Al-Sager also stated that NBK has received a score of “C” in the categories of Climate Change and Forests 2023, as announced by CDP, a globally recognized non-profit organization overseeing the leading environmental disclosure, noting that NBK stands out as the sole bank in Kuwait to be rated by CDP, establishing its position among the leading financial institutions in the GCC engaged in the initiative. 

Al-Sager underscored that in 2024, NBK will continue strengthening its position through investing in its people. The Bank will also prioritize offering the best products and services tailored to its customers' needs, expanding its presence in existing markets, and further developing its innovative businesses to better serve its customers and community.

Key financial indicators for 1Q2024

•    Net operating income of KD 309.0 million (USD 1.0 billion), up 11.2% year-on-year

•    Total assets increased by 5.1% year-on-year, at KD 38.3 billion (USD 124.7 billion)

•    Total loans and advances grew by 5.7% year-on-year to KD 22.4 billion (USD 72.8 billion)

•    Customer deposits increased by 9.0% by the end of March 2024 to KD 22.3 billion (USD 72.4 billion)

•    Shareholders’ equity amounted to KD 3.8 billion (USD 12.3 billion), registering an annual growth of 7.9%.

•    Strong asset quality metrics, with NPL/gross loans ratio at 1.51% and an NPL coverage ratio of 248%.

•    Robust Capital Adequacy Ratio of 17.2%, comfortably in excess of regulatory requirements.   

Kuwait: NBK Announces the First Winner of Al Jawhara Grand Prize Worth KD 1 Million for 2024

Amidst festive atmospheres and remarkable audience, National Bank of Kuwait (NBK) held a special event l Friday at the 360 Mall, which extended for more than 3 hours and featured a variety of highly engaging activities, marking the announcement of the first draws of Al Jawhara and Al Jawhara Junior grand prizes for 2024.

The event was attended by a number of NBK executive leaders and officials where the draw, which was conducted in the presence and oversight of a representative of the Ministry of Commerce and Industry, as well as a representative of Deloitte, revealed Al Jawhara Account holder Abdullatif Saad Abdullatif Al Dosary as the lucky winner of the KD 1 million prize, making him the first millionaire in Al Jawhara Account for this year. In addition, Al Jawhara Junior Account holder Fatima Mohammed Abdulwahab Al Zalzalah was announced as the winner of the grand prize worth KD 10,000. The grand prize draws for both Al Jawhara and Al Jawhara Junior Accounts is conducted 3 times a year.

The event of announcing the winners featured many engaging entertainment activities and games for children and adults, in addition to the Gergasha comedy show for children. It also included a number of competitions and draws on valuable prizes for the audience , including complimentary one night stay at the Waldorf with spa & restaurant vouchers, in addition to McLaren driving experience for a full weekend, and a free yacht trip for 6 hours to enjoy wonderful moments with friends and family.

The event also hosted many booths showcasing NBK’s premium offerings for Private and Privilege Banking Customers.

Savings culture and financial inclusion

Commenting on this occasion, Mr. Mohammed Al-Othman, CEO-Consumer and Digital Banking at National Bank of Kuwait said, “Today, we are pleased to celebrate the announcement of the first millionaire in Al Jawhara grand prize draws for this year, as well as the winner of Al Jawhara Junior grand prize. These prizes come within our customer rewarding strategy, while Al Jawhara Account serves as a key tool for promoting a culture of savings and financial inclusion.”

“NBK always seeks to deliver a top-notch banking experience for its customers, integrating the best products and services with a package of exclusive, unmatched benefits and rewards. To this end, the bank has increased the total amount of the Al Jawhara Account prizes to KD 5 million starting this year,” he added.

“Seeking to elevate the benefits and rewards provided to Al Jawhara Account holders, NBK always strives to introduced valuable offerings including Al Jawhara Junior Draws for Al Jawhara Account holders below the age of 21 with 7 winners of monthly draws (KD 1,000 for 3 winners and KD 500 for 4 winners) in addition to 1 winner of KD 10,000 prize with each grand prize draw,” he mentioned.

“Furthermore, NBK provides the new exclusive Al Jawhara Saver Account, offering customers a bonus interest rate up to 1.5% for the first year, in addition to the chance to enter the monthly and grand draws if savings reach KD 5,000 and above. The bank is also offering customers who have been banking with it for more than 2 years double chances in case they were not eligible to earn the existing double chances,” he explained.

NBK has already increased Al Jawhara prizes by more than the double in early 2023, making it the biggest in Kuwait, with KD 20,000 prize weekly, KD 125,000 monthly, and grand prizes worth KD 1,000,000 each, three times a year.

Kuwait: NBK Offers Customers Exclusive Prizes for Paris Olympics, Courtesy of VISA

National Bank of Kuwait (NBK) always seeks to enhance customer banking experience by providing premium exclusive offers and rewards for a comprehensive and exceptional banking experience.  In this context, the bank has announced the launch of “2024 Summer Olympics in Paris” Campaign, giving customers the opportunity to win exclusive packages to attend the 33rd Summer Olympics in Paris scheduled from 26 July to 11 August 2024.

The campaign will run from 1 April to 31 May 2024, and a draw will be conducted on 6 June to announce 9 winners who will attend the Summer Olympics in Paris.

Packages will include business class tickets along with a companion, as well as luxurious hotel accommodation, city experience, and tickets to attend the activities including the opening and closing ceremonies.

To qualify for the campaign, customers need to register using the registration page on nbk.com and spend a minimum of KD 250 per month using the eligible NBK Visa Credit/Prepaid Cards. Each KD 1 spent locally gives customers 1 chance, each KD 1 spent internationally gives customers 2 chances, and if the card is issued during the campaign period, this gives customers 10 chances in the draw.

Eligible cards:

• NBK Visa Platinum Credit Card

• NBK Visa Signature Credit Card

• NBK Visa Infinite Credit Card

• NBK KWT Visa Infinite Credit Card

• NBK Visa Infinite Privilege Credit Card

• NBK-KPC Visa Infinite Credit Card

• NBK-Kuwait Airways (Oasis Club) Visa Signature Credit Card

• NBK-Kuwait Airways (Oasis Club) Visa Infinite Credit Card

• NBK-Kuwait Airways (Oasis Club) Visa Platinum Prepaid Card

• NBK Avios Visa Signature Prepaid Card

Commenting on this offer, Anwar Al Ballam Senior Products Manager, at Consumer Banking Group, at National Bank of Kuwait said: “We seek to be always closer to our customers by participating with them in all events and occasions and providing premium offers and exceptional campaigns to meet their expectations and needs, giving them a comprehensive and exceptional banking experience that suits all segments and ages.”

“The exclusive outstanding offers provided to our customers around the year reflect our endeavors to offer them an integrated banking experience integrated with our cutting-edge, innovative banking products, services and payment solutions,” he added.

“NBK Credit Cardholders get the chance to participate in the bank’s campaigns all year round, in addition to enjoying a unique lifestyle through the various benefits offered by these cards,” he emphasized.

“Our Olympics sponsorship enables Visa to co-create with our bank partners worldwide exclusive experiences for our cardholders. That’s exactly what this partnership with NBK is about - helping make Visa cardholders’ journey to 2024 Summer Olympics in Paris a memorable one. This promotion is also a great way to support the Kuwait government’s ambitions to extend the benefits of digital payments to more local consumers and businesses.  We are delighted to partner with NBK on this exciting promotion and look forward to bringing more of these exciting promotions to Visa cardholders in Kuwait,” said Mohamed Reyad, Visa’s Head of Financial Institutions for Kuwait.

NBK Visa Credit Cards offer the best payment method for the convenience and benefits they provide to customers, especially when using them in shopping including NBK Rewards Program, NBK Miles Program, as well as Purchase Protection and Extended Warranty.

Additionally, NBK Visa Credit Cards provide a unique lifestyle, and eligibility for exceptional campaigns throughout the year, which are always well-received and popular among customers.

Kuwait: NBK Sponsors Specialized Training for Kuwaiti Medical Team Heading to Gaza

Over a period of five days, National Bank of Kuwait (NBK) sponsored and hosted specialized medical training courses conducted by UK-based charity David Nott Foundation, in collaboration with Kuwait Red Crescent Society (KRCS). The courses involved the participation of 37 Kuwaiti doctors and trainees specializing in general surgery and anesthesia. These medical professionals were trained to offer assistance in crisis situations resulting from wars and natural disasters. A selected group will be dispatched to the Gaza Strip to provide medical support to the injured Palestinian population.

At the conclusion of the training courses, Mr. Isam Al-Sager, Vice Chairman and Group CEO of NBK, welcomed the medical personnel. Also present were Dr. Hilal Al-Sayer, Chairman of the Board of Directors of Kuwait Red Crescent Society (KRCS), Palestinian Ambassador to Kuwait Rami Tahboub and representatives from UK-based David Knott Foundation Medical Director Dr Ammar Darwish and representatives from British Embassy Kuwait.

Strategic Partnership

In his speech, Al-Sager extended a warm welcome to the attendees, conveying NBK’s delight in partnering with Kuwait Red Crescent Society and David Nott Foundation. This collaboration underscores the bank's commitment to its strategic partnership with KRCS, aimed at bolstering humanitarian endeavors both within and beyond Kuwait’s boarders.

He elaborated on NBK’s commitment to extending aid to the people in Gaza Strip, aiming to bolster their resilience in the wake of Israeli aggression. The bank's sponsorship of the collaboration between KRCS and David Knott Foundation underscores this commitment. The partnership entails providing training for doctors operating in conflict and disaster zones. The bank hosted these specialized training courses for five days, from April 13 to 17, accommodating doctors and trainees from Kuwaiti medical professionals, specializing in general surgery and anesthesia.

Surgical Procedures

Al-Sager announced that a group of the trained local professionals will be dispatched to Gaza Strip, offering medical assistance to the injured individuals of the Palestinian community. They will conduct vital surgical procedures and administer treatments and medications to those impacted by the continuous Israeli airstrikes on Gaza Strip.

Pride & Gratification

"We, at NBK, are deeply honored to extend our support to KRCS's initiative aimed at performing surgical procedures and delivering essential healthcare services to Gaza Strip. This project, led by specialized medical personnel from Kuwait, is projected to directly benefit approximately 20,000 individuals in Gaza. It addresses the urgent medical and therapeutic needs of the injured and affected, while also prioritizing the critical deficit in the healthcare infrastructure of Gaza Strip. Our collaboration with humanitarian organizations endeavors to prevent the imminent collapse of the healthcare system in Gaza,” Al-Sager commented.

Familiar Territory 

Al-Sager highlighted that NBK’s sponsorship of the collaboration between KRCS and David Knott Foundation isn't the bank's first initiative toward aiding the people of Gaza during their ongoing crisis. He noted that the bank had previously contributed US$5 million in October 2023 to support relief efforts. Additionally, the bank donated mobile medical clinics, fully equipped with medical equipment and devices, through KRCS to support Gaza.

Al-Sager emphasized that the bank, in collaboration with KRCS, remains steadfast in its commitment to providing assistance to those in need, particularly the Palestinian population. This commitment stems from its dedication to humanitarian and social causes, aligning with Kuwait's policy of aiding nations requiring support and championing Arab and Islamic causes, notably the Palestinian cause.

He highlighted that NBK’s initiatives and backing for humanitarian and relief endeavors epitomize its commitment to social responsibility, a principle it diligently upholds not only within Kuwait but also across the Arab world.

Thanks & Appreciation

In conclusion, Al-Sager expressed heartfelt gratitude to KRCS and David Knott Foundation for their dedicated efforts. He also expressed hope that their collaboration would successfully achieve its objectives of alleviating the health impacts on Gaza. He also voiced optimism that such initiatives would help prevent the collapse of the healthcare system in Gaza Strip and mitigate the effects of the humanitarian crisis faced by our brothers and sisters in Palestine.

Leading Organization

Chairman of the Board of Directors of Kuwait Red Crescent Society, Dr. Hilal Al-Sayer, expressed gratitude for NBK’s sponsorship and hosting of the training courses organized by KRCS in collaboration with David Knott Foundation. He remarked, "This exemplifies what we have come to expect from a leading organization like NBK, in extending its generosity to execute humanitarian projects aimed at alleviating the suffering of those in need."

He highlighted that this collaboration is part of the strategic partnership between NBK and KRCS. Through this partnership, the bank extends support to numerous charitable and humanitarian initiatives both domestically and internationally.

Moreover, Al-Sayer expressed his delight in the successful accomplishment of the training courses, fulfilling their intended objective of enhancing the skills of several Kuwaiti surgeons and anesthesiologists to deliver vital medical assistance in regions impacted by conflicts and natural disasters. He highlighted that a portion of these skilled professionals will be dispatched to Gaza Strip to provide essential medical aid to the injured and wounded members of the Palestinian community.

Recipients and Project Initiatives 

He indicated that the project to conduct surgical operations and provide medical treatments in Gaza Strip will directly benefit 20,000 individuals wounded by the Israeli airstrikes, with an indirect impact on all residents living in Gaza Strip. The project spans six months and entails several activities, including conducting a comprehensive field survey to accurately assess needs and identify recipients, with a focus on those most vulnerable to death or complications among the injured. Other activities involve obtaining necessary permits, coordinating with relevant authorities, supplying medical personnel and equipment, conducting essential surgeries, and providing advanced training courses for the medical team by David Knott Foundation, facilitated in collaboration with NBK. Additionally, the project includes ongoing follow-up activities, field assessment, and media records to document its progress.

Al-Sayer concluded his speech by emphasizing that KRCS stands as a national foundation committed to consistently offering humanitarian and relief aid to those in need, demonstrating unwavering dedication to supporting afflicted and affected populations.

Specialized Training 

Meanwhile, Mr. Dr Ammar Darwish from David Nott Foundation expressed his satisfaction in collaborating with KRCS to provide specialized training to a cohort of Kuwaiti general surgeons and anesthesiologists. He extended gratitude to NBK for sponsoring and hosting these specialized training sessions.

Skill Development

He emphasized that David Knott Charitable Foundation remains steadfast in its commitment to supporting and enhancing the skills of medical teams delivering urgent aid to the injured and affected individuals amidst the ongoing events in Gaza. He noted that since 2015, the foundation, specializing in training doctors operating in conflict zones and areas struck by natural disasters, has consistently provided training courses to national teams across various countries. These courses aim to elevate their abilities to deliver essential medical care in regions impacted by wars and calamities.

Kuwait: NBK and LOYAC Sponsor Kids in low Income Families Through ‘Eid Clothing’ Campaign

National Bank of Kuwait (NBK) and LOYAC organized “Eid Clothing” campaign to support children in low income families through purchasing new Eid clothing to celebrate Eid Al-Fitr by dressing up and wearing their new outfits. The campaign covered purchasing new Eid clothing to 30 children in Kuwait.

Each dedicated volunteer was assigned to accompany a child to go shopping. The shopping trip included buying new clothes and shoes for Eid Al-Fitr, so that children would look their best and don’t feel left out of the celebration mood due to the limited resources of their families.

“NBK is so proud of its cooperation with LOYAC. We highly appreciate its role in the community through organizing a wide range of volunteering, developmental, awareness and social initiatives”,Joanne Al AbdulJaleel,NBK Public Relations Manager said. 

“The “Eid Clothing” campaign, launched to support children in low income families, is considered a unique initiative across Kuwait. It extends a helping hand to families in need to bring them the joy of Eid through providing the necessary support to whomever in need, so no one is left out when celebrating Eid holidays” she added.

She highlighted that NBK is always committed to supporting humanitarian initiatives and is proud to lead this campaign with LOYAC. “We look forward to organizing this campaign to complement our community and philanthropic initiatives that share the same objectives of lending helping hands to those in need,” she noted.

Al AbdulJaleel stressed that NBK firmly believes that this social commitment is a fundamental cornerstone of NBK’s objectives as a leading financial institution, expressing his hopes that this campaign had left a positive impact on children and brought them happiness, confirming that NBK’s mission is to bring joy and hope for a better tomorrow. 

The initiative is part of NBK’s commitment to its social responsibility program in Ramadan and expanding its reach to cover more sustainable programs.

NBK continues to reinforce its leading corporate citizen role committed to bringing positive values to the community through its CSR initiatives that adopt a wide range of objectives. 

NBK’s participation in this initiative is part of its partnership with LOYAC through its participation in similar campaigns covering training, developmental, educational and social services programs.

Kuwait: NBK Earns Best Bank for ESG-Related Loans Award

National Bank of Kuwait (NBK) was named the Best Bank in the Middle East for ESG-Related Loans in 2024, as announced by Global Finance in its fourth annual Sustainable Finance Awards.

This annual survey conducted by Global Finance recognizes global and regional leadership in Sustainable Finance-funding for initiatives designed in 2023 to mitigate the negative impacts of climate change and help build a more sustainable future for humanity.

Criteria for evaluation included governance policies and goals as well as measurable achievements in environmental and social sustainability financing.  

Winners have been chosen in areas such as overall sustainability financing, excellence in bond issues, community support, resource management, transparency & reporting, infrastructure, and emerging-markets sustainability funding.

In recent years, NBK Group has undertaken significant measures to embed ESG standards into the core of its business, operational procedures, and corporate culture.

The Group has also streamlined its ESG strategy, transitioning from a six-pillar approach to a more integrated framework consisting of four interconnected pillars: Governance for Resilience, Responsible Banking, Capitalizing on our Capabilities, and Investing in our Communities.

Furthermore, NBK spearheaded initiatives to capitalize on the growing trend towards sustainable financing, launching services and products geared towards the green transition process across all its locations. These include offerings such as green mortgage loans, consumer loans for electric vehicles, financing options related to sustainability, and low-emission housing loans.

Additionally, the Bank has established a target to decrease gross operational emissions by 25% by 2025 compared to the levels recorded in the reference year of 2021. Moreover, NBK’s headquarters achieved the prestigious gold certification in the Leadership in Energy and Environmental Design (LEED Gold) accreditation, underscoring its commitment to environmental sustainability and energy efficiency.

NBK's sustainability endeavors form a crucial component of its overarching strategy aimed at becoming carbon neutral by 2060 and its ambitious goal of achieving net-zero operationally by 2035.

Kuwait: NBK Organizes “Safe Ramadan” Campaign in Collaboration With Kuwait Fire Force

National Bank of Kuwait (NBK) in collaboration with Kuwait Fire Force organizes its Safe Campaign during the summer season. 

NBK volunteers along with the Kuwait Fire Force team visited Kuwait Towers, to provide visitors with safety kits that included a fire blanket, fire alarm, first aid and fire extinguisher to support ensuring that they adhere to regulations for safety. 

“The campaign targeted limiting the fire incidents during Ramadan”, said Yaqoub Al Baqer, NBK Public Relations Senior Manager. “NBK Volunteers and Fire Force team visited Kuwait towers to distribute the safety kits”.

“NBK aims to help keep the environment clean and people safe this Ramadan. The visits aimed to urge people to enhance their security as well as environmental awareness about precautions to be used to prevent accident fires and maintain cleanliness”, he added.

NBK and Kuwait Fire Force Team distributed safety kits and provided visitors with a safety kit ensuring that they adhere to regulations for safety and wellbeing.

Al Baqer praised the Fire force efforts and the influential role they play in raising to avoid accidents during camping. 

Kuwait: NBK Receives Brandon Hall Group Bronze Excellence Award 

National Bank of Kuwait (NBK) received the coveted Brandon Hall Group Bronze Medal for its excellence in the “Best Advance in Compliance Training” in the Learning and Development program, acknowledging its outstanding training and development programs.

The award was presented to Mr. Emad Al-Ablani, GM – head of Group Human Resources by the representative of IQUAD, the leading digital learning solutions provider at NBK HQ.

Brandon Hall Group employed an extensive set of criteria to select the winners of the 2023 Excellence Awards. These criteria were developed based on an assessment of the success of the compliance training in satisfying learning objectives and aligning with the business environment.

They also examined whether the program's design was rooted in a well-defined business goal and effectively supported compliance objectives. Furthermore, they ensured that compliance training positively influenced both organizational goals and learning outcomes and that the program produced quantifiable benefits and outcomes. Finally, these criteria sought to establish if the overall compliance training program positively impacted both learners and the organization.

Brandon Hall Group is a prominent global research organization headquartered in the United States. For over 21 years, the company has been dedicated to recognizing exceptional initiatives and best practices in various areas, including education, leadership development, the promotion of diversity and inclusion, and numerous other aspects related to human resources.

The Brandon Hall Awards for Excellence in Human Resources Management were initiated over two decades ago and remain a pioneering recognition program in education and development. 

These awards consistently draw participation from companies spanning various industries and regions worldwide, including government entities, private businesses, joint ventures, and non-profit organizations. Their enduring prestige and widespread recognition underscore their profound importance and esteemed reputation on the global stage.

The compliance training program stands as a crucial initiative in collaboration with IQUAD, NBK’s digital learning partner, tailored to meet the training requirements of employees and facilitate their comprehension and adherence to the bank's policies and procedures, as well as relevant laws and regulations. The program's training content is engaging, interactive, and extensive, incorporating various teaching approaches such as videos, simulations, and assessments. These methods ensure a more comprehensive understanding and practical application of compliance requirements.

NBK Training and Development Department continually adapts its initiatives by recognizing the evolving requirements of the group's workforce. This includes introducing new educational opportunities to foster an open work culture and cultivating an environment that inspires employees to innovate and unleash their creativity.

NBK is consistently seeking inventive methods to streamline learning and improve its accessibility to benefit employees, all while placing a significant emphasis on the practical implementation of the acquired knowledge. Furthermore, NBK has cultivated exclusive training programs through collaborations with prestigious universities and institutions worldwide over the years. This strategic partnership ensures the delivery of exceptional, top-quality training tailored to meet the diverse needs of employees across various functional levels within the NBK Group.

Kuwait: NBK Provides access to RMs on the Go with Contact Your RM” Feature on MoB

NBK always strives to elevate Privilege Banking services for a standout customer experience, the new service provides customers with seamless interaction with their Relationship Managers. This innovative service puts customers directly in touch with their Dedicated Relationship Manager, offering seamless and personalized banking experience on the go. 

On this occasion, Intekhab Abbas Head -of Premium segment, Consumer Banking Group at National Bank of Kuwait said: “This new service will allow Privilege Package customers easily access their Relationship Manager’s contact information, including Relationship Manager name, phone number, and email address directly within NBK Mobile Banking App, along with ability to call, e-mail and WhatsApp them through the app as well. The NBK Mobile App will also facilitate easy appointment booking with their Relationship Manager. The feature will also allow the customer to conveniently displays their Relationship Manager’s branch location, and working hours, keeping them informed and empowered. This service can be accessed under Premium Banking section specially created in the application”.

NBK offers Privilege Banking Customers an exclusive array of services that has been strengthened to ensure a quality customer experience. These services include: a Dedicated Global Relationship Manager taking care of all their local and global banking needs, as well as a wide range of preferential services and financial products, Premium Services Lounges and Premium Concierge Service. Furthermore, Privilege Customers can avail the advantages of Family Banking Services, Global Banking, NBK Home Banking and Multicurrency cash delivery in Kuwait.

Our Premium Banking Customers also benefit from the Premium Banking Teller Services, priority in making their transactions in a quick and easy way, card home delivery service, priority status when contacting NBK Call Center on 1801801 that’s available 24/7.

In addition to "Know Your Relationship Manager" NBK has recently enhanced Privilege Banking benefits by introducing a new travel experience that redefines the travel experience for our Privilege Customers. Customers can now enjoy exclusive services such as Fast Track check-in, Extra luggage, Seasonal free Limousine ride during travel season, Exclusive Hotel Offers, Free Luggage Delivery, Discounted Umrah Packages, Visa Assistance, and discounts on luggage at Samsonite.

As NBK maintains its dedication to top-notch Privilege Banking services, we continue to innovate and provide customers with unparalleled banking experience.

Kuwait: NBK Shares Gergean Happy Moments with Children at NBK Hospital

On the occasion of the Holy month of Ramadan, National Bank of Kuwait (NBK) held its annual Gergean event at NBK Specialty Hospital and Stem Cell Therapy Unit, at Al Sabah Medical district, to celebrate with the children the happy moments of Gergean and present them with felicitations and gifts.

Mr. Shaikha Al Bahar, NBK Group Deputy Chief Executive Officer, along with NBK Public Relations and NBK Family shared happy moments with children.

NBK has always considered supporting the children an essential part of its social and community outreach. Sharing with these children residing at NBK Hospital major social and religious occasions come as part of an extensive social outreach program specifically mapped out and implemented by NBK.

NBK’s visit to the hospital was emotional and overwhelming for both the children and NBK Team. It is a well rooted tradition that has been carried out by NBK each year in its efforts to continuously have an active role in the Kuwaiti society. 

NBK Children’s Hospital stands as a landmark for the bank's social initiatives towards children. NBK expanded the hospital’s capacity and opened recently the only Stem Cell Therapy Unit for children in Kuwait, further expanding its hospital’s ability to treat children with cancer and blood diseases. Recently, NBK donated KD 13 million to the ministry of health to build a new full equipped medical building to increase the hospital’s capacity. 

Helping and supporting children and their families are integral parts of the Bank's culture and practices that reflect its deep commitment to its corporate social responsibility. 

Since its establishment, NBK has been at the forefront of supporting Kuwait’s community through a range of education, health, sports and social initiatives. The establishment of NBK Children Hospital at Al Sabah Medical Area stands as one of many NBK initiatives for children. 

NBK has undertaken several initiatives to support the healthcare sector in Kuwait, including the establishment of NBK’s Children’s Hospital at Al Sabah Medical Area, which provides medical care to underprivileged children. The hospital houses a number of clinics specialized in leukemia treatments, neurology, psychiatry and pediatrics as well as surgeries and operating theatres.

In line with NBK Children Hospital’s strategy to provide integrated care for patients, the hospital’s management embeds the wellbeing of children and their families as a key part of the treatment programs and healthcare services. To this end, the hospital organizes many various activities to ensure continuous communication with patients and their families, as well as to raise patients’ satisfaction and encourage them to socialize and distract from the pains of treatment.

On Mondays of every week all year round, the hospital holds a fun activity for children treated at NBK’s Specialized Hospital for Children, including inpatients and outpatients visiting the hospital for the necessary medical examinations to follow up on their health conditions.

NBK has also provided an indoor cinema for inpatient children to watch their favorite movies with their siblings.

NBK also organizes ‘I Dream to Be’ program, which is the first of its kind for children in Kuwait hospitals who are facing life-threatening conditions. The initiative helps the children realize their ‘dreams’ in an effort to improve their emotional and psychological wellbeing and help them fight the diseases. Through this program NBK helped many patients realize their dreams over the past years.

The hospital also provides a number of integrated social programs for children and their families as well as the medical staff to ensure an integrated benefit for all. This includes including organizing weekly entertainment activities and the selection of “champion of the week”, in addition to choosing “the nurse of the month”. The hospital also organizes regular activities including “reading corner”, library, reading sessions, visits and entertainment activities. This comes within the endeavors to support and care not only for children during their treatment journey, but also for the attending medical staff.

Kuwait: NBK Distributes Thousands of Iftar Meals at Different Areas in Kuwait

As part of fulfilling its ongoing corporate social responsibilities and on the occasion of the Holy Month of Ramadan, National Bank of Kuwait (NBK)’s Public Relations Team distributed thousands of meals and special convoys to fasters daily at many Areas in Kuwait. This initiative comes within the framework of the ongoing "Do Good Deeds in Ramadan" philanthropic campaign launched by the bank.

Also, NBK distributed dates and water at different intersections and bus stops in Kuwait before iftar time as part of “Do Good Deeds in Ramadan”. The campaign aimed to raise awareness at reducing accidents, speeding and committing traffic violations during the holy month of Ramadan, especially during the run up to iftar at different areas.

The initiative involved a large number of NBK volunteers who distributed small snacks for drivers to break their fasting around Iftar time, at strategic intersections and traffic lights, as well as bus stops.

 “NBK Iftar banquets, an annual NBK philanthropic tradition and a landmark activity within the bank’s corporate social responsibility, acquired much more momentum this year distributing daily thousands of Iftar banquets at many Areas in Kuwait, including Farwaniya, Salmiya, Bneid Al Qar and Jleeb, in addition to hospitals: Amiri, Mubarak and Sabah as well as Kuwait Airport terminals 1 and 2”, said Talal Al Turki, NBK Public Relations Senior Manager.

"The distribution scale and range of NBK Iftar banquets this year also included distributing fast-breaking meals via special convoys to various crowded locations in Kuwait. A large number of NBK staff volunteers was ready to serve the fasters", Al Turki added.

Commenting on dates and water distribution,  “NBK is proud to launch this initiative, which combines giving and sharing spirit in offering snacks to drivers to break their fasting and raising safety awareness to reduce traffic accidents, especially around Iftar time”. He stated.

“NBK is committed to adopting value-added social initiatives, especially those related to the holy month of Ramadan,” he added.

For almost three decades, the Ramadan program comprised a series of activities and initiatives aimed at encouraging community engagement and solidarity in Kuwait. “NBK hopes to encourage a greater sense of responsibility during the holy month”, Al Turki noted.

It is worth mentioning that NBK’s NBK Iftar banquet campaign launched with the commencement of the Holy Month of Ramadan as part of an extensive social program comprising a multitude of philanthropic activities.

Kuwait: NBK’s AGM Approves All Motions Proposed by the Board of Directors

National Bank of Kuwait (NBK) held its Annual General Meeting (AGM) for 2023 on Saturday, March 23, 2024, with a quorum of 71.87%. The AGM approved the Board of Directors’ recommendation to distribute 25% cash dividend to shareholders (25 fils per share) for the second half of the financial year, bringing the total cash dividend distributions for the year to 35%, in addition to the distribution of 5% bonus shares (5 shares for every 100 shares owned).

Consistent Progress

In his speech to the AGM attendees, Mr. Hamad Al-Bahar, NBK Group Chairman, emphasized that the strong financial results achieved by the bank in 2023 highlight its unique business model and strong financial position. This performance reaffirms NBK’s dedication to providing the highest returns for shareholders and promoting sustainable growth.

Al-Bahar highlighted the multitude of successes attained by the bank in 2023, further solidifying its track record of accomplishments and leadership both domestically and internationally. These endeavors were acknowledged with numerous prestigious awards, further affirming NBK’s position of excellence.

"Our sustained achievements stem from our core strategy of diversification, which lies at the foundation of our operations. By strategically expanding our portfolio and services across various geographical locations, we mitigate risks, capitalize on potential opportunities, and reinforce our dedication to adaptability, resilience, and long-term stability."

"We remain committed to making substantial strides in executing our strategic agenda, and we are optimistic that our accomplishments over the past year will serve as a catalyst for enhanced performance in the future." Al-Bahar emphasized. He also underscored NBK's robust balance sheet and stable capital foundation, highlighting their role in meeting the evolving demands of customers and delivering optimal returns for shareholders.

Al-Bahar further stated, "Our endeavors yielded improvements across all key performance indicators compared to the previous year. This underscores the effectiveness and adaptability of our long-standing strategy, solidifying our position as a safe haven for investors, depositors, wealth management clients, individuals, and businesses alike. Moreover, we remain committed to leveraging the potential of digital transformation and sustainability initiatives, while fostering collaboration with communities, corporations, and individuals to foster a brighter and more inclusive future."

Social Responsibility

Al-Bahar highlighted the bank's prominent role in social responsibility over the past year, establishing itself as a leader in Kuwait. The bank contributed over KD 28 million across various sectors including healthcare, childcare, societal initiatives, environmental causes, sports, and education.

Expanding our Footprint

Discussing the bank's prospects for the current year, Al-Bahar remarked, "Regarding our outlook for 2024, our expansion efforts will primarily focus on Kuwait as our core market, with strategic initiatives in the GCC markets. We intend to further strengthen our presence in current markets through strategic investments. Additionally, the bank aims to introduce its proven digital banking solutions in other markets, while enhancing its footprint across MENA region."

Unwavering commitment

Al-Bahar emphasized NBK's unwavering dedication to upholding the highest ethical standards and governance principles. He highlighted the bank's dynamic and proactive governance framework, which fosters transparency, accountability, and ethical conduct across all levels. Al-Bahar noted that the Board of Directors, in collaboration with the dedicated executive management team, prioritizes aligning strategic decisions with the bank's core values to effectively serve the interests of its shareholders.

Historical Earnings

Meanwhile, Mr. Isam J. Al-Sager, NBK Group Vice Chairman and CEO, outlined in his speech that the bank reached its highest annual profit on record in 2023 and maintained strong profit trends. This accomplishment was supported by its diversified business model, strategic investments, and resilience in the face of various economic conditions.

Al-Sager highlighted that despite the challenging operating environment and geopolitical tensions experienced last year, the bank achieved a record profit of KD 560.6 million, marking a year-on-year growth of 10.1%. Additionally, the operating profit surged to KD 1.2 billion, reflecting a substantial increase of 15.6%.

Al-Sager further stated, "Our core segments exhibited strong performance and sustained operational momentum, particularly in our international operations and wealth management divisions. Additionally, Boubyan Bank further supported our competitive edge in the local market as the sole banking group offering both Islamic and conventional banking services in Kuwait."

He explained that the bank maintained consistent dividend rates of 35 fils per share by the end of the year, highlighting the strong financial position of the Group and its commitment to providing shareholders with optimal returns.

He highlighted that as of December 31, 2023, total assets stood at KD 37.7 billion, marking a 3.7% year-on-year increase. He attributed this growth primarily to the expanding volume of the Group's business across diverse sectors and activities.

Al-Sager also indicated that shareholders' equity reached KD 3.7 billion, reflecting a notable annual growth of about 7.3%. Return on average shareholders' equity stood at 15.0%, while return on average assets demonstrated strong rates, reaching 1.53% in 2023. Moreover, customer deposits surged to KD 21.9 billion by year end, marking an 8.8% increase compared to 2022. Concurrently, loans and advances experienced a growth of 6.1%, reaching KD 22.3 billion. Additionally, the capital adequacy ratio surpassed the minimum required levels, reaching 17.3%.

Challenges and Opportunities

Al-Sager remarked that Kuwait encountered challenges akin to those experienced globally in 2023. However, he highlighted several opportunities seized upon during the past year. These included the sustained increase in oil prices, the flexibility observed in consumer spending, accelerated growth in the projects market compared to previous years, positive trends in employment and population growth, advancements in the refining sector, and a less hawkish monetary policy approach. These factors collectively contributed to shaping a favorable economic environment in Kuwait.

He highlighted that the remarkable achievements of the bank in the previous year were attributable to several factors, including leveraging its geographical footprint, advancing the digital transformation initiative, and maintaining a robust financial position. These aspects strengthened revenue streams while maintaining the bank's prudent policies over the years. Consequently, this positively impacted asset quality and boosted capitalization.

Centre of Attention 

Al-Sager emphasized that in 2023, NBK continued its commitment to prioritizing customers by offering innovative digital services and products to support their financial objectives.

Wealth Management

Al-Sager highlighted that in the previous year, NBK Wealth was introduced as a premier destination for pioneering and sophisticated wealth management solutions. It offers an extensive array of comprehensive services in private banking and advanced asset management through a global network spanning 9 cities across 5 countries.

In the domain of digital transformation, Al-Sager emphasized that the bank leads among financial institutions in digital innovation, prioritizing a banking experience tailored to the actual needs and aspirations of its customers. He noted that the bank's unwavering dedication to addressing customer needs has played a pivotal role in reshaping the lifestyles of its customers through a meticulously crafted range of digital services and products.

Sustainability Momentum

Al-Sager elaborated that the bank sustained its progress in sustainability by embarking on a new trajectory for its environmental, social, and corporate governance (ESG) strategy. This involved the adoption of a formal ESG governance framework and the integration of these standards across its services and products. For instance, it introduced green mortgage loans, consumer loans for electric vehicles, financing options related to sustainability, and low-emission housing loans.

“Recently, we have been recognized as the Best Bank in the Middle East for ESG-related loans. Furthermore, we have successfully finalized and approved the ESG framework, clearly defining responsibilities among members of the executive management. We have also established the Sustainability and Climate Change Committee, which operates under the direct oversight of the Board of Directors.

Al-Sager highlighted that NBK has maintained a high score by CDP, distinguishing itself as the sole bank in Kuwait to receive this recognition. Furthermore, NBK ranks among the highest-rated GCC financial institutions engaged in this initiative. Additionally, the bank has committed to reducing total operating emissions by 25% by 2025 and aims to achieve zero emissions operationally by 2035. These initiatives are integral to the bank's overarching plans to attain carbon neutrality by 2060. Consequently, these efforts led to an upgrade in the Bank's MSCI ESG Governance rating to BBB as per the 2023 review.

A Sustainable Future

"Our agile strategy and resilient business model will persist in steering us towards delivering utmost value to our stakeholders, serving as a cornerstone in our journey towards a digital and sustainable future. We remain steadfast in our commitment to sustaining revenue growth through responsible banking practices, strategic investment in our future, innovative products and services, enhancement of our digital capabilities, fostering holistic community development, and playing a significant role in fostering economic growth in Kuwait and beyond." Al-Sager said.

Focus on profitability

"As we navigate the opportunities and challenges of 2024, our dedication to prioritizing profitability, capital resilience, and sustainable growth remains unwavering. However, we recognize the need to closely monitor several challenges, with geopolitical tensions in the region standing out as particularly significant." Al-Sager concluded.

Diverse Mix

On the sidelines of the AGM, Ms. Shaikha K. Al-Bahar, NBK Deputy Group CEO highlighted that NBK has witnessed positive growth trends in the previous year, demonstrating continued success in executing its strategic plans, confirming that the primary sources of profitability in 2023 were centered around core banking operations.

Al-Bahar explained that NBK's performance in 2023 showcased the effectiveness of its diverse business portfolio and prudent risk management practices. She highlighted the substantial strides made in executing its customer-centric strategy, underscoring NBK's sustained momentum across various fronts. This encompassed achieving robust levels of capitalization, maintaining high credit quality, and strengthening customer relationships, all of which led to an expansion in business volume.

She emphasized that these factors were pivotal in driving last year’s strong performance and will play a significant role in generating sustainable value for shareholders in the long term. She also highlighted the bank's ongoing commitment to expanding its business operations while enhancing the quality of its services.

"2023 served as a testament to the resilience of our investment philosophy in driving growth initiatives and the importance of customer-centricity. These factors propelled the ongoing expansion across our diverse business sectors. Throughout the year, we remained committed to investing in the future, enhancing our digital capabilities to improve customer service, and introducing innovative products and solutions aimed at facilitating our customers' banking needs." Al-Bahar said.

Al-Bahar emphasized that the International Banking Group (IBG) maintained robust performance and supported the balance sheet, accounting for 24% of operating income and 23% of the Group's profits. This underscores their significant contribution to the overall performance of the Group.

She highlighted that in 2024, IBG will strengthen the bank's footprint in key regional markets, particularly in Saudi Arabia and the UAE. This will involve targeting Government Related Entities and Top-Tier Corporations. Additionally, strategic expansion efforts will focus on the European Union, particularly in corporate lending, trade finance, Commercial Real Estate, and residential mortgages. The Group also aims to strengthen its footprint in Asia through its regional hub in Singapore while diversifying its Commercial Real Estate portfolio.

Al-Bahar further emphasized that IBG are committed to diversifying the Group's commercial real estate portfolio. Additionally, they aim to integrate ESG standards into credit management processes while promoting digital and technological investments across the business network.

She emphasized that throughout 2023, the bank remained focused on maintaining high asset quality and strong capitalization. Highlighting the significance of the Saudi market, she noted that it is a key priority for the NBK Group due to the numerous emerging opportunities aligning with the bank's strategic goals. Additionally, she highlighted the profitability of the bank's operations in Egypt, which continue to be among the most lucrative within the Group, boasting the highest returns on both shareholders' equity and assets.

Wealth Management

Al-Bahar highlighted that NBK Wealth Group played a significant role in 2023, contributing 10% to operating income and approximately 11% to the Group's profits. She noted that the previous year marked the official announcement of the launch of its brand, solidifying its position as one of the largest regional groups in comprehensive wealth management. The group caters to high-net-worth individuals and corporations, offering tailored financial advisory services aimed at protecting and growing the wealth of its customers, through offering innovative and comprehensive banking and investment solutions.

She further mentioned that NBK Wealth, with approximately US$37.6 billion in personal financial assets by the end of 2023, boasts an elite team comprising over 100 investment experts and brokers with extensive experience in the field.

Revolutionary Change 

Al-Bahar emphasized that the bank has made significant progress in its digital transformation journey by introducing notable updates and enhancements to the NBK Mobile Banking App. These updates represent a revolutionary shift in how customers engage with their everyday banking requirements through a highly efficient and user-friendly interface. This contributes to enhancing and refining the overall customer experience.

The Best Experience

Al-Bahar highlighted that NBK's efforts persist in delivering top-tier banking experiences, operating with the utmost efficiency, and securing a significant market share by offering customers a broader array of options and numerous value-added services. She underscored the bank's consistent commitment to delivering added value for all stakeholders, employing a balanced approach to boost revenues from diverse sources, and enhancing the Group's profitability. This entails maintaining the bank's prominent position in its core business while fostering growth through expansion into sectors beyond its key business activities.

Digital Offerings 

She emphasized that NBK remains dedicated to investing in its digital offerings to furnish customers with a unique and unparalleled banking experience. This commitment encompasses the implementation of cutting-edge financial tools and unique banking services, along with regular updates to the NBK Mobile Banking App, acclaimed as one of the premier banking applications in the sector. Moreover, NBK leverages data analysis and artificial intelligence across many of its services, employing machine learning techniques to deliver a personalized experience that surpasses customer expectations.

Social Initiatives 

Al-Bahar confirmed that the bank's social initiatives persisted throughout the past year, marked notably by the official introduction of the "Bankee" program. This initiative aims to enhance financial inclusion, particularly among school students, fostering sustainable improvement in financial literacy levels within society. In collaboration with the Ministry of Education and Kuwait Authority for Anti-Corruption "Nazaha,", the program engaged 150 schools and over 16,000 students, supported by the participation of 3,000 teachers. Additionally, the program also included a special needs school for learning difficulties. 

She highlighted that the bank's endeavors to support and empower women saw significant recognition with the NBK Rise program receiving the prestigious Best Initiative for Women in Business accolade at the MEED MENA Banking Excellence 2023. This notable achievement reflects the culmination of the bank's dedicated steps towards women's empowerment. Importantly, this effort extends beyond the bank itself to encompass several leading organizations in Kuwait.

Leadership Centre

On the sidelines of the AGM, Mr. Salah Y. Al-Fulaij, Chief Executive Officer – Kuwait remarked that throughout 2023, NBK’s endeavors were marked by initiatives aimed at strengthening its leading position in Kuwait and enhancing customer loyalty.

Al-Fulaij further added that the bank focused on enhancing and refining the NBK Mobile Banking App by incorporating over 30 enhancements to improve both user interface and experience. He highlighted that the App witnessed over 50 million banking transactions in the past year, marking a notable 19% year-on-year growth.

He emphasized that NBK Mobile Banking App is elevating digital offerings to new levels as part of the bank's ongoing endeavors to empower customers through the digital transformation journey. This is particularly evident in the substantial increase in customer satisfaction rates, exceeding 90%, following the recent update of the new App.

The Youth Segment 

Al-Fulaij indicated that in 2023, the bank continued to leverage the valuable offerings provided by Weyay Bank, increasing its market share in the youth segment to over 30%. Additionally, the bank forged a partnership with MasterCard, which now serves as the exclusive provider of bank cards.

He highlighted that NBK extended bank cards to SMEs as part of its commitment to catering to the needs and demands of this segment. Moreover, the bank entered into several partnerships to introduce new services, including exclusive offers for retirees in collaboration with the Public Institution for Social Security.

He emphasized that the bank has broadened its range of robust offerings for customers in the premium services sector through partnerships with top-tier brands, providing this segment with an exclusive lifestyle experience.

“We will persist in implementing customer-centric strategies that foster technological advancements and introduce innovative initiatives to bolster NBK's standing as a reliable financial partner and establish new benchmarks in Kuwait's banking industry,” Al-Fulaij said.

Al-Fulaij underscored that NBK's commitment to delivering exceptional products and services to its customers earned it several accolades throughout the year, notably being recognized as the Best Innovation and Transformation (World) by Global Finance. He emphasized that NBK's significant and strategic investments in its workforce, operational infrastructure, and digital platforms over the years have unequivocally proven their worth and effectiveness.

Maximum Benefit

Al-Fulaij emphasized that NBK's Personal Banking Group capitalized on the momentum of consumer spending and operations by offering exceptional banking services and products. He highlighted the implementation of a strategy that prioritizes customer choice based on individual needs and lifestyle preferences when designing products. Additionally, he emphasized NBK's commitment to maintaining a significant digital advantage over its competitors.

He added that the Corporate Banking Group remains steadfast in achieving its strategic objectives, with a primary focus on maintaining and expanding NBK's leadership and market share as the preferred corporate partner in Kuwait.

He emphasized that the bank plans to continue leveraging new business opportunities with existing customers and attract new ones, thanks to its exceptional service and the strength of its capital base.

Al-Fulaij elaborated that in 2023, the Corporate Banking Group introduced a pioneering set of commercial cards, the first-of-its-kind in Kuwait, aimed at empowering customers to manage their business expenses effectively. Additionally, new services were introduced to streamline the provision of digital and physical documents to corporate clients, fostering the growth of our medium-sized corporate clientele.

“In 2024,   our focus will remain on maintaining prudent credit risk management practices, We will continuously monitor and assess the performance and effectiveness of our interactions with corporate customers, to continually enhance our offerings. Moreover, we are committed to continue our efforts to integrate ESG standards into our assessments of corporate customer credit and creditworthiness, thereby fostering improved governance in business practices,” Al-Fulaij commented.

Renewed Momentum

Al-Fulaij also noted that Kuwait's operating environment in the past year displayed continued signs of recovery, driven by increased consumer spending and improved business activity. Additionally, there was a gradual recovery in spending and project awards, with project activities experiencing their strongest performance since 2017 in terms of the value of contracts awarded. This positive trend is expected to have a favorable impact on private sector lending.

Key Pillar

Al-Fulaij indicated that the exceptional results achieved by the bank in 2023, along with its robust operational and financial performance, owe much to the exceptional human capital, which stands as the cornerstone of the bank's achievements. He highlighted that the Human Resources Group is persistently dedicated to fostering a work environment conducive to enhancing employees' capabilities, encouraging peak performance, fostering innovation, and driving continuous improvement.

Al-Fulaij revealed that in 2023, NBK allocated approximately 179,000 training hours to its employees, with 142,000 hours dedicated to local training initiatives and 36,700 hours for IBG. 

Moreover, the bank initiated numerous academic, motivational, and cultural programs. He emphasized NBK's commitment to providing equal opportunities to all employees, underscoring that this commitment is evident in the bank's workforce composition. Notably, women accounted for approximately 44% of the total workforce, with around 28.8% holding senior management positions. Additionally, Kuwaiti employees constituted about 76.7% of the total workforce by the end of 2023.

He highlighted that the bank's initiatives persist in fostering a workplace culture where individual advancement meets collective achievements. These initiatives entail offering professional development avenues for employees, equipping them to navigate the complexities of the dynamic landscape and the evolving demands of the sector. "Our investments have not only empowered our employees and supported their capability to tackle challenges but have also positioned our organization as a frontrunner in innovation and competitiveness," He emphasized.

"In 2023, the bank's endeavors culminated in receiving five prestigious awards. Among these accolades were three awards from MEED, recognizing our outstanding contributions to women's empowerment initiatives and sustainable development of human resources. Additionally, we were honored with the bronze award from the Society for Human Resource Management (SHRM). The recognition is credited to the NBK RISE program, recognizing the initiative’s excellence in diversity and inclusion. Furthermore, we received the coveted Bronze Medal from Brandon Hall International Group, for our excellence in Best Advance Program in Compliance Training,” Al-Fulaij concluded.
 

Kuwait: NBK Ranks Among the Top-Rated GCC Financial Institutions for Climate Actions by CDP

National Bank of Kuwait (NBK) has received a score of "C" for the second consecutive year in the categories of Climate Change and Forests 2023, as announced by CDP (formerly known as the Carbon Disclosure Project), a globally recognized non-profit organization overseeing the leading environmental disclosure platform.

NBK stands out as the sole bank in Kuwait to be rated by CDP, establishing its position among the leading financial institutions in the GCC engaged in the initiative.

A "C" score from CDP reflects the depth of understanding regarding various aspects such as climate change and forestry. It also indicates an in-depth analysis of how businesses approach important environmental topics, integrating them with their business methodology. This entails a holistic understanding of the outcomes of these practices and their effects on communities and ecosystems. 

This rating aligns with NBK’s roadmap aimed at strengthening transparency regarding the environmental impacts of the bank’s operations and its endeavors to mitigate emissions through CDP. The bank initiated its disclosures in 2021, signaling its commitment to transparency and emissions reduction.

Moreover, this accomplishment underscores NBK’s leading position among the top-performing organizations in sustainable practices, highlighting its dedication to transparency and responsible environmental leadership.

NBK's participation in the CDP strengthens its role in fulfilling the growing demand for environmental transparency set by financial institutions, clients, and regulators.

NBK has consistently provided an annual evaluation of its environmental performance, encompassing metrics such as energy and water consumption, waste management, resource utilization, and greenhouse gas emissions. This information is detailed in the bank's annual sustainability reports, offering transparency regarding its environmental impact and operational carbon footprint.

For the second consecutive year, NBK sustains its robust ratings in the CDP, showcasing our dedication to advancing transparency regarding the environmental impacts of our operations. This commitment aligns with our efforts to facilitate the shift towards a sustainable, low-carbon economy and to contribute to realizing Kuwait's sustainability vision.

NBK has initiated crucial efforts to integrate ESG standards and climate risk considerations into its operational framework, acknowledging their pivotal role in fostering sustainable growth. Furthermore, the bank actively collaborates with its customers to advocate for the adoption of sustainable practices, facilitating effective communication to catalyze collective efforts towards sustainability.

Furthermore, the bank is actively exploring innovative research and development technologies to magnify our reliance on renewable energy and transition all its facilities into eco-friendly structures. Additionally, it seeks to quantify and assess the greenhouse gas emissions linked to its portfolio by aligning with international accounting frameworks and utilizing greenhouse gas assessment tools.

As a leading regional financial institution, the bank consistently seeks diverse approaches to evaluating risks associated with climate change, alongside managing its environmental impact operationally. This encompasses interactions with both customers and suppliers.

NBK's efforts align with its commitment to becoming carbon neutral by 2060, with interim targets to decrease total operational emissions by 25% by 2025. Additionally, the bank aims to grow its portfolio of sustainable assets to approximately US$10 billion by 2030.

It further pledges to play a responsible role in supporting global endeavors to mitigate carbon emissions and address climate change risks by establishing clear, measurable, and accountable objectives. This commitment underscores NBK's determination to integrate climate-related considerations into its future business strategies.

CDP collaborates with over 740 financial institutions worldwide, overseeing assets exceeding US$136 trillion. Its objective is to encourage companies to disclose their environmental impacts, diminish greenhouse gas emissions, conserve water resources, and safeguard forests. In 2023, approximately 24,000 companies submitted their disclosures through this initiative.

Kuwait: NBK Offers Customers Peace of Mind with Eidiya Cash Delivery

National Bank of Kuwait (NBK) always seeks to provide customers with an exceptional banking experience including top-notch products and services that cater to their different needs while ensuring utmost convenience. In this context, the bank is providing Eidiya Cash Delivery service to Private Banking, Privilege, Thahabi and Business Banking Plus Customers at their doorsteps, anywhere in Kuwait.

This service is exclusively waived off for our Private and Privilege Customers in Kuwait during the holy month of Ramadan. It can be availed 24/7 through Q’go Concierge by calling or sending a WhatsApp message to the designated number 1888125.

Eligible customers can request Eidiya Cash Delivery in different denominations including KD 1, KD 5, KD 10 and KD 20. The registration period for this offer is valid from 11 to 26 March, 2024, and delivery period will be form 29 March to 9 April 2024.

Speaking on this, Mohammed Akram Hashim, Head of segments, Consumer Banking Group at National Bank of Kuwait said, “NBK always stands out by to providing customers with utmost convenience for an unmatched banking experience that caters to their needs and even exceeds their expectations.”

“As we are approaching the holy month of Ramadan, we are offering our distinguished segments (Private, Privilege, Thahabi or Business Banking Plus Customers) the luxury of getting Eidiya delivered in cash to their doorsteps all over the areas of Kuwait 24/7 through our partner Q’go Concierge,” he explained. 

“All NBK’s initiatives during national and religious holidays and occasions are meant to serve customers’ needs, which are accurately identified through active communication with them, as NBK always seeks to remain closer to its customers,” he noted.

NBK provides Privilege Banking Customers with an array of services, including: a dedicated Relationship Manager to take care of customer’s banking needs, access to premium lounges, various investment solutions like: SmartWealth and Watani Brokerage, Global Banking & International mortgage, premium teller services giving them priority when making financial transactions and deposits at branches, in addition to card home delivery service. Furthermore, Privilege customers have the priority status when calling the NBK Call Center on 1801801 available 24/7, as well as exclusive Home Banking and Concierge Service.

On the other hand, NBK Business Banking Plus provides services and solutions that help entrepreneurs grow their businesses and achieve their goals. It offers a variety of services including a dedicated experienced Business Banking relationship manager, fee discounts, Premium business concierge, preferential access for teller services, and complimentary Thahabi package to business owners and many other benefits.

Kuwait: NBK Sponsors Rafa Nadal Academy Kuwait Junior Program

As part of its commitment to its social responsibilities and its endeavors to achieve sustainable development, National Bank of Kuwait (NBK) is keen to promote public health and the practice of sports activities. In this context, the bank signed a sponsorship agreement with Rafa Nadal Academy Kuwait (RNAK), the leading sports institution specializing in tennis and fitness, to sponsor 7 players from the junior program at the academy.

The signing ceremony was attended by Mr. Mohammed Mustafa Al Marzouq, CEO of Tamdeen Sports and Mrs. Manal Al Mattar, Head of Corporate Communications at National Bank of Kuwait.

On this occasion, Mr. Mohammed Mustafa Al Marzouq, CEO of Tamdeen Sports said: "We are always pleased to collaborate with a leading institution like National Bank of Kuwait, and as a continuation of this fruitful cooperation, NBK has provided support to the junior tennis team with the aim of nurturing a distinguished generation of athletes and elevating the sport of tennis."

“The Academy’s vision is to lead the way for tennis in the Middle East, and develop a unique, high-end sports facility with the highest level of service and care. Our greatest asset in achieving this is our partners, and we are thrilled that NBK leadership is playing an important role in helping us become the leading tennis Academy in the Middle East and redefine sport, fitness, health and leisure across the region,” he added.

On her part, Al Mattar said: “NBK seeks to establish partnerships with leading institutions in all fields, in a way that contributes to support its community needs and expectations”.

" Our commitment to supporting youth reflects our dedication to empowering the next generation. By investing in sports and education, we aim to cultivate not just tennis skills but also resilience, discipline, and a healthier future for our youth”, she pointed out.

Al Mattar emphasized that NBK encourages people to do sports and follow a healthy lifestyle in line with its leading strategy to achieve sustainability.

"At NBK, we believe in the transformative power of sports, especially for our youth. Partnering with the Rafael Nadal Tennis Academy in Kuwait is not just about tennis; it's about shaping character, fostering teamwork, and instilling lifelong values. Through this sponsorship, we aspire to build a legacy of excellence, where the energy of our youth translates into a brighter, more vibrant future for Kuwait," she added.

Members of the "Rafa Nadal" Academy have access to 15 tennis courts, including both outdoor and indoor courts equipped with the latest international technologies. Additionally, the academy hosts courts for paddle tennis and squash, along with an indoor swimming pool and separate fitness facilities for both women and men.

NBK is deeply committed to social responsibility, recognizing its role in creating a positive impact in society. Through its initiatives, NBK prioritizes youth development, education, health, women's empowerment, and environmental sustainability. NBK strives to be a catalyst for positive change, fostering a brighter future for generations to come.

Kuwait: NBK’s Ramadan Social Program2024: Revitalizing Interactive Initiatives 

National Bank of Kuwait (NBK) revealed its annual ‘Doing Good Deeds’ program during the Holy month of Ramadan. For more than 30 years, the program comprises a series of activities and events aimed at encouraging community engagement and solidarity and charity in Kuwait.

NBK’s Head of Corporate Communications, Manal Al Mattar, said that NBK’s “Do Good Deeds in Ramadan” philanthropic drive, initiated by NBK since more than three decades, is leveraging interactive approaches this year.

The program comprised a series of activities and initiatives aimed at encouraging community engagement and solidarity in Kuwait. “NBK hopes to encourage a greater sense of responsibility during the holy month”, Al Mattar noted. 

NBK Ramadan Social Program 2024 includes distribution of Iftar meals via special convoys that will tour round different areas in the country.

NBK staff volunteers have already finalized all necessary arrangements for Ramadan. NBK staff volunteers will manage and supervise the distribution process and tours arrangements.

Dates and water will be offered to fasters at the iftar time. NBK volunteers from different branches will be distributing the boxes of dates and water to fasters to avoid traffic accidents during iftar.

NBK will be launching a group of fun activities throughout the holy month including 

Dama and tennis Tournaments in addition to organizing Gergean events for children.

NBK and Omniya will collaborate during Ramadan to collect empty plastic bottles in different mosques in Kuwait city.  This initiative will save hundreds of cubic meters in Kuwait’s landfills and save the environment knowing that plastic takes hundred years to degrade in landfills. 

NBK volunteers along with the Kuwait Fire Force team will distribute safety kit that included a fire extinguisher, fire alarm and first aid support ensuring that they adhere to regulations for safety.

Kuwait: NBK Hosts a Series of Knowledge Sharing Sessions with Managers from KNPC and KAFCO 

National Bank of Kuwait (NBK) hosted a series of knowledge sharing sessions with managers from Kuwait National Petroleum Company (KNPC) and Kuwait Aviation Fuelling Company (KAFCO). The aim of these sessions is to share insights and experiences regarding leadership techniques and strategies, in coordination with the Training and Development Department at KNPC.

The sessions held during January and February brought together NBK’s executive leadership and their counterparts from KNPC and KAFCO. The participants engaged in open discussions on a range of topics, including effective communication and motivation strategies, building high-performance teams, empowering employees, stimulating innovation, adaptability to change, and overcoming challenges.

The sessions were joined by 22 managerial participants from KNPC and KAFCO, and included lectures by NBK’s executive leaders: Mr. Mohammed Al-Othman, CEO - Consumer and Digital Banking, Mr. Mohammed Al Kharafi, COO – Head of Group Operations and Information Technology, and Mr. Emad Al-Ablani, GM - Group Human Resources.

Speaking on this, Mr. Emad Al-Ablani, GM – head of Group Human Resources, Group Human Resources at National Bank of Kuwait said, “NBK maintains solid ties with the oil sector, being the ‘bank of choice’ for Kuwait Petroleum Corporation (KPC) and its subsidiaries, in addition to its effective role in developing the human capital in state-owned entities as the strategic banking partner for the government sector.”

“NBK’s strategic partnership with oil sector companies in training and development extends over long decades, and is continuously increasing, in line with our unwavering commitment towards the oil sector and ambition to provide ongoing support to this strategic industry” he added.

“In this context, NBK has launched the NBK-KPC Visa Infinite Credit Card exclusively for the employees of KPC and its subsidiaries, in an effort to enhance their banking experience and promote the cooperation and partnership between the two organizations over several decades,” he mentioned.

“NBK is keen on developing the human capital, especially in state-owned entities, in line with its social and development responsibilities, complementing its year-round initiatives that underline its profound belief in the powerful impact of these programs in serving society and individuals, and echoing its leading role in this field for long decades,” he emphasized.

NBK always seeks to strengthen its leading position as the most socially responsible private sector institution through a wide range of initiatives including training national talent in different government entities, especially the oil sector, which contributes to developing human capital and supporting the Kuwaiti economy.

Kuwait: NBK Brings Employees Together in the Annual “Graish” Event

Following its annual custom at this time every year, with the advent of the holy month of Ramadan, National Bank of Kuwait (NBK) organized its annual “Graish” event for employees last Wednesday evening at Sheikh Jaber Al-Ahmad Cultural Centre (JACC) – National Theatre, in the presence of the bank’s executive management.

The event underscores NBK’s dedication to foster the inherited traditions and values of the Kuwaiti society, and to strengthen relationships among employees from all departments, as well as to show appreciation to their vital contributions in the bank’s ongoing successes.

During the ceremony, which saw a large attendance of more than 1,700 people, the bank’s employees exchanged greetings on the advent of the blessed month of Ramadan, celebrating “Graish”, a Kuwaiti tradition inherited down the ages. The event aimed to strengthen the NBK Family spirit, being a key concept that NBK always seeks to promote among its employees of different departments bank-wide.

Over two hours and a half, the bank took advantage of the annual “Graish” to express its appreciation of the efforts of its employees and to create joyful atmospheres for them through various entertainment activities combined with the captivating live musical performance. The event also featured a number of exciting competitions and raffles, which all gained the admiration of all attendees.

One Family

The ceremony kicked-off with a video highlighting how the employees of one of NBK Branches spend their working hours, and demonstrating the one-family spirit and cooperation among them to provide unmatched service level to customers. This was followed by a brief speech by Mr. Isam Al-Sager, Vice Chairman and Group CEO of National Bank of Kuwait in which he extended greetings to all employees on the advent of Ramadan.

In his speech, Al-Sager mentioned that it is NBK’s regular practice to organize the “Graish” event for employees before the advent of Ramadan every year, in appreciation of their noticeable efforts that greatly contributes to its leading position in the banking sector. He also noted that the opening video clearly represents NBK’s uniqueness and excellence in everything, thanks to its highly professional and dedicated employees and the one-family spirit.

Music and competitions

NBK Graish also featured musical majesty by hosting an exhilarating live performance by a musical band consisting of 50 musicians in addition to the choir led by Maestro Dr. Khaled Nouri, which played the most enchanting national songs and a variety of instrumentals, creating captivating atmospheres in an unforgettable evening. This was made even more impressive as a number of NBK’s employees showcased their talents in playing music and singing along with the band, amidst loud applause from the audience.

NBK also sought to spread the spirit of familiarity and enthusiasm among employees by organizing various competitions during the event, and offered valuable prizes including travel vouchers, electronic devices and cash prizes, amidst thrilling and amusing atmospheres.

Strengthening relationships

Recognizing employees’ efforts and strengthening relationships among them is at the core of NBK’s strategy which aims to promote employee communication and appreciation, in addition to developing teamwork, productivity, and engagement among all departments.

NBK regards employees as the most valuable asset, and an instrumental element to maintaining its success, as the strategic goals of any organization are not attainable without the active participation and dedicated efforts of its employees. Therefore, we also seek to motivate employees and provide them with an ideal work environment that continuously promotes career development, unlocks their potentials and encourages them to go the extra mile, as the one-team spirit demonstrated by employees bank-wide is the main driver of NBK's success and provision of world-class banking service quality.

Graish is a deeply rooted Kuwaiti tradition inherited down the ages. It is a gathering held on the last day of the month of Shaaban to celebrate the advent of Ramadan, during which all family members gather to have their last meal before starting the fasting of Ramadan the next day.

Kuwait: NBK Honors the Outstanding Employees of 2023 in Annual Elite Awards Ceremony

National Bank of Kuwait (NBK) honored the outstanding employees of Consumer Banking Group in its Annual Elite Awards Ceremony, which was held at Sheikh Jaber Al-Ahmad Cultural Centre (JACC) and attended by the executive management. This annual recognition aims to recognize employees’ performance throughout the year and to promote them to maintain excellence and accomplishment in a way that helps bolster NBK’s leading position.

There ceremony was attended by the bank’s executive leaders headed by Mr. Isam Al-Sager, NBK Vice-Chairman and Group CEO, Mrs. Shaikha Al-Bahar, Deputy Group CEO of NBK, Mr. Salah Al-Fulaij, CEO of NBK – Kuwait, Mr. Sulaiman Al-Marzouq, Deputy CEO of NBK- Kuwait, Mr. Mohammed Al-Othman, CEO-Consumer and Digital Banking, and Mr. Emad Al-Ablani, GM - Group Human Resources.

During the ceremony, the executive management distributed certificates of appreciation to the CBG outstanding employees, who showed exceptional performance during the year 2023, in recognition of their efforts in providing top-notch products and services that achieved a high level of customer satisfaction. 

Through this recognition held every year, NBK aims to show appreciation to employees who demonstrated outstanding performance throughout the year and to motivate them to exert more effort to strengthen the bank’s leading position, locally and regionally.

It also shows NBK’s commitment towards its human resources and keenness to provide them with all support, which translates in better performance and contributes to improving the quality of products and services provided to customers.

The ceremony featured various engaging activities, surprises, competitions, and distributing valuable prizes to employees.

Commenting on this, Mr. Mohammed Al-Othman, CEO-Consumer and Digital Banking at National Bank of Kuwait said, “The Elite Awards Ceremony is one of the key events organized by NBK annually to recognize employees for their exceptional efforts and performance during the year. This goes in line with our appreciation of employees’ vital contributions in the bank’s ongoing achievements at all levels.”

“Improving service quality and introducing new products that gain customer satisfaction are the results of the dedicated efforts of our employees. Therefore, we are keen to appreciate their efforts, high performance, and adherence to quality standards and high-level and advanced customer service, which gives NBK the edge over its competitors,” he added.

“Consumer Banking Group team strives to provide top-notch services, in order to maintain the bank’s leadership, and to sustain its excellence in providing market-leading digital banking services in Kuwait,” he noted.

“At NBK, we believe that our employees are our most valuable resource, so we are always keen to invest in human capital by developing and improving the skills of our employees at all levels, which reflects positively on the quality of our products and services,” he emphasized.

Al-Othman stressed that the bank will continue its initiatives seeking to stimulate employees, in line with its belief that sustaining long-term excellence is conditioned by retaining highly qualified and professional employees.

“NBK enjoys a unique work culture and environment that promotes innovation, achieves job satisfaction and development and encourages employees to go the extra mile. It also offers them continuous career development through world-class training programs, in cooperation with globally renowned educational institutions,” he mentioned.

“The achievements seen today are the fruits of successful strategies that fostered our excellence in cutting-edge digital banking services and payment solutions, as well as our tireless efforts to understand customers’ needs and expectations and accordingly tailor innovative banking products and services to meet their needs and even exceed their expectations,” he explained.

At the end of the ceremony, Al -Othman extended thanks and appreciation to all CBG employees praising their efforts and expressing his pride with this highly efficient and dedicated team resembling NBK’s leadership, locally and regionally.

NBK is keen on organizing regular events to honor its employees, within its endeavors to support and encourage their career and professional growth. It also seeks to strengthen the principle of long-term relationships with employees, which stimulates positive behavior and teamwork spirit, and promotes ideal work atmosphere and employee satisfaction.

Over the past year, NBK’s Consumer Banking Group succeeded in developing many top-notch banking products and services that are tailored to customers’ needs. This included revamping NBK Mobile Banking App by introducing more than 30 enhancements to improve both user interface and user experience, for a more customized and personalized experience.

Kuwait: NBK Increases Al Jawhara Account Total Prizes to KD 5 Million, Adds New Benefits

National Bank of Kuwait (NBK) always seems to offer customers a top-notch banking experience integrating top-notch products and services and exclusive, unmatched benefits and rewards. In this context, the bank has increased the total worth of Al Jawhara Account prizes to KD 5 million.

NBK is launching Al Jawhara Junior Draws for customers below the age of 21 with 7 winners with existing monthly draw (KD 1,000 for 3 winners and KD 500 for 4 winners) in addition to 1 winner of KD 10,000 prize with each grand prize draw, making the total worth of Al Jawhara annual draws KD 5 million. Al Jawhara customers below 21 will have the benefit of entering both Al Jawhara Junior Draws and all Al Jawhara current draws.

On the other side, NBK is introducing the exclusive new Al Jawhara Saver Account, offering customers a bonus interest rate up to 1.5% for the first year, in addition to the chance to enter the monthly and grand draws if savings reach KD 5,000 and above. The bank is also offering customers who have been banking with it for more than 2 years double chances in case they were not eligible to earn the existing double chances.

Commenting on this, Mr. Mohammed Al-Othman Chief Executive Officer of Consumer & Digital Banking, at National Bank of Kuwait said: “NBK always seeks to offer customers an array of top-notch products and services, complemented by exceptional rewards and benefits. Al Jawhara Account is an instrumental part of our customer rewarding strategy while serving as a key tool to promote a savings culture and financial inclusion.”

“As we are always keen to boost the benefits and rewards provided to Al Jawhara Customers, we are introducing various enhancements including Al Jawhara Junior Draws offering special prizes for the youth customers, making Al Jawhara total earnings KD 5 million annually. We are also providing the new Al Jawhara Saver Account offering the combined benefits of interest and chances to enter Al Jawhara draws to encourage savings,” he mentioned.

“NBK is committed to providing customers with an impeccable banking experience packed with exceptional rewards all year round. This comprises all segments according to their various expectations, which the bank is keen to learn about by being always in touch with them through multiple digital and other channels,” he noted.

NBK has already increased Al Jawhara prizes by more than the double in early 2023, making it the biggest in Kuwait, with KD 20,000 prize weekly, KD 125,000 monthly, and grand prizes worth KD 1,000,000 each, three times a year.

Kuwait: NBK Celebrates Achievements of Harvard Executive Development Program Graduates

National Bank of Kuwait (NBK) proudly celebrated the graduation of its trainees from the fifteenth edition of the Harvard Business School (HBS) Executive Development Program. This milestone marks a significant achievement as part of the Kafa’a initiative initiated by the Central Bank of Kuwait (CBK) in collaboration with Kuwaiti banks. Managed by the Institute of Banking Studies (KIBS), this initiative aims to develop and improve the skills of national talent.

The bank observed significant participation in this edition, with nine trainees from various departments' directors—a record number among participating banks.

The ceremony took place under the patronage of Mr. Basel A. Al-Haroun, the Governor of the Central Bank of Kuwait and Chairman of the Board of Directors of the Institute of Banking Studies. Representatives from Kuwaiti banks, participating companies from both domestic and international spheres, CBK, KIBS, and the honorees were all in attendance.

This year's Executive Development Program, held in the UAE, was themed "Navigating the Future: Leading Financial Institutions in an Era of Innovation and Transformation. The program aimed to cultivate executive leadership within the banking and financial sectors.

The program centered around two primary pillars: "Financial Markets Strategy" and "Leadership." It emphasized the pivotal role of leadership and management in devising and executing financial, technical, and leadership strategies to address challenges. Moreover, it underscored the importance of acquiring the diverse strategic and leadership skills necessary for navigating digital transformation within the financial sector, enabling participants to stay abreast of rapid developments in the field.

The six-day program featured practical case studies relevant to the program's theme and the banking and financial sectors, as well as other industries for which HBS is renowned. These case studies aimed to offer participants a comprehensive array of practical experiences, enhancing their analytical skills and equipping them with tools and methodologies to enhance performance, foster innovation, and shape institutional culture.

The program alternates its location annually among the GCC countries. This approach is designed to cultivate executive leadership within banks and financial institutions across the region, tailored to meet the evolving needs of the banking and financial sectors amidst the dynamic changes in the business landscape.

Moreover, the program sought to familiarize participants with the implications of the global surge in investments aligning with environmental, social, and governance (ESG) standards, emphasizing their significance for the organization. Additionally, it aimed to educate them on optimizing the utilization of emerging tools like AI, managing risk in a data-driven manner, and promoting successful digital transformation. Additionally, it highlighted emerging opportunities in FinTech.

The program featured interactive plenary sessions, simulations, and real-world case studies led by Harvard Business School faculty. These sessions aim to empower leaders to delve into actionable insights and acquire essential tools for effective leadership. The curriculum also emphasized global attention to environmental sustainability, emerging technologies, and strategies for leading successful digital transformations. Furthermore, it addressed the influence of AI on team dynamics and leadership approaches, emphasizing improved communication, leadership in high-pressure, high-profile situations, and supporting diverse talent collaboration.

Commenting on this event, Mr. Emad Al-Ablani, GM – Head of Group Human Resources at National Bank of Kuwait (NBK) said: “Our engagement in the “Kafa’a” initiative underscores NBK’s commitment to investing in human capital, ensuring the development of skilled national banking leaders in alignment with the latest and highest international standards."

“Creating a flexible, dynamic, and high-performing workforce entails empowering and nurturing future leaders, equipping them with the most effective and up-to-date programs. Hence, we prioritize participation in initiatives and programs that align with the bank’s long-term goals and bolster sustainability efforts in human resources,” Al-Ablani added.

He emphasized NBK’s unwavering commitment to furnishing future leaders with the necessary training programs and capabilities. These initiatives aim to cultivate adaptability, inspire others, and deliver advanced and innovative services, thus solidifying the bank's leadership position at the local level.

Kuwait: NBK Offers Complimentary Limo Ride for Private and Privilege Banking Customers

National Bank of Kuwait (NBK) always seeks to enhance customer banking experience by providing the best exclusive offers and exceptional benefits that suit their different segments. In this context, the bank has announced providing complimentary limo ride for Private and Privilege Banking Customers.

According to the offer valid from 22 February to 2 March 2024, Private and Privilege Banking Customers can avail a complimentary one-time limo ride through Q’go Concierge by calling their designated number 1888125.

This service from NBK is one of the many services provided by “Q’go Concierge” including fast-track check-in, extra luggage allowance, free baggage delivery, hotel offers and Umrah packages, in addition to cash delivery of up to KD 10,000. It also features Messenger Services including renewing and applying for ministry documentation, business special consultation and set-up, airport transportation, limo service, and airport Meet & Assist in Kuwait.

Speaking on this offer, Nora Al-Najjar, Manager, Consumer Banking Group at National Bank of Kuwait said, “At NBK, we always strive to provide our customers with the best benefits and services to enhance their banking experience. We also seek to be always closer to them by providing exceptional offers that offer them more luxury and peace of mind.”

“We are well aware of our customers’ preferences, as we maintain close communication with them through various channels. This goes in line with our keenness to maximize their benefit from the services, special offers and exceptional rewards that we carefully tailor to fit the lifestyles and needs of their different segments and ages,” she added.

It is worth mentioning that over the past years, NBK was able to maintain top-notch Privilege Banking services, and is always striving to offer customers an even more innovative banking experience.

NBK provides Premium Banking Customers with an exclusive array of services, including: a dedicated relationship manager for our Privilege Customers and a Personal Banking Officer for our Thahabi Customers taking care of all customer’s banking needs. It also provides them with access to Premium Banking lounges, diverse investment solutions including: SmartWealth and Watani Brokerage, Family Banking package, Premium Banking Teller Services which grants them priority in making their transactions in a quick and easy way, in addition to card home delivery service, priority status when contacting NBK Call Center on 1801801 available 24/7.

Kuwait: NBK Unveils 'NBK Wealth' for Premium Wealth Management Solutions

National Bank of Kuwait (NBK) revealed the launch of its prestigious “NBK Wealth” brand, positioning itself as a leading global organization and one of the most significant regional groups in comprehensive wealth management.

The brand features a unique visual identity that accurately represents the Group's business orientation and encapsulates the trust, credibility, and success associated with NBK Group, the leading financial institution in the Middle East.

NBK Wealth, set for its official brand launch next April, encompasses a range of services and products under its umbrella. This includes the private banking services of NBK - Kuwait, Watani Investment Company, Watani Wealth Management Company (Saudi Arabia), NBK Banque Privée (Suisse), as well as National Bank of Kuwait (International) PLC and Watani Financial Brokerage Company (WFBC).

NBK Wealth provides an extensive array of comprehensive solutions in private banking services, covering financial planning and wealth management, as well as investment management and advisory services. This is facilitated through a vast global network of integrated operations spanning 9 cities across 5 countries worldwide.

The Group, boasting personal financial assets of approximately US$ 37.6 billion as of the end of 2023, is supported by an elite team of over 100 investment professionals and traders, each with extensive experience in their field.

NBK Wealth stands as a premier destination and a trusted partner for delivering innovative solutions and sophisticated services in asset management. This includes investment management and alternative investments, alongside traditional investments, and trading solutions.

The new brand caters to a sophisticated group of ultra-high-net-worth individuals and institutions with a passion for maintaining and accelerating their financial wellness. It offers financial consulting services aimed at growing and sustaining their wealth through holistic investment and banking solutions.

Within wealth management, NBK Wealth presents a broad spectrum of innovative solutions, backed by an extensive network of investment professionals with specialized knowledge, and a distinguished team of highly skilled asset management experts. The valuable collaborations with JP Morgan Asset Management and Intervest further leverage multiple dimensions, including advisory services and the development of new investment solutions.

Commenting on this news, Mr. Faisal Al-Hamad, CEO - NBK Wealth, stated: “The introduction of the NBK Wealth brand marks a pivotal moment in our dedication to offering unmatched wealth management services and solutions. It underscores our role in assisting our clients as they navigate the path to accumulating significant wealth and creating a lasting legacy that will benefit many generations.”

“At NBK Wealth, our approach is client-centric and comprehensive, aimed at thoroughly understanding our clients' needs to offer solutions that align with their aspirations. Our objectives extend beyond merely generating wealth; we strive to fulfill their requirements and deliver long-term added value from a holistic and integrated standpoint,” Al-Hamad added.

Furthermore, the CEO elaborated that the Group is dedicated to reinforcing its status as the premier and trusted option in wealth management, both regionally and globally, backed by an extensive global network of integrated operations.

"Our motto, “Guiding Your Path Beyond Wealth,' encapsulates our vision for ushering in a new era of wealth management for both high-net-worth individuals and institutions. This vision is realized through holistic investment strategies, leveraging our global presence in key financial and business hubs, and our extensive experience in delivering exceptional service that fulfills all their aspirations," Al-Hamad noted.

NBK Wealth in Numbers

• US$37.6 billion in personal financial assets as of the end of 2023

• More than 100 investment professionals and traders, and 80 relationship managers

• Presence in 5 countries and 9 key financial hubs around the world

• Offers private banking solutions, encompassing financial planning, wealth management, and banking services

• Asset management solutions covering investment management, alternative investments, traditional investments, and trading solutions

Kuwait: NBK Mobile Banking.. The Ultimate Travel Companion

National Bank of Kuwait (NBK) always strives to enrich its digital banking services provided through the NBK Mobile Banking App by introducing new features and enhancements that are meticulously designed to meet customers’ expectations and enable them to manage their accounts, and make more transactions easily and securely, anytime, anywhere, especially during the official holidays and travel seasons.

Managing cards during travel

Customers can manage their debit, credit, and prepaid cards while traveling. They can inform the bank by selecting the cards they would like to use while being abroad.

Report lost/stolen cards

Users can report/lost stolen cards with a click of a button via the App. Once the card has been reported, a replacement card will be issued automatically.

Temporarily block/unblock credit cards

Users have the capability to easily block or unblock their credit cards using the App with just a few simple steps. The service is instant, safe, and available around the clock.

Easier transfers

Transfers are made easier now, as customers don’t need an OTP. Instead, they can authenticate with their password or biometrics (Face ID).

FlexiPay

FlexiPay is available on the App providing eligible NBK Credit Cardholders with the flexibility to make payments for their in-store or online purchases, whether made locally or internationally.

Quick Pay

Customers can use the enhanced service of Quick Pay to send links and receive money, anytime, even during the weekends and official holidays, and choose the preferred method of sharing the link.

Transfer receipt

App users will get a transfer receipt after making transfers. They can also refer to the account statement, go to the transfer transaction, and get the transfer receipt.

Manage registered devices

Users can manage their registered devices on NBK Mobile Banking through the App itself. They can add a device or delete it. For the safety and security of the customer, NBK is keen to limit the number of devices allowed to register for the service.

In addition, the bank has recently released new useful services and enhanced some so the transactions can go through easily including: applying for cards, loans, or increasing credit card limit prior to travel, displaying amount on hold for credit cards and accounts, finding currency exchange rates, in addition to the existing services such as increasing or amending monthly transfer limits, making bill payments, and much more.

Commenting on this, Mohammed AL Dakheel, Head of Mobile Banking, Consumer Banking Group at National Bank of Kuwait said: “Through NBK Mobile Banking App, we provide a full-fledged banking experience aiming to empower customers digitally and provide them with the latest and most advanced banking services.”

“The NBK Mobile Banking App is well deservedly called the “Ultimate Companion” for NBK Customers. It is also considered the bank’s main digital channel, which accounts for the major share of banking transactions with over 600,000 registered users and over 68 million transactions made through the App in 2023,” he added.

“During 2023, we introduced over 50 releases, each included a bundle of new services and enhancements. With the new interface and enhancements, the App has become more user-friendly, smarter, enabling users to make their transactions faster with less screens,” he explained.

Through the NBK Mobile Banking App, NBK aims to offer customers a secure platform to conveniently manage their finances at any given moment. This service facilitates a wide range of banking activities, including opening new accounts, monitoring transactions on accounts and credit cards, accessing accumulated NBK Miles and NBK Rewards Program points, settling credit card dues, making payments for electronic bills, locating the nearest NBK Branches, ATMs, and CDMs across Kuwait, submitting requests for account statements, updating personal information, as well as toll-free numbers to call when they are abroad to reach the bank for any help/inquiry.

Customers can easily download the NBK Mobile Banking App, which is currently available on various platforms including the Apple Store, Google Play Store, and the Huawei App Gallery.

Kuwait: NBK Announces Partnership with Almosafer to Provide Outstanding Travel Offers for Customers

Seeking to enhance customer banking experience with top-notch services and offers according to the lifestyles of their different segments and ages, National Bank of Kuwait (NBK) has announced a new exclusive partnership with Almosafer, to provide NBK KWT Visa Infinite Credit Cardholders with exclusive offers that meet their expectations.

This new partnership will give NBK KWT Visa Infinite Credit Cardholders access to a world of tailored offers that meet their travel needs, including airline tickets and hotel bookings.

Under the partnership, cardholders will get 10% NBK KWT Points when using their KWT Card to pay for airline tickets and hotel bookings at Almosafer stores or via its app or website.

As this offer will continue going forward, cardholders will be able to avail it, as part of KWT Card product benefits.

Commenting on this partnership, Mr. Hisham Al-Nusif Deputy Head, Consumer Banking Group at National Bank of Kuwait said, “We always seek to enhance our customers banking experience, and with the beginning of the new year, we wanted to provide exclusive offers tailored to their needs and expectations. We also work tirelessly and around the clock to keep pace with their changing needs and live up to their growing expectations.”

“NBK maintains solid relationships with leading institutions across different sectors, and we are glad to partner with Almosafer, being one of the most trusted travel agents for customers. We aim to leverage this partnership to enhance customers’ banking experience by delivering top-notch offers, discounts and benefits for an unmatched banking experience” he added.

“Customer satisfaction and top-notch banking experience are embedded in NBK’s culture. Thanks to our extensive experience gained over long decades, we are able to understand customers’ needs, evaluate their goals, and even exceed their expectations,” he noted.

Muzzammil Ahussain, CEO of Almosafer, added; “We are happy to partner with the National Bank of Kuwait, an industry leader in the banking sector in the Gulf region, to offer Almosafer’s exclusive travel deals to the bank’s esteemed customers. Kuwait is a key market for us and by extending our special offers, discounts and benefits we hope to leverage our expertise in the industry and provide tailor-made-travel solutions for NBK KWT Visa Infinite Credit Cardholders. Our digital-first, seamless experience, powered by data driven solutions, will aid Kuwait’s premier national bank to provide their clients with value-added benefits. Together we hope to raise the bar on exceeding client expectations by going one step further to deliver top-notch quality services that is bound to distinguish us from the rest of the market.”

A Card Like No Other

NBK KWT Visa Infinite Credit Card is the most popular credit card in Kuwait, as it offers customers a unique lifestyle with exceptional rewards, benefits and offers tailored to meet customers’ needs and expectations, and cashback up to KD 1,000 in NBK KWT Points every month.

The card combines an exclusive package of exceptional rewards with a design inspiring national pride, making it a card like no other, and gives customers the flexibility to choose the way they want to earn rewards based on their lifestyle; either the “Spends Tier” or “Merchant Category” option.

When choosing the “Merchant Category”, customers can earn NBK KWT Points on all payments made using NBK KWT Visa Infinite Credit Card at the selected categories, with 10% on dining and telecom, 5% on fitness and beauty and 3% on clothing, grocery and education.

Meanwhile, when choosing the “Spends Tier” earning option, based on their monthly spends, with up to 5% on digital payments, up to 5% on international POS and up to 3% on all other spends.

The earned NBK KWT Points can be redeemed through NBK Online or Mobile Banking whether as cashback directly to the card, travel booking at more than 800 airlines and 150,000 hotels, e-vouchers from over 190 merchants, or points exchange with most preferred airlines.

NBK Visa Credit Cards offer the best payment method for the convenience and benefits they provide to customers, especially when using them in shopping including NBK Rewards Program as well as Purchase Protection and Extended Warranty.

Kuwait: NBK Launches Salary Acquisition Campaign With Exceptional Benefits up to KD 5,000

National Bank of Kuwait (NBK) always seeks to enrich customer banking experience by providing top-notch services and exceptional offers through unique campaigns and rewards. In this context, the bank has launched its new salary acquisition campaign for 2024, which gives customers the opportunity to avail benefits up to KD 5,000.

The salary acquisition campaign this year will give customers exceptional benefits with the best packages that offer them the strongest exclusive offers, best cards, most appropriate financing solutions that suit their needs, as well as instant discounts, cashback, and rewards at 900+ outlets, while enjoying access to the largest branch network across Kuwait.

Upon transferring their salary, customers will receive many benefits including cash gifts, the highest cashback, the best suite of credit cards, the best packages to suit all salary levels, weekly free cinema tickets, and weekly coupons from talabat.

Commenting on this campaign, Mr. Mohammed Al-Othman Chief Executive Officer of Consumer & Digital Banking at National Bank of Kuwait said, “We always seek to provide our customers with the best special offers and exceptional benefits that suit their different segments and ages. To this end, we have launched our new salary transfer campaign for this year with unmatched benefits and rewards.”

“Salary transfer allows customers to enjoy NBK’s top-notch banking solutions, including innovative digital services and cutting-edge payment solutions, within a banking experience offering utmost luxury, security and peace of mind,” he added.

“All offers provided in salary transfer campaign this year are tailored to customers’ needs and seasonality, as part of our commitment to always provide the most valuable and relevant offers to our customers,” he emphasized.

“Salary transfer qualifies customers to special benefits including banking and investment solutions, as well as instant discounts and points earned through Kuwait’s largest rewards program, NBK Rewards.” he added.

Customers get various benefits when transferring their salary to NBK including access to the largest branch and ATM network in Kuwait, as well as the broad geographical footprint across key regional and global markets.

Moreover, NBK Customers can enjoy quick and easy banking anytime using the digital channels spearheaded by NBK Mobile Banking, which undergoes frequent enhancements and revamps and is highly popular among customers, and accounts for the major share of banking transactions. 

Kuwait: NBK Supports LOYAC Agricultural Trips to Promote Sustainable Agriculture

National Bank of Kuwait (NBK) and LOYAC concluded four environmental local trips to Sulaibiya and Al Wafra. The four trips go with the UNSDGs goal 15 life on land and in line with NBK’s Strategy focusing on integrating the UN SDGs into its social programs. In addition to an intensive two weeks of internship of daily learning and application in permaculture at different locations in Kuwait.

NBK’s support to LOYAC’s trips comes as part of the bank strategic partnership with the organization.

74 volunteers from different backgrounds ages between 14 and 28  participated in these trips which were designed to introduce regenerative farming principles, explore techniques for maintaining healthy soil; practice cover cropping & mulching techniques; demonstrating composting; introducing crop rotation; creating Swales & learning about keyline designs; in addition to the importance of companion planting.

This support reflects NBK’s commitment to its social responsibility as well as the vital role it plays in supporting students, youths and self-building initiatives in Kuwait.

“Sulaibiya and Al Wafra field trips were truly an inspiring environmental learning experience that added profound value to the young people involved”, said Joanne Al Abduljaleel, NBK Public Relations Manager. “This is not the first-time we go with Loyacers in field trips. We were happy to join Loyacers in lots of inspiring cultural trips around Asia and Africa.  This time , we had the chance to know better our local farms and actively participate in sustainable agriculture and permaculture activities, including planting, maintaining farms and greenhouses, and applying permaculture principles”.

  “NBK always strives to empower Kuwaiti youth to realize their potentials, build their personalities and motivates their ambition. These agricultural trips with LOYAC comes in line with our strategy to invest in our society,” Al Abduljaleel added.

Throughout the program, Loyacers had practical training in agriculture with the aim of achieving advanced skills in the field that will allow the trainee to find job opportunities in existing and expected agricultural initiatives and projects..

LOYAC is a nonprofit organization that runs several programs for the youth to develop their professional skills, enhance their personal growth and help them find their sense of purpose by extending themselves to others. 

Kuwait: NBK Concludes the Fifth Edition of “Tamakan” Training Program

National Bank of Kuwait (NBK) has concluded the Fifth Edition of “Tamakan” training program for Kuwaiti fresh graduates, organized by “Creative Confidence” with the bank’s strategic sponsorship.

The closing ceremony was attended by Mr. Isam Al-Sager, Vice-Chairman and Group CEO of National Bank of Kuwait, Mrs. Shaikha Al-Bahar, Deputy Group CEO of NBK, Mr. Sulaiman Al-Marzouq, Deputy CEO of NBK – Kuwait, Mr. Faisal Al-Hamad Chief Executive Officer - Global Wealth Management, Mr. Mohammed Al-Othman, CEO-Consumer and Digital Banking, Mr. Mohammed Al Kharafi, COO – Head of Group Operations and Information Technology, Mr. Zaid Isam Al-Sager, GM - Deputy Head of International Banking Group, Mr. Emad Al-Ablani, GM - Group Human Resources.

The ceremony held at NBK’s HQ, included a discussion session where the bank’s executive management listened to trainees’ presentations of their outstanding graduation projects, showcasing creative ideas and visions from the ambitious Kuwaiti youth.

Over the course of the program spanning 10 weeks, NBK hosted 34 trainees at different departments where it provided them with courses aimed to upskill, qualify and prepare them to start a successful career.

Tamakan offers an innovative training experience for Kuwaiti fresh graduates who need support to overcome the challenges ahead as they seek to start their career or set up their own business, thanks to developing the required skills, as well as expertise to stand on solid grounds as they navigate their way into the highly challenging labor market.

“Tamakan” aims to develop the personal skills needed to become compelling candidates, in addition to motivating Kuwaiti youth to explore their potentials and energies. It also unleashes the creativity of young talent through workshops about creativity and innovation, design thinking, business model design, career exploration and innovative de-risking solutions.

On their part, the trainees expressed their pleasure with participation in this program and extended thanks to NBK for supporting them and providing its long-standing expertise to develop their skills and qualify them for the labor market in a professional manner, thanks to the bank’s highly professional organizational approach.

The trainees also thanked NBK’s executive management, who participated in open discussions with them where they conveyed their long experience in the banking industry, in addition to providing them with valuable advice to build a successful career. They referred to the significant development achieved and knowledge acquired during the program, which adds value to their upcoming career. They also highlighted they benefited from upskilling on various sides, and regarded “Tamakan” as their gateway from the academic world to career exploration and working life.

NBK strongly believes in the importance of nurturing the Kuwaiti youth by attracting and developing talents and providing all means of support to help them navigate their way into the labor market. It also supports different social initiatives that align to Kuwait National Development Plan (KNDP), and serve the country’s strategic agenda to drive growth, and create job opportunities for the Kuwaiti youth in the private sector, being the country’s most valuable resource and the cornerstone for national development.

It is worth mentioning that “Tamakan” received “The Social Work Pioneer Project Award” from the GCC Council of Ministers of Social Affairs and Labor, recognizing it as an innovative training experience for Kuwaiti fresh graduates to achieve professional self-development in pursuit of emerging as active and efficient workforce.

Kuwait: NBK and Zain Sign MOU with KFAS to Launch a Digital Program for the Kuwaiti Youth

National Bank of Kuwait (NBK) and Mobile Telecommunications Company – Zain Kuwait have signed a Memorandum of Understanding (MOU) with the Kuwait Foundation for the Advancement of Sciences (KFAS), with the goal of initiating a training program designed to develop and empower young national talent. This program aims to provide participants with the essential skills necessary to fulfill labor market demands, particularly in the fields of digital transformation, data knowledge, and artificial intelligence.

The agreement was signed at KFAS’s headquarters, in the presence of Dr. Ameenah Rajab Farhan, KFAS Director General, Mr. Sulaiman Barrak Al-Marzouq, Deputy CEO of National Bank of Kuwait - Kuwait, and Mr. Nawaf Algharabally, Acting CEO of Zain Kuwait. 

The MOU details a cooperative effort to exchange expertise and knowledge for the purpose of advancing and improving digital skills among the youth, equipping them with the essential qualifications needed for the labor market. Furthermore, it encompasses the planning and implementation of educational initiatives, activities, and events specifically targeted at the young participants, in collaboration with the Korea Institute of Science and Technology Information (KISTI).

The agreement involves KFAS, supported by NBK and Zain, forming strategic alliances with global academic and research institutions renowned for their expertise in digital technology capacity building. This collaboration aims to aid in designing and delivering training programs, activities, and events both within Kuwait and internationally.

This unique initiative is designed to engage young individuals in the programs, activities, and events that will be provided to them in a competitive format, ensuring equal opportunities for recent graduates and entry-level professionals.

The training program aims to develop digital skills and capabilities of individuals to use advanced digital tools, including artificial intelligence, cloud computing, coding, big data, robotics, and cybersecurity. This initiative aims to enable participants to effectively leverage and implement these tools in the professional workplace.

The program’s objective is around fundamental concepts, incorporating interactive hands-on activities and project-based learning. It also features mentoring and coaching to support participants throughout their learning journey. The curriculum is multi-modular, offering both in-person and virtual modules, with sessions taking place in Kuwait and South Korea.

During this event, Mr. Sulaiman Barrak Al-Marzouq, Deputy CEO of National Bank of Kuwait - Kuwait, remarked, "We are delighted to formalize this agreement, showcasing the dedication of private sector organizations to their societal obligations in training and preparing our youth for a labor market currently undergoing significant changes and advancements, primarily influenced by artificial intelligence, robotics, and data knowledge".

Al-Marzouq further noted that the main goal of this collaboration is to help close the digital skills gap in Kuwait and to equip Kuwaiti talent with the digital skills and competencies required to thrive in an increasingly technology-dependent world.

Furthermore, Al-Marzouq emphasized NBK’s commitment to actively contribute to the developmental journey of the current generation of Kuwaiti youth through various sponsored initiatives. He highlighted the importance of providing proper guidance to fully harness the energy and capabilities of young Kuwaitis, thereby bolstering sustainable development efforts.

NBK firmly believes that joint private public sector initiatives to provide the young generation with the required knowledge and skills are instrumental to individual as well as social wellbeing and prosperity.

NBK also recognizes the importance of investing in the human capital, and to this end, it has recently launched NBK Tech Academy, the first of its kind academy focusing on digital and data technologies. 

The Academy provides a professional training program to qualify young Kuwaiti talents in areas including FinTech, Data Analytics, Ethics in Technology, Cyber Security, Fundamentals of Digital Payments, Digital Innovation, Artificial Intelligence, Scripting and Programming, Fundamentals of Codifications, and Finance for Non-Finance Professionals.

Mr. Nawaf Algharabally, Acting CEO of Zain Kuwait, commented: “Through this partnership, we will explore collaborative avenues in digital transformation, with a focus on nurturing the tech innovation skills of our youth. Our shared vision is to cultivate digital communities and foster a collaborative ecosystem that fosters innovation and empowers capacity building.”

Algharabally added: “This collaboration aligns seamlessly with our strategic initiatives, bolstered by our existing MoUs with various entities, all aimed at investing in and empowering local talents, particularly within the areas of technology and digital proficiency. Over the years, Zain has proudly trained thousands of ambitious young men and women, reinforcing our commitment to the nation's sustainable growth.

He continued: “At Zain, our strategic vision revolves around creating an empowering environment for our youth, equipping them with the skills necessary to navigate the opportunities presented by today's digital landscape. Technology undeniably underpins people’s personal and professional lives, ushering in a new generation reliant on tech innovation to navigate evolving career pathways.”

Algharabally concluded by saying: “Promoting a digital culture among young people is of paramount importance today, given the pivotal role technology plays in achieving digital transformation objectives. That’s why Zain is steadfast in reinforcing strategic partnerships, recognizing the indispensable role of technologies such as AI, managed cloud services, cloud computing, and digital applications in shaping today’s business landscapes."

This step reflects Zain’s unwavering efforts to support and grow the innovation ecosystem in the local community, and comes as an extension to the MoU signed between Zain and KFAS last October. The agreement saw the two partners join forces to accelerate capacity building, upskill national talents in the private sector, grow research & development in innovation, enable social enterprises, and empower local entrepreneurs.This partnership also goes in line with Zain’s Innovation Nation initiative, under which all of Zain’s innovation and entrepreneurship programs fall, especially within science, technology, engineering, and mathematics (STEM) areas. The initiative mainly targets the youth, and centers around a number of pillars, including entrepreneurship, investment, startup acceleration, supporting inventors, fostering innovation, and more.

Kuwait: NBK Hosts First Annual Meetup for “Tableau” Data Analytics and Visualization Software

Underlining its ongoing commitment to increase employees’ efficiency and qualify them with the most advanced solutions, National Bank of Kuwait (NBK) hosted the First Annual Meetup for Tableau data analytics and visualization software, with the participation of Salesforce, the famous American cloud-based software company and developer of Tableau. 

In the two-day event, Tableau Experts delivered specialized workshops to elevate creators’ skills in the growing community of hundreds of Tableau users, including workshops on advanced visual analytics and design thinking. It also shed light on harnessing the value of data assets using AI-powered analytics and automated workflows.

This training comes in line with NBK’s consistent efforts over the past years to invest heavily in Data Analytics and processing to understand customers’ needs and behaviors. 

Business users of all levels can now answer their own questions and generate insights by automating data preparation and easy-to-use visual analytics dashboards. Business lines were also able to see, in real-time, how other departments have been streamlining their analytics and benefiting from time and cost savings.

Popular tools like tableau are increasingly being adopted across the industry in Kuwait, signifying a shift towards empowering business users to discover data visually.

This event exemplifies the Group Data Office’s commitment to a culture of self-service analytics and enabling domain experts to leverage their knowledge with the help of analytics tools like Tableau.

Speaking on this, Mr. Sudhakar Nibhanupudi, Chief Data Officer at National Bank of Kuwait said: “Hosting this event reflects NBK’s commitment to invest heavily in enhancing collaboration and excellence of its employees, in addition to qualifying talents and competencies with professionally refined skills in Data Analytics.”

“It is the strategy of Group Data Office to enable data-driven decision making by businesses and self-service analytics is an integral part of this strategy,” he added.

“This event aligns with NBK’s commitment to continuously upskill employees with the aim of maintaining an edge in the rapidly evolving technical landscape,” he noted.

NBK pays paramount attention to developing the capabilities of its employees, harnessing all its resources to progress their career by providing training and development programs, in cooperation with globally renowned educational institutions. In addition, NBK consistently supports its employees in building their careers within the bank, reflecting its conviction that continuous developing and upskilling of its employees is instrumental to sustaining its excellence in the rapidly evolving technical landscape in the banking industry.

Kuwait: Al-Ablani: Passion, Perseverance, and Patience Are Keys to a Successful Career

In the program’s sixth panel discussion, “Tamakan” hosted Mr. Emad Al-Ablani, GM – Head of Group Human Resources at National Bank of Kuwait (NBK), who shared his extensive experience gained through a long career, highlighting the key milestones in his journey until assuming this leading position at the largest banking institution in Kuwait.

In a highly engaging open discussion with “Tamakan” trainees, Al-Ablani shared the key challenges he faced throughout his long journey. He also gave them some tips to help them navigate their way towards a thriving career, and the best ways to develop personal skills and capabilities to successfully make their way into the labor market and ensure career development. At the end of the discussion, he answered participants’ questions about various aspects of work inside NBK.

The keys to success

Al-Ablani started his speech by urging “Tamakan” trainees to be patient and work hard to achieve their desired career development, and to cooperate with co-workers, as working in one-team spirit is a key success factor for large institutions, and this is a main characteristic of the work environment in a reputable organization like NBK, as everyone has different qualities and abilities, which makes success a guaranteed result of integration between the members of one team.

“Attaining a leading position in a prestigious institution like NBK requires three basic skills: passion, perseverance and patience, which are the keys to success and moving forward in achieving a thriving and sustainable career and rising to the highest positions,” he mentioned.

 “It takes careful research and sufficient study to make the right decision in choosing your job, whether regarding the sector or even the workplace, as building a career requires ambitious young people who have unwavering desire and passion. Therefore, I always advise the youth to join the private sector because it is more agile and dynamic, and there is more room for innovation, development and creativity,” he added.

The beating heart

In response to a question from one of the participants about the role of GHR, Al-Ablani said, “GHR is the beating heart of NBK’s system through its various arms including Training and Development, Talent Management, and Business Partners. Our mission is to attract and build professional and dynamic human resources at all levels, from new recruits joining the organization until reaching the highest positions, as well as providing an atmosphere that ensures utmost employee well-being.”

“NBK’s strategy is to build an agile and dynamic workforce by focusing on 4 pillars: First: placing the right competencies in the right roles at the right time; Second: preparing future leaders by developing leaders inspiring and driving employees towards innovation; Third: acquisition of high-caliber talent by attracting, retaining and developing qualified employees; Fourth: creating a sustainable performance environment and a culture promoting diversity, inclusion, clear results management principles, and protection of employees,” he explained.

Calculated risk

On a question by one of the participants about choosing the ideal job and work environment, Al-Ablani said, “First, you have to set your goals according to your desires and skills, then work to develop clear plans to implement these goals, but the key factors are passion, perseverance, and patience, and developing the skills to help you achieve your goals.”

Al-Ablani called on the young people to develop and learn by addressing questions all the time and benefiting from the work team and their expertise. Every question is important, and you must get a sufficient answer when you ask so that you have a broad knowledge of your job duties and the function of your department, especially that NBK’s work environment encourages learning and development and always seeks to motivate employees and appreciate their efforts and contributions.

Al-Ablani went on to advise the youth saying, “Always make sure to know the negative comments from your managers, and work to address them to improve your performance, and do not think about moving from one department to another or one job to another just because of some negative comments or poor appraisal. Every employee must calculate the risks in every step he takes, as there is no “zero risk,” but there are calculated and uncalculated risk. So, I advise all employees at the beginning of their career to always talk to their manager and discuss with him their performance and what aspects that can be developed and learned to avoid negative comments and obtain a higher appraisal going forward.”

“NBK’s work environment always encourages discussion and exchange of ideas and opinions. There are also other communication channels that help all employees express their opinions, and the bank listens to their feedback and suggestions, and their satisfaction with the work environment,” he noted.

Don’t fear job interviews

Al-Ablani touched on job interviews saying, “When we conduct job interviews, we always look for young people who are capable of learning, innovating, and communicating, by addressing some questions and evaluating the answers, reactions, and extent of response. The best answers during job interviews are honest ones, even if they do not serve the job applied for, so do not try to beautify or provide incorrect information as this may backfire.”

“At NBK, we believe that attracting, retaining and developing high-caliber talent is instrumental to achieving our long-term ambitions, as well as advance the bank’s efforts to build sustainable human resources, especially that we always seek to attract young talent that have the passion, ambition and desire for continued development and building a thriving career,” he added.

Al-Ablani called on new graduates not to fear job interviews, because fear may be an obstacle to highlighting all your skills during the interview, advising them to be responsive with the interviewer and not just give brief answers. He also called on the interviewers to stay away from personal matters that may embarrass applicants, such as social and political questions, as well as to simplify the interview and not touch on complicated topics to display their experience, as most applicants are fresh graduates who do not have that broad experience, and the tasks of the jobs they are applying for may not require such deep knowledge.

Employee development

Continuing his responses to participants’ questions, Al-Ablani answered a question about employee development: “Once employees join the bank, they receive training courses relevant to each stage of their career, as learning is a deeply rooted culture in NBK that contributes to developing and increasing the efficiency of our human resources, which translates in improving our service quality.”

“NBK training programs do not end at a certain level and are not limited to a specific stage in the career, stressing that all employees in the bank receive training programs to develop their skills, starting from new recruits to leaders, and from day one in the job and continuing throughout their career with the bank. After an employee is promoted and transferred from one job level to another, they receive specific training programs commensurate with the skills required for the new job and qualifying him for the next level until they reach the highest leadership roles in the bank. There is also monitoring to follow up the training and development process to see the results of employee development,” he elaborated.

Al-Ablani mentioned that all the training programs provided by NBK are carefully designed by specialized experts to suit all job levels, noting that “Tamakan” program provides an exceptional opportunity to enhance the skills necessary to navigate the labor market in general, not only working at NBK,” he mentioned.

“NBK is firmly committed to investing in human capital with the support of the executive management, by attracting training and upskilling national talent. We boast an ideal and unique work environment providing exceptional opportunities for continuous career development through high-quality training programs delivered to its employees as well as fresh graduates, which helps them build a sustainable career,” he added.

Golden tips

Al-Ablani shared with the trainees the following important tips to help them navigate their way towards a thriving career:

• Search for the jobs that suit your skills and ambitions

• Always seek to benefit from the expertise of your team members

• Always ask questions and ensure you get adequate answers to develop your expertise

• Work hard and be patient to achieve your desired career development

Kuwait: NBK Named “Best Trade Finance Provider in Kuwait” for 2024

National Bank of Kuwait (NBK) has received the award of “Best Trade Finance Provider in Kuwait” for 2024 in Global Finance’s annual survey. The selections were based on entries from banks and other providers, as well as input from industry analysts, corporate executives and technology experts worldwide.

Global Finance stated that the criteria for choosing the winners included transaction volume, scope of global coverage, customer service, competitive pricing and innovative technologies.

NBK was selected as one of the World’s and MENA’s best trade finance providers in Global Finance’s 24th annual World’s Best Trade Finance Providers in more than 100 countries across 8 regions.

The award was granted to NBK in recognition of its initiatives in developing top-notch banking solutions and high-quality services to meet customers’ expectations.

This prestigious award underscores NBK’s solid position and dominant share in the trade finance market given its participation in the major deals across many vital sectors, thanks to its outstanding customer service and added value provided. This is helped by the bank’s broad regional and international network encompassing branches and subsidiaries across 4 continents.

The award also reflects NBK’s exceptional ability to maintain close and sustainable relationships with its clients, making it well-positioned to participate in major financing deals and strengthening its leadership and dominance, locally and regionally.

NBK has a highly experienced professional team in Trade Finance who work tirelessly to ensure delivering the highest service level to customers.

Global Finance, founded in 1987 and headquartered in New York, is one of the most reputable magazines specialized in finance and economics. It has a circulation of 50,000 readers in 193 countries around the world, including senior corporate and financial officers responsible for making investment and strategic decisions at multinational companies and financial institutions. The magazine conducts various annual surveys about innovation and profitability for banks and financial institutions worldwide, based on which it selects top performers on the regional and international levels.

Kuwait: Al-Bahar: We are Optimistic for More Political Stability, Promoting Business Environment in Kuwait

In an interview with Bloomberg, Ms. Shaikha Al-Bahar, NBK Deputy Group CEO, expressed optimism that a stabilized political environment will improve Kuwait's business landscape.

During the interview, Al-Bahar confirmed that in 2023, NBK consistently maintained strong asset quality and solid capitalization.

Optimism & Positivity 

Al-Bahar expressed confidence in the impact of Kuwait's political landscape on business prospects. She underscored the favorable perspective on the newly appointed government and the transformative policies introduced by the new Prime Minister. Recognized as technocrats committed to a reform agenda, the new cabinet representatives aim to implement strategic changes that will boost the business environment in Kuwait.

“The new cabinet has started to actively engage with the parliament to align on the direction and promote cooperation,” Al-Bahar stated, noting that while the political scene is currently calm, the resumption of sessions and further interaction and execution progress by the newly appointed government are key to gain more confidence in a more optimistic outlook.

“What is important here is to highlight that a stable period of political dialogue can see a lot of these hanging issues get resolved and translate into a more productive legislative calendar,” Al-Bahar added. 

Discussing the projections for 2024, Al-Bahar pointed out that NBK maintains an optimistic and positive outlook regarding the revival of project execution, fostered by a more stable political environment. Such stability is expected to catalyze improvements in the non-oil GDP growth and boost credit demand.

“The strong momentum of projects is expected to continue and feed into the market in 2024, with another KD 6.2 billion worth of awards in the pipeline,” Al-Bahar indicated.

She also pointed out that the projects market rebounded sharply in 2023 with KD +2.5 billion worth of awards: surpassing last year's awards by almost 300%.

“We are hopeful to see some political stability and an improved dialogue between parliament members and the newly appointed cabinet as this will trigger project activity that can revive non-oil GDP activity and demand for credit,” Al-Bahar noted.

Al-Bahar also mentioned that Saudi Arabia is considered a key market that NBK is approaching from all fronts. She also noted that as the operating environment in the kingdom continues to improve, presenting lot of emerging opportunities that align with the bank’s strategic goals.

“We are also expanding under our newly launched Global Wealth Management platform. We have been active in the Saudi market and the NBK franchise is playing an important role in our AUM growth in KSA,” Al-Bahar stated.

2024 Outlook: Navigating the Future

Al-Bahar emphasized that the performance in 2024 may be influenced by an anticipated shift in the Fed’s monetary policy towards a direction that generally does not favor banks, given their business models are designed to thrive in environments of high or rising interest rates. She pointed out that the operational challenge for banks in 2024 will be to defend their margins.

“With our diversification and our growing focus on fee business, we partially hedge revenue from interest rate movements. Our focus will remain on strategy execution and keeping the strength of our balance sheet intact as this is what helps us navigate through different economic cycles,” Al-Bahar explained.

Al-Bahar further elaborated that alongside the core banking's growth momentum, there is an expectation for the ongoing expansion of NBK’s international and wealth management operations, supported by the Group’s presence in key markets, stating that” Our commitment to digital investments will persist in defining our future, with an increased emphasis on incorporating digital services across all business sectors and markets”.

In answering a question regarding provisions in 2023, Al-Bahar explained that the provisions are primarily a precautionary measure, reflecting a historically prudent stance towards managing credit risk.

The challenges facing the Egyptian Pound

When asked about the Egyptian market's condition and the future of the bank's investments there, Al-Bahar stated, "The Group considers Egypt to be a key strategic market for our operations, often referring to it as our 'second domestic market.' She emphasized that NBK has a steadfast presence in Egypt and has no intentions of exiting from this investment, viewing it as a long-term commitment."

“With regards to our operations in Egypt and in domestic currency terms, it remains one of the most profitable in the Group with the highest ROEs and ROAs,” Al-Bahar responded.

“We are looking forward to some easing of geopolitical tensions to allow for some recovery in foreign currency inflows and a reactivation of the government’s asset sales program. Once the confidence is restored in the economy and the currency, we believe there are huge opportunities in Egypt and remain optimistic on its prospects,” Al-Bahar concluded.

Kuwait: Al-Sager: Our Presence in Different Regions is Crucial in Delivering Top-notch Services

The “TAMAKAN" Program organized a panel discussion featuring Mr. Zaid Isam Al-Sager, General Manager - Deputy Head of International Banking Group at National Bank of Kuwait. During this event, Mr. Al-Sager engaged with the participants, outlining the key milestones of his professional journey, and offering advice on how to forge a successful career path. He also participated in an open dialogue, sharing his banking experiences with the attendees.

This event signifies the fifth successive edition of the "TAMAKAN" Program, aimed at training young Kuwaiti graduates. Continuing for its fifth year in a row, the program receives sponsorship and strategic support from National Bank of Kuwait (NBK), with organization by Creative Confidence.

The Professional Journey of Zaid Al-Sager

At the start of his speech, Zaid Al-Sager began by stating, "I pursued finance and earned my degree from Bentley University in Boston, USA. Following my graduation, I joined NBK Capital in 2005. At that time, it was a newly established company with a modest workforce. Over the years, it has grown to become a leading firm in asset management and investment operations within the region. Today, it operates under a new brand, NBK Wealth, offering extensive wealth management services."

Al-Sager continued: “During the 14 years I dedicated to the company, I was able to develop a diversity of technical and financial skills, starting as a junior analyst and progressing to become the head of the Debt Capital Markets unit within the Investment Banking Department, before eventually transitioning to NBK”.

He elaborated that his tenure at NBK Capital endowed him with comprehensive expertise in corporate finance, fixed income, and capital markets. He highlighted his established history of successfully managing both conventional and Islamic debt securities transactions, alongside public offerings, and private placements for a diverse portfolio of local, regional, and multinational clients.

Al-Sager also emphasized to the young audience that mentorship plays a crucial and essential role at the start of one's professional journey. He pointed out that this stage often presents significant challenges for many young individuals. Overcoming these hurdles, he advised, requires persistent inquiry, research, and learning. He encouraged the youth to actively engage with numbers and data, analyzing them to refine their skills and expand their knowledge base. Al-Sager highlighted the importance of utilizing databases and information, noting that they significantly facilitate making informed decisions especially in challenging situations and when making strategic decisions.

"After accumulating experience at NBK Capital for 14 years, I felt a strong urge to seek out a new challenge. I realized that overseeing NBK’s international branches offered the kind of dynamism that matched my passion and ambition. Consequently, I decided to transition to managing NBK’s International Banking Group. I climbed the corporate ladder, and today, I have reached the position of Deputy Head of International Banking Group.

Inspiring Career Path

Al-Sager imparted wisdom to the newly graduated youth, drawing from his own career path. He emphasized that securing a job position or a promotion and achieving a certain rank is merely the beginning. He stressed the importance of continual development to handle the responsibilities and workload that each level entails.

Each job grade, he noted, comes with its own set of duties and challenges, urging the youth to always be prepared and equipped with the requisite skills and experience to fulfill their roles effectively and sustainably.

He encouraged “TAMAKAN” Program participants on the importance of self-improvement, stating: "The best investment you can make is in yourself, through honing your skills, engaging in ongoing learning, and acquiring experience by continuously asking questions and drawing from the expertise and experiences of those around you."

"Do not fear making mistakes and asking questions, as they are one of the learning paths, particularly at the start of your professional journey. Always exercise patience and don't expect to or focus on simply climbing the career ladder without putting in the effort that qualifies you for that advancement. With each step upward in your job level, the responsibilities increase. Therefore, it's essential that you are prepared to shoulder those responsibilities and possess the capability to tackle work challenges and solve problems," he advised.

International Banking Group

In response to a participant's inquiry regarding the operations of the bank's international branches, Al-Sager explained, "The bank's primary focus is on financing projects carried out by institutions, governments, and international companies across various markets."

“NBK provides a diverse array of services and products, including capital markets, short and medium-term loans, corporate financing, trade financing and letter of credits, as well as commercial real estate financing, mortgage and real estate services on an international scale," 

Al-Sager added.

NBK additionally offers real estate financing services that assist customers in purchasing and selling residential and commercial properties across various locations, including the UAE, the UK, USA, and France. The bank additionally facilitates connections for its clients with top professional advisors such as lawyers, real estate appraisers, and accountants. Furthermore, it provides guidance on real estate financing deals and collaborates with international companies specializing in real estate management located in the UK, France, and the USA.

In response to another inquiry regarding employment at IBG, Al-Sager stated, "NBK is consistently committed to recruiting young skilled national talents, and endeavors to nurture them with the latest programs that align with the most recent global standards."

Forging the Future: A Proactive Vision for Excellence

Al-Sager highlighted the significance of international branches to the operations of NBK Group, stating, "Historically, banks in Kuwait concentrated on the local market and the expansion of domestic branches. 

However, shifts in the geopolitical landscape of Kuwait and the surrounding region, coupled with the saturation of the local market, have precipitated a pressing need for income diversification and the generation of new, geographically diversified revenue streams. This led to our strategic expansion and the development of our business activities beyond Kuwait's borders. As a result, we have achieved a regional and international presence, now spanning the MENA region, Europe, America, and Asia."

"NBK has consistently embraced a forward-thinking approach towards international expansion, evidenced by our international branches, some of which have been operational for over 40 years. We offer our services in some of the world's most prominent cities and financial hubs, including New York, Paris, London, China, and Singapore," Al-Sager added.

“Initially, our overseas branches offered basic services, reflecting our primary focus on Kuwait as the central hub of our business operations. However, as time progressed and our ambition for regional and international growth intensified, we have evolved to deliver cutting-edge banking services and sophisticated investment solutions tailored to our customers' demands. NBK - France serves as a pivotal center through which we extend our services to a broad clientele across Europe, including Germany, Italy, and Spain, among others. 

This includes catering to clients from Kuwait and the GCC who conduct business across various European capitals as well as top-tier European clientele and corporations,” Al-Sager explained.

“We remain committed to actively engaging and broadening our financing operations with major corporations and leading institutions on a global scale,” Al-Sager confirmed.

"Five years ago, the assets of our international branches accounted for 27% of the Group’s total assets. This figure has since increased to approximately 40%. Looking ahead, we aim to further elevate the proportion of our foreign branches' assets relative to the Group's total assets over the next five years," Al-Sager stated.

Al-Sager concluded by emphasizing that NBK is tirelessly striving to maintain its leading position in the local market while developing its regional presence through an overseas expansion strategy. This approach aims to diversify income sources, accelerate growth, and generate maximum added value for shareholders and stakeholders alike.

Kuwait: NBK Launches a Series of Short Ads to Promote Financial Culture among School Students

As part of its ongoing efforts to enhance the reach and impact of the “Bankee” program, National Bank of Kuwait (NBK) has launched a series of short ads on financial literacy and positive behaviors, with the aim of spreading awareness, promoting financial culture, and instilling moral values in the students of private and public schools in Kuwait.

“Bankee” is the first program of its kind in Kuwait, which was officially launched last October by NBK, in collaboration with the Ministry of Education and Kuwait Anti-Corruption Authority (Nazaha), with a view to promote financial inclusion, especially among school students, to elevate sustainable financial culture among all members of society in the future.

Commenting on this, Asmaa Bin Hussain, Public Relations Officer at National Bank of Kuwait, said, “The program aims to familiarize students with key financial concepts including earning, spending, and saving, and financial responsibilities, through the classroom economy model, which simulates a real-world economy in a practical and interactive manner.”

“The series of ads includes short video clips to familiarize students with “Bankee” content and objectives, encourage them to adopt positive behaviors in early educational stage, and instill basic values, like self-development, responsibility, and teamwork spirit. This reflects NBK’s dedication to raising a generation of young Kuwaitis who understand the importance of financial stability and independence and possess the required financial skills and knowledge to contribute to achieving sustainable development and economic welfare for individuals and society,” she explained.

“The video clips focus on many positive values that help raise a new generation on the right foundations, such as integrity, honesty, saving, differentiating between desires and needs, cooperation, cooperation, and kindness,” she added.

Within Bankee activities, NBK’s executive management organizes frequent visits to government and private schools to follow up on the latest updates on the implementation on the program, in cooperation with the Ministry of Education, Nazaha and Creative Confidence.

These visits see large attendance of the parents of participating students who express their pleasure with the significant improvements in their children’s financial behavior and knowledge, as the program has become part of their daily life in the classroom.

Bankee’s remarkable success encouraged more schools and students to join it, with 150 schools applying to join, and a total of 15,000 students and 3,000 teachers enrolled in it.

Seeking to enhance the content, Bankee’s website was launched in Arabic and English, as well as social media pages on Instagram, TikTok and YouTube, to enable all participants to benefit from the provided content, activities and events held at different schools all year round.

Bankee is designed based on the classroom economy model, which simulates a real-world economy within the classroom. This is done in an innovative and interactive way enabling students and teachers to leverage an online tool to make different financial transactions using “Bankoz”, the program’s digital currency.

The program gives students the chance to apply for classroom-specific or school-wide jobs, which offer them an opportunity to earn additional income or salary. Classroom jobs are tailored to each classroom and encompass roles such as attendance monitor or teacher's assistant. On the other hand, school jobs involve participating in extracurricular activities at the school level, such as joining the student council. The program also instills responsibility and accountability in the student through incorporating financial expenses as an integral part of the program. Students are required to manage their finances by making payments for classroom-related expenses, such as renting desks and paying utility bills such as water and electricity.

Among the central components of Bankee is the Bankee Store, where students can engage in real-life simulated transactions using the virtual currency, Bankoz. It serves as a practical and interactive platform within the classroom economy, allowing students to experience the process of buying tangible and intangible items, thereby enhancing their financial literacy and decision-making skills.  The store also offers a wide variety of items and services that are relevant and appealing to students, such as school supplies, toys, stationery, and school privileges.

NBK firmly believes that joint private public sector initiatives to provide the young generation with the required knowledge and skills are instrumental to individual as well as social wellbeing and prosperity.

It is worth mentioning that NBK recently received the Bronze Award for its “Bankee” program in the Social, Sustainable & Responsible Banking category, which recognizes the innovations made by institutions to integrate ESG standards into their operations. 

Kuwait: NBK Reports KD 560.6 Million in Net Profits for Financial year 2023

National Bank of Kuwait (NBK) released its full year 2023 financial results for the twelve months period ended December 31, 2023. The Group recorded a net profit of KD 560.6 million (USD 1.8 billion), up 10.1% year-on-year from KD 509.1 million (USD 1.7 billion) in 2022.

As of the end of December 2023, total assets grew by 3.7% year-on-year to reach KD 37.7 billion (USD 122.8 billion), whereas customer deposits surged by 8.8% to reach KD 21.9 billion (USD 71.6 billion). Meanwhile, total loans and advances stood at KD 22.3 billion (USD 72.6 billion), up by 6.1% year-on-year, while attributable shareholders’ equity reached KD 3.7 billion (USD 12.0 billion), growing by 7.3% year-on-year.

 In terms of distributions, the Board of Directors proposed a cash dividend distribution of 25 fils per share for the second half of 2023, bringing the total cash dividends for the year to 35 fils; a payout ratio of 50% of profits attributable. The Board of Directors also proposed the distribution of 5% bonus shares. The proposed distributions are subject to approval by the Annual General Assembly, which is scheduled for March 2024.

Earnings per share (EPS) stood at 68 fils per share for the year 2023, compared to 61 fils in 2022.

Mr. Hamad Al-Bahar, Group Chairman commented on the financial results: “In 2023, NBK achieved robust financial results, showcasing the adaptability of our business model and affirming our consistent progress toward delivering enduring long-term value to our customers, shareholders, and communities”.

“We persist in making substantial strides in executing our strategic agenda, and we are confident that the initiatives undertaken in the past year will serve as a catalyst for even stronger performance in the future,” Al-Bahar continued.

He also emphasized that NBK has a robust balance sheet and a stable capital base, providing support for meeting the expanding needs of its customers while simultaneously striving to achieve optimal returns for its shareholders.

Al-Bahar expressed optimism that the operational environment in Kuwait will gain momentum in the upcoming period, particularly following the attainment of political stability. This positive outlook is further bolstered by the appointment of new prime minister and government, placing a priority in its agenda on addressing economic challenges and fostering efforts to restore confidence in the business climate.

“Throughout the past year, NBK solidified its pioneering position as a leading contributor to social responsibility in Kuwait; affirmed through contributions exceeding KD 28 million across various sectors, including health, care for children and society, environmental initiatives, sports and education,” Al-Bahar stated.

Al-Bahar emphasized that sustainability has become a pivotal driver to enhance the Bank's long-term growth opportunities. He highlighted that NBK continues to undertake numerous significant initiatives supporting responsible business practices, contributing to the sustainable development of Kuwait’s economy. The latest of these initiatives was becoming a signatory of the United Nations Global Compact; recognized as the largest sustainability initiative for responsible business practices.

Meanwhile, Mr. Isam J. Al-Sager, Vice Chairman and Group CEO, said: “In 2023, we delivered a robust performance, experiencing growth in both revenues and profits. The favorable operational performance persisted across our business, as we continued to leverage the advantages of our diverse business portfolio and strategic investments in talent and technology”.

Al-Sager underscored that NBK’s primary business sectors demonstrated strong performance throughout the year, registering increased momentum in the operational performance across key areas including international operations and wealth management. These key segments are witnessing substantial expansion in alignment with the Group's strategic plans to grow in main markets and enhance its offerings in investment and wealth management services.

"The Group's net operating income surged by 15.6% annually, reaching KD 1.2 billion, driven by the growth of net interest income and fees and commissions." Al-Sager added.

He further explained that the growth in profitability aligns with the strength of NBK’s financial position. The expansion of the loan portfolio, total assets in general, and customer deposits was sustained while maintaining robust asset quality levels, thanks to NBK’s prudent risk management policy.

“In 2023, we witnessed a compelling demonstration of the strength of our investment philosophy in growth initiatives, underscoring the value of our customer centricity.  This played a pivotal role in the sustained growth of our diverse business sectors as we persistently invested in the future throughout the year. A central focus was placed on enhancing our digital capabilities to better serve our customers.. We also introduced innovative products and solutions crafted to assist our customers in seamlessly meeting their banking needs,” Al-Sager confirmed.

He emphasized that throughout the year, NBK maintained a steadfast focus on positioning its customers at the core of its priorities, supporting their financial goals through the provision of innovative digital services and products. Notably, the bank garnered several prestigious accolades during the year, including the recognition for being the most innovative bank worldwide in delivering digital banking services by Global Finance Magazine.

“As we navigate the opportunities and challenges that the year 2024 may present, our commitment remains unwavering in maintaining a focus on profitability, capital robustness and sustainable growth. We also acknowledge the importance of closely monitoring various challenges, particularly the escalating geopolitical tensions. Consequently, we approach the future with a sense of caution, mindful of the potential impacts on the operational environment in the region,” Al-Sager said.

He highlighted that the Group, guided by a commitment to responsible leadership, has embraced a new trajectory for its ESG strategy through the formal adoption of a framework for ESG standards. This commitment is evident in the integration of ESG principles into products and services, including offerings such as green mortgage loans, consumer loans for electric cars, eco-friendly housing loans and sustainable finance value propositions.

In addition to that, NBK is committed to reducing its total operational emissions by 25% by 2025 and strives to achieve net-zero operationally by 2035. These efforts are integral to the Bank's comprehensive plans to attain carbon neutrality by 2060. These initiatives have played a role in improving NBK’s MSCI ESG ratings to BBB, in their 2023 review.

Kuwait: Impressive Response from NBK’s Employees in “Your Voice Matters 2023”

Seeking to improving employee engagement, and to foster a positive organizational culture and workplace environment, National Bank of Kuwait (NBK) held its third bank-wide Employee Engagement Survey called “Your Voice Matters 2023”, where employees had the chance to provide their feedback about work environment at the bank.

The survey was first launched in 2018 for NBK Kuwait only, then the second survey in 2021 was expanded to include all international locations, furthering it this year to Group level by including employees in NBK Wealth Management, for the first time. NBK has partnered with a third-party organization “Willis Towers Watson” to ensure utmost confidentiality and give employees the freedom to express their opinions.

The aim of the survey is to measure employee engagement and satisfaction, and highlight NBK's key strengths and areas to improve, which helps make NBK a better workplace, and increase employee satisfaction and retention. It covers 21 main categories, with this year featuring two additional aspects namely ‘Employee Wellbeing’, Diversity & Inclusion’.

The survey that ran for 3 weeks in 4 languages attained a remarkable response rate at 86%, significantly higher than the global average response rate, showing high levels of pride and commitment to NBK as a great organization to work for, with the number of participants reaching 5,200 employees It also achieved a high ‘Sustainable Engagement’ score of 84% for NBK Group, ahead of the global average rate for financial institutions, with main strengths being Learning & Development, Image and Reputation, and Employee Well-Being.

Other key highlights of the survey included 93% of employees expressing their pride to be associated with NBK, 96% stating they work beyond what is required to help it succeed, and 86% seeing that their work gives them a sense of personal accomplishment. In addition, 92% of employees said they fully support the values for which the Bank stands, and 84% believe strongly its goals and objectives.

On this occasion, Mr. Emad Al-Ablani, Head of Group Human Resources at National Bank of Kuwait said, “Your Voice Matters survey is a great opportunity for our employees to play an active role in shaping the future of the work environment at NBK.”

“Our role is to listen to the opinions of our employees and work with them to improve the work environment in the bank, reflecting our belief that every voice in NBK really matters and contributes to change,” he noted.

“The survey results are shared directly with the executive management, and we have started working on implementing the received feedback by a specialized team formed from different departments that works carefully to address the issues and suggestions raised in the survey,” he explained.

“This initiative reflects NBK’s unwavering dedication to enhancing the work environment, by evaluating employees’ opinions, interests and experiences, and taking decisions and actions accordingly,” he added.

It is worth mention that NBK has taken many actions in response to employees’ feedback received in the previous surveys; mainly including entitling female employees to tickets payout for their spouse and children, allowing flexible working hours, enabling employees to benefit from annual leave balance in advance, and outsourcing the management of NBK Clinic to ensure high-quality healthcare services.

Regarding its human capital as the most valuable asset and an instrumental element for success and growth, NBK strives to attract and nurture high-caliber talent, and to create a diverse, inclusive and equitable workplace. It always focuses on employees’ physical, mental, and financial well-being to thrive at work.

As the leading organization in the banking sector, NBK stands out as the employer of choice for Kuwaiti talent, leading the entire private sector in terms of national labor ratio, while also enjoying the highest retention rates of Kuwaiti employees.

Kuwait: Al-Othman: NBK’s Digital Excellence is the Result of a Forward-looking Banking Vision

National Bank of Kuwait (NBK) hosted a panel discussion for Mr. Mohammed Al-Othman, CEO-Consumer and Digital Banking with Tamakan program trainees, in which he shared his extensive experience gained through a long career in the banking industry.

Tamakan is an immersive and innovative training initiative designed for young Kuwaiti graduates organized Creative by Confidence with a strategic partnership with NBK for the fifth year in a row. This program offers a unique opportunity for Kuwaiti fresh graduates to benefit from the expertise of the members of bank’s executive management.

The session saw remarkable interaction, as Al-Othman shared the milestones of his career in Kuwait’s leading banking institution, and the challenges he faced throughout this journey. He also answered a number of questions posed by the participants, as well as exchanged ideas and visions, and raised issues preoccupying the youth during their early career.

Joining NBK

Al-Othman talked about his early career when he worked as a teller at NBK branches and his progression in the branches, saying: “I joined NBK in 2006, where I started in branches. I enjoyed working in the branches because of direct contact with customers, as I always had a passion for serving people and meeting their needs. Working in branches gave me great experience in identifying customer problems and the ways to solve them.”

“From day one, I had a great passion for continuous development and learning, and working in the branches was a two-shift system. I used to stay at work between the shifts to continue working on developing my skills. So, the key advice I can give to young people at the beginning of their career is to be committed to learning, development and enhancing their skills, especially at a young age, as learning at this stage is better and easier,” he added.

“After moving from the branches to the head office, I sought to serve people and meet customer needs in a broader way, especially after the experiences I gained from working in branches and understanding the needs of customers from different segments and ages,” he continued.

“I participated in many training courses at Harvard and Columbia Business Schools, which represented a major turning point in my career, as it helped to upskill me in different area, which was reflected in my performance and had a significant impact on my career development, and made me more passionate and determined to success,” he noted.

Mistakes are the key to learning

Al-Othman talked about the fear of making mistakes at early career saying, “There is no work without mistakes. The employee will not learn without making mistakes, but what is most important is the effort made and the added value that the employee gives to the work team and the organization he works for.”

“Be brave and let go of the fear of making mistakes in your work. Work to acquire new skills every day, and try to benefit from the experienced and professional colleagues at the workplace, whether they are juniors or seniors,” he advised the youth.

“Learning and development create self-confidence and upskilling yourself makes you stand on solid ground. Therefore, the easiest way to progress to leadership positions is to acquire the necessary experience and skills and be prepared to seize the available opportunities,” he remarked.

“At NBK, career progress is based only on employee’s competence, commitment, dedication, productivity, added value provided to the organization, and his role in improving the quality of the bank’s products and services,” he emphasized.

Work environment

Listing the key factors that enabled him to reach this position, Al-Othman said: “The work environment at NBK is ideal for those who have passion and ambition for advancement by accommodating creativity and innovation. The bank also helps employees to achieve their ambitions, thanks to the unique opportunities for continuous professional development, through the high-quality training programs provided both to employees and fresh graduates, in partnership with globally reputable educational institutions.”

“Working at NBK has instilled in me the culture of continuous development, creativity, innovation, and always looking for solutions to develop work and provide high-quality products and services. I always strive to make my mark in every position, and to add value to the organization, customers, and my team members,” he added.

“NBK has a set of principles defining work culture and all the details related to the work environment and communication between team members, which represents a melting pot for all ideas and different management approaches on all levels, with open-door policy and one-team spirit representing key characteristics of NBK’s work environment. 

Finding passion in NBK

Answering a question from one of the participants about whether he was offered positions in the public sector, Al-Othman said: “Working in the private sector gives me more room for creativity, innovation and continuous development, especially in an institution like NBK. Conversely, the public sector is still characterized by rigidity and routine, so I always follow my passion and choose the place where I feel able to develop work and provide added value.”

Al-Othman advised the youth not to focus on job grade or financial returns only, but most importantly the passion and love of their job. Success is not limited to finding a specific jobs in a large organization, but you must from day one set your goals and work to achieve these goals by doubling effort and continuing education and training so that you can add value to your team and organization.

Al-Othman mentioned that the ambitious Kuwaiti youth are highly interested to join the private sector, and from our side, we are seeking to attract national talent to join NBK, the largest banking institution in the private sector.

“Supporting the youth is instrumental in NBK’s strategy, as we are always keen to attract national talent and provide a series of professional training courses and academic programs to develop upskill and qualify them to take on leadership roles in the future,” he added.

Advancement of payment systems

On a question about the future of payment systems, Al-Othman said: “The payment landscape will see significant advancement during the coming period, as we always strive to develop the services provided to the public, using cutting-edge technology.”

Al-Othman mentioned that Kuwait is a regional leader in digital banking and payment solutions, as the young nature of Kuwaiti society enabled faster spread of technology and wider adoption of digitization among all segments.

Speaking on Weyay, Kuwait’s first digital bank, Al-Othman said, “The launch of Weyay Bank echoes NBK’s digital transformation culture and strategy, as well as our endeavors to stay relevant to the needs of the youth by providing them with all innovative banking services. The idea of establishing Weyay was primarily to attract a segment of young people whose preferences we have studied very carefully according to specialized research and data analysis using advanced scientific methods.”

“The huge digital advancement and boom in banking services over the past years was the fruit of years of work by all departments in the bank, as we developed plans and strategies and set goals to provide customers with the best innovative and advanced products that serve their needs and expectations,” he added.

“Today, we are reaping the fruits of long years of hard work and successful strategies that fostered our excellence in the area of cutting-edge digital services and payment solutions. 

These results also prove our prudent management and forward-looking vision for the changes now taking place in the banking industry,” he noted. “The ideal work environment at NBK propels everyone to do their best to maintain the bank’s leadership among local banks, and ensure its superiority in providing the most advanced digital banking services,” he concluded.

It is worth mentioning that “Tamakan” is part of NBK’s CSR contributions and strategy to achieve sustainable development, which depends on building an innovative, hardworking and responsible generation. The bank also always places the youth as a top priority being the cornerstone for creating a prosperous future for Kuwait.

Kuwait: NBK Celebrates Graduation of the Eighth Cohort of “High-Fliers” Program

National Bank of Kuwait (NBK) celebrated the graduation of the 8th cohort of its leadership development program “NBK High-Fliers” which is held in collaboration with IE Business School, Madrid.

The closing ceremony was attended by NBK Executives, as well as representatives of IE Business School, Madrid.

This cohort extended over a period of 6 months and graduated 21 participants from different areas in the bank including NBK Capital, as well as international locations (NBK KSA Wealth Management, London, Shanghai, Paris and Bahrain).

The program covered a variety of important topics including key leadership skills, new trends in marketing, negotiation skills, building a culture of excellence, change management and innovation, measuring and managing performance, as well as management science, effective communication, developing new and unconventional thinking, and combining technical and leadership skills to cultivate strategic thinking in leadership.

The participating teams presented their projects for innovative banking themes and solutions; and the panel consisting of executives at NBK and representatives of IE Business School, Madrid, selected 3 winners in the top performance ranking, and a winning innovation project team, whose project will be implemented subject to a set of criteria and conditions set by NBK.

On this occasion, Najla Al-Sager, Head of Talent Management, Group Human Resources at National Bank of Kuwait, said, “The NBK High-Fliers program for developing young banking leaders is part of the ongoing efforts to develop our human capital and talent. It also echoes the bank’s vision of placing the sustainable development of human resources as a top priority, especially young leaders, who are considered essential for achieving the bank’s long-term ambitions.”

“NBK places the development of its people as a top priority, harnessing all its capabilities to contribute to their career progression by providing training and development programs held in partnership with globally renowned educational institutions, in order to keep pace with the key changes in the banking business,” she added.

NBK boasts a unique work environment that is comparable with international peers, where it harnesses all its capabilities to develop employees and stimulate their creativity and innovation. This reflects positively on employees’ performance, and helps the bank maintain its leadership position, both locally and regionally.

Founded in 1973, IE Business School is considered one of the leading and top ranked business schools in the world according to international magazines and newspapers including Forbes, The Economist, Financial Times and Bloomberg.

Kuwait: Al-Bahar Visits Al-Ghanim Bilingual School, Overseeing the "Bankee" Program Rollout

National Bank of Kuwait (NBK) paid a special visit to Al-Ghanim Bilingual School in Salwa to assess the progress of the "Bankee" Program, marking its official launch in the current academic year.

NBK executive management conducted a school tour to observe key advancements in the implementation of the "Bankee" program across schools. This initiative seeks to raise awareness and foster financial literacy among students in both public and private schools. The program is carried out in collaboration with the Ministry of Education, the Anti-Corruption Authority "Nazaha," and Creative Confidence.

The visitors included Ms. Shaikha Al-Bahar, Deputy Group CEO at National Bank of Kuwait, Dr. Salman Al-Lafi – Assistant under Secretary of Private and Qualitative Education and Eng. Abrar Al- Hammad, Assistant Secretary-General of the Prevention Sector at Nazaha and Sumayah Al-Jasem, Founder, Managing Director at Creative Confidence.

The school's program managers briefed Al-Bahar on the students' engagement with the unique content of “Bankee” Program. They discussed details related to the program's application, including the virtual bank experience enabling students to have a financial account and trade using the virtual currency "Bankoz." The students earn rewards by accumulating program currency in their accounts.

Al-Bahar visited several classrooms to observe how the program has integrated into students' daily routines, witnessing firsthand the awards given for exceptional performance and behavior. 

The visit attracted a significant number of parents who engaged with their children, discussing the program's features. 

Al-Bahar expressed her satisfaction with the notable progress of the Bankee Program, highlighting the excellent engagement from the entire system, including schools, students, and supportive parents who have embraced the idea since its inception.

Al-Bahar emphasized that the Bankee program aligns with NBK’s overarching commitment to promote financial inclusion across all societal segments. She stressed the importance of supporting initiatives that empower children to manage their financial resources effectively, enabling them to build a secure future for themselves and their families.

Al-Bahar expressed that NBK, driven by a sense of national duty and responsibility, is committed to leveraging its unique capabilities and extensive financial experience. This commitment aims to make a substantial contribution in promoting awareness of financial stability and independence among the present generation of Kuwaiti youth.

“Comprehensive financial education not only opens doors but also plays a crucial role in fostering the long-term well-being of individuals, families, and communities. Increased financial literacy serves as a foundation for both personal and national prosperity,” Al-Bahar said.

“Empowering our children with financial knowledge is an investment in our future. Equipping them with the skills to make informed financial decisions sets them on the path to success and prosperity,” Al-Bahar added.

Al-Bahar also emphasized NBK’s strong belief that the youth are the future leaders of our nation, and the bank’s aims to play a key role in their development journey by imparting valuable lessons on managing money wisely.

The success of the program in the pilot phase has garnered interest from schools and students, prompting the initial registration of 30 out of 150 applicants. Additionally, a special needs school (Joan Al Kuwait Elementary School), has also joined "Bankee" Program. Over 16,000 students are currently benefiting from the program, with the active involvement of 3,000 teachers.

"Bankee" Program has expanded its reach by launching its website in both Arabic and English. Additionally, it has established a presence on various social media platforms such as Instagram, TikTok, and YouTube. These initiatives aim to facilitate access for all participants to the program's content, activities, and events taking place in different schools throughout the year.

NBK has recently been honored with the Bronze Award from Qorus in the Environmental, Social, and Corporate Governance (ESG) category for Bankee Program. This recognition signifies the bank’s commitment to incorporating innovations that integrate sustainability and environmental, social, and governance standards into its activities.

"Bankee" stands as the pioneering program launched by NBK, designed to contribute to financial inclusion within the community. Specifically tailored for students in schools, the program seeks to enhance levels of financial literacy, ensuring sustainable improvement for the future. NBK officially inaugurated the program in October in collaboration with the Ministry of Education and Nazaha.

The program's objective is to familiarize students with fundamental economic concepts and practices, including earning, spending, saving, and financial responsibilities. This is achieved through the implementation of a classroom system that mirrors the real economic environment, employing practical methods within an interactive setting.

Kuwait: Al-Kharafi to the Youth: Never Stop Striving for Development.. Unleash Your Creativity

As part of the ongoing panel discussions of “Tamakan” with the executives of National Bank of Kuwait (NBK), the program hosted Mr. Mohammed Al Kharafi, COO – Head of Group Operations and Information Technology, who shared his extensive experience gained through a long career in the banking sector, and gave them advice on the best ways to develop their career.

This is the third the panel discussion of “Tamakan” program for training Kuwaiti fresh university graduates, organized by Creative Confidence for the fifth year in a row with NBK’s strategic sponsorship.

The discussion focused on key insights for a successful career in a dynamic landscape of the banking business, where the ambitious graduates gained insights into career success and the future of information technology in the banking sector.

A unique opportunity

Commencing his discussion with the youth, Al-Kharafi said: “Tamakan” program is a unique opportunity to enhance the skills required to navigate your way into the labor market. Over the past years, the program has achieved many excellent outcomes, so, every participant should make the most of this opportunity, considering it as the starting point for a successful and sustainable career.”

“At NBK, we believe in the importance of supporting the youth, and therefore, we are always keen to attract and develop young national talents. This program has been designed for the youth who are ambitious and passionate about their career, by helping graduates choose their professional and academic path more clearly. Therefore, the program is an opportunity for fresh graduates to develop their knowledge and become an effective workforce,” he added.

Al-Kharafi called on the young people to take advantage of training opportunities, saying, “Make your ambitions sky-high, and strive to develop the necessary capabilities, experiences and skills that help realize these ambitions. Do not lose passion or let frustration creep into you just because of the obstacles you encounter at the beginning of your career. On the contrary, you should rather learn how to overcome these obstacles and learn from them until you reach your goal.”

Successful career

Speaking of his early career, Al-Kharafi mentioned: “ My passion  and my first choice was to work in the banking sector; because it always propels me to learn, develop, acquire new skills and exposes me to new experiences every day, and stay ahead of the latest technologies, which I utilize to improve and to develop the products and services provided to customers,” he noted.

I joined NBK and started at Branches division, where I worked my way up to become branch manager. Afterwards, I held several positions until I currently reached the position of Head of Group Operations and Information Technology.”

“The transition from working as a branch manager to joining Group Operations & IT was not easy, due to the difference in work nature, but my passion for learning, developing, facing challenges and overcoming obstacles was undoubtedly crucial to my career accomplishment,” he continued.

Al-Kharafi highlighted the importance of discipline and adhering to high work ethics, having a continuous learning mindset, and adaptability to the ever-evolving labor market landscape.

He shared real-life tips on navigating the early stages of career, noting that focusing on problem solving and critical thinking are key characteristics of a successful personality, as well as the ability to analyze complex situations and develop creative solutions is essential for success in any job role.

“Curiosity and passion for continuous learning is what we look for in new employees, because this desire is the main driver for building a successful career. New employees have a margin of risk at their early career, as well as the opportunity to benefit from the expertise of team members in each department,” he added.

Al-Kharafi called on the trainees to go the extra mile in continuous learning and developing skills, and to try to make the utmost benefit from all the top-notch training programs at the beginning of their career to raise their efficiency and skills with knowledge, which will help them make the right decisions in the future.

Continuous development

Al-Kharafi spoke about the development of banking, especially with technological advancement and mobile banking apps that revolutionized how banking transactions are made, and have grown to account now for the largest share of banking transactions. “NBK led the way in digital transformation, and Group Operations play a fundamental role in achieving NBK Group’s goals by providing top-notch innovative digital banking solutions. We are also constantly working to advance the bank’s digital agenda, as one of the trailblazers of digital innovation in Kuwait and across the entire region,” he explained.

“We are always seeking to embrace innovation and apply it in all of the bank’s operations and business models. We also provide a work environment promoting continuous development and flexibility, which enables us to keep pace with the ever-evolving customer requirements in light of the fast-paced technological advancement in the banking industry,” he added.

Robotics for speed and accuracy

In the discussion, Al-Kharafi highlighted the emerging trends, innovations and intersection of banking and technology as well as the future of IT in banking and new technologies like Artificial Intelligence (AI), Robotic Process Automation (RPA) and leveraging new technologies to advance the bank’s digital agenda.

He gave an insight into the important role of RPA in banking operations, highlighting its potentials and impacts, and explaining how RPA improves efficiency, simplifies operations, and propels the industry to higher levels of innovation.

Al-Kharafi discussed how these technologies are transforming the way banks operate, making them more efficient, secure and customer-centric.

“With customers increasing reliance on smartphones for their banking transactions via the NBK Mobile Banking App, we continue to focus on robots to automate our operations using AI, which helps reduce service turnaround times while improving accuracy and customer experience,” Al-Kharafi noted.

“Al-Kharafi Confirmed that In line with the instructions and directions of the Central Bank of Kuwait & The Cybersecurity Strategic Frame work , Cybersecurity is the a key pillar of our digital transformation agenda. NBK adopts a proactive cybersecurity strategy to meet the dynamic development of cyber threats, in addition to its endeavors to improve internal operations and create a robust digital culture across the bank, including a comprehensive framework for data governance, privacy and security,

NBK Group Operations & IT organizes a program titled “Innovation Lab”, which serves as provides an incubator to help stimulate employees’ creativity to provide innovative solutions for challenges simulating their work nature in the bank. At the end of the program, the participant with the best idea is named and honored.

Golden tips

Al-Kharafi advised the young people to look for a work environment that provides them with continuous development and helps their progress to the highest positions. He noted that NBK regards supporting the youth as a fundamental part of its strategy, and always seeks to attract national talent and develop and upskill them through a series of training courses and professional academic programs, in preparation for taking on leadership positions in the future.

It is worth mentioning that the goal of “Tamakan” program is to develop the personal skills needed to become compelling candidates, in addition to encouraging the Kuwaiti youth to explore their potentials and unlock their creativity. 

The program adopts the Blended Learning methodology and focuses on many themes and workshops about creativity and innovation, design thinking, business model design, career exploration and innovative de-risking solutions.

NBK is a key contributor in different social initiatives aligning with Kuwait National Development Plan (KNDP), including youth empowerment and education development, reflecting its belief that the youth are Kuwait’s most valuable resource and the main driver of national development.

Kuwait: NBK Hosts a Series of Workshops for the Employees of Kuwait Fund

In line with its strategic partnership with many government institutions across all sectors, National Bank of Kuwait (NBK) hosted a series of workshops for the employees of Kuwait Fund For Arab Economic Development (KFAED), which focused on key areas related to the Fund’s activities including Treasury, Trade Finance, and Money Transfers.

The series included 2 workshops held over 4 days at NBK Headquarters and attended by 25 KFAED employees during the period from 10 December 2023 to 14 January 2024.

The sessions included interactive discussions and knowledge sharing, with the aim of fostering a stronger connection between KFAED and NBK, and ensuring continued support for its vital contributions and strategic initiatives in global economic development. KFAED plays an active role in the international development efforts by providing technical assistance, as well as loans on concessionary terms to finance development projects in many developing countries. 

Speaking on this, Ghena Ben-Ghareeb, Head of HR Strategic Business Partners, Group Human Resources at National bank of Kuwait said, “These workshops underline NBK’s dedication to actively engage in developing the human capital of government entities, aligning with its role as the main banking partner of the government sector.”

“NBK has unwavering dedication to developing human resources, within its partnerships with all institutions, especially in the government sector, in line with delivering its social and development responsibilities. This complements the bank’s annual initiatives stemming from its belief in the profound impact of these purposeful programs in serving society and people, and reflecting its leading role in this field over long decades,” she noted.

“Disseminating the banking culture and familiarizing the government sector cadres with the banking business in general comes within NBK’s endeavors to align the Group's economic sustainability goals with those of the country, which are also driven by highly trained and qualified human resources,” she added.

“NBK maintains solid relations with Kuwaiti government institutions, and the training plans for national cadres come within this synergy and the bank’s effective contribution in preparing a competitive and productive generation to elevate national workforce,” she emphasized.

NBK’s initiatives underline its profound strategy for investing in the human capital and raising financial awareness in all entities in Kuwait. To this end, the bank allocates a team of prominent banking experts to share their knowledge and expertise with the promising talents.

Kuwait: NBK Organizes a Masterclass on Leadership and Influence, in Partnership with IE Madrid

Regarding its employees as the most valuable resource, National Bank of Kuwait (NBK) always strives to develop them and increase their efficiency through the best training and development programs and workshops in collaboration with globally renowned educational institutions and experts. In this context, the bank organized a masterclass focusing on Leadership & Influence titled “Achieve Greater Influence and Impact with Less Effort”, in partnership with IE University - Business School Madrid.

This masterclass is the last of a series of 6 masterclasses organized by NBK covering a number of key topics including Innovation and Leadership and Effective Communication and Negotiation Skills.

The Masterclass was delivered by Professor Mark Fritz, the prominent leadership speaker, and professor at IE University - Business School Madrid and attended by 40 NBK leaders.

In the Masterclass, Mark shared with participants a framework with the ways for leaders to extend their influence to places they cannot personally reach. When leaders extend their influence and impact, they expand success, not just for themselves, but also for everyone in their team. 

Mark has mentored leaders and delivered masterclasses in over 50 countries across the world. He has also delivered leadership development programs for leading companies, banks and other institutions, and taught courses on ownership, leadership and influence at prestigious business schools across Europe.

Speaking on this, Maryam Al-Nasrallah, Talent Management Manager, Group Human Resources at National Bank of Kuwait, said: “We are always working to enhance the competencies and technical skills of our employees, including leadership capabilities and personal and professional skills. This aligns with NBK’s belief that work team efficiency is essential to ensure the quality of different banking services provided to customers, and that continuous training keeps employees abreast of the changes and developments taking place in the banking industry.”

“Investing in our employees is instrumental in our strategy to achieve sustainable growth and maintain our excellence and leadership. Therefore, NBK strives to keep pace with the latest developments in the training and development area, as part of the continuous support provided to employees to empower and qualify them through specialized programs,” she added.

“NBK has a unique work environment that is comparable with international peers. We harness all our capabilities to develop employees and always seek to unlock their creativity and innovation, which positively reflects on their performance, and help maintain our leadership position, both locally and regionally,” she noted.

Founded in 1973, IE Business School is considered one of the leading and top ranked business schools in the world according to international magazines and newspapers including Forbes, The Economist, Financial Times and Bloomberg.

Kuwait: Al-Marzouq: NBK is the Perfect Arena for Ambitious Goal-Setters 

In its second panel discussion featuring executive management members of National Bank of Kuwait (NBK), the TAMAKAN Program welcomed Mr. Sulaiman Al-Marzouq, Deputy CEO for Kuwait at National Bank of Kuwait. During the session, Mr. Al-Marzouq shared valuable insights into the pivotal stages of his career with the Kuwaiti youth, offering insights into the most significant stages of his career that eventually led to his assumption of top leadership positions within the largest banking institution in Kuwait.

Al-Marzouq discussed the challenges he encountered during his enriching journey with the participants of the TAMAKAN Program, dedicated to training university graduates. This program, now in its fifth consecutive year, is sponsored and strategically supported by NBK and organized by Creative Confidence. In addition to sharing insights into his experiences, Al-Marzouq offered valuable advice to the participants, serving as a guiding light for them to forge a successful career path.

Fostering an Inspiring Workplace Atmosphere  

Al-Marzouq emphasized the significance of establishing goals early in life for success, along with the importance of selecting a work environment that fuels energy and creativity. During his conversation with young individuals, he remarked, "In the prime of your professional life, each person should define their goals and align their job choices accordingly. While a job can be a means to achieve financial and professional objectives, passion for the work remains the fundamental cornerstone for success, progress, and the realization of one's aspirations."

NBK offers an optimal work environment for individuals driven by passion and ambition to attain top leadership roles. With a workplace atmosphere comparable to international institutions, the bank is dedicated to supporting employees in realizing their aspirations. NBK provides outstanding opportunities for continuous professional development, extending to its workforce, including recent graduates, through high-level training programs in collaboration with renowned educational institutions," Al-Marzouq added.

Al-Marzouq offered guidance to the youth, advising them to embrace the current phase of their lives. His advice included finding joy in their work while their responsibilities are still minimal, pursuing their passion wherever it may lead, maintaining ambition, striving to acquire new skills daily, and making the most of the competencies and experiences gained through their work.

Courage & Accountability

In reference to the commencement of his professional journey, Al-Marzouq remarked, "I initiated my career in the treasury department, drawn to the multitude of skills and experiences it imparts—vital for anyone in the banking sector. I developed a deep appreciation for this role and dedicated 12 years to it, recognizing that the department serves as a crucial link between the bank and the dynamic local and international financial markets, demanding swift decision-making."

“Engaging in treasury management not only deepened my love for banking but also instilled in me the courage to embrace greater work responsibilities. Hence, every ambitious individual should be fearless and unafraid of making mistakes, recognizing that one cannot learn without them. A mistake serves as the initiation of the journey toward success and growth. However, the crucial lesson lies in avoiding the repetition of the same mistake,” Al-Marzouq advised.

Continuing his discussion on his professional journey, Al-Marzouq mentioned, "Following a 12-year tenure in treasury management, I transitioned to the Central Bank of Kuwait. This move afforded me the opportunity to gain extensive skills and knowledge concerning the regulatory and administrative framework that govern the operations of the banking sector in Kuwait."

Emphasizing the significance of the Central Bank of Kuwait, Al-Marzouq highlighted it as a venerable and crucial institution for the operations of local banks. He noted that the Central Bank houses experienced bankers whose wealth of expertise significantly contributes to bolstering confidence in both the local banking sector and Kuwait’s economy.

The Crucial Role of Confidentiality in Banking Careers

Al-Marzouq directed the focus of the youth engaged in the "TAMAKAN" Program to a crucial aspect when embarking on a career in the banking sector – the importance of safeguarding work confidentiality. He emphasized that an employee's reputation is inseparable from the institution they work for, highlighting how a strong personal reputation significantly contributes to one's professional development. Stressing the need for responsibility, he underscored the importance of maintaining both personal and organizational reputations, particularly in the banking sector, where the nature of the work often involves handling sensitive information.

Team Spirit

In response to a participant's inquiry regarding rapid development, Al-Marzouq emphasized the advantages of collaborative teamwork, highlighting how the exchange of experiences and skills among team members is mutually beneficial. 

Encouraging continuous learning, Al-Marzouq emphasized that it enhances an individual's promptness and accuracy. He advised young professionals to exercise patience, urging them not to leave their roles or organizations solely due to factors related to a specific person in a managerial position or within the same team. Instead, Al-Marzouq recommended having a well-thought-out plan and goals, rooted in personal decisions, as circumstances may change, presenting unforeseen opportunities. The key is to be fully prepared to seize these opportunities when they arise.

Al-Marzouq advocated prioritizing the enhancement of skills that contribute to swift and accurate work completion. He encouraged individuals to regularly seek advice from those in their surroundings on the most effective and efficient approaches to completing tasks. Emphasizing the importance of accumulating ample experience and acquiring the necessary skills, he underscored that such efforts are essential for securing higher positions and deserving promotions in one's career.

Emphasizing that career advancement at NBK is contingent on skill and achieving work with excellence, Al-Marzouq highlighted that the career path doesn't conclude solely with promotion or attaining a higher rank. He pointed out that several factors should be considered, with a primary focus on the added value one can contribute to the new role or position.

Charting an Exceptional Career Path

Al-Marzouq recommended that participants in the "TAMAKAN" Program seize the valuable opportunity offered by NBK. He encouraged them to leverage this exceptional experience to enhance their skills and readiness for the job market. The program, he emphasized, serves as a crucial steppingstone for newly graduated university students, facilitating their transition into a dynamic and active workforce within the Kuwaiti economy.

Al-Marzouq further counseled them to focus on honing essential skills and gaining the requisite experience, positioning themselves to meet the demands of a highly competitive labor market across various sectors. He underscored that acquiring these capabilities not only prepares them for employment but also empowers them to potentially establish their own businesses. Al-Marzouq emphasized that the program aligns with NBK's strategy, dedicated to supporting Kuwaiti youth, paving the way for them to forge a bright and successful future.

A Program of Exceptional Empowerment

The TAMAKAN Program aims to cultivate essential personal skills for active participation in professional life. Moreover, it strives to inspire Kuwaiti youth to discover their hidden potential and capabilities, while also fostering the creativity of emerging talents.

The program adopts a blended learning approach, combining in-person sessions with online training through electronic platforms and interactive tools for remote learning. It covers various subjects and workshops, delving into creativity, innovation, design thinking, business model design, career exploration, and the development of solutions to mitigate risks.

The program adopts a blended learning approach, combining in-person sessions with online training through electronic platforms and interactive tools for remote learning. It covers various subjects and workshops, delving into creativity, innovation, design thinking, business model design, career exploration, and innovative de-risking solutions.

NBK is dedicated to supporting Kuwait’s strategic agenda, particularly in fostering economic growth through backing the private sector and alignment with the state's development plans. This commitment is in line with the long-term national goals outlined in New Kuwait Vision 2035.

Navigating a Successful Career Path: Insights Shared by Al-Marzouq

In his session with TMAKAN Program’s participants, Al-Marzouq shared a set of guidance, following which could aid those entering the job market in excelling, progressing, and forging a successful career path.

• Clearly define your goals and align your job choices accordingly.
• Equip yourself with ample experience and the necessary skills.
• Don't fear making mistakes; learning often stems from them.
• Prioritize continuous self-development to stay prepared for opportune moments.
• Pursue your passion and find joy in your work.
• Always consider the added value you contribute to the organization.
• Recognize that an employee's reputation is intertwined with the workplace’s overall reputation.

Kuwait: NBK Awarded “Best Foreign Exchange Provider in Kuwait” for 2024

National Bank of Kuwait (NBK) was awarded “Best Foreign Exchange Provider in Kuwait” for 2024, for the 12th consecutive time in Global Finance’s annual survey based on the input from industry analysts, corporate executives and technology experts around the world.

The criteria for choosing the Foreign Exchange Providers Award winners included transaction volume, market share, scope of global coverage, customer service, competitive pricing and innovative technologies. Global Finance also considered bank submissions, input from industry analysts, corporate executives and technology specialists.

On this occasion, Global Finance mentioned, “This year’s winning FX banks have invested heavily to both increase the breadth of the FX services they offer and provide innovative FX tools to help their clients navigate headwinds.”

Global Finance magazine has named its 24th annual World’s Best Foreign Exchange Providers in 87 countries including 7 different global regions, as well as the winning providers for FX research and analysis and for FX trading technology.

NBK was listed among the Best Foreign Exchange Providers in the Middle East and the World, in terms of providing FX market services along with major international financial institutions such as J.P. Morgan, BBVA, Société Générale, and UBS.

Receiving this prestigious award reaffirms NBK’s position as a local and regional leader in providing top-notch innovative banking solutions to its clients. This leadership is the fruit of the bank’s huge investments in developing its infrastructure to offer high-quality services as well as its investments in high-caliber banking professionals.

Furthermore, it is a testimonial to the dedication and hard work of NBK Treasury team who strive tirelessly to ensure providing clients with highly competitive rates, top-notch customer service, and innovative solutions tailored to their individual needs.

Global Finance, founded in 1987 and headquartered in New York, is one of the most reputable magazines specialized in finance and economics. It has a circulation of 50,000 readers in 193 countries around the world, including senior corporate and financial officers responsible for making investment and strategic decisions at multinational companies and financial institutions.

The magazine conducts various surveys annually about innovation and profitability for banks and financial institutions all over the world, based on which it selects top performers on the regional and international levels.

Kuwait: NBK Tops Social Media in Kuwait with the Highest Followers and Interactions

As we are approaching the end of 2023, National Bank of Kuwait (NBK) continued to dominate banking social media landscape in Kuwait, in terms of the number of followers as well as interactions and engagement across different platforms. In addition, the bank’s social media pages played an instrumental role in enriching customer experience through the proactive response, and customers’ impressive interaction with its engaging content.

NBK has the highest number of followers among all banks in Kuwait, with over 2.2 million followers across all platforms by the end of 2023.

During this year, the bank received 3.2 million interactions and increased the number of its followers by 160,000 followers on all platforms including Instagram, X, Facebook, TikTok and YouTube.

In addition, staying up to date with trends on TikTok was an important goal in 2023, as the bank succeeded in achieving more than 332,000 views on this platform, demonstrating impressive engagement from a large audience.

Commenting on these accomplishments, Abdul-Mohsen Al-Rushaid, AGM, Head of Digital Communications at National Bank of Kuwait said, “We are proud of our achievements in digital communication in 2023, which reflect our commitment to setting standards for meaningful and effective communicating with our customers, employees, and other stakeholders. This stems from our belief in the powerful role of effective communication in strengthening relationships and stimulating innovation.”

“During 2023, NBK’s Communications team worked hard to develop and implement effective communication strategies that had a positive impact on our business, noting that the engaging content and proactive responses took our platforms to new levels of excellence and leadership,” he added.

 “We continue to benefit from social media, which recorded a growth in the follower base by 10% during 2023, as a vital means of communication and engagement, while focusing on real-time interaction with customers, in addition to highlighting the different aspects of our social contributions,” he emphasized.

“Last year witnessed the launch of campaigns aimed at attracting potential customers, in addition to our pivotal role in supporting the regulatory authorities’ campaigns and keen endeavors to educate customers, most notably the Central Bank of Kuwait’s “Let’s Be Aware” campaign, which aims to promote financial inclusion and disseminate educational materials and awareness content,” he noted.

NBK is constantly updating its social media content, ranging from educational and media awareness campaigns, in addition to engaging content and challenge competitions that give followers the opportunity to enter draws on valuable prizes and exceptional rewards.

It is worth mentioning that NBK’s presence spans various social media platforms including Facebook, X, Snapchat, Instagram, LinkedIn and YouTube, underscoring its keenness to keep pace with all developments in order to satisfy customers’ needs and expectations, in addition to its constant endeavors to optimize communication with followers on these platforms.

Internal Communications

Recognizing the importance of internal communications, NBK has revolutionized its internal communication strategy. Using innovative channels and personalized content, we have fostered a cohesive environment where every employee feels connected, informed and empowered.

The introduction of interactive platforms, real-time updates, and comprehensive information dissemination resulted in developing a comprehensive strategy for internal communications that act as a hub for news and announcements delivered to all employees across different locations.

Improving website user experience

NBK’s commitment to providing an enhanced user experience has been embodied through continuous improvements to the website, by focusing on transparency, accessibility, customer centricity, as well as attractive design.

During 2023, NBK focused on improving website user experience through a new, more attractive and interactive journey that helped achieve unprecedented increase in the number of website users.

The new design of some website pages includes more visually attractive elements when browsing the website content via mobile, which represents 89% of website visits.

During the year, the number of visits exceeded 8 million visits, 73% of which were interactive visits, where users browsed more than one page during the same session, which boosted the number of webpages views to 12 million views.

Kuwait: NBK Hosts a Media Awareness Workshop on Sustainability and Climate Change

National Bank of Kuwait (NBK) took a pioneering step by organizing a workshop, the first of its kind in Kuwait, inviting diverse media outlets and newspapers. The focus was on showcasing ESG initiatives, along with discussions on strategies to promote awareness about sustainability and climate change concerns.

Dr. Ehab Shalaby, Chairman and CEO of DCarbon Global, a renowned expert in the field, delivered a lecture during the workshop conducted at NBK’s headquarters.

Journalists from diverse media platforms participated in the workshop, which delved into wide-ranging subjects such as the significance of environmental and social investment and financing to the hurdles in governance and reporting concerning environmental and social issues. Additionally, it delved into the journalists' role in advocating awareness about sustainability issues and climate change. The presentations within the workshop encompassed various themes, including comprehending ESG principles and their influence on companies and investors, pinpointing significant environmental, social, and governance trends and challenges within the Kuwaiti market and neighboring regions. Additionally, emphasis was placed on the significance of crafting reports on initiatives, measuring their impact, and effectively engaging all stakeholders regarding ESG issues.

At the workshop, attending journalists were offered a unique chance to delve deeply into comprehensive discussions about ESG issues and their profound effects on the corporate landscape. They explored the risks and opportunities associated with investing in sustainability-related facets, engaging in thorough and expansive conversations on these crucial topics.

Shalaby emphasized the media’s pivotal role in shedding light on the risks posed by climate change and its extensive influence on the business landscape across various sectors. He underscored the significance of this narrative at local, regional, and global scales, highlighting its widespread importance across various spheres.

He emphasized the evolution of "Sustainable Journalism" into a pivotal element in raising awareness and directing focus towards addressing the multifaceted challenges that societies encounter on the economic, environmental, and social fronts. He also highlighted the interconnectedness between decisions, operations, and activities in shaping the capacities of the present and future generations in these realms.

He elaborated on the pivotal role of banking and financial institutions in this domain, citing their integral connection to the companies and entities they finance as the primary drivers within this sphere.

Shalaby further highlighted that progress toward sustainability and the shift towards renewable energy should encompass the entire system. This comprehensive approach involves active participation from financial and banking institutions, pertinent government bodies, and all entities within both the public and private sectors.

He continued by pointing out that recent manifestations of climate change, like floods and forest fires, have adversely impacted certain companies and organizations involved in projects related to these areas. This has intensified the focus on the risks associated with climate change and the evaluation conducted by financial institutions before financing such projects. Ensuring the highest standards of ESG becomes imperative in this context.

Shalaby highlighted that certain countries in the region have made significant advancements and notable strides towards achieving specific sustainable development goals. However, he underscored the necessity for other countries to address pressing environmental concerns, water management, and pollution issues urgently to avoid lagging behind on the global stage.

Meanwhile, Amir Hanna, Head of Investor Relations & Communications at National Bank of Kuwait said: "The media stands as a crucial partner in the endeavor to raise awareness regarding the significance of sustainability. It serves as a pivotal pathway for shaping the future of upcoming generations.”

Hanna emphasized that NBK's initiative stems from a core belief in the importance of transparency and informed discussions that unite relevant organizations. Such collaborative efforts are deemed essential to instigate positive change and actively contribute to supporting Kuwait's sustainable development agenda.

He further added that comprehending and disclosing ESG concerns stands as a crucial step. This understanding equips media professionals with the requisite knowledge and tools needed to accurately report on these issues and illuminate their profound impact on both companies and society as a whole.

He emphasized that NBK has diligently undertaken significant measures in recent years to embed ESG standards at the core of its business framework, operational procedures, and organizational culture.  

Hanna detailed that in the preceding year, the Group restructured its ESG strategy, transitioning from a six-pillar approach to a more integrated model comprising four interconnected pillars: Governance for Resilience, Responsible Banking, Capitalizing on our Capabilities, and Investing in our Communities.

He emphasized that NBK is an industry leader in sustainability, having made significant strides in ESG issues. The bank initiated a comprehensive framework for sustainable financing to fortify and elevate its efforts in this domain. This commitment has now become a foundational pillar woven into all aspects of its business models, operational protocols, and organizational culture, thereby facilitating the transition towards a more sustainable and low-carbon economy. This alignment also resonates with Kuwait's economic plans.

Hanna highlighted that NBK stands among the leading institutions capitalizing on the widespread shift towards sustainable financing. The bank has proactively introduced services and products aligned with the green transformation journey. These include offerings like green mortgage loans, consumer loans to finance electric vehicles, financing for low-emission housing, and various sustainability-related financing options.

NBK has laid out clear plans and targets aimed at curbing carbon emissions within specific timeframes. Notably, the bank pledged to decrease total operational emissions by 25% by 2025 and aspiring to reach net zero operationally by 2035. These efforts are integral components of the bank's comprehensive strategy geared towards attaining carbon neutrality by 2060.

Kuwait: Al-Hamad: The Ultimate Return on Investment in Self-Development

The inaugural session of the “TMAKAN” training program was launched featuring executive management members from National Bank of Kuwait (NBK). The first panel discussion welcomed Faisal Al-Hamad, Chief Executive Officer - Global Wealth Management at National Bank of Kuwait. Al-Hamad shared his extensive experience spanning numerous years in the banking industry with the youth audience and engaged in an interactive session, responding to inquiries posed by program participants.

This panel discussion is part of the fifth edition of the "TMAKAN" training program, designed to train young Kuwaiti graduates. Organized by "Creative Confidence" and sponsored by NBK, this program offers a unique chance for trainees to tap into the expertise of the bank's executive management through discussion sessions. These open dialogues connect participants with NBK leaders boasting decades of extensive experience in the banking industry, providing invaluable insights to help them forge sustainably successful career paths.

Al-Hamad initiated the discussion by reflecting on the beginning of his career path. He said, "A specialized academic background isn't a requisite to attain a particular position or ascend to the pinnacle of a career. What truly matters is commencing from any point, focusing on growth, creativity, innovation, swift learning, and leveraging experiences within your work milieu."

Professional Debut 

At the outset of his career, Al-Hamad shared, "Following getting my degree from a university in the United States, I spent four years in asset management there. Subsequently, I pursued a master’s degree in business administration before transitioning to employment in Kuwait."

"Upon joining NBK Capital in 2007, the team comprised of just 25 members. However, the corporate culture ingrained within an organization of NBK’s stature instilled in me a fervor for continuous growth and an unwavering commitment to learning. I've imbibed a culture that influences my work decisions, prompting me to derive value from every nugget of information or news I encounter," Al-Hamad continued.

Al-Hamad reassured TMAKAN youth that channeling resources into honing skills and nurturing capabilities through learning and training represents the most lucrative investment, continuously expanding and accumulating gains with each passing day. He emphasized that regardless of one's career stage, there's an ever-expanding pool of knowledge to tap into. Al-Hamad highlighted training as a golden opportunity for recent graduates, urging them to seize this chance, particularly at the outset of their careers.

Work Environment

Al-Hamad delved into the significance of the work environment in fostering employee development, stating, "For anyone aspiring to forge a successful and sustainable career, finding an optimal work setting that fosters ongoing growth is paramount. The employee should harbor an innate passion for learning and maintain an inquisitive nature, constantly seeking to glean insights from those surrounding them."

Al-Hamad pointed out that NBK stands among the select few institutions embodying this attribute. He highlighted the bank's exceptional and distinctive work environment, akin to international standards. This distinction stems from NBK’s commitment to continuous learning, offering top-tier training courses in collaboration with prestigious educational institutions. These efforts aim to holistically develop employees' skills, ensuring they carve out independent, promising, and sustainable careers.

He offered advice to the attending youth, urging them to avoid wasting time on matters beyond their control. Instead, he recommended that they channel their energy into enhancing their job performance. “Foster ambition and prioritize cultivating positive relationships with your colleagues. This approach ensures a tranquil and conducive work environment that nurtures creativity and innovation."

Al-Hamad also underscored the importance of consistently acquiring new skills daily as the sole pathway toward personal advancement and reaching envisioned positions. He emphasized that resting is not a viable option, particularly amidst intensifying competition—both at individual and institutional levels. Every entity aims to draw in the necessary competencies and talents, seeking to distinguish itself from competitors. Hence, continuous skill development becomes imperative in this landscape.

Analytical Thinking

Al-Hamad emphasized the importance of staying abreast of the latest reports and studies while maintaining an analytical and critical perspective. He said, "I possess an innate drive to seek new information daily, honing my analytical thinking through the demands of my profession. I don't merely receive news passively; rather, I habitually analyze its potential impact on our business sector and decision-making processes."

Job Burnout

Addressing a participant's question on job burnout, Al-Hamad highlighted, "Each employee should seek motivations that drive ongoing professional growth. Losing the zest for learning might hinder an employee's ability to fulfill job demands and tasks, potentially leading to job burnout. This burnout can stem from the work environment or the place of work itself. Therefore, I consistently recommend seeking out the optimal work environment, which is precisely what NBK offers."

"Job burnout often arises from sustained work pressures, leading to diminished motivation, exhaustion, reduced enjoyment in tasks, and a loss of confidence in one's abilities. Hence, employees must continuously revitalize their engagement through various solutions. These may include taking vacations to alleviate work pressures, engaging in exercise, pursuing hobbies, or activities that bring joy, aiming to restore mental and physical vitality," Al-Hamad explained.

Practical Challenges

The “TAMAKAN" training program panel discussion proved to be a significant opportunity for recent graduates. It allowed them to hear directly from the CEO of Global Wealth Management at NBK Group, gaining insights into the work environment and strategies for success in their careers. Al-Hamad's advice provided attendees with valuable insights to shape their future professional journeys.

Al-Hamad highlighted the potential challenges awaiting new graduates in their professional journeys and offered guidance on overcoming them. He emphasized the significance of seeking assistance from colleagues and mentors when encountering obstacles. Additionally, he emphasized the value of maintaining an open mind and a readiness to continuously learn as essential strategies for navigating these challenges successfully.

It is worth mentioning that “TAMAKAN” received “The Social work Pioneer Project Award” from the GCC Council of Ministers of Social Affairs and Labor, recognizing it as an innovative training experience for Kuwaiti fresh graduates to achieve professional self-development in pursuit of emerging as active and efficient workforce.

Golden Advice

Al-Hamad offered a series of advice to new graduates, emphasizing the importance of cultivating a strong work ethic and maintaining a professional demeanor in their careers.

He also highlighted the significance of fostering positive relationships with colleagues, cultivating a constructive attitude, embracing adaptability in the face of change, and continuously seeking opportunities for learning and personal growth among other valuable tips for success in one's career.

• Invest in honing your skills and developing your capabilities; it's an investment with continually growing returns.

• Seek out an optimal work environment that fosters continuous development.

• Acquire new skills daily as the key pathway to progress.

• Concentrate on enhancing job performance, nurturing ambition, and fostering passion.

• Foster positive relationships with colleagues.

• Recognize that family understanding is pivotal for success in business.

• Rejuvenate mental and physical vitality through exercise or vacationing.

Kuwait: NBK Announces Exclusive Partnership with X-cite for KWT Visa Infinite Cardholders

Seeking to enhance customer banking experience with top-notch offers and rewards, National Bank of Kuwait (NBK) has announced an exclusive partnership with X-cite by Alghanim Electronics, subsidiary of Alghanim Industries (Kutayba Alghanim Group), to provide NBK KWT Visa Infinite Credit Cardholders with exclusive offers that meet their expectations.

Under this partnership, cardholders will get 10% NBK KWT Points when using their NBK KWT Visa Infinite Credit Card to shop at X-cite instore, online or through the app, as well as 2% instant discount on selected products, effective from 1st of January 2024.

Speaking on this partnership, Mr. Mohammed Al-Othman, CEO of Consumer and Digital Banking Group said, “As we approach the beginning of the new year, we aim to provide our customers with exclusive offers tailored to meet their different needs and categories. This comes within our continuous endeavors to keep pace with their changing needs and evolving expectations.”

“NBK maintains solid relationships with leading institutions across different sectors, which we leverage to enhance customer banking experience by delivering top-notch offers, discounts and benefits for unmatched banking experience” he added.

“Service excellence and top-notch customer experience are instrumental parts of NBK’s culture. We depend on the extensive experience gained over long decades to understand customers’ needs, evaluate their goals, and even exceed their expectations, he noted.

On his part, Hussam Ibrahim, Senior Vice President at X-cite, mentioned, “We consider our partnership with National Bank of Kuwait as a strategic and innovative step in the world of e-commerce and banking arenas. This partnership is not just a commercial alliance, but rather a bridge linking cutting-edge technology and top-notch banking services, reflecting our mutual dedication to create an impeccable customer experience.”

“Through this cooperation, we seek to create an interactive system that allows NBK KWT Visa Infinite Credit Cardholders to avail exceptional offers and exclusive technological benefits that resonate with their dynamic lifestyle. We believe that this partnership will strengthen our position as a leading tech company and enable us to provide innovative solutions that go beyond our customers’ expectations,” he added.

The most popular credit card in Kuwait

NBK KWT Visa Infinite Credit Card is the most popular credit card in Kuwait, as it offers customers a unique lifestyle with exceptional rewards, benefits and offers tailored to meet customers’ needs and expectations, and cashback up to KD 1,000 in NBK KWT Points every month.

The card combines an exclusive package of exceptional rewards with a design inspiring national pride, making it a card like no other, and gives customers the flexibility to choose the way they want to earn rewards based on their lifestyle; either the “Spends Tier” or “Merchant Category” option.

When choosing the “Merchant Category”, customers can earn NBK KWT Points on all payments made using NBK KWT Visa Infinite Credit Card at the selected categories, with 10% on dining and telecom, 5% on fitness and beauty and 3% on clothing, grocery and education.

Meanwhile, when choosing the “Spends Tier” earning option, based on their monthly spends, with up to 5% on digital payments, up to 5% on international POS and up to 3% on all other spends.

The earned NBK KWT Points can be redeemed through NBK Online or Mobile Banking whether as cashback directly to the card, travel booking at more than 800 airlines and 150,000 hotels, e-vouchers from over 190 merchants, or points exchange with most preferred airlines.

NBK Visa Credit Cards offer the best payment method for the convenience and benefits they provide to customers, especially when using them in shopping including NBK Rewards Program as well as Purchase Protection and Extended Warranty.