News & Announcements

Kuwait: NBK Launches “NBK Tech Academy”

Demonstrating its unwavering commitment to investing in the human capital, National Bank of Kuwait (NBK) greatly focuses on providing the Kuwaiti youth with the best-in-class and most advanced training programs as per the highest international standards. In this context, the bank has launched the first wave of its new NBK Tech Academy.

NBK Tech Academy is one of its kind. It is the first of its kind Academy, focusing on digital and data technologies. It is a professional training program to prepare and qualify young Kuwaiti talents to join the banking sector. NBK Academy was established in 2008, and after 28 successful waves and more than 190 active graduates, NBK Tech Academy was established due to the growing need for talents in the tech areas of the bank.

The opening ceremony of the new trainees was attended by Mr. Isam Al-Sager, Vice-Chairman and Group CEO of National Bank of Kuwait, Ms. Shaikha Al-Bahar, Deputy Group CEO of NBK and Mr. Salah Al-Fulaij, CEO of NBK-Kuwait. The attendees also included Mr. Faisal A. Al-Hamad, CEO - Global Wealth Management, 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 – Group Human Resources.

The program runs for 6 months until March 2024, with 10 participants receiving 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.

Talents are fresh Kuwaiti university graduates, with up to 4 years of experience, a high GPA, holding a degree in in MIS, Information Security, Data Science, Computer Science, and Engineering.

On this occasion, Najla Al-Sager, Head of Talent Management, Group Human Resources at National Bank of Kuwait, said: “We are proud to launch NBK Tech Academy, which aligns with the growing demands for digital talents and skills. Through the Academy, we aim to qualify the next generation of professionals to lead the technological advancement and innovation in NBK.”

“The new NBK Tech Academy reflects NBK’s vision to keep up with the growing needs and demands of the digital era, and its keen endeavors to nurture and develop highly-skilled talents in areas like MIS, Information Security, Data Science, and Computer Science,” she noted.

“NBK has unwavering dedication to driving innovation, which is reflected in launching this academy as a milestone on this way of nurturing Kuwaiti talent and preparing a new generation of digital professionals,” she added.

On her part, Gadeer Al-Kooheji, Head of Talent Acquisition, Group Human Resources at National Bank of Kuwait said: “Launching NBK Tech Academy for selected high-caliber young candidates in technical and digital fields aligns with the strategy of Group Human Resources’ Talent Acquisition Department, which aims to attract top-notch talent to support the bank’s accelerating digital growth.”

“The Academy will provide fresh graduates, as well as experienced candidates, in technical domains with high-level training and development opportunities, and actively contribute in shaping the future of banking and digital services, propelling Kuwait to new horizons in banking innovation,” she mentioned.

Delivering on its CSR commitments towards the youth, NBK provides young national talent from students and fresh graduates a variety of training programs to empower them with professional knowledge and expertise and practical training, in preparation to join the banking business.

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.

Kuwait: NBK Celebrates Graduation of Moody’s Credit Certificate Trainees

National Bank of Kuwait (NBK) proudly celebrated the graduation of its third cohort of trainees from the prestigious "Moody's Credit Certificates-2024" program. Organized in collaboration with the renowned global credit rating agency Moody's, this initiative underscores NBK's commitment to enhancing employee skills and elevating workforce quality.

This initiative aligns with NBK's strategic commitment to developing and enhancing workforce capabilities across the Group by designing and implementing targeted training programs, workshops, and educational initiatives aimed at elevating employee skills and competencies.

The five-month program encompassed comprehensive modules on credit analysis, credit structuring, documentation, relationship management excellence, negotiation strategies, effective planning and implementation techniques, as well as advanced credit masterclass, ESG and business strategy

Approximately 55 trainees participated in the program, divided into three groups at intermediate and advanced levels. Participants represented various departments across the bank, including the Consumer Banking Group, Risk Management Group, Private Banking Group, Corporate Banking Group, International Banking Group, and the  Foreign Corporate, Oil and Trade Finance Group.

On this occasion, Najla Al-Sager, Head of Talent Management, Group Human Resources at National Bank of Kuwait, said: “We are delighted to celebrate the graduation of a new cohort from the Moody's Credit Certificate Program. This initiative underscores the bank's commitment to fostering a culture of excellence and investing in human capital, while preparing qualified banking leaders in line with the highest international standards.”

“Over the years, we have significantly enhanced the program's content to align with evolving industry demands and trends. The program’s duration has been extended from two months to five months, incorporating approximately a month of in-class training and around 23 hours of e-learning courses. Additionally, we have integrated workshops focused on the practical application of skills throughout the program to further enrich the trainees' knowledge and capabilities,” she added.

“We firmly believe that investing in our employees is a key strategic pillar for achieving sustainable growth and maintaining the bank's excellence and leadership. To this end, we are continuously committed to providing the best training and development programs in collaboration with renowned international institutions. Our goal is to build a flexible and dynamic workforce capable of adapting to future challenges and the ever-evolving banking landscape,” she emphasized. 

“We have a comprehensive plan designed to enhance the efficiency of our workforce. We are committed to continuously preparing our employees to navigate the challenges brought about by the evolving dynamics of the banking sector. By equipping them with the necessary tools and knowledge, we ensure their ability to drive ongoing success, maintain the bank's excellence, and uphold our position at the forefront of innovation and competitiveness,” she highlighted. 

Furthermore, Al-Sager stressed that NBK dedicates all its extensive resources to developing its human capital, enhancing the capabilities of its employees, and equipping them with the expertise and skills required to drive the bank's growth. This commitment plays a crucial role in building a highly skilled workforce that supports NBK's long-term objectives and strengthens the sustainability initiatives it champions.

The training partnership with Moody's embodies the bank's strategic plans to establish solid foundations for the professional development of NBK Group’s employees. By collaborating with renowned universities and prestigious international educational institutions, this initiative aims to cultivate future banking leaders, equipping them with the expertise and experience necessary to tackle the evolving challenges of the banking industry.

Kuwait: Al-Sager: NBK Achieved Record Profits, Leveraging a Strategic Expansion

Mr. Isam Al-Sager, Vice Chairman and Group Chief Executive Officer of National Bank of Kuwait (NBK), announced that the Group achieved a record net profit of KD 600.1 million for 2024, marking its highest-ever annual performance. He credited the 7% profit increase compared to the previous year to the Group's exceptional operating performance and the ongoing expansion of its diversified business model.

In an interview with CNBC Arabia, Al-Sager attributed the robust net profit performance to increased business volume and the relatively high average interest rates throughout much of 2024, compared to 2023. He also highlighted the strong performance of fees and FX income across various business sectors and regions where the Group operates.

Al-Sager explained that in 2024, NBK Group saw an 8.3% year-on-year growth in net interest income, while operating income rose by 7.2% to KD 1.3 billion. He attributed this positive performance to the strong growth in the Group's loan portfolio, which expanded by 6.4% compared to 2023. This growth was seen across both domestic and international markets, encompassing both conventional and Islamic banking services.

“We have consistently upheld healthy levels of cost of risk, primarily driven by a 16% decrease in provisions for credit provisions and other impairments in 2024. The Group remains committed to its prudent approach in managing credit exposure,” Al-Sager noted.

International Operations & Wealth Management

Al-Sager highlighted the strong performance of NBK Group's international operations and wealth management, emphasizing the Group's distinctive advantage among Kuwaiti banks. He noted the strategic geographical spread through international banking services, along with the ability to conduct business in both Conventional and Islamic Banking.

He further noted that in 2024, the International Banking Group (IBG) contributed 24% of the Group’s net operating income and 23% of its profits, underscoring the robust performance across these segments. 

Additionally, NBK Wealth contributed 9% to operating income and 11% to profits, reinforcing the effectiveness of the Group’s strategic diversification efforts.

The Future Outlook

Al-Sager conveyed a confident outlook for NBK's performance in 2025, driven by several pivotal factors. He underscored the influence of monetary and fiscal policies, notably the anticipated gradual pace of interest rate cuts, which are poised to support margins. Furthermore, he emphasized the ongoing momentum in projects award in Kuwait and the favorable climate for the enactment of several crucial economic laws, all of which are anticipated to further bolster the local operating environment.

Interest Rate Trajectory and Margin Impact

In response to a question about interest rates and their impact on margins, Al-Sager stated, “With uncertainty surrounding the scale of future rate cuts, intensifying competition, and a challenging global operating landscape, we anticipate some pressure on margins. Consequently, we expect net margins in 2025 to edge slightly lower, by a few basis points, compared to year-end 2024 levels.”

“However, it is important to consider that the expansion in business activity driven by a low-interest-rate environment could help offset margin pressures. With a well-diversified business model and an increased focus on fee-based income, we continuously hedge against interest rate fluctuations, ensuring resilience in varying market conditions,” Al-Sager explained.

Market Consolidation and Its Implications

Assessing the impact of ongoing mergers in the Kuwaiti banking sector, Al-Sager stated: “As one of the largest banks in the region, NBK is well accustomed to operating in highly competitive markets. However, these dynamics do not impose any pressure on us, as we remain steadfast in pursuing our strategic objectives.”

“We are years ahead of the current wave of mergers, having successfully expanded through strategic acquisitions in earlier growth phases. These expansions strengthened our business diversification and service integration. Today, we are capitalizing on the success of our expansion strategy, having mitigated the risks of business consolidation and sharpened our focus on delivering exceptional services across all the markets in which we operate,” he added.

Al-Sager emphasized that banking mergers are often followed by challenges that can provide NBK with opportunities to seize.

He further emphasized NBK Group’s commitment to expanding its presence in regional markets, reaffirming its readiness to pursue acquisition opportunities that strengthen service integration and drive added value for shareholders.

Projects Award

Commenting on the projects market in Kuwait, Al-Sager expressed optimism due to the strong activity in the market, noting that the awarding of development projects by the end of 2024 reached its highest level in nearly eight years. He anticipates this momentum to persist into 2025.

He emphasized the widespread consensus on the importance of prioritizing major development projects and enhancing Kuwait's appeal as an investment hub. This includes the urgent need to approve a set of long-awaited laws that would align with and support ongoing economic reform efforts.

“With decision-making now solely in the hands of the government, we no longer face the disruptive entanglements of the past, and this will positively impact the anticipated economic reforms,” Al-Sager noted.

“We are witnessing meaningful discussions on the adoption of key laws, such as the real estate financing and public debt laws. The enactment of these laws would serve as a crucial catalyst, driving the Kuwaiti economy toward smoother and faster growth,” He stated.

Multinational Corporate Tax

Commenting on Kuwait's recent enactment of the Domestic Minimum Top-Up Taxes (DMTT) on multinational enterprises (MNEs), effective 2025, Al-Sager explained that this corporate tax follows a global standard already in place in many countries where NBK Group operates. He emphasized that its local implementation would benefit Kuwait by ensuring these revenues stay within the country, rather than flowing to other nations.

In response to a question regarding the potential impact of the tax implementation on the bank’s profits, Al-Sager stated: “Naturally, there will be an impact on our profits in 2025, with an anticipated increase in the tax applied to the Group’s profits by approximately 8 to 15%. However, this impact is expected to be temporary, as the base year 2025 marks the introduction of the tax.”

Real Estate Financing Law

Commenting on the Real Estate Financing law, Al-Sager stated: “We view the real estate financing law, or housing finance, as the most effective practical solution to Kuwait's housing crisis. With over 97,000 pending housing applications at the Public Authority for Housing Welfare and approximately 10,000 new applications each year, this issue has only intensified without any tangible resolution.”

He highlighted the recent positive developments supporting the adoption of the law, noting that this comes at a time when the government has clearly stated that refinancing Kuwait Credit Bank is challenging due to the anticipated ongoing budget deficit. He also emphasized that the Kuwaiti banking system is in an excellent position, with high levels of liquidity and capitalization, and is well-equipped to play a crucial role in addressing the housing issue.

Al-Sager expressed strong confidence that the right legislative and regulatory framework will empower banks to take a central role in resolving the housing crisis, using financing mechanisms akin to those in neighboring markets. He highlighted this as a major growth opportunity for Kuwaiti banks, especially given the substantial backlog of housing applications and the steady influx of new applicants each year. Additionally, he pointed out that Kuwait's youth demographic, which makes up the majority of the population, adds urgency to the need for effective solutions.

Kuwait: NBK Successfully Completes Training Program for Students with Special Needs at Dasman Bilingual School

National Bank of Kuwait (NBK) announced the successful completion of a training program in 2024 for students with special needs at Dasman Bilingual School. The initiative aimed to inspire and empower students by offering them hands-on training and the opportunity to gain valuable insights into the banking sector.

The two-week program, held within the local branches department, was meticulously designed to provide participants with an in-depth understanding of bank branch operations, including key banking mechanisms and operational procedures. Beyond this, the program created an inclusive and nurturing environment for students with special needs, offering them valuable real-world insights and the opportunity to develop essential skills. This experience not only broadened their knowledge but also enhanced their preparedness for future success in an ever-evolving labor market. 

The program saw active participation from students in a range of carefully curated activities and tasks, designed to align with their abilities and interests. This hands-on approach allowed them to gain valuable practical experience in managing the Bank's local branches. 

Throughout the program, the NBK team collaborated closely with the students, offering consistent guidance and support to ensure a comprehensive learning experience. This approach aimed to deepen their understanding of the banking industry while fostering their confidence and adaptability within a professional work environment.

The participating students from Dasman Bilingual School visited the bank to receive their certificates of completion for the training course. The ceremony, attended by members of the executive management, celebrated the students’ enthusiasm, determination, and notable progress throughout the program.

Marking this special occasion, Gadeer Al-Kooheji, Head of Talent Acquisition - Group Human Resources at National Bank of Kuwait said: “We take immense pride in hosting students with special needs from Dasman Bilingual School, providing them with opportunities to learn, grow, and gain valuable skills that support their future career aspirations.” 

She emphasized that NBK takes the lead in supporting individuals with special needs by continually enhancing its services and equipping select branches with the necessary tools to ensure accessibility. This includes ATMs fitted with Braille keyboards and earphones, enabling customers with visual impairments to independently access banking services, such as cash withdrawals. 

“We strongly believe in the potential of every individual in our community. This program underscores our commitment to fostering inclusivity and creating equal opportunities for all segments of society, particularly those who hold a special place in our hearts,” she added. 

she highlighted that NBK is the first bank in Kuwait to assign employees across all its branches to offer services in sign language for customers with hearing disabilities. Additionally, the bank provides iPads equipped with speech-to-text features for customers with visual impairments and offers wheelchairs to facilitate branch access. Dedicated parking spaces with clear, designated signage for people with special needs further reinforce NBK's commitment to accessibility and inclusion. 

The bank also implements a dedicated policy for employing individuals with special needs, in collaboration with the Public Authority for Disability Affairs and the Public Authority for Manpower. This initiative reflects NBK's commitment to fostering an inclusive workplace and empowering individuals of all abilities to contribute meaningfully to the workforce.

Kuwait: NBK Launches Real Estate Financing Services in Germany

In a strategic move to strengthen its presence in international markets and elevate its global banking offerings, National Bank of Kuwait (NBK) has unveiled its mortgage services in Germany. This initiative enables NBK customers to access bespoke mortgage solutions and premium services tailored to meet their investment aspirations in key global real estate markets, including the UK, France, Spain, Portugal, Germany and UAE.

This initiative aligns with the Group's ongoing efforts to bolster its presence in real estate financing services on both regional and global fronts. Leveraging its extensive network of international branches, its prominent position in some of the world's most sought-after real estate markets, and the unparalleled trust it commands in Kuwait, the region, and beyond, NBK continues to strengthen its role as a leading financial institution in this dynamic sector.

NBK’s international mortgage services offer unparalleled convenience and efficiency, allowing customers to finalize purchases, investments, and all related transactions locally in Kuwait without the need for travel. These services are facilitated through the International Mortgage Loan Center at NBK’s headquarters—the first of its kind in Kuwait—along with dedicated support at the Ras Al-Salmiya,and Surra branches.

NBK’s international mortgage services offer customers competitive interest rates, flexible repayment terms and high loan amount. In Germany, loans cover up to 65% of the property value and loan tenor up to 20 years. These features are designed to empower customers and investors, enabling them to own properties in key financial and business hubs around the world, while efficiently achieving their financial and investment goals.

NBK’s expansion underscores its dedication to meeting the evolving needs of its customers globally, and its commitment to offering a range of mortgage financing options that cater to their individual preferences. 

Beyond just real estate financing, NBK brings over 40 years of experience in international markets to help investors navigate foreign real estate opportunities. This includes providing expert advice, legal and procedural support through partnerships with local legal experts and offering real estate expenses and property management services in select countries.

Leveraging its extensive branch network spanning 13 countries, including Kuwait, NBK delivers international real estate services backed by a deep understanding of diverse market needs, fostering greater customer confidence. Moreover, NBK remains committed to integrating the latest technologies into its services to streamline the financing process and ensure quick and efficient implementation.

The bank continues to expand its real estate financing services in international markets, paving the way for its customers to discover investment opportunities in various promising real estate markets.

Furthermore, the Group’s network of overseas branches, spanning key financial and business capitals, is committed to offering top-tier products and services that empower customers to manage their personal and business needs with efficiency and ease. This extensive network brings a wide array of banking services, investment opportunities, and financing solutions directly to their fingertips, enabling seamless access to the most significant regional and global markets from Kuwait.

Kuwait: NBK Reports Net Profit of KD 600.1 Million for FY2024

National Bank of Kuwait (NBK) has announced its financial results for the financial year ended 31 December 2024.The Bank reported a net profit of KD 600.1 million (USD 1.9 billion), compared to KD 560.6 million (USD 1.8 billion) for the financial year 2023, an increase of 7.0% year-on-year.

Earnings per share (EPS) stood at 69 fils by the end of 2024, compared to 65 fils by the end of 2023, Meanwhile, total assets as of December 2024 grew by 7.1% year-on-year, reaching KD 40.3 billion (USD 130.9 billion).

Customer deposits grew by 4.2%, totaling KD 22.9 billion (USD 74.2 billion) as of December 2024. Meanwhile, Group loans and advances reached KD 23.7 billion (USD 76.9 billion) by December 2024, reflecting a growth of 6.4% year-on-year.

In the meantime, shareholders' equity also saw an increase, standing at KD 3.9 billion (USD 12.7 billion), up by 5.9% year-on-year.

In terms of distributions, the Board of Directors has proposed a cash dividend of 25 fils per share for the second half of 2024, bringing the total cash dividend for the year to 35 fils, equivalent to around 50% of net profits. Furthermore, the Board has recommended the distribution of bonus shares at a ratio of 5%. These proposed distributions are subject to the approval at the Annual General Assembly (AGM).

Adapting To Changing Conditions

Commenting on the bank's annual financial results, Hamad Al-Bahar, NBK Group Chairman stated, “In 2024, we delivered strong performance, showcasing the resilience and adaptability of our flexible, diversified business model in response to varying economic conditions. This success was bolstered by a robust capital base, high asset quality, strong liquidity, and prudent risk management.”

He explained that the bank remains committed to balancing the achievement of optimal returns for its shareholders while addressing the evolving needs of its customers. He further emphasized that sustainability has become a key driver in strengthening the bank's long-term growth prospects, as it continues to implement significant initiatives that support responsible business practices and contribute to the sustainable development of Kuwait’s economy.

"In 2025, NBK aims to accelerate its sustainable financing efforts, targeting a sustainable asset portfolio of approximately USD 10 billion by 2030," stated Al-Bahar. He further highlighted that the bank continues to implement various initiatives as part of its efforts to achieve carbon neutrality.

 Al-Bahar stated that throughout 2024, NBK strengthened its social contributions by launching and supporting numerous programs and initiatives across various sectors, including health, social development, the environment, youth, education, and women's empowerment. These efforts are aimed at reinforcing the foundations of sustainable development in alignment with Kuwait Vision 2035 and the National Development Plan (NDP), further advancing NBK's leading position as the largest contributor to social responsibility in Kuwait.

Sustainable Growth

Meanwhile, Mr. Isam J. Al-Sager, NBK Vice Chairman and Group CEO, said: “Despite heightened geopolitical tensions regionally and globally in 2024, along with their adverse economic repercussions and the onset of declining interest rates, NBK successfully maintained its trajectory of sustainable growth. The Group's net operating income grew by 7.2% year-on-year, reaching KD 1.3 billion (USD 4.1 billion)”. 

Al-Sager emphasized that NBK's financial results for 2024 reflect exceptional operational performance across its various business sectors, particularly its core banking operations. He highlighted the significant contributions of the Group's international operations and Boubyan Bank, the Group's Islamic banking arm, to both revenues and net profits during the year.

Al-Sager highlighted NBK's ongoing efforts to expand its customer base by offering innovative digital products and services of international standards, coupled with exceptional customer service. He emphasized the bank's continued investments in technology and innovation, reinforcing its leadership in digital banking solutions that drive sustainable growth. These efforts not only maximize value for customers and shareholders but also contribute positively to our communities and to all stakeholders. This commitment has earned the bank numerous prestigious accolades, including being named the “Best in Innovation- Global Winner” for 2024, for the second consecutive year by Global Finance magazine.

Al-Sager emphasized that NBK Group is dedicated to further advancing its reputation as a trusted financial partner by fostering deeper relationships with existing customers and capitalizing on emerging opportunities. He highlighted the Group’s commitment to reinforcing its leadership in investment and wealth management services across the region, noting the launch of the "NBK Wealth" brand in 2024, which has established the largest wealth management entity in Kuwait and positioned it among the leading providers in the region.

Al-Sager highlighted NBK’s significant advancements in sustainability during 2024, emphasizing the bank's commitment to its ESG strategy, which underscores its leading role in shaping a more sustainable and prosperous future for all. He noted that NBK was the first bank in Kuwait to join the Partnership for Carbon Accounting Financials (PCAF) and achieved a major milestone by issuing Kuwait’s first green bonds, valued at USD 500 million, solidifying its position as a trailblazer among financial institutions in the country. 

In the meantime, Al-Sager emphasized NBK’s unwavering commitment to investing in human capital, highlighting that in 2024, the bank continued to attract and nurture young talent through top-tier training and development programs aligned with international standards. These initiatives aim to cultivate a highly skilled generation of banking professionals, with a particular focus on digital competencies that have become indispensable in the evolving landscape of banking transactions driven by advanced technology and artificial intelligence.

Operational Environment

Regarding his outlook for the operational environment in 2025, Al-Sager expressed optimism about the continued momentum in project awards, building on the progress achieved in 2024 amid political stability. 

He noted that with decision-making now centralized within the government, processes have become more streamlined and efficient. Al-Sager also expressed hope that this positive trajectory would be complemented by the enactment of key laws and legislations aimed to bolster domestic economic growth.

Al-Sager emphasized that NBK aims to play a pivotal role in financing upcoming mega projects, further solidifying its position as the government’s primary partner in funding major strategic initiatives. He highlighted that the anticipated improvement in project awards, coupled with the downward trajectory of interest rates, is expected to positively impact credit demand across both corporate and retail sectors. 

However, he acknowledged the persistence of certain challenges that could have adverse economic repercussions, particularly the ongoing geopolitical tensions at both regional and global levels.

Key financial indicators for FY2024

• Net operating income stood at KD 1.3 billion (USD 4.1 billion), up 7.2% year-on-year

• Total assets grew by 7.1% year-on-year, at KD 40.3 billion (USD 130.9 billion)

• Total loans and advances increased by 6.4% year-on-year to KD 23.7 billion (USD 76.9 billion)

• Customer deposits grew by 4.2% year-on-year to KD 22.9 billion (USD 74.2 billion)

• Shareholders’ equity amounted to KD 3.9 billion (USD 12.7 billion), registering an annual growth of 5.9%.

• Strong asset quality metrics, with NPL/gross loans ratio at 1.34% and an NPL coverage ratio of 263%

• Robust Capital Adequacy Ratio of 17.3%, comfortably exceeding regulatory requirements.   

Kuwait: NBK and Alshaya Group Launch Exclusive Collaboration with Mastercard

In a groundbreaking collaboration with Alshaya Group, a global leader in retail brand management and operations, National Bank of Kuwait (NBK) proudly unveiled the NBK Aura World Mastercard Credit Card and the NBK Aura Platinum Mastercard Prepaid Card.

The announcement was made during a special event at NBK's headquarters, attended by Salah Al-Fulaij, CEO of NBK Kuwait, Mohammed Al-Othman, Chief Executive Officer of Consumer and Digital Banking at NBK, John Hadden, CEO of Alshaya Group, and Jihad Khalil, Mastercard's General Manager for MENA East Custer. The event also saw the presence of senior executives from NBK, Alshaya, and Mastercard.

The launch of these cards follows NBK’s recent exclusive partnership agreement with Alshaya Group, reaffirming the bank's commitment to delivering exceptional benefits to its customers. This initiative underscores NBK’s leadership and dedication to introducing innovative and distinctive offerings.

The two new cards enable NBK customers to earn up to 8% in Aura points on their purchases, offering a seamless experience for redeeming rewards through the customer’s Aura application account. These points can be redeemed at over 50 iconic brands across fashion, beauty, dining, and more, such as H&M, Bath&Body Works, Footlocker, Shake Shack, Raisin Cane’s, Charlotte Tilbury, and Harvey Nichols. The application provides customers with the flexibility to manage and redeem their points, enabling them to shop and pay directly at participating stores using their earned rewards. This exclusive program includes a wide array of globally recognized brands managed and operated by Alshaya Group, ensuring unparalleled value and choice.

Both cards also grant holders exclusive Mastercard benefits, including complimentary access to numerous airport lounges worldwide, free travel insurance, travel discounts, and a host of additional perks.

Reflecting on this collaboration, Mr. Mohammed Al-Othman, CEO, Consumer and Digital Banking Group at NBK remarked, “We are thrilled to see the result of 18 months of dedicated collaboration with our partners at Alshaya Group. Our goal was to create a groundbreaking product that delivers maximum value to both NBK and Alshaya Group's customers, in partnership with Mastercard.”

Al-Othman also emphasized that the launch of these cards marks the first collaboration between NBK and Alshaya Group following their recent exclusive partnership agreement. He further highlighted that NBK consistently seeks to forge strategic partnerships with leading companies across various sectors, aiming to provide its customers with exceptional offers and benefits that not only meet their needs but also exceed their expectations, enhancing their overall banking experience with NBK.

Meanwhile, Mr. John Hadden, CEO at Alshaya Group said, “We are excited to announce this new partnership today with NBK, has a trusted and strong partner of Alshaya throughout our 40-year journey of growth.

This announcement marks the next evolution in this longstanding relationship with NBK, as well as the beginning of a new collaboration with Mastercard, with a shared focus on enhancing customer experience and financial services. We are particularly proud that Kuwait is the first country to launch this innovative collaboration, built upon Alshaya’s Aura loyalty program, which already has 8.5 million members, with 1.6 million of those members based in Kuwait alone."

NBK is committed to offering rewarding deals and exclusive value-added benefits to customers across all segments, reinforcing its leading position in both the local and regional banking sectors. Meanwhile, Alshaya Group manages a vast portfolio of renowned brands across the Middle East, North Africa, Turkey, and Europe, providing customers with access to some of the world's most famous brands through a network of thousands of stores, restaurants, cafes, entertainment venues, and more than 125 e-commerce and digital platforms.

Kuwait: NBK Wraps Up Participation in KFAS Innovation Challenge

The National Bank of Kuwait (NBK) team successfully concluded its participation in the Innovation Challenge Program, organized by Kuwait Foundation for the Advancement of Sciences (KFAS) in collaboration with IE Business School, Madrid. Spanning three months, the program commenced with an introduction to the fundamentals of creativity and innovation, followed by an in-depth focus on a real-world innovation project. The initiative also included a field visit to the IE Business School campus in Madrid, Spain, enriching the participants' experience.

As part of the program, the NBK team presented their project, which focused on an innovative banking service. The project was reviewed and discussed with the bank’s senior management, including Mr. Salah Al-Fulaij, CEO of NBK – Kuwait, Mr. Mohammed Al-Othman, CEO of Consumer and Digital Banking Group; Mr. Mohammad Al Kharafi COO - Head of Group Operations and Information Technology; Mr. Emad Al-Ablani General Manager, Head of Group Human Resources Mr. Faisal Al-Fulaij Head of Business Banking; and other esteemed executives from the bank.

The program covered various key aspects, including the successful implementation of innovative initiatives, the innovative planning process, impact measurement, and the design of valuable propositions. 

Additionally, several workshops on innovation leadership were conducted. The program featured intense competition among participating teams, as participants spent three months engaged in training, education, and exploring strategies to drive meaningful change within their organizations by presenting innovative ideas.

Launched by Kuwait Foundation for the Advancement of Sciences (KFAS) in 2015, the program aims to cultivate innovative human capabilities within the private sector. It seeks to foster a culture of creativity and knowledge-driven growth, aligning with efforts to transition Kuwait's economy into a knowledge-based model.

The Kuwait Foundation for the Advancement of Sciences (KFAS) Innovation Challenge Program stands out as one of the most prestigious executive education initiatives. Through collaboration with IE Business School in Madrid, a select group of companies engages in developing new initiatives and projects aimed at fostering a culture of innovation within their organizations.

On this occasion, Maryam Al-Nasrallah, Talent Management Manager, Group Human Resources at National Bank of Kuwait, said: “We strongly believe in the importance of fostering a culture of innovation and creativity. As such, we remain committed to launching and supporting pioneering initiatives across various fields and sectors while collaborating with state institutions and strategic partners to create a positive social impact and cultivate an inspiring environment for the next generation.”

Al-Nasrallah further added: “Our involvement in this pioneering program underscores our unwavering commitment to fostering innovation and knowledge. We are dedicated to encouraging young researchers to deliver innovative solutions that benefit both society and the economy. The bank’s strategy is firmly rooted in innovation and continuous development, a commitment that has been demonstrated through our leadership in the banking sector, positioning us at the forefront both locally and regionally.”

Al-Nasrallah emphasized that NBK will persist in its efforts to develop society and foster an environment that encourages creativity and innovation. This will be achieved through ongoing participation in various programs and initiatives designed to cultivate highly skilled national talent. He highlighted that Kuwaiti youth possess untapped potential and capabilities, and with the right guidance, they can contribute significantly to the sustainable development journey.

Furthermore, She praised KFAS for its pivotal role in enhancing and promoting investment in technology and innovation. He emphasized the Foundation's commitment to learning from global experiences and utilizing leading professional and academic expertise from around the world.

NBK places significant emphasis on the development of its human resources, recognizing them as the cornerstone of the bank's excellence and leadership. The bank offers top-tier specialized training programs that adhere to the highest international standards, ensuring that its professional talent is equipped to take on future leadership roles.

Kuwait: NBK Hosts Panel Discussion for School Principals Participating in the Bankee Program

National Bank of Kuwait (NBK) hosted a panel discussion with some principals of public schools participating in the Bankee Program. The session provided a platform for knowledge exchange, allowing the participants to share their insights and suggestions for the program's development. The discussion also focused on assessing how school administrations have benefited from the program and its overall impact on students.

Bankee, a pioneering program in Kuwait, is offered by NBK in collaboration with the Ministry of Education and Kuwait Anti-Corruption Authority "Nazaha". The program aims to introduce students to fundamental economic concepts and practices, including earning, spending, saving, and managing financial obligations.

The program also strives to instill core values in students, including honesty, integrity, personal development, responsibility, cooperation, and teamwork. It aims to raise a generation of Kuwaiti youth who recognize the significance of financial stability and independence, equipping them with the financial knowledge and skills essential for contributing to the sustainable development and economic well-being of both individuals and society.

During the meeting, participating school principals exchanged experiences and ideas on how to further develop the program and maximize its benefits for both schools and students. The importance of maintaining ongoing communication between the bank and schools was also emphasized, with a focus on continuously sharing perspectives and innovative ideas throughout the year.

The school principals expressed their gratitude for NBK's commitment to supporting education and promoting positive values among younger generations. They highlighted the significant impact of the Bankee Program in enhancing students' skills, behaviors, and financial literacy.

On this occasion, Manal Al Mattar, Deputy General Manager & Head of Group Corporate Communications at NBK stated, “This meeting reflects NBK's commitment to fostering productive collaboration with all state institutions to drive societal development and enhance human resources, which are the cornerstone of growth and prosperity. We are particularly focused on education, and the bank is dedicated to providing comprehensive support to its advancement.”

“The program has achieved remarkable success over the past year, leading many schools to apply for participation. This success can be attributed to its unique program design and its positive impact on students' behaviors, equipping them with essential skills for managing their financial affairs. Furthermore, there has been a notable improvement in their financial literacy following the program's implementation in their schools,” she added.

“As part of our commitment to enhancing the Bankee Program's content, we have launched dedicated accounts on various social media platforms, including Instagram, TikTok, and YouTube. These platforms allow all participants to access valuable content, activities, and events from schools throughout the year. Additionally, the program's website has been launched in both Arabic and English to further expand its reach and impact,” she emphasised. 

She emphasized that the visits by the bank's executive management to schools and their follow-up on the program's implementation played a crucial role in enhancing its significance. These visits were marked by the strong presence of parents, who expressed immense satisfaction with the positive changes they observed in their children's behavior and financial awareness.

Meanwhile, Eng. Abrar Al-Hamad, Assistant Secretary General at Nazaha, emphasized that the outstanding success of the Bankee Program reflects the effectiveness of initiatives aimed at embedding principles of integrity and transparency within educational frameworks. She underscored that cultivating awareness of ethical values and fostering societal protection aligns with Nazaha's core mission, particularly in safeguarding public funds.

Sumayah Al-Jasem, General Manager and Founder of Creative Confidence, highlighted the Bankee Program's evolution into a success story that resonates beyond Kuwait's borders. She attributed this achievement to the program’s innovative approach, which integrates realistic economic simulations with practical methodologies in an interactive learning environment. As a pioneering initiative, Bankee is dedicated to advancing financial inclusion, particularly among school students, while fostering enhanced financial literacy across the broader community.

Positive Impact

Abeer Al-Gharibi, the principal of Amoria Primary School, expressed her immense satisfaction with the meeting, which brought together a distinguished group of school principals. She noted that the gathering provided an excellent opportunity for exchanging experiences and ideas about the Bankee Program. According to Al-Gharibi, the program has exceeded expectations, leaving a clear and positive impact on students' behavior while instilling valuable values in the younger generation.

In the meantime, Zainab Bahro, the principal of Sharifa Al Qatami Primary School, praised the Bankee program, describing it as a wonderful initiative that quickly garnered widespread admiration. She highlighted the clear and positive impact it had on the behavior of both teachers and students. Additionally, Bahro noted that the program received extensive praise from parents, who observed significant improvements in their children's behavior.

Promoting Financial Literacy

Ghadeer Al-Muhanna, Principal of Al-Fadl Bin Al-Abbas Elementary School, expressed the value of the meeting, stating, “This gathering proved highly beneficial, as it provided an opportunity to meet with key figures behind the project and its participants. We were able to present our suggestions on how to further develop the program and maximize its potential to enhance financial literacy among students.”

Meanwhile, Laila Al-Sayegh, Director of Shaikhan Al-Farsi School, highlighted the significance of the meeting, stating, “The enthusiasm demonstrated by the participants and those responsible for the program reflects its importance, remarkable success, and its clear impact in enhancing financial literacy among students and improving their behavior. Our goal is to prepare an economically educated generation, aligning with the Ministry of Education's vision for a prosperous future for Kuwait and its people.”

Engaging participation

Khazna Mutlaq Al-Otaibi, Principal of Aisha Al-Sharif Primary School, emphasized that the success of the Bankee Program motivated their decision to join its second season. She praised the program's profound impact on both teachers and students, especially in fostering a deeper understanding of financial literacy.

In the meantime, Hanai Al-Muqahwi, Principal of Abdullah Khalaf Al-Dahayan Elementary School for Boys, discussed the positive impact of the Bankee Program on students, stating, “The program has enabled us to achieve several objectives, including shaping students' behaviors. The interactive program system, which allows students to engage with a digital platform for conducting financial transactions, combined with a rewards and penalties system, has been effective in promoting a sense of responsibility for their actions.”

At the conclusion of the meeting, the school principals expressed their optimism regarding the future of the Bankee Program. They emphasized the importance of continuing such meetings to strengthen cooperation and align efforts toward achieving the program's educational goals. They also extended their gratitude to NBK for its ongoing efforts and the pivotal role it plays in supporting Kuwait's education system, contributing to the nation's prosperity.

NBK is committed to the significance of initiatives led by the private sector in collaboration with government entities, aimed at equipping young people with the knowledge and skills essential for the well-being and prosperity of both individuals and society in Kuwait.

NBK was awarded the Bronze Award by Qorus in the Environmental, Social, and Corporate Governance (ESG) category for Bankee Program. This recognition highlights the bank's efforts in integrating sustainability and ESG standards into its initiatives.

Kuwait: NBK Welcomes the Second Cohort of NBK Tech Academy

In line with its unwavering commitment to investing in human capital and fostering national talents, National Bank of Kuwait (NBK) proudly welcomed the second cohort of participants to NBK Tech Academy.

The NBK Tech Academy stands as the first of its kind in Kuwait, dedicated to advancing digital technologies and data systems. It features a professional training program designed to equip young national talents with the skills and qualifications needed to excel in the banking sector. 

The Academy's comprehensive 6-month training program offers trainees an intensive curriculum covering a wide range of technical and professional skills essential for advancement in the banking sector. The participants receive intensive training covering a diverse range of critical skills, 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.  

Alongside technical expertise, 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.

Candidates for the Academy were selected based on rigorous criteria, requiring them to be Kuwaiti university graduates with outstanding cumulative GPAs. Eligible applicants must hold degrees in MIS, Information Security, Data Science, Computer Science, or Engineering, with up to four years of professional experience in these fields.

The new trainees will gain hands-on experience across various departments within the Bank, offering them valuable insights into the dynamic nature of the banking sector. Their training will encompass key areas such as the Digital Office, Robotic Process Automation, Information Technology, Weyay Bank, Digital Transformation, and the Data Office. 

On this occasion, Najla Al-Sager, Head of Talent Management, Group Human Resources at National Bank of Kuwait, said: “We recognize the importance of fostering a digital society within the bank, as it plays a crucial role in enhancing our digital capabilities and facilitating interaction with content and events to drive continuous innovation. NBK Tech Academy truly embodies the bank's vision to keep pace with the evolving demands of the digital age and reflects our commitment to nurturing and developing top-tier digital talent.”

“We are not only preparing our workforce to tackle the challenges of the digital age, but also positioning the bank as a leader in technological innovation within the banking industry. The NBK Tech Academy aligns with NBK's strategy to attract national talent, supporting the bank's rapid digital growth, particularly in response to the increasing demand for digital expertise,” she added.  

She also emphasized that the Academy represents NBK's unwavering commitment to fostering innovation and nurturing national talent. It provides both fresh graduates and experienced professionals in technical fields with advanced training and development opportunities. This initiative will play a key role in shaping the future of banking and digital services, driving Kuwait to new heights in banking innovation.

NBK continues to reinforce its dominant position as a leader among private sector institutions, consistently attracting, developing, and honing the skills of national talent for key banking roles. The bank not only boasts the highest employee retention rates but also stands as the most coveted destination for Kuwaiti talent, offering unmatched opportunities for growth and development. In addition, NBK proudly holds the distinction of being the largest employer of national workers within Kuwait's private sector, further underscoring its commitment to fostering local talent and driving economic progress.

Kuwait: Al-Bahar: Empowering Kuwaiti Youth as the Future of the Country’s Growth and Development

During a highly engaging panel discussion, the sixth edition of the Tamakan Program welcomed Ms. Shaikha Al-Bahar, Deputy Group CEO of National Bank of Kuwait. Drawing on her extensive experience in the banking sector, Al-Bahar shared valuable insights and offered Kuwaiti youth practical advice to help them establish successful careers.

First Steps in Banking

Kicking off her speech, Al-Bahar reflected on the early stages of her career in the banking sector. She remarked, “I began my professional journey as an intern at NBK before transitioning to corporate banking, which proved to be an incredible learning experience. Throughout my career, I had the privilege of participating in numerous training programs, both locally and internationally, at esteemed institutions such as Harvard, Stanford, and the Wharton School of Business.”

“I have always had an insatiable appetite for learning, knowledge, and gaining new experiences. I actively participated in numerous workshops and dedicated countless hours to reading, which helped me overcome challenges and address problems in collaboration with my team,” Al-Bahar added.

When asked about her decision to pursue a career in banking, Al-Bahar explained, “I chose to work in this vital sector because it ignited my passion and provided the ideal platform to achieve my goals.”

She emphasized that one of the key strengths of the banking sector lies in its widespread influence across various fields, impacting everyone from individual customers to large corporations and even entire nations. She highlighted the sector's vital role in the national economy, noting that it supports the government’s economic agenda by financing mega projects across multiple sectors. Additionally, she pointed out the significant contribution of banking in the residential sector, helping citizens realize their aspirations of owning their dream home. 

Key Challenges

Reflecting on the major challenges she faced throughout her banking career, Al-Bahar shared, “I encountered numerous challenges, particularly when I began working with international banks and large corporations on significant deals. While it was an incredibly exciting experience, it also placed immense pressure on me to meet deadlines and fulfill obligations on time.”

She emphasized that her success in overcoming these challenges was largely attributed to the support of a highly skilled and diverse team, characterized by exceptional efficiency, commitment, and responsibility. 

The Private Sector 

Al-Bahar pointed out that, in contrast to the public sector, the private sector offers employees the opportunity for faster personal growth. It allows individuals to enhance their skills, gain valuable experience, and learn not only from their colleagues but also from customers. She further emphasized that working in the banking sector provides continuous learning opportunities, exposure to diverse challenges, and access to new markets and customers. Specifically, at NBK, employees benefit from the bank's strong presence not only in the local market but also in regional and global markets.

Furthermore, Al-Bahar offered a set of valuable insights to the participants of the "Tamakan" Program, stating, “I look forward to seeing many of you join the banking sector. However, to achieve this, you must work diligently, be active team members, avoid focusing solely on individual work, and take on responsibility to add value to the sector, which plays a crucial role in Kuwait’s economic development.”

“Teamwork benefits both the employee and the organization they work for. Therefore, always strive to earn the trust of your colleagues, make them believe in your abilities, and instill confidence in your ability to accomplish tasks. Embrace challenges and never yield to obstacles, as they are part of any job. Focus on finding solutions to the problems you encounter by reading and consulting with your managers and experienced colleagues,” Al-Bahar advised. 

Al-Bahar also advised young people entering the workforce to remain committed and ensure that the tasks entrusted to them are completed on time. She emphasized the importance of initiating innovative ideas and demonstrating loyalty to their workplace, as this would enhance managers' trust in the employee. Such dedication, she explained, paves the way for career advancement, offering opportunities for excellence, promotions, and ultimately reaching the top of the career ladder.

Al-Bahar emphasized, “Employees must be deeply passionate about their work, showcasing the ability to complete tasks with quality, timeliness, and innovation.” She encouraged young professionals to embrace any task assigned by their superiors, regardless of its complexity, and to challenge themselves to successfully complete it.

Personal Skills

She noted that finding solutions to the challenges and obstacles encountered in one’s career is one of the most significant hurdles employees encounter. However, being part of a team provides an opportunity to exchange experiences and ideas, enabling the development of solutions to these problems and ultimately achieving success.

Al-Bahar highlighted that employees require two key types of skills: technical skills, which can be acquired through learning, continuous training, and reading, and personal skills, which present a greater challenge. She particularly emphasized the importance of personal skills, especially those that embody leadership qualities.

“Leadership is not something that comes naturally to everyone, but as young professionals at the start of your careers, you must focus on acquiring personal skills that will enable you to play a more influential role in the organizations you will work for in the future. This includes interacting with your team effectively and positively, and always being ready to offer assistance to those in need,” Al-Bahar explained.  

Talent Acquisition

Regarding the qualities NBK seeks when hiring young talent, Al-Bahar stated, “Youth are not only the future and the cornerstone of development in any organisation but in any country. Therefore, NBK is committed to attracting talented Kuwaiti youth, investing in them by providing training and development opportunities, and supporting their career advancement to achieve success. This benefits not only the employee and the organization but also Kuwait as a whole.”

“We are always keen to hire young individuals who are eager to develop their skills and advance to higher positions within the organization. We value those who are committed to growth and aspire to contribute meaningfully, rather than those who are simply looking for a paycheck at the end of the month,” Al-Bahar confirmed.

Al-Bahar emphasized that many Kuwaiti youth are both intelligent and innovative, particularly in the field of technology, aligning perfectly with banks’ needs. She highlighted that NBK remains committed to investing heavily in technology and innovation, as they play a pivotal role in shaping the future of the banking sector.

She stated that the adoption of modern technologies helps reduce operating costs and enhances the quality of services offered to customers, thereby increasing customer satisfaction and ensuring the bank keeps pace with their evolving needs. 

NBK Tech Academy 

Al-Bahar highlighted the Bank's launch of NBK Tech Academy, the first academy in Kuwait dedicated to digital technology and data systems. She remarked, “I was truly impressed to see the creative Kuwaiti youth enrolled in the Academy, particularly those in the field of technology, who possess the potential to play a significant role in shaping the future of the banking sector.”

“Many jobs will disappear due to the technological advancements occurring globally, along with the changes they are driving across all sectors and industries, including banking. However, we rely on these young individuals for their creative thinking, their ability to adapt technology to effectively manage and analyze big data, and to then launch new products and services while improving existing ones to meet the evolving demands of customers,” Al-Bahar explained.

“Data and the ability to manage it has become a discipline in its own right, and no bank can compete in the field of digital banking without possessing a vast database and a team with the necessary skills to analyze that data and conduct market research to stay in tune with changes,” Al-Bahar noted. She also highlighted that NBK has a young and skilled team in the field of data, whose efficiency has allowed the bank to adapt to market changes and maintain its leadership in the banking sector.

Al-Bahar observed that the world may experience a new technological wave within the next 10-15 years. She emphasized the critical need for banks to continuously monitor the market and staying prepared to adapt and respond to any changes or developments in this area.

It is worth noting that Tamakan was honored with "The Social Work Pioneer Project Award" by the GCC Council of Ministers of Social Affairs and Labor. This prestigious accolade recognizes Tamakan as a trailblazing training initiative for Kuwaiti fresh graduates, fostering professional self-development and empowering them to emerge as a dynamic and effective workforce in the region.

NBK’s support for the sixth edition of the "Tamakan" program, aimed at training Kuwaiti university graduates and organized by Creative Confidence, reflects the bank’s commitment to the value of practical experience. The program offers intensive hands-on training to newly graduated national talents, empowering them to transition into an effective and dynamic workforce.

Kuwait: NBK Executive Management Tours New Airport T2 Project

The Executive Management of the National Bank of Kuwait (NBK) conducted a site visit to the new Kuwait Airport project, where they were provided with an in-depth briefing on the latest advancements in the implementation of its phases.

The visit was attended by Mr. Isam Al-Sager, Vice Chairman and Group CEO of NBK, Ms. Shaikha Al-Bahar, Deputy Group CEO of NBK, Mr. Salah Al-Fulaij, CEO of NBK-Kuwait, Mr. Sulaiman Al-Marzouq, Deputy CEO, NBK-Kuwait, Mr. Faisal Al-Hamad, CEO - NBK Wealth, and Mr. Pradeep Handa, General Manager - Foreign Corporate, Oil and Trade Finance Group and Mr. Ezzat Hallal, General Manager & Chief Engineer, along with the management of the Turkish Company Limak Group, which is overseeing the project’s implementation.

The visit underscores NBK's commitment to supporting national projects that drive economic growth and development in Kuwait. During the tour of the project facilities, the bank's executive management received a detailed briefing from project officials on the various stages of implementation.

The new T2 terminal stands as an iconic project among global airport developments. It is a key national initiative aimed at modernizing and enhancing the country's infrastructure, improving Kuwait's connectivity with global destinations, and supporting the nation’s economic diversification efforts. This aligns with the vision of a New Kuwait 2035, seeking to transform the country into a regional and global financial and commercial hub that attracts investment.

 NBK is an active partner in achieving achievements and successes in Kuwait by financing the country's mega infrastructure projects, including  the new Kuwait Airport project, which will form the new transit gateway with a capacity of 25 million passengers annually and an area of 708,000 square meters.

The Bank maintains a strong and strategic partnership with both the Kuwaiti government and the private sector, actively contributing to the country’s development agenda. With an established history of supporting large-scale infrastructure projects that stimulate economic growth, it plays a central role in financing these initiatives. Additionally, the Bank offers expert advisory services and champions community engagement to empower projects that shape Kuwait’s future. This reinforces its leadership as the primary development bank and the preferred financial partner for institutions and major companies within the local market.

Kuwait: NBK Announces Al-Jawhara Millionaire 

In a vibrant setting with an outstanding media and public turnout, National Bank of Kuwait (NBK) hosted a special 8-hour event last Friday at Dar Sheikha Farm in Wafra. The occasion marked the announcement of the winners of the grand prize draw for both Al-Jawhara and Al-Jawhara Junior draws.

The event saw the attendance of senior leaders and officials from National Bank of Kuwait and featured a diverse array of entertainment shows, activities, competitions, and raffles. These activities garnered enthusiastic participation and engagement from the attendees.

The draw, held under the supervision of a representative from the Ministry of Commerce and Industry and a Deloitte representative, resulted in Al-Jawhara account customer Bibi Hussain Ali Akbar winning the grand prize of KD 1 million. Simultaneously, Al-Jawhara Junior draw winner Rouh Hussain Ali Al-Enezi secured the grand prize of KD 10,000.

NBK set up several booths at the celebration site to highlight its premier services and products, catering specifically to its private and privilege banking customers.

On this occasion, Mr. Mohammed Al-Othman, CEO, Consumer and Digital Banking Group at NBK,  remarked: “We remain committed to rewarding our customers across all segments with an exceptional range of draws, prizes, and offers throughout the year. Our goal is to consistently deliver a superior banking experience that reinforces NBK’s leadership and competitive edge in the Kuwaiti banking sector.”

“Today, we celebrate the announcement of the millionaire of the Al-Jawhara Grand Prize Draw , alongside the winner of Al-Jawhara Junior Grand Prize Draw, in a vibrant and exceptional setting befitting this occasion. This reinforces NBK’s commitment to remaining closely connected to its customers at all times,” Al-Othman added.

He emphasized that Al-Jawhara account is a fundamental pillar of the bank’s strategy, designed to offer customers the chance to win extraordinary prizes that enhance their banking experience. It also serves as a vital tool for profit, saving, and future planning for all family members, while supporting NBK’s efforts to foster a culture of savings and promote financial inclusion.

Al-Othman highlighted that NBK has increased the total prize value of Al-Jawhara Account to reach KD 5 million annually since the start of 2024. He also mentioned the recent introduction of Al-Jawhara Saver Account, which offers customers guaranteed interest rate of up to 1.5% for the first year, along with the chance to enter monthly draws and the grand prize draw, provided the balance reaches KD 5,000 or more.

He emphasized that all of NBK's services, rewards, and payment solutions are developed based on thorough studies, analytical tools, and customer surveys to better understand their needs and aspirations. These insights are then used to set clear, irreplaceable goals, with the bank relying on a distinguished team of professionals and the latest global analysis tools and programs.

Since the beginning of 2023, NBK increased total prize pool for Al-Jawhara account draws, establishing it as the largest draw program in Kuwait. The draws include a weekly prize of KD 20,000, a monthly prize of KD 125,000, and a grand prize of KD 1 million, awarded three times annually.

Kuwait: Al-Ablani: NBK’s Training and Development Strategy Creates Professional Teams

In its second panel discussion of the season, the TAMAKAN Program, now in its sixth consecutive year, welcomed Mr. Emad Al-Ablani, General Manager, Head of Human Resources Group at National Bank of Kuwait (NBK). During the session, he shared his extensive experience and journey of contributing to Kuwait's largest banking institution with the Kuwaiti youth.

The panel discussion saw an enthusiastic exchange, with Mr. Al-Ablani discussing key skills essential for the labor market. He emphasized the importance of continuous education, self-development, effective communication, and contributing positively to the work environment. Al-Ablani also shared valuable insights on how to enhance personal skills and abilities, offering practical advice for successfully entering the labor market and ensuring long-term career growth.

During the panel discussion, Al-Ablani addressed participants' questions, covering a range of topics from personal interviews to career progression, and how to advance to the top of the organizational ladder.

Added Value

At the start of his conversation with the youth of the "TAMAKAN" Program, Al-Ablani emphasized, “Every individual must identify the added value they can bring to the organization they work for. Setting a clear goal and choosing the right job requires thorough research and careful consideration to make the right decision, whether it’s regarding the sector you wish to join or the institution that will offer you a promising and sustainable career path.”

Al-Ablani further stated, “Your ambitions and passion must align with the strategy of the organization you wish to work with. Building a successful career requires driven young individuals who are consistently motivated and passionate. There are institutions that prioritize a culture of education and development, and this alignment will create added value both for the employee and the organization.”

The private sector offers abundant opportunities

Al-Ablani emphasized that the private sector is brimming with job opportunities for ambitious Kuwaiti youth. He encouraged recent graduates to pursue careers in this sector, noting its flexibility and dynamism. The private sector, he explained, offers ample space for innovation, development, and creativity, while also providing a conducive environment for continuous training and professional growth. This enables employees to build a solid foundation, equipped with the skills and expertise necessary to tackle the challenges of an ever-evolving labor market.

He highlighted that NBK's most defining feature is its deep appreciation for the dedication and efforts of its employees, regardless of gender. He emphasized that the bank's work environment is built on the principles of diversity, inclusion, and equal opportunities. Furthermore, he noted that advancing within a prestigious institution like NBK demands three essential qualities: passion, determination, and patience.

Job Interviews

Addressing the topic of job interviews, Al-Ablani emphasized the importance of starting with a well-organized resume containing accurate and truthful information. He cautioned against including false details or overstating one's abilities, as misrepresentation can undermine credibility and trust during the hiring process.

Al-Ablani advised the youth of the "TAMAKAN" program, stating: “When attending a job interview, preparation is key. Speak openly and transparently about your skills and experience, and don't hesitate to ask questions about the organization, the specifics of the role, and potential future challenges. This approach demonstrates your genuine interest and enthusiasm for the position.”

“We continuously seek young individuals who exhibit passion and a strong willingness to learn and grow. This is assessed through thoughtful questions that evaluate their responses, reactions, and adaptability,” he added, emphasizing that honest and transparent answers are key to earning the trust of the interviewer.

He stated: “Even if you lack extensive experience, avoid embellishing or providing inaccurate information, as this can have negative consequences. Instead, focus on demonstrating enthusiasm, genuine interest, adaptability, and a willingness to learn quickly.”

Al-Ablani encouraged young individuals to showcase their personal skills during interviews and engage actively with the interviewer instead of giving brief answers. He also emphasized the importance of asking questions to make the conversation more dynamic, explaining that the primary purpose of an interview is to uncover personal qualities rather than delve into complex topics, particularly as most job applicants are recent graduates.

Al-Ablani emphasized that NBK views attracting, retaining, and developing top talent as a cornerstone for achieving its long-term ambitions. To this end, the Human Resources Department focuses on building professional and dynamic teams across all levels, supporting employees from their initial entry into the organization to their advancement into senior leadership roles. Additionally, NBK is committed to fostering a work environment that ensures employees’ well-being and professional growth.

Al-Ablani highlighted that NBK is dedicated to cultivating a flexible and dynamic workforce through a strategy grounded in four core pillars: aligning the right competencies with the right roles at the right time, preparing future leaders by fostering individuals who inspire and empower innovation, attracting top talent through robust recruitment, retention, and development initiatives, and establishing a sustainable performance-driven culture that prioritizes diversity, inclusion, clear results management, and employee well-being.

Teamwork

Al-Ablani emphasized the critical role of teamwork for any organization, stating: “Teamwork is a cornerstone of success for major institutions, a defining feature of the work environment at a distinguished organization like NBK. The unique characteristics and capabilities of each individual bring diverse perspectives, enabling better and more comprehensive decision-making. This integration among team members ensures that success becomes a natural outcome of their collaboration.”

He emphasized the importance of patience and dedication in achieving career growth, encouraging individuals to continuously ask questions and learn from the experiences of their team members.

In the meantime, Al-Ablani cautioned against making hasty decisions, such as switching departments or jobs in response to criticism or negative evaluations. He emphasized the importance of addressing such feedback constructively, engaging with managers to identify areas for improvement, and focusing on developing the necessary skills to prevent similar evaluations in the future.

He highlighted that NBK fosters an open-door policy, actively encouraging discussion, idea-sharing, and diverse perspectives. Additionally, the bank provides various communication channels that enable employees to voice their opinions, share suggestions, and gauge their satisfaction with the work environment.

Workforce Development

On the bank's commitment to employee development, Al-Ablani stated: “We strongly believe in the value of investing in human capital. Therefore, we focus on enhancing workforce capabilities by designing and delivering tailored training initiatives, workshops, and educational programs that elevate skills and competencies. Each employee receives targeted training aligned with their career stage, starting from the moment they join the bank.”

“All training programs offered by the bank are meticulously crafted by specialized experts to cater to all job levels,” he added, emphasizing that the "TAMAKAN" Program presents an outstanding opportunity to develop essential skills for entering the labor market in general, not just for working at NBK.

Al-Ablani emphasized that NBK’s comprehensive strategy in training and development, coupled with its work environment that fosters creativity and innovation, contributes to the qualification of distinguished leaders. He highlighted that NBK's training programs are continuous and inclusive, covering all stages of an employee's career journey. From onboarding new hires to preparing leaders, every employee undergoes tailored training programs. As employees progress to higher roles, they receive specialized training designed to equip them with the necessary skills for their new responsibilities, ultimately preparing them for senior leadership positions.

At the conclusion of the panel discussion, Al-Ablani shared valuable advice with the youth, offering a roadmap to building a successful career through dedication and thoughtful application. His key recommendations included:

• Strive to acquire new skills daily.

• Strengthen your abilities by participating in training programs and courses.

• Embrace lessons from negative experiences and draw insights from those around you.

• Engage in discussions with your managers to identify areas for improvement and address feedback constructively.

• Practice patience and avoid altering your career path due to temporary setbacks.

Kuwait: Al-Marzouq: NBK’s Founding Values Have Cemented its Role as a Cornerstone of Kuwait’s Financial Sector

National Bank of Kuwait (NBK) officially launched a series of panel discussions featured in the sixth edition of the "TAMAKAN" program. Organized by Creative Confidence under NBK’s patronage and strategic support, the program facilitates meaningful dialogue between the bank’s executive management and the participating trainees.

The program featured Mr. Sulaiman Al-Marzouq, Deputy CEO at NBK-Kuwait, who shared his extensive experience with Kuwaiti youth, shedding light on the key milestones of his career that led to his senior leadership role at the country’s largest banking institution.

During his session with the "TAMAKAN" program trainees, a platform dedicated to training Kuwaiti university graduates, Mr. Sulaiman Al-Marzouq reflected on the most significant challenges he encountered throughout his journey of dedication and achievement. He also shared invaluable advice to inspire and guide participants in building a successful and impactful career.

From Branch Management to Leadership

Al-Marzouq opened the panel discussion by engaging with the trainees, learning about their academic specializations, and then delving into the key stages of his professional journey. Reflecting on his path, he shared: “I initially pursued engineering during my university studies before transitioning to economics, eventually graduating from a university in the United States. Upon returning to Kuwait, I began my career at NBK, starting in branch management. This role marked a pivotal turning point in my career, as it provided invaluable insights into the banking cycle and honed my ability to engage with customers and address their needs—an essential aspect of branch operations, where customer service remains the cornerstone of success.”

Al-Marzouq continued, stating: “Following my time in branch management, I was offered roles in three different departments. However, I chose to join the treasury department, as it provides essential skills and experience vital for anyone in the banking sector. The treasury serves as a critical link between the bank and both local and international financial markets, demanding swift and informed decision-making. I dedicated 12 years of my career to this dynamic and pivotal department.”

“Working in the treasury department deepened my passion for banking and instilled a boldness in me to take on greater responsibilities. For me, earning a high salary was never the primary goal; my focus was on developing my skills, learning quickly, and shouldering more responsibilities. Ambition requires boldness, and one should never fear making mistakes, as mistakes are crucial to learning and personal development. They are often the first step on the path to success. However, the key is not to repeat the same mistake,” Al-Marzouq added.

Career at the Central Bank

Reflecting on his transition from the private sector to the public sector, Al-Marzouq remarked: “After 12 years in the treasury department at NBK, I embarked on a new chapter at the Central Bank of Kuwait (CBK). The nature of the work differed significantly, as the CBK serves as a regulatory authority responsible for issuing the policies and legislation governing the banking sector. However, this experience proved invaluable, equipping me with a wealth of skills and a deep understanding of regulatory and administrative frameworks."

He emphasized that the CBK stands as a cornerstone institution for the operations of local banks, housing seasoned bankers whose extensive expertise plays a pivotal role in bolstering confidence in the local banking sector and Kuwait’s economy as a whole.

NBK offers the best work environment in the private sector

Al-Marzouq highlighted how his tenure at the CBK enriched his expertise and strengthened his standing in the banking sector. He revealed that he received three job offers from various banks but chose to return to NBK due to its unparalleled and exceptional work environment, which he described as the best among all private sector institutions in Kuwait.

Al-Marzouq emphasized that working at NBK is the ideal choice for anyone driven by passion and ambition to ascend to top leadership positions. He praised the bank's exemplary work environment, which rivals that of leading international institutions and companies, fostering a culture of creativity and innovation. He also highlighted NBK's commitment to continuous professional development, offering its employees—especially recent graduates—world-class training programs in collaboration with prestigious educational institutions, both locally and globally. 

Al-Marzouq highlighted that NBK's enduring distinction lies in its adherence to regulations and values that have been ingrained since its founding in 1952 by a group of prominent Kuwaiti merchants. Over the decades, these principles have cemented NBK's position as the cornerstone of Kuwait's financial landscape and one of the largest and most influential financial institutions in the region.

“Amid the rapid advancements in the banking industry driven by modern technology and artificial intelligence, training programs have become indispensable for enhancing employee capabilities and workforce efficiency. At NBK, fostering a culture of training and development is a cornerstone of its strategy, rooted in the belief that employee excellence directly translates into superior service quality for its clients,” Al-Marzouq stated.

Teamwork

Al-Marzouq underscored the vital role of collaboration and teamwork, stating: “Teamwork forms the foundation of any organization’s success. It fosters mutual growth among team members through the exchange of diverse ideas, experiences, and skills. This dynamic not only enhances performance and boosts productivity but also drives diversity and innovation, which are essential for sustained progress.”

He emphasized that mutual motivation among colleagues and recognizing each other's achievements play a crucial role in uplifting team morale, bolstering confidence, and fostering commitment. “Success is never a solitary journey," he remarked, "but rather the outcome of teamwork and collaboration among all employees.”

Key Drivers of Success and Excellence

Al-Marzouq offered advice to the trainees in the "TAMAKAN" program, emphasizing to the Kuwaiti youth: “Anyone who aspires to advance in their career must put in extra effort and seek more responsibilities, ensuring they are equipped with the necessary knowledge, skills, and expertise to handle them. Managers value proactive employees who bring innovative ideas, a passion for their work, and a strong ambition for growth.”

Al-Marzouq also advised the trainees to select a work environment that fosters creativity and innovation at the outset of their careers. He emphasized that the private sector operates on profitability and requires employees who add significant value to the organization. Therefore, he urged each individual to define their goals and choose a career path that aligns with those objectives.

He stressed the importance of not rushing promotions, as they can lead to burnout if an individual is not prepared or qualified for the new role. He emphasized that the key to success lies in focusing on skill development and being ready to seize the right opportunities at the right time, which benefits both the employee and the organization.

In response to a question from one of the trainees about how to achieve career development, Al-Marzouq advised: “Always seek feedback from your colleagues and manager, and use their insights as opportunities to improve your performance and enhance your skills. Learn from the experiences of others, benefit from the advice of those with expertise, and set clear, specific goals for yourself, working diligently to achieve them.”

Al-Marzouq encouraged young people to be patient and advised them not to leave their workplace due to issues with a single individual in a managerial role or within their work team. He emphasized the importance of having a clear plan and goal, explaining that career decisions should be based on the pursuit of these objectives, rather than being influenced by transient factors.

He emphasized that the labor market is highly competitive across all sectors, requiring ambitious individuals to focus on developing the necessary skills and gaining the expertise needed to build a successful and sustainable career. He also highlighted that the "TAMAKAN" program offers a unique experience, providing fresh graduates with the opportunity to forge a bright future and become a valuable and effective part of the Kuwaiti economy.

It is worth noting that the "TAMAKAN" program is designed to enhance the personal skills essential for entering the workforce, while also inspiring Kuwaiti youth to explore their potential, harness their energies, and unlock their creativity.

The program adopts a blended learning approach, combining in-person and online training through electronic platforms and interactive tools for distance education. It covers a range of themes and workshops, including creativity and innovation, design thinking, business model development, career exploration, and strategies for mitigating risks.

NBK is dedicated to advancing the country's strategic agenda by bolstering the private sector and contributing to the nation's development plans, aligning with the long-term objectives set forth in Kuwait Vision 2035 “New Kuwait”.

Valuable Insights

During his meeting with the trainees of the "TAMAKAN" program, Al-Marzouq shared a set of invaluable insights to guide them toward excellence, progress, and a successful career, including:

- Success is not an individual journey but the outcome of collaboration and teamwork.  

- Mutual motivation boosts morale and enhances team spirit.

- Don’t rush promotions unless you are fully prepared and qualified.

- Listen to the advice of those with experience.

- Seek out additional responsibilities and take the initiative to propose innovative solutions.

- Always focus on the value you bring to the organization.

- Continuously develop your skills and be ready to seize opportunities when they arise.

Kuwait: NBK Celebrates Most Valued Team Players and Most Collaborative Teams of 2024

Aligned with its corporate culture and strategy of valuing employee contributions and fostering a positive work environment, National Bank of Kuwait (NBK) honored its Most Valued Team Players (MVP) and Most Collaborative Team (MCT) for 2024. The recognition spanned Kuwait, international branches, and for the first time NBK Wealth, celebrating their outstanding achievements and dedication throughout the year.

The Bank's executive management presented the “MVP” and “MCT” awards for 2024 to the winners, aiming to inspire continued dedication and exceptional performance to uphold the bank's leadership locally and regionally. A total of 79 employees and 32 teams from various departments locally have been awarded for their outstanding contributions, along with NBK Wealth.

NBK’s International Branches have also taken part in this initiative, nominating MVPs and MCTs in their respective locations.

This group-wide recognition program is based on peer-to-peer voting. Winners were considered by their peers in the same group for their teamwork spirit, engagement, communication, effectiveness, transparency, contribution to the team and division, and overall positive impact on the group.

The executive management commended the dedication, commitment, and efforts of the bank's employees, emphasizing the collaborative spirit that consistently drives the bank's success. This collaborative spirit empowers NBK to provide banking services that meet international quality standards.

This recognition underscores the bank's commitment to its human resources, reaffirming its dedication to providing comprehensive support that enhances employee performance and contributes to elevating the quality of services and products NBK delivers to its customers.

On this occasion, Mr. Emad Al-Ablani, General Manager - Head of Human Resources Group, stated: “We are committed to celebrating our outstanding employees every year, recognizing the crucial role they play in NBK's ongoing achievements at local, regional, and international levels. We continuously strive to motivate and appreciate their efforts and contributions, as this forms an integral part of NBK's thriving work environment and culture of sustainable performance.”

“This recognition is a cornerstone of our corporate culture, reflecting the bank's commitment to appreciating the efforts of its talented workforce. It boosts employee morale, encourages the generation of new and innovative ideas, and reinforces their sense of being a vital part of the organization’s success. This, in turn, deepens their loyalty and connection to the bank, while further bolstering NBK’s standing as the leading work environment in Kuwait’s private sector,” he added.

“Our employees are our greatest asset, which is why we continually invest in human capital and work to enhance the capabilities of our workforce at all levels within the group. We achieve this by designing and implementing training initiatives, workshops, and educational programs aimed at boosting their skills and competencies. We proactively analyze our training needs, aligning them with future business transformations, and focus on refining and enhancing our employees' abilities to ensure they are equipped to navigate the evolving landscape of our industry,” Al- Ablani emphasized.

He highlighted that NBK provides a unique work environment that promotes continuous professional development, utilizing all available resources to facilitate employee growth. The bank is committed to fostering creativity, motivating employees to strive for excellence, and creating opportunities for career progression and future leadership roles.

Al-Ablani explained that teamwork is the key driver behind the bank's success, as it facilitates the exchange of ideas and experiences among employees, leading to diverse perspectives that contribute to making more informed and well-rounded decisions. He emphasized that NBK will continue its initiatives aimed at energizing its workforce, firmly believing that the bank's sustained excellence relies on having qualified human resources with high professional competence.

The MVP awards stand out as a unique initiative, where employees have the opportunity to nominate colleagues within their own departments or teams whom they deem the most valuable. These outstanding individuals are subsequently honored and rewarded by NBK's senior management, with their efforts celebrated through special ceremonies held for each of the bank's divisions.

Voting is conducted through a digital poll, allowing each employee to cast their vote for colleagues they consider deserving of the MVP award. Award recipients are presented with a certificate from senior management during a ceremony organized by the bank, with executive management in attendance.

Kuwait: NBK and SPARK Athletic Center Forge an Exclusive Partnership

National Bank of Kuwait (NBK) has entered into an exclusive partnership with SPARK Athletic Center, Kuwait’s premier fitness and health destination. This collaboration reflects NBK’s unwavering commitment to enhancing the banking experience by providing its customers with exceptional services and tailored offers that align with diverse lifestyle preferences.

The agreement was formalized at the SPARK Athletic Center headquarters in Shuwaikh, with Mr. Hisham Al-Nusif, General Manager of the Consumer Banking Group at National Bank of Kuwait, and Mr. Abdulmohsen Al-Babtain, CEO of Groupxen, signing on behalf of their respective organizations.

Under the terms of the agreement, NBK, in partnership with SPARK, will introduce a groundbreaking service to its customers at the start of 2025. This will include innovative offers and exclusive benefits, carefully crafted to align with their aspirations and needs.

On this occasion, Mr. Hisham Al-Nusif, General Manager of the Consumer Banking Group at NBK, remarked: “We are committed to continually enhancing convenience and excellence for our customers across all segments and age groups. By offering the finest services and exceptional offers, we aim to meet their needs, fulfill their aspirations, and deliver a truly unique banking experience.”

“We are delighted with this partnership with SPARK Athletic Center, a pioneer in the fitness industry, as it offers our customers exclusive benefits that reinforce NBK’s leadership in the banking sector,” added Al-Nusif. He emphasized that the bank is consistently looking to expand its network of partners and leverage its strong relationships with major companies across various sectors to deliver an unparalleled banking experience, offering services and benefits that elevate the lives of its customers.

He explained that customer satisfaction and delivering the best banking experience are integral to NBK's culture. He further noted that, with the extensive experience gained over decades, the bank is well-equipped to understand customer needs, assess their goals, and consistently exceed their expectations.

In the meantime, Mr. Abdulmohsen Al-Babtain, CEO of Groupxen, stated: “We are proud to partner with a leading banking institution and esteemed brand like NBK. This partnership marks a strong and exciting new chapter for SPARK Athletic Center, and we are committed to working together to raise awareness about sports and encourage the entire Kuwaiti community to embrace a healthy lifestyle.”

“There is no doubt that our collaboration with NBK, a pioneer in driving tangible, qualitative advancements across various sectors, will greatly enhance our efforts to deliver SPARK's message to the widest possible audience of both citizens and residents in Kuwait,” Al-Babtain added.

Founded in 2013, SPARK Sports Athletic Center is Kuwait’s premier fitness and wellness destination, providing exceptional experiences through cutting-edge facilities, innovative programs, and a results-driven approach. Catering to individuals of all fitness levels, SPARK offers a comprehensive range of services, including advanced strength training, high-performance group fitness classes, and specialized fitness programs.