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Burgan Bank Named Best Domestic Bank in Kuwait in Euromoney Survey

Attesting to the Bank’s unwavering commitment to service excellence and an elevated customer journey Kuwait, 29 May 2024: In a new tribute to its outstanding performance and its position as a trusted financial partner, Burgan Bank announced that it was voted as the Best Domestic Bank in Kuwait in the 2024 Euromoney Trade Finance Survey. A notable global recognition and benchmark to service excellence, Euromoney’s annual survey gathers and analyses thousands of trade-finance service users’ independent votes to rank and assess their top providers within the domestic, regional, and global markets. Commenting on this prestigious accolade, Mr. Fadel Abdullah, Chief Executive Officer (CEO) – Kuwait at Burgan Bank, said: “It is a great honor for us at Burgan to be recognized by Euromoney and voted as the ......read more

Burgan Bank Lights Up its Headquarters in Blue

In celebration of Al-Zour Refinery’s opening Kuwait, 28 May 2024: Burgan Bank recently lit up its headquarters in blue from May 25 to June 6, joining numerous public and private entities in the nationwide celebration of Al-Zour Refinery’s opening on May 29 under the patronage of HH the Amir of Kuwait Mishal Al-Ahmad Al-Jaber Al-Sabah. In addition to being the world’s largest grassroots refinery, Kuwait Integrated Petroleum Industries Company’s (KIPIC) mega project marks a turning point for Kuwait’s economy and its capacity for influencing the global oil and gas industry. Commenting on the Bank’s participation in the nationwide celebrations, Ms. Hessa Hussain Al-Najadah, Senior Manager - Corporate and CSR Communications at Burgan Bank, said: “The opening of Al-Zour Refinery is a win for ......read more

KIB announces winners of Al Dirwaza account's weekly draw - W4

The best account of its kind in Kuwait in terms of the number of winners and offering the highest monthly expected returns Kuwait, 27 May 2024: Kuwait International Bank (KIB) announced the winners of the weekly draw held under the Al Dirwaza account’s 2024 campaign, which is distinguished by the highest number of winners throughout the year. The fourth weekly draw, based on customers’ April deposits, recently took place in the presence of representatives from the Ministry of Commerce and Industry, as well as representatives from the Bank. The KD 1,000 prize was awarded to Subah Khairallah Abdulwahed Sultan, Mohammad Mahdi Ali Basheer, Saber Jamaan Abdullah, Khaled Abdullah Eisaa Alfarhan, and Hamdah Rashed Salem Almertiji whilst the KD 500 prize was awarded to Khaled Mohammad Rashed Alhemeli, Nezar Mohamed Jameel ......read more

Burgan Bank Offers Four Visa Cardholders a Chance to Win a Trip to the Paris 2024 Olympics

In a bid to reward its loyal customers and offer them an unmatched banking experience Kuwait, 28 May 2024: As part of its continued efforts to offer its customers a holistically rewarding banking journey, Burgan Bank unveiled its latest draw campaign, “Visa Olympics”, which grants four lucky Visa cardholders an all-expenses-covered trip to Paris to attend the 2024 Summer Olympics. The campaign is valid throughout the entire month of May for all Burgan customers using Visa credit and prepaid cards, with the draw set to take place on June 2, 2024. Commenting on the Bank’s latest reward campaign, Mr. Nasser Al-Qaisi, General Manager – Retail Banking at Burgan Bank, said: “As a core part of our retail strategy, we seek to offer a fully integrated and rewarding customer journey; one that goes beyond ......read more

Ooredoo Kuwait receives honors from Nour Academy for Special Needs Services

[Kuwait, 26th May 2024] Ooredoo Kuwait has been honored by Nour Academy for Special Needs Services for its voluntary community engagement during Ramadan. The recognition was awarded at the Academy’s thirteenth annual ceremony, held at the Australian University in Kuwait. This event celebrated the Academy’s “Nour Al-Ensan” degree graduates, who served as trainees and teacher assistants during the 2023-2024 academic year. The ceremony highlighted the achievements of these remarkable graduates with special needs, expressing deep gratitude for their efforts. During the ceremony, Nour Academy presented its award trophy to Ooredoo Kuwait, in appreciation of its volunteer employees who took part in the Gergean celebratory visit, spreading joy among the students, their families, and their supervisors. This recognition ......read more

KIB launches ‘Win with KIB Rewards' campaign for its app users

Kuwait, 25 May 2024: Kuwait International Bank (KIB) has announced the launch of its new ‘Win with KIB Rewards’ campaign, which will run from May until the end of the year. The campaign aims to reward customers who use KIB’s Banking App to open Al Dirwaza account, issue a Multicurrency prepaid card, or open a deposit investment of any kind. During the campaign period, 80 lucky customers will win in the monthly draws. Commenting on the newest KIB campaign, Nawaf Al-Khrayef, Assistant General Manager of the Retail Banking Department at KIB, said: “At KIB, we are committed to rewarding loyal customers, delivering innovative solutions that meet their evolving needs, and elevating their overall banking experience, in line with our ‘Bank for Life’ slogan. Our new ‘Win with KIB Rewards’ ......read more

Burgan Bank Signs Core Banking Deal with TCS BaNCS as Part of its Transformation Strategy

Kuwait, 23 May 2024: In continued efforts to enhance and fortify its technology infrastructure, Burgan Bank announced signing an agreement with market-leading Tata Consultancy Services to upgrade its core banking system by implementing the TCS BaNCS™ suite of products. This monumental deal marks a significant leap in Burgan Bank’s expansive technology and digital transformation strategy, which aims to facilitate a smooth transition from traditional to digital banking. It also confirms Burgan’s commitment to technology and digital transformation as a primary pillar of its strategy and a core tenet of its vision to become Kuwait’s most modern and progressive Bank, where customer service and employee productivity are always on an upward trajectory. “We have embarked on a very broad technology and ......read more

KIB announces winners of Al Dirwaza account's Draw W3 May

The best account of its kind in Kuwait in terms of the number of winners and offering the highest monthly expected returns Kuwait, 21 May 2024: Kuwait International Bank (KIB) announced the winners of the weekly draw held under the Al Dirwaza account’s 2024 campaign, which is distinguished by the highest number of winners throughout the year. The third weekly draw, based on customers’ April deposits, recently took place in the presence of representatives from the Ministry of Commerce and Industry, as well as representatives from the Bank. The KD 1,000 prize was awarded to Mafaz Asad Mansour Alebrahim, Murtadha Abdulsamad Ali Alsaffar, Naji Salem Wadeed Alsubaiei, Dalal Abdulwahed Abdulrahman Alhadhoud, and Alaa Dawoud Sulaiman Alkhashti, whilst the KD 500 prize was awarded to Ayman Mubarak Jassim Mubarak, Doaa Ibrahim ......read more

KIB advocates enhanced safety measures for online shopping

Kuwait, 20 May 2024: In an effort to increase public awareness about online financial security, Kuwait International Bank (KIB) issued a comprehensive set of safety tips designed to protect consumers while they shop online. The initiative comes as part of KIB’s continuous support for the ‘Let’s Be Aware’ (Diraya) campaign, which was launched by the Central Bank of Kuwait (CBK) and the Kuwait Banking Association (KBA) in collaboration with local banks, as well as the Bank’s comprehensive social responsibility program. Commenting on the campaign, Dawood Behbehani, Assistant General Manager - Information Security, Privacy and Anti-Fraud Department at KIB, said: “As e-commerce continues to grow, so does the importance of safeguarding personal and financial information against the rise in cyber threats ......read more

Burgan Bank Ratings Affirmed at ‘A+' and ‘A1' with a Stable Outlook

Underscoring the Bank’s financial core strength Kuwait, 20 May 2024 Capital Intelligence Ratings (CI Ratings or CI) announced that it has affirmed the Long-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) of Burgan Bank K.P.S.C. (“Burgan or “The Bank”) at ‘A+’ and ‘A1’ respectively. In addition, CI Ratings has affirmed the Bank’s Standalone Rating (BSR) of ‘bbb+’, Core Financial Strength (CFS) rating of ‘bbb+’, and Extraordinary Support Level (ESL) of High. CI also reported that the LT FCR and BSR outlook remain Stable, with no expectation of any of external or internal credit challenges to result in any downward changes to the ratings over the next 12 months. The Bank’s BSR and CFS ratings are supported by ......read more

Burgan Bank Upgrades Iconic “BuBa” Kids Savings Account to "awal"

In line with its efforts to raise financial awareness and bolster the saving culture in Kuwait Kuwait, 19 May 2024: Burgan Bank announced the launch of its latest interest-bearing savings account “awal”, which was developed and tailored specifically for children up to the age of 14. Building on the great success of its predecessor, “BuBa” savings account, awal aims to encourage Burgan’s young customers to adopt the savings culture and learn to manage their spending wisely. This comes as part of Burgan’s commitment to addressing the varying banking needs of its customers, as well as spreading essential financial literacy among members of the community, beginning with children. In light of the awal account launch, Mr. Nasser Al-Qaisi, General Manager – Retail Banking at Burgan Bank, ......read more

KIB forges partnership with ECO, Kuwait's first business incubator in environmental innovation and renewable energy

Kuwait, 19 May 2024: Kuwait International Bank (KIB) has announced the signing of a memorandum of understanding (MoU) with ECO, a pioneering business incubator in the fields of environment and renewable energy. The initiative aims to boost innovation in the business sector, support Kuwaiti projects, and adopt new environmental ideas. This step reflects the Bank's commitment to its strategic objectives of supporting sustainable development projects and advancing progress in Kuwait, by enhancing environmental awareness within the community and transitioning to alternative energy sources, thereby reducing dependence on traditional energy. Commenting on the new MoU, Marwa Marafie, Manager of Marketing and Corporate Communications at KIB, said: “At KIB, we take pride in embracing various initiatives and supporting efforts that ......read more

KIB organizes special workshop on investment fundamentals and real estate appraisal at Kuwait University's College of Business Administration

Kuwait, 15 May 2024: Kuwait International Bank (KIB), represented by its Real Estate Department, organized a practical workshop at the College of Business Administration at Kuwait University, in response to an invitation to discuss the fundamentals of investment and real estate appraisal. Held at the university's campus in Shadadiya, the workshop was attended by several faculty members and students from the College. Fahad Alsaleh, Manager of the Real Estate Advisory Division and the Product Development and Support Division (PDSD) at KIB's Real Estate Department, and Engineer Hossam Al-Kolak, Real Estate Expert in the Real Estate Department, shared their expertise and technical knowledge in the real estate field with the future generation of entrepreneurs and leaders in real estate development in the country. This distinguished ......read more

Burgan Bank Supports Aspiring Job Seekers at GUST Career Fair

Extending its dedicated human capital development efforts and investment in Kuwait’s national talent Kuwait, 16 May 2024: Burgan Bank recently concluded its participation in the three-day Career Fair organized and hosted by the Gulf University for Science and Technology (GUST). The Bank’s renewed participation in the annual GUST Career Fair is a testament to its commitment to attracting Kuwait’s brightest and most aspiring talents and investing in their professional and personal growth, guaranteeing a brighter future for individuals and the market at large. Representing Burgan at the event was a team of select staff from the Bank’s Human Resources Department who spoke to many job seekers exploring opportunities in the banking and financial sector. The Burgan representatives introduced visitors to the ......read more

Ooredoo Kuwait Introduces Tabby to Enhance Customer Shopping Experience

Kuwait, May 14th, 2024: Ooredoo Kuwait, a pioneering force in the telecom and digital innovation sector, proudly announces the integration of Tabby, MENA’s largest flexible payments provider, into its eShop platform, enhancing the shopping experience for its customers. Tabby will now be available as a payment option on Ooredoo eShop for cash orders, providing customers purchasing smartphones and accessories with added convenience and flexibility. This innovative payment solution empowers customers to acquire what they need immediately and defer payment, making the latest technology more accessible than ever before. Tabby enables customers to enjoy the flexibility of paying for their purchases in four, without incurring any interest or fees. This feature allows for a seamless shopping experience, removing financial barriers ......read more

Burgan Bank Launches its Women Empowerment Program "Burgan Lean in Circle"

In a new testament to its committed and inclusive human capital development strategy  Kuwait, 15 May 2024: Following a series of dedicated efforts aimed at encouraging employees’ holistic development and growth, Burgan Bank announced the launch of “Burgan Lean in Circle for Women Empowerment”,  the circle explores and addresses all challenges faced by women in the workplace, diminishing any obstacles that slow down their professional or personal growth. This initiative is part of Burgan’s expansive human capital development strategy and its commitment to remaining a top employer of choice in the Kuwaiti banking and financial market. “At Burgan Bank, we are committed to creating an inclusive workplace where everyone has an equal opportunity to succeed, and the ‘Burgan Lean in ......read more

KIB announces winners of Al Dirwaza account's weekly draw

The best account of its kind in Kuwait in terms of the number of winners and offering the highest monthly expected returns Kuwait, 13 May 2024: Kuwait International Bank (KIB) announced the winners of the weekly draw held under the Al Dirwaza account’s 2024 campaign, which is distinguished by the highest number of winners throughout the year. The second weekly draw, based on customers’ April deposits, recently took place in the presence of representatives from the Ministry of Commerce and Industry, as well as representatives from the Bank. The KD 1,000 prize was awarded to Fahad Mohammad Alhumaidi AlAjmi, Zahraa Abdullateef Mohammad Hajji Akbar, Abdullah Mehmas Sulaiman Almutairi, Mustafa Zaher Habib Kamal, Mohammadreza Manouchhr Ahmadi whilst the KD 500 prize was awarded Ahmed Mahmoud Mohamed Ahmed, Ali Hussain Neama ......read more

Burgan Bank Successfully Issues KWD 150 Million worth of the First KWD Additional Tier 1 Bonds

Jointly managed by Kamco Invest and Gulf Bank Kuwait, 14 May 2024: Burgan Bank announces the successful completion of its issuance of KWD 150 million Perpetual Additional Tier 1 Capital Bonds. The demand for the bonds exceeded expectations and the issuance was oversubscribed, confirming strong investor interest in the bank's offerings. This issuance stands as a landmark achievement, being the largest Kuwaiti Dinar Perpetual Additional Tier 1 Capital Bond issuance in Kuwait. Furthermore, it is also the first Perpetual Additional Tier 1 Capital Bond issuance denominated in Kuwaiti Dinar by a bank and ranks among the largest Kuwaiti Dinar issuances, underscoring its significance within the financial market. Rated BBB- by Capital Intelligence, the bond presents rewarding returns for investors in both tranches, the ......read more

Burgan Bank Reports Net Income of KD 10 million in Q1'24

Kuwait, 12th May 2024: Burgan Bank (“Burgan” or “the Bank”) announced its financial results for the first quarter ending March 31, 2024 (Q1’24). The Bank reported KD 54 million in revenues for Q1’24, marking a growth of 7% year-on-year (y-o-y). The increase in revenues was primarily driven by higher Non-Interest Income of KD 20 million, up 27% y-o-y and Stable Net Interest income of KD 34 million. Due to higher revenues and a stable cost base, the Bank’s Operating Profit for the quarter reached KD 24 million, up 14% y-o-y. Accordingly, Burgan’s Net Income in Q1’24 increased by 34% y-o-y to KD 10 million. In Q1’24, the Bank demonstrated strong asset growth of 8% y-o-y, reaching KD 7.8 billion by the end of the period. The Group’s loan book was also robust at KD ......read more

Burgan Bank Sponsors AUS “Art's Night” Event

Kuwait, 12 May 2024: Burgan Bank recently sponsored the annual “Art’s Night” event, organized by the American United School (AUS) for its community of teachers, students, and their families. Similar to previous “Art’s Night” events, this year’s gave students a platform to express themselves authentically through different arts while offering visitors numerous engaging activities that made for an excellent bonding experience between students and their parents. Burgan Bank’s renewed sponsorship of the annual event comes as part of its comprehensive social responsibility program and its unwavering commitment to the holistic development of students across all educational levels in Kuwait. Commenting on the Bank’s sponsorship, Mr. Talal Hamed Al-Ayar, Senior Officer of Corporate and ......read more

Ooredoo Kuwait Champions Talent Development with "Waed" Internship Program

[Kuwait, 11th May 2024] Renowned for its dedication to nurturing Kuwaiti youth, Ooredoo Kuwait, telecommunications leader, continues to spearhead the ‘Waed’ internship initiative for the second year in a row, as part of its social responsibility agenda. It serves to mention that ‘Waed is a youth development project launched in collaboration with Youth Public Authority to empower young students and prepare them for their future careers. ‘Waed’ provides an important platform for training Kuwaiti youth to enhance their skill set with practical applications at an early age, employing the young participants, from secondary school students, i.e. those between the ages of 14 to 17 years in real fields work to gain new professional skills. In its second season, the ‘Waed’ program this year will ......read more

Burgan Bank Celebrates the Graduation of Aspiring Employees from KGDP

In line with its dedicated human capital development strategy Kuwait, 10 May 2024 Burgan Bank recently celebrated two of its talented and high-performing employees for completing the one-year Kuwait Graduate Development Program (KGDP) in collaboration with the Kuwait Institute for Banking Studies (KIBS) under the umbrella of the bank’s dedication of human capital development and advancement of Kuwaiti Talents. The graduation ceremony was held in the presence of Burgan Bank’s management, including Mr. Naqeeb Amin, General Manager – Human Resources and Development, Mr. Naser Al-Qaisi, General Manager – Retail, , as well as Ms. Rana Al-Nebari – Director General at KIBS along with Mr. Waleed Al-Khubeazi, Executive Director, Organization and Administration Sector at CBK . Burgan Bank’s participation ......read more

Burgan Bank Sponsors “Umm Kulthum with Marwa Nagy” Concert in Partnership with NCIG

Cementing its role as a champion of arts and entertainment advancement in Kuwait Kuwait, 9 May 2024: Burgan Bank recently announced its sponsorship of the “Umm Kulthum with Marwa Nagy” concert, marking the beginning of the Bank’s strategic partnership with the National Creative Industries Group (NCIG). The concert is scheduled to take place on May 29-30 at the Sheikh Jaber Al-Ahmed Cultural Centre, with tickets now available for sale on the Centre’s website and application. This comes as part of Burgan’s dedicated social responsibility program and its unwavering commitment to the advancement of Kuwait’s arts and entertainment sector. Commenting on the Bank’s sponsorship, Mrs. Kholoud AlFeeli, Deputy General Manager – Marketing and Communication at Burgan Bank, said: “We are ......read more

KIB announces winners of Al Dirwaza account's monthly and weekly draw May 2024

The best account of its kind in Kuwait in terms of the number of winners and offering the highest monthly expected returns Kuwait, 7 May 2024: Kuwait International Bank (KIB) announced the winners of the monthly and weekly draw held under the Al Dirwaza account’s 2024 campaign, which is distinguished by the highest number of winners throughout the year. The monthly and weekly draw, based on customers’ April deposits, recently took place in the presence of representatives from the Ministry of Commerce and Industry, as well as representatives from the Bank. Ammar Abduehalim Darwish and Sultan Turki Hameed Alazmi were named the lucky winners in the monthly draw, with each customer walking away with a prize of KD 5,000. As for the weekly draw, the KD 1,000 prize was awarded to Khalid Farouk Azab Mohamed Mobasher, Jassim ......read more

Burgan Bank Welcomes Private Banking Clients at Al-Shaheed Branch

Guaranteeing convenience to a wider base of high-net-worth customers Kuwait, 7 May 2024: Burgan Bank announced that its Private Banking and Wealth Management services and products are now available at Al-Shaheed branch, enabling all high-net-worth individuals (HNWIs) to access the exclusive suite of tailored solutions at more locations with ease and convenience across Kuwait. This comes as part of the Bank’s expansive strategy and ongoing efforts to elevate its overall banking journey for clients. “Convenience and limitless accessibility are the hallmarks of an elevated banking experience,” Mr. Meshari Abduljalil Shehab, General Manager – Private Banking and Wealth Management at Burgan Bank stated, commenting on the latest expansion of the Private Banking network. “That is why we are working on ......read more

Burgan Bank Welcomes Private Banking Customers at Al-Shaheed Branch

Kuwait, 7 May 2024: Burgan Bank announced that its Private Banking and Wealth Management services and products are now available at Al-Shaheed branch, ;enabling all high-net-worth individuals (HNWIs) to access the exclusive suite of tailored solutions at more locations with ease and convenience across Kuwait. This comes as part of the Bank’s expansive strategy and ongoing efforts to elevate its overall banking journey for customers. “Convenience and limitless accessibility are the hallmarks of an elevated banking experience,” Mr. Meshari Abduljalil Shehab, General Manager – Private Banking and Wealth Management at Burgan Bank, said, commenting on the latest expansion of the Private Banking network. “That is why we are working on continuously expanding our Private Banking and Wealth Management services, ......read more

Burgan Bank Renews its Participation in AUK's Career Growth Fair

As part of its ongoing efforts to support and invest in Kuwait’s aspiring talents  Kuwait, 6 May 2024: Burgan Bank recently participated in the annual Career Growth Fair organized and hosted by the American University in Kuwait (AUK), offering undergraduates and fresh graduates valuable internships and employment opportunities. The Bank’s participation in the one-day event comes as part of its dedicated human capital development strategy and its unwavering efforts to invest in the best and most aspiring professional talents in Kuwait’s banking and financial market. Commenting on Burgan’s participation in the fair, Mr. Abdulwahab Jamal Abdulraheem - Executive Manager- Talent Acquisition at Burgan Bank, said: “We were delighted to be present once again at AUK’s Career Fair, where our HR ......read more

KIB Group announces net profit of KD 6 million (74% increase) for Q1 of 2024

Kuwait, 4 May 2024: Sheikh Mohammed Jarrah Al-Sabah, Chairman of Kuwait International Bank (KIB) Group, announced the financial results for the first quarter of 2024. The Bank achieved net profit attributable to shareholders amounting to KD 6 million which grew by 74% compared to KD 3.5 million. Earnings per share (EPS) was 3.82 fils compared to 3.06 fils for the first quarter of 2023. Total operating income was almost KD 21 million, which grew 23% compared to the first quarter of 2023. Commenting on the latest financial results, Al-Jarrah said: “The results from the first quarter of 2024 reflect the Bank's stable financial standing and its consistent approach to sustainable growth. The flexibility and adaptability of the executive team and all staff have enabled the implementation of our growth strategies and plans. These ......read more

KIB announces winners of Al Dirwaza account's weekly draw May First Week

The best account of its kind in Kuwait in terms of the number of winners and offering the highest monthly expected returns Kuwait, 2 May 2024: Kuwait International Bank (KIB) announced the winners of the Fifth weekly draw held under the Al Dirwaza account’s 2024 campaign, which is distinguished by the highest number of winners throughout the year. The weekly draw, based on customers’ March deposits, recently took place in the presence of representatives from the Ministry of Commerce and Industry, as well as representatives from the Bank. The KD 1,000 prize was awarded to Muhammad Irfan Arshad Ahmad, Manal Ghazi Mohammad Alhoushah, Adnan Jawad Haidar Alrasheed, Ali Hanitem Abdullah Alazmi, Sultan Faleh Sultan Alsubaiei, whilst the KD 500 prize was awarded to Pulimarathin Geel Akbar Siddique, Amal Fhaid Hamad Alajmi, Sarah ......read more

Burgan Bank Concludes Its Sponsorship of “Macintosh” by Free Jabriya

Cementing its role as an active contributor to the development of arts and entertainment in Kuwait Kuwait, 3 May 2024: After two nights of resounding success, Burgan Bank concluded its sponsorship of “Macintosh”, the two-day musical madness experience by Free Jabriya Productions. The show took place at The Arena on April 26-27 and was attended by a multi-generational crowd of 10,000 attendees. The Bank’s sponsorship of the show sits at the intersection between its one-year sponsorship of Free Jabriya Productions, its far-reaching social responsibility program, and its steadfast commitment to the overall development of the domestic arts and entertainment sector. Commenting on the show’s massive success, Ms. Hessa Hussain Al-Najadah, Senior Manager - Corporate and CSR Communications at Burgan Bank, said: ......read more

Burgan Bank Resumes its Burgan Talk Series Featuring Guest Speaker Dr. Angela Ross

As part of its interactive initiative for supporting and enhancing employees’ personal and professional lives Kuwait, 2 May 2024 In a sustained effort to uphold its committed human capital development strategy, Burgan Bank continued its Burgan Talk series of events with a new talk, entitled “A Guide for Working Professionals to Nurturing Healthy Teenagers”. This latest edition was delivered by guest speaker, Dr. Angela Ross from Anara Center, a licensed clinical psychology specialist with over 15 years of experience and holder of a PhD in Counseling Psychology from Auburn University, USA. The event took place under the umbrella of Burgan’s ongoing initiatives designed to promote its employees’ emotional, and psychological health and well-being, both inside the workplace and outside of ......read more

Ooredoo Kuwait Group reported a 9% increase in revenue to KWD 170 million in Q1 2024 Earnings per share of 24 fils

Kuwait City, April 29th, 2024: National Mobile Telecommunications Company K.S.C.P “Ooredoo” (Ticker: OOREDOO) announced today its financial results for the quarter ended 31st March 2024:  Financial Highlights:   Quarterly Analysis    Q1 2024 Q1 2023  % change  Consolidated Revenue (KWD m)  170  155 9%  EBITDA (KWD m)  59  55 7%  EBITDA margin (%) 35% 36%  -    Net Profit attributable to NMTC (KWD ......read more

Burgan Bank's TVC “Wain Al Ayadi” Reinforces the Saving Culture and Garners Wide Engagement and Viewership as Part of Abracadabra 2 Play

In an effort to underscore the importance of taking pride in values and family traditions Kuwait, 30 April 2024:  Burgan Bank released its “Wain Al Ayadi, Middo Al ‘Ayadi” Eid TVC, recorded and performed by the notable multi-disciplinary artist Bader Al-Shuaibi along with a group of talented children. “Wain Al Ayadi” comes as part of the “Abracadabra 2” show performances, whereby the cheerful song was adapted into a commercial (TVC). The TVC was received with enthusiasm, garnering impressive numbers in views across the different social networks.  “Wain Al Ayadi” captured one of the warmest and most significant Eid moments that family and friends share, further underscoring the importance of preserving the values and traditions that define this joyous celebration. ......read more

KIB enhances banking protection measures and reinforces customers' awareness of the risks of financial fraud

Kuwait, 29 April 2024: Kuwait International Bank (KIB) continues to improve banking protection measures, and to dedicate all efforts aimed at enhancing customer awareness and financial literacy, particularly concerning the increasing incidents of financial fraud. This initiative is part of the ‘Let’s Be Aware’ (Diraya) financial awareness campaign, which was launched four years ago by the Central Bank of Kuwait and the Kuwait Banking Association, in collaboration with local Kuwaiti banks. KIB’s efforts in this area reflect its ongoing commitment to protecting its customers’ assets and elevating their banking experience to new levels of security and reliability. In discussing the Bank's direction in this matter, Ammar Maqamess, Manager of the Electronic Banking Services Department at KIB, said: ......read more

KIB introduces the best financing offer on the new KIA Seltos through KIB PayTally App

Kuwait, 28 April 2024: As part of efforts to continue providing the best financing deals, Kuwait International Bank (KIB) recently announced the launch of an offer for the new KIA Seltos through its innovative KIB PayTally app. The offer includes a 5-year Musawama financing, with a Zero profit repayment plan, along with an additional warranty on the vehicle for 3 years or 100,000 kilometers, subject to the terms and conditions of the offer. This step comes as part of the Bank's strategy aimed at continuing to elevate its customers’ banking experiences to a distinct level, as well as enhancing its partnership with the official agent for KIA vehicles, Al Mutawa Group. Commenting on the launch of the new offer, Abdulaziz Al-Shammari, Head of the Central Sales Unit - Retail at KIB, said: “We are pleased to offer ......read more

KIB Issues USD 300 Million Additional Tier 1 Sukuk

Annual profit rate of 6.625% Kuwait, 27 April 2024: The Chairman of KIB, Sheikh Mohammed Jarrah Al-Sabah stated that “As a result of Kuwait International Bank’s (“KIB”) outstanding achievements during the last few years, the solid financial position, its strong credit rating, in line with its well-planned expansionary strategy and its sustainability; and to maintain an appropriate capital adequacy ratio (CAR) level, the Bank decided on issuing an Additional Tier 1 (“AT1”) Sukuk, which was approved by its Annual General Assembly and all competent regulatory bodies. On Wednesday, 24 April 2024, KIB successfully priced a USD 300 Million AT1 perpetual Sukuk that is classified under Tier 1 capital as per Basel III and CBK guidelines at an annual profit rate of 6.625%. KIB received high demand from ......read more

Burgan Bank Launches Its Investment and Wealth Management Academy in Collaboration with Fitch Learning

Reaffirming its commitment to developing its human capital and offering its customers best-in-class service Kuwait, 28 April 2024 Burgan Bank announced the launch of an exclusive Investment and Wealth Management Academy, in line with its dedicated human capital strategy. The academy is curated and delivered in collaboration with the world-renowned provider of learning and development solutions Fitch Learning of Fitch Group. The intensive three-week in-house program reinforces the Bank’s commitment to advancing the professional calibers of Kuwait. It also confirms Burgan’s unwavering efforts to equip its staff with the necessary up-to-date skills and knowledge required to provide its Private Banking and Wealth Management customers with top-notch service. Following such achievement, Mrs. Fatma Ahmad, Learning Acting ......read more

KIB Organizes the First Partners and Suppliers' Forum in Kuwait

Kuwait, 25 April 2024: Kuwait International Bank (KIB) announced the organization of the first-ever Partners and Suppliers Forum in Kuwait, dedicated to its local partners and suppliers. This initiative reflects the Bank's commitment to continuing the journey of achievements and successes that began earlier this year. It is also part of the KIB’s comprehensive business strategy, aimed at enhancing the level of banking services and products it provides to customers from all segments, aligning with their aspirations, expectations, and lifestyles. Commenting on the forum, Nasser Al-Osaimi – Head of Procurement said: “KIB has always been a pioneer in showing appreciation to its partners and strengthening its relationships with them. This vital event serves to embody the Bank's stance in this regard. The forum ......read more

KIB Mubader Center launches ‘E-Cothon' digital commerce competition

Kuwait, 24 April 2024: KIB Mubader Center, the subsidiary of Kuwait International Bank (KIB), announced the launch of the country’s first e-commerce marathon. Taking place on May 1st, ‘E-Cothon’ aims to foster entrepreneurial spirit and innovation, enhancing sales skills via social media platforms and equipping entrepreneurs with the knowledge to create effective marketing strategies. Commenting on the initiative, Mohammad Al-Huwaidi, Head of Mubader, said: "Organizing the digital commerce competition 'E-Cothon' is part of KIB Mubader Center's ongoing commitment to actively contribute to the development of a generation of talented Kuwaiti entrepreneurs and meet the needs of local business leaders. By providing the modern and comprehensive entrepreneurial environment they seek, KIB Mubader aims to ......read more

SAP Appoints New Managing Director for Kuwait

Sundus Bushahri will focus on growing SAP's footprint in Kuwait and supporting national digitalization and training targets, while championing the role of women in technology KUWAIT CITY, Kuwait — 23 April, 2024 — Global technology company SAP has announced the appointment of Eng. Sundus Bushahri as Managing Director for its Kuwait operations. With more than 15 years of experience gained at large multinationals and Fortune 500 companies, Bushahri will lead her team in supporting Kuwait's ambitious digitalization and workforce training agenda, helping companies to leverage the enormous potential of cloud computing and business AI. "Kuwait is a highly significant growth market for SAP – one that is rapidly embracing digital transformation and working towards the creation of a sustainable workforce ......read more

Other Top Stories from Banking and Investments
 
KIB announces winners of Al Dirwaza account's weekly draw April 2024…

The best account of its kind in Kuwait in terms of the number of winners and offering the highest monthly expected returns Kuwait, 23 April 2024: Kuwait International Bank (KIB) announced the winners of the Fourth weekly draw held under the Al Dirwaza account’s 2024 campaign, which is distinguished by the highest number of winners throughout the year. The weekly draw, based on ......read more

KIB recognized as ‘Best Bank in Financial Literacy Program MENA' by CFI.co…

Kuwait, 20 April 2024: Kuwait International Bank (KIB) is pleased to announce that it has been recognized as the "Best Bank in Financial Literacy Program – MENA 2023" by the prestigious Capital Finance International (CFI.co) magazine awards. This win highlights KIB's unwavering commitment to promoting financial literacy and empowering individuals to make informed financial ......read more

Burgan Bank Continues Its Support for KACCH & BACCH for the 23rd Consecutive Year…

As part of its comprehensive social responsibility program and active community engagement efforts Kuwait, 21 April 2024: Burgan Bank announced it continues annual support for the Kuwait Association for the Care of Children in Hospital (KACCH) and Bayt Abdullah Children's Hospice (BACCH) for the 23rd consecutive year. The Bank’s unwavering support for KACCH and BACCH has taken ......read more

Burgan Bank Sponsors the Bristol Rovers Football Academy…

Confirming its commitment to empowering Kuwaiti youth in sports Kuwait, 18 April 2024: Burgan Bank announced its sponsorship of the UK-based Bristol Rovers Football Academy in Kuwait; its latest bid to advance the sports culture in Kuwait and encourage youth to adopt a healthy lifestyle. This initiative comes as part of the Bank’s expansive social responsibility program and its ......read more

Burgan Bank Adds Birthday Leaves to Employee Benefits…

Confirming its commitment to securing the highest levels of employee satisfaction Kuwait, 17 April 2024 In its latest bid to elevate its employees’ work experience, Burgan Bank announced that all staff are now eligible for a one-day paid birthday leave. This comes as part of Burgan Bank’s continuous efforts to reinforce its positive work environment by catering to its ......read more

Burgan Concludes Sponsorship of Kuwait Equestrian Federation's 2023/2024 Tour…

As part of its comprehensive social responsibility program and sports-focused community strategy Kuwait, 16 April 2024: Burgan Bank concluded its strategic sponsorship of the Kuwait Equestrian Federation (KEF) Tour for the 2023/2024 season, continuing its dedicated efforts to help elevate the local sports scene. A highlight in the country’s sporting calendar, the Bank’s ......read more

KIB announces winners of Al Dirwaza account's monthly and weekly draw…

The best account of its kind in Kuwait in terms of the number of winners and offering the highest monthly expected returns Kuwait, 9 April 2024: Kuwait International Bank (KIB) announced the winners of the monthly and weekly draw held under the Al Dirwaza account’s 2024 campaign, which is distinguished by the highest number of winners throughout the year. The monthly and weekly draw, ......read more

Burgan Bank continues to serve Its customers during Eid Al-Fitr holiday…

Kuwait, 9 April 2024 Burgan Bank announced that it will be closing all branches starting Tuesday April 9, 2024, on the occasion of the Eid Al Fitr holiday. The Bank will resume normal operating hours at all branches on Sunday, April 14, 2024. However, to accommodate Burgan Bank customers, the Airport Branch will continue to operate around the clock during the holidays, with only a short break ......read more

KIB concludes its annual Ramadan campaign with numerous humanitarian initiatives…

Kuwait, 8 April 2024: Kuwait International Bank (KIB) recently concluded its annual Ramadan campaign, which included a diverse range of initiatives and activities aimed at positively impacting the community and providing support to all its segments and individuals. This important step came within the framework of the Bank's renewed commitment to its comprehensive social responsibility ......read more

Ro'ya Talent Program Concludes, Marking Milestone for Burgan Bank's Leadership Development…

Cementing its commitment to the nationwide development of Kuwait’s human capital Kuwait, 8 April 2024: Burgan Bank recently celebrated 37 of its high-potential, aspiring talents who graduated from the second round of the Bank’s flagship talent development program, Ro’ya. The Bank’s management attended the graduation ceremony in recognition of the graduates’ ......read more

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