With the participation of decision-makers, central bank governors, and top bankers from around the world

Kuwait, 23 May 2023: Kuwait International Bank (KIB) announced its diamond sponsorship of the Euro-Med Economic and Banking Summit 2023, set to take place from 24 to 26 May in Paris, France. The summit is organized by the Union of Arab Banks (UAB), in collaboration with the French Banking Federation, Union Bancaire Francophone, European Banking Federation, International Chamber of Commerce, French-Arab Chamber of Commerce, and the Union for the Mediterranean. Entitled “For a Sustainable Euro-Mediterranean Economic Relationship,” the summit will be held under the auspices of French President Emmanuel Macron and attended by Sheikh Mohammed Jarrah Al-Sabah, Chairman of KIB, and Board of Directors Member, Executive Committee Member, and the Head of the Investment Committee of UAB. This sponsorship comes within the framework of KIB’s strategy to contribute to economic and sustainable development efforts. It also aims at supporting trends geared towards facing economic and social challenges and enhancing cooperation and innovation that would lead to a safer future.

Commenting on the sponsorship, Sheikh Mohammed Jarrah Al-Sabah, Chairman of KIB, said: “As a leader among banking institutions, we are proud to participate in sponsoring this major event. The summit constitutes a unique opportunity to unite efforts in the face of various worldwide challenges, whether geopolitical, financial, or social. This initiative also reflects our continuous commitment to play an effective role that ensures the proper representation of the Kuwaiti banking sector in relevant international forums. In addition, our sponsorship demonstrates our great interest in having direct communication with global economic and banking bodies that enjoy forward-looking strategies and visions. Such entities are aligned with us on our path toward developing and upgrading all economic and financial aspects that ensure the maintenance of effective, safe and sustainable economic performance.” 

Al-Jarrah also pointed out the importance of the timing of this global summit and the workshops and talks that are to accompany it, given how the world is facing an unprecedented combination of high inflation in energy and food prices, increasing climate risks, and food insecurity. In light of expectations of a looming economic recession and the increasing volume of public debt, the long-term risks and repercussions of global events affect developing and developed economies and the future of the social and economic landscape and relations between all countries.

It is worth noting that KIB spares no effort in maintaining its leading role among advanced banking institutions, not only in the region but also on a global level. By participating in economic forums with added value, such as this summit and other high-level platforms which bring together economic, financial, and banking decision-makers to discuss means of drawing up a clear-cut global road map, KIB shares the goal of achieving sustainable relationships that contribute to mitigating the repercussions of the many growing challenges.