Kuwait, 29 September 2024: Kuwait International Bank (KIB) announced that its business incubator KIB Mubader Center has signed a memorandum of understanding and cooperation with the National Fund for Small and Medium Enterprise Development. The agreement aims to enhance collaboration and exchange expertise between the two parties to support the entrepreneurship sector in Kuwait.

In this regard, Abdulrahman Al-Kandari, Acting Director General of the National Fund for Small and Medium Enterprise Development, expressed his enthusiasm for the signing of the agreement, emphasizing that the partnership with KIB Mubader Center will open new avenues for fruitful collaboration between both parties. He also highlighted that this cooperation will actively contribute to empowering small and medium-sized business owners to achieve success and sustainable progress through support, guidance, and necessary training.

In his turn, Abdullah Al-Awadi, KIB's General Manager of Strategy, stated: 'The signing of this agreement is part of the Bank’s broader strategy to enhance its role in supporting the small and medium enterprise sector. This collaboration with the National Fund represents a key strategic step toward realizing KIB’s vision of building strong partnerships that strengthen national economic development efforts. Through this partnership, we aim to provide innovative and comprehensive solutions that address the needs of entrepreneurs and help them achieve success.'

From his side, Mohammad Al-Huwaidi, Head of KIB Mubader, said: 'This agreement will enable both parties to create conducive working environments for entrepreneurs, as well as provide services that meet their growing needs.' He also noted that the Kuwaiti market is experiencing significant growth in the entrepreneurship sector, highlighting the need for new programs and initiatives to support entrepreneurs at all stages of their projects and enhance their sustainability.