As part of its strategic efforts, the Central Bank of Kuwait (CBK) and Kuwaiti banks aim to enhance their role in serving the community, solidify a scientific approach to banking and financial affairs, and build highly qualified national capacities in the Kuwaiti banking and financial sectors. In his keynote address at the International Banking Conference: Shaping the Future, organized by the CBK on September 23, 2019, the Governor of the Central Bank of Kuwait announced the launch of the “Kafa’a” initiative to develop national cadres in the banking, financial, and economic sectors, in collaboration with Kuwaiti banks and Kuwait Institute of Banking Studies (KIBS).
In this regard, Dr. Mohammad Y. Al-Hashel, Governor of the Central Bank of Kuwait and Chairman of the Board of KIBS stated that the “Kafa’a” initiative is a comprehensive vision to develop the capabilities of Kuwaiti youth in economic, banking, and financial fields through a package of specialized programs targeting national cadres. These programs guide participants through various stages of professional development in banking, from university education to postgraduate studies and advanced professional programs, aiming for continuous development based on best practices in economic, financial, and banking fields.
Mr. Nasser Mubarak Abdullah Al-Sayer, Chairman of the National Bank of Kuwait, stated that this initiative represents a qualitative leap towards global standards, aligning with NBK’s strategic goal of developing human resources.
Mr. Hamad Abdul Mohsen Al-Marzouq, Chairman of the Board of Directors of Kuwait Finance House, mentioned that “KFH’s” commitment to supporting the “Kafa’a” initiative and the CBK’s strategy stems from a keen interest in enhancing efforts dedicated to developing national cadres, contributing to the advancement of the banking industry and the economy in general.
In the same context, Mr. Omar Quteiba Al-Ghanim, Chairman of the Board of Directors of Gulf Bank, emphasized that Gulf Bank’s support for this initiative is based on the belief that building and developing Kuwaiti competencies is a national responsibility and recognizing that investing in building young Kuwaiti talents is crucial to achieving strategic goals in the banking industry.
Mr. Majed Issa Al-Ajeel, Chairman of the Board of Directors of Burgan Bank, noted that this initiative aligns with the vision to transform Kuwait into a global financial center, directly contributing to achieving this vision through expansion, development, and diversification at all levels.
Sheikh Ahmad Duaij Al-Sabah, Chairman of the Board of Directors of Commercial Bank of Kuwait, praised what this initiative offers to Kuwaiti youth, especially in encouraging rigorous scientific research in banking fields.
Additionally, Mr. Mahmoud Al-Falej, Chairman of the Board of Directors of Boubyan Bank, affirmed that human resources are capable of creativity, innovation, and self-actualization, provided there is an environment and means that enable them to achieve this, which cannot happen without collective support. Hence, the importance of this initiative and the contribution of Kuwaiti banks to its success.
Mr. Talal Mohammad Reda Behbehani, Chairman of the Board of Directors of Ahli Bank of Kuwait, expressed the bank’s pride in participating with local banks in supporting the CBK’s initiative to develop a comprehensive umbrella for the programs offered by the CBK and Kuwaiti banks. He added that Kuwaiti banks are committed to solidifying the scientific approach in banking and financial affairs and overcoming financial obstacles and crises through sound scientific planning.
Dr. Anwar Ali Al-Mudhaf, Chairman of the Board of Directors of Ahli United Bank, discussed the importance of the “Kafa’a” initiative and its role in keeping the banking sector in Kuwait aligned with developments in this field, affirming Ahli United Bank’s confidence in the capabilities and potentials of youth.
Sheikh Mohammad Jarrah Al-Sabah, Chairman of the Board of Directors of Kuwait International Bank, expressed his pleasure in the bank’s participation in the “Kafa’a” initiative, which aims to empower and develop young cadres, aligning with the bank’s objectives.
In a statement, Mr. Abdul Wahab Abdullah Al-Houti, Chairman of the Board of Directors of Warba Bank, expressed confidence that the “Kafa’a” initiative will be a trusted platform to provide the Kuwaiti banking sector with highly skilled professionals according to the highest global standards.
Mr. Musab Salem Al-Nisf, Chairman of the Board of Directors of the Industrial Bank, emphasized that investing in national cadres and competencies is one of the pillars of banking work, hoping that the “Kafa’a” initiative will achieve the desired success.
Prof. Yaqoub Al-Refaei, Director General of KIBS in a statement regarding the initiative, mentioned that KIBS’ is leveraging its five decades of experience to serve this strategic vision of building competencies capable of advancing the banking industry in Kuwait to higher levels.
