Business
Gulf Bank Shortens Working Hours to Support Employee Wellbeing and Work-Life Balance
KUWAIT CITY, Apr 17: As part of its ongoing efforts to create an ideal work environment that reflects its deep commitment to employee wellbeing and work-life balance, Gulf Bank has announced a reduction in daily working hours by half an hour. This change will take effect starting May 1, 2025, and stands as a testament to the Bank’s continued dedication to fostering a supportive and balanced workplace.
On this occasion, Mrs. Salma Al-Hajjaj, General Manager of Human Resources at Gulf Bank, stated:“We firmly believe that achieving a healthy balance between professional and personal life is a key factor in enhancing employee performance and productivity. This initiative reflects the Bank’s genuine care for the physical and mental wellbeing of its employees.”
Mrs. Al-Hajjaj emphasized that this change will not affect branch operating hours, which will continue as per the existing schedule, ensuring uninterrupted services and a consistently high standard of customer experience.
She added:“Recent studies have shown that shorter working hours contribute to higher job satisfaction and help reduce stress and fatigue—an outcome that Gulf Bank actively strives for, as our employees are the backbone of our success and a core part of our reputation as a leading bank in the Kuwaiti banking sector.”
She further noted that this step reinforces the Bank’s commitment to building a supportive work culture, where every employee feels valued and respected and is given the space to grow both professionally and personally.
“We believe that when employees feel fulfilled and supported, they’re empowered to be more innovative, engaged, and productive. That’s why we remain committed to introducing initiatives that enrich our workplace culture and inspire our teams to reach their full potential,” she explained.
Mrs. Al-Hajjaj concluded:“At Gulf Bank, we take great pride in being a leader in human capital investment—whether through cultivating a positive work environment or through the continuous development of our employees. By partnering with top local and international institutions, we ensure our teams receive world-class training and access to the latest industry knowledge, equipping them to thrive amid the dynamic changes shaping the banking sector both locally and globally.”
Gulf Bank aims to be Kuwait’s leading bank, fostering a diverse and inclusive workplace to deliver exceptional customer service while contributing sustainably to the community. Through its extensive branch network and innovative digital services, the Bank empowers customers to conduct banking transactions conveniently and efficiently, ensuring a seamless experience.
In alignment with Kuwait Vision 2035, “New Kuwait,” and its commitment to fostering collaborative partnerships, Gulf Bank is dedicated to driving robust sustainability initiatives across environmental, social, and governance (ESG) dimensions. The Bank is committed to implementing strategically selected and diverse sustainability programs both internally and ex-ternally.
The Kuwait government approves tougher measures to tackle financial crimes.
KUWAIT CITY, June 30: Kuwait is intensifying efforts to combat money laundering and terrorist financing by enhancing its legislative framework, announced Minister of Finance and Minister of State for Economic Affairs and Investment Noura Al-Fassam on Monday.
The minister spoke in a statement issued by the Ministry of Finance following the publication of Decree Law No. (76) of 2025 in the official gazette, Kuwait Today. This decree introduces important amendments to Law No. (106) of 2013, reflecting Kuwait’s integrated government efforts to strengthen measures against financial crimes.
During the Cabinet meeting on June 17, the draft of the amended decree law was approved, underlining Kuwait’s commitment to raising the effectiveness of the national response to money laundering and terrorism financing. The amendments align with the requirements of the Financial Action Task Force (FATF) and relevant international standards.
The new decree law includes two significant amendments:
- Article One replaces Article (25) of Law No. (106) of 2013, empowering the Council of Ministers, upon the recommendation of the Minister of Foreign Affairs, to issue necessary decisions to implement United Nations Security Council resolutions related to terrorism, terrorism financing, and the proliferation of weapons of mass destruction under Chapter VII of the UN Charter. These decisions will take effect immediately upon issuance, consistent with Security Council Resolution No. 1373 of 2001. The executive regulations will define the rules for publishing these decisions, appealing them, authorizing the release of frozen funds for essential living expenses, and managing such assets.n
- Article Two adds a new Article (33 bis) to Law No. (106) of 2013, stating that any violation of decisions issued under Article (25) will result in fines ranging from 10,000 to 500,000 Kuwaiti dinars per violation. This penalty complements any additional sanctions imposed by regulatory authorities on financial institutions or designated non-financial businesses.n
The Ministry emphasized that these amendments support the National Committee for Combating Money Laundering and Terrorism Financing by broadening its powers to apply targeted financial sanctions in compliance with FATF standards. This includes the mandatory freezing of assets belonging to individuals and entities listed locally as terrorists, effective immediately upon decision issuance.
Furthermore, the amendments enable the Committee to impose fines on violators and require publishing the national list of designated terrorists on the Committee’s official website, enhancing transparency and meeting international obligations.
Minister Al-Fassam concluded that the updated legislative measures reaffirm Kuwait’s strong commitment to fighting financial crimes, safeguarding national security and stability, and fulfilling its global responsibilities.
Updated regulations aim to boost fair use and revenue from state properties.
KUWAIT CITY, June 30: The Ministry of Finance announced on Sunday the issuance of a new ministerial decision amending the regulations governing the use of state-owned real estate and service fees, in a move aimed at achieving a fair balance between public interest and the needs of individuals and institutions.
In a press statement, the Ministry said the decision comes as part of its broader efforts to regulate the use of government-owned properties and protect national resources. Ministerial Resolution No. 54 of 2025 introduces amendments to the regulations first outlined in Resolution No. 40 of 2016.
Minister of Finance and Minister of State for Economic Affairs and Investment, Eng. Noura Al-Fassam, stated that the amendments are intended to ensure fairness, clarify procedures, and improve transparency in the utilization of state assets.
“These changes aim to establish a fair balance in how state-owned properties are used by citizens and entities, while safeguarding public interests,” Al-Fassam said.
She added that the updated regulations were the result of a comprehensive pricing study comparing Gulf and international markets. The amended prices remain below average rates in Gulf Cooperation Council (GCC) countries, and were developed with Kuwait’s economic and social conditions in mind. The goal, Al-Fassam noted, is to promote equal opportunities and secure sustainable revenue streams for the state.
The amendments cover a wide range of activities involving the use of state-owned property, including chalets, rest houses, commercial complexes, cooperative societies, banks, and warehouses. They also apply to educational institutions, sports clubs, and hospitals.
In support of national food security and the promotion of local production, the Ministry also announced the stabilization of agricultural coupon prices under the new regulations.
The revised framework reflects Kuwait’s continued efforts to modernize its public asset management policies while maintaining a strong emphasis on economic fairness, efficiency, and sustainability.
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