Business
NBK Celebrates the Graduates of the “Executive Leadership Development” Program in Collaboration with Harvard Business School
KUWAIT CITY, Apr 22: The National Bank of Kuwait celebrated the graduation of its trainees from the 16th iteration of the Harvard Business School program (HBS) “Executives Leadership Development” as part of “Kafaa” initiative by the Central Bank of Kuwait (CBK) in collaboration with the Kuwait Institute of Banking Studies (IBS).
This iteration of the program witnessed a big participation from NBK with 8 different department heads.
The ceremony was attended by representatives from CBK, local banks, participating companies from Kuwait and outside, as well as IBS and the graduates.
This year’s Executive Leadership Development program is titled “Strategic Leadership in the Age of Financial Sustainability” aimed at developing executive leaders in the financial and banking sector.
The program focused on highlighting concepts such as anticipating and responding quickly and electively to strategic opportunities and threats in financial markets, as well as better understanding and addressing the challenges faced today by senior financial executives.
Running for 6 days, the program explored using new technologies and competing with fin tech disruptors and understanding the risks and appropriate responses to cyber threats, in addition to managing and leading digital innovation and understanding and managing investor concerns around environmental, social, and institutional governance and sustainability.
Moreover, the program shed light on leader development through experiences, delved into disruptive leadership techniques, and highlighted the concept of leading and building a culture of innovation that enables transformation.
It should be noted that this program is held annually in alternating GCC countries with the objective of developing executive leadership in GCC banks and financial institutions as per the needs of the banking and financial sectors in the backdrop of a changing business landscape.
The program consisted of interactive lectures, simulations, and real-life case studies from distinguished Fintech experts at Harvard Business School aimed at enabling leaders to explore different visions for execution, gain the tools necessary for successful leadership, focus on the increasing shift towards global environmental sustainability and new technologies, as well as the way of achieving a successful digital transformation. Moreover, the lectures explored the influence of artificial intelligence on teamwork, team leadership, enhancing communication and leadership under stress, and promoting talent diversity.
On this occasion, Mr. Emad Al Ablani Group Chief Human Resources Officer said: “NBK’s participation in this executive development program in collaboration with Harvard Business School coms in line with its endeavors to prepare highly qualified banking professionals in all majors, especially in the digital field, which have become part and parcel of banking transactions using the latest cutting-edge technology and AI channels.”
“Our participants in the “Kafaa” initiative reflects our strategy to invest human capital by building qualified national leaders in the banking sector as per the latest and best international standards.”
Al Ablaniadded: “We strongly believe that investing in our employees in one of the main strategic pillars of achieving sustainable growth and guaranteeing the bank’s excellence and leadership. This is why we strive to provide the best training and development programs in collaboration with the biggest world institutions, to ensure building a flexible and dynamic workforce that can face future challenges and changing banking landscape.”
Al Ablanialso stated: “Building a flexible and dynamic workforce requires enabling future leaders and equipping them with the best and latest programs, which is why we make sure to participate in these initiatives and programs that achieve the bank’s aspirations on the long run and enhance sustainable efforts in the field of human resources.”
The National Bank of Kuwait dedicates all its efforts to develop its human resources and elevate as well as aid its employees’ capabilities with the needed experiences and skills, which further enhances its endeavors to build professionals that promote its long-term visions and enhance its sustainability plans.
Kuwait’s Minister of Finance Noura Al-Fassam in a group photo.
KUWAIT CITY, May 29: The Ministry of Finance said it won the third edition of the Sharjah Award for Public Finance (2024-2025) in recognition of its outstanding role in providing financial services. Representatives of 17 countries vied for the award, the Ministry noted in a press release on Wednesday. Minister of Finance Noura Al- Fassam stated that winning this award reflects the ministry’s efforts in improving the efficiency of financial performance and enhancing the quality of services provided. The ministry confirmed that it is continuing to develop financial services under directives from the Council of Ministers towards digitizing services. The statement added that Al-Fassam received the award on behalf of the ministry, which participated in the digital payment project for government services that enables government entities to purchase online, pay government fees, and meet various needs to fulfill their financial obligations. (KUNA)
Kuwait’s Finance Minister Noura Al-Fassam with Google Cloud’s Vice President of Customer Engineering for the Middle East, Africa and Europe Chris Lindsay in a group photo.
KUWAIT CITY, May 29: Kuwait’s Finance Minister Noura Al-Fassam held talks on Wednesday with Google Cloud’s Vice President of Customer Engineering for the Middle East, Africa and Europe Chris Lindsay, focusing on efforts to push forward a national digital drive. The digital transformation, including a transition into a cloud-based financial system that guarantees more “flexibility and transparency,” represents the focal point of economic reforms in Kuwait, according to a finance ministry statement.
Kuwait’s finance ministry will be among the first state bodies to make the transition into a digital system, which is a testament to its “commitment” to employ cutting-edge technology, such as Artificial Intelligence tools, in a bid to improve the quality of its services, the statement underlined. The talks come as part of the “strategic partnership” agreement between Kuwait and the US tech giant, which aims to develop advanced digital infrastructure across all state bodies, added the statement. It went on to espouse the merits of a full-fledged digital transformation, citing streamlined processes, data-driven decision-making and greater efficiency as chief among those benefits.(KUNA)
Minister of Finance, Eng. Noura Al-Fassam, and Undersecretary of the Ministry of Finance, Aseel Al-Munifi
KUWAIT CITY, May 29: Kuwait’s Ministry of Finance has been awarded the Sharjah Award for Public Finance 2024–2025 in the institutional category, recognizing it as a distinguished entity in delivering financial services. The award was granted among participants from 17 countries.
Minister of Finance and Minister of State for Economic Affairs and Investment, Noura Al-Fassam, stated in a press release on Wednesday that this recognition adds to the Ministry’s growing record in modernizing financial services. She emphasized that it reflects the ongoing collaboration across ministry departments to improve financial performance and enhance service quality.
Al-Fassam affirmed the Ministry’s commitment to further developing its financial services, in alignment with Cabinet directives aimed at digitizing services and achieving full digital transformation.
According to the statement, Undersecretary Aseel Al-Munifi accepted the award on behalf of the Ministry. The Ministry’s submission included its digital payment platform for government services—which supports local and credit card payments, the Stamp application, electronic wallets, Gulf cards, and Apple Pay— as well as a prepaid credit card project enabling government agencies to carry out online purchases, pay government fees, and manage financial obligations efficiently.
The Ministry noted that the award affirms its leading role in advancing financial legislation, modernizing government payment systems, and adapting to rapid changes in revenue collection and procurement. These developments are part of broader efforts to streamline documentation processes through digital platforms.
Held biennially, the Sharjah Award for Public Finance is organized under the patronage of Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah, and Chairman of the Executive Council. The award ceremony was presided over by Sheikh Mohammed bin Saud Al Qasimi, Chairman of the Sharjah Central Finance Department, and attended by ministers, undersecretaries, department heads, and representatives from the financial sector across the UAE and other Arab countries.
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