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KFH: Pioneering National Economic Support for State Development Goals

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KUWAIT CITY, May 18: Kuwait Finance House (KFH) participated as a Platinum Sponsor of the 3rd ‎Kuwait Public Private Partnership conference (PPPKW3), affirming its ‎standing as a key partner in financing strategic development projects. This ‎sponsorship reflects KFH’s commitment to supporting initiatives that ‎advance major projects contributing to the achievement of Sustainable ‎Development Goals in Kuwait.‎

The two-day event, taking place on May 18 and 19, is titled: “Partnership ‎Projects: Promising Leap in the New Era”. The conference is held under the ‎patronage of Kuwait Minister of Finance, Minister of State for Economic ‎and Affairs and Investment, and Chair of the Higher Committee for Public-‎Private Partnership Projects, Noura Al-Fassam.‎

Addressing the audience, KFH Deputy Group CEO Transformation, ‎Technology and Operations, Haytham Alterkait, said in his speech: “Our ‎participation emanates from KFH’s national and economic commitment in ‎supporting the State’s development plans, capitalizing on its capabilities to ‎enhance the economic environment, promote green financing, and uphold ‎Environmental, Social, and Governance (ESG) standards.”‎

Alterkait pointed out that KFH enjoys robustsolvency and is well-positioned ‎to finance mega projects across key sectors such as energy, water, ‎electricity, and infrastructure. “This is supported by the KFH’s extensive ‎experience, solid financial position, high-quality credit portfolio, and its ‎position as the largest bank in Kuwait and the largest listed company on ‎Boursa Kuwait by market capitalization, amounting to approximately KD ‎‎13.7 billion,” he added.‎

Alterkait underscored the significance of the Public-Private Partnership ‎Projects in strengthening the national economy, generating employment ‎opportunities, improving quality of life and maintaining service quality. He ‎emphasized the private sector’s expertise in financing, building, and ‎operating projects in alignment with Kuwait Vision 2035, expressing ‎confidence in the government’s ability to build a better future for Kuwait.‎

The conference aims to accelerate the implementation of development ‎projects and Kuwait’s vision by engaging the private sector in execution ‎plans. This aligns with the global trend, where both developed and ‎developing countries adopt the PPP model as a means of concerted efforts ‎for national progress. The model ensures optimal utilization of both sectors’ ‎capabilities.‎

The conference also seeks to promote capacities across various technical ‎domains and clarify the responsibilities of each sector. Adhering to ‎international standards, the PPP approach enables the attraction of top ‎global, regional, and local expertise, enhancing the execution of projects ‎with best-in-class tools and frameworks for professional, technological, and ‎legal development, in line with international specifications and sound ‎governance.‎

Meanwhile, the conference successfully brought together prominent ‎leaders and experts in the PPP space, along with key institutions from both ‎the public and private sectors. Participants benefited from the conference ‎program, including lectures, panel discussions, side meetings, and an ‎exhibition featuring sponsoring companies and specialized institutions ‎showcasing their services and partnership solutions.‎

It serves to note that KFH offers top-tier financing solutions for projects in ‎vital sectors in Kuwait and the region. Leveraging its rooted experience in ‎the financing markets and strong relationships with leading regional and ‎international banks, KFH is well positioned to serve as the ideal Lead ‎Arranger in syndicated financing initiatives.‎

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Zain recognized for empowering national talent in the private sector

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KUWAIT CITY, May 18: Zain received a recognition from the American University of the Middle East (AUM) in ‎appreciation of its ongoing efforts to empower the local job market with skilled national talent ‎capable of leading Kuwait’s digital future. The recognition was presented during the university’s ‎annual Excellence Awards ceremony honoring leading companies, held at the Cultural Center ‎on its Egaila campus.‎

During the event, Tareq Al-Othman, Chairman of HumanSoft Holding, presented the award to ‎Hamad Al-Musaibeeh, Corporate Relations Department Manager at Zain Kuwait, in recognition ‎of the company’s continuous support of the AUM Career Expo. Zain recently sponsored the ‎expo’s 11th edition, which was also attended by AUM President, Prof. Dr. Georges Yahchouchi.‎

The award highlights the strength of the long-standing partnership between Zain and AUM, and ‎Zain’s strategic role in consistently attracting and developing national talent for the private ‎sector. This contribution helps strengthen the presence of local competencies in the job market, ‎especially in skillsets related to STEM.‎

Zain expressed its gratitude to AUM for this recognition, viewing it as a meaningful ‎acknowledgment from one of the country’s leading academic institutions of the company’s role ‎in supporting the development of both education and human capital, two key pillars for ‎advancing Kuwait’s economy.‎

Zain recently participated in the 11th AUM Career Expo, organized by the university’s Career ‎Development and Placement Center (Tawteen), under the theme “We Believe in Talents, We ‎Create Opportunities”. The event stands as one of the largest and most prominent career fairs ‎in Kuwait, with participation from over 55 local and international organizations offering more ‎than 300 job opportunities for graduates and job seekers.‎

At its dedicated booth, Zain showcased its recruitment policy and available career ‎opportunities, while also introducing university students to its Future University Network (FUN) ‎internship program, aimed at providing hands-on experience from the actual workplace ‎environment.‎

Through such initiatives, Zain aims to energize the local labor market, foster the exchange of ‎knowledge and expertise, and enable young people to find career paths that match their ‎ambitions and capabilities, ultimately contributing to the national economy and boosting ‎national talent participation in Kuwait’s private sector.‎

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Burgan Bank Reiterates Commitment to Women ‎Empowerment at Kuwait Women’s Day Forum

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KUWAIT CITY, May 18: As part of its unwavering dedication to employee empowerment, gender equity, and sustainable ‎development, Burgan Bank recently participated in a forum celebrating Kuwait Women’s Day. ‎Representing the Bank at the event, titled “Strategies to Empower Kuwaiti Women in ‎Accordance with the Fifth Goal of the Sustainable Development Goals (SDG 5)” and held under ‎the patronage and in the presence of H.E. Dr. Amthal Al-Huwailah, Minister of Social Affairs, ‎Family and Childhood Affairs, was Ms. Danah Faisal Al Jasem – General Manager of Corporate ‎Communications and a group of female leaders at Burgan Bank. Al Jasem took part in a focused ‎session along side distinguished female figures to discuss the private sector’s role in empowering ‎women, while exploring strategies to help women over come challenges and barriers in the ‎workplace.‎

Reflecting on her participation in the forum, Al Jasem said: “It was a privilege to join a dialogue ‎that reflects the growing momentum around women empowerment in Kuwait, and to contribute ‎to a conversation that aligns so closely with Burgan Bank’s core values and Kuwait’s Vision ‎‎2035.”‎

She also highlighted Burgan’s ongoing commitment to gender equity and employee ‎empowerment, saying: “At Burgan Bank, fostering a diverse, equitable, and inclusive workplace ‎is not just a moral imperative but also a strategic necessity for long-term success. Driven by our ‎overall ESG strategy, we believe that true equity provides a work environment with equal ‎opportunities and adheres to fulfilling the employees’ needs. Accordingly, Burgan Bank actively ‎supports women in the workplace by expanding opportunities for skill development, career ‎advancement, and financial independence, empowering them to grow on a personal level, ‎support their families, and positively impact the wider economy. This commitment is reflectedin ‎equal benefits for women and men, flexible working hours, work-life balance initiatives, and ‎additional self-care leave.”‎

Ms. AlJasem also underscored the importance of translating strategy into measurable progress, ‎highlighting Burgan’s achievements in female representation and inclusive workplace practices, ‎noting: “We view female empowerment as a collaborative effort, shaped by contribution from ‎relevant stakeholders. Within the workplace, we are committed to fostering an environment ‎where women have equal opportunities to thrive and lead. Across society, we actively support ‎initiatives that promote gender equality and provide women with the resources and support they ‎need to overcome barriers and achieve their full potential. Women currently represent46% of the ‎Bank’s employeesand 34% of leadership positions, making Burgan Bank a leading financial ‎institution in the local Kuwaiti market. Our current position aligns with the national vision for ‎boosting female representation in public and private sectors.”‎

It is worth mentioning that Burgan Bank continues to invest in initiatives that support the growth ‎of female employees at all levels. In 2024, employees received an average of 33 hours of ‎training, delivered through both digital and in-person platforms. Programs like Empower Her and ‎Lean-In Circle for Women Empowerment provide dedicated mentorship, professional skills, and ‎networking opportunities to help women work toward their goals. Burgan Bank remains ‎committed to enabling more women to pursue leadership positions and guide younger ‎generations of women professionals to follow their lead. ‎

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UPAC Reports Q1 2025 Financial Results

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KUWAIT CITY, May 18: United Projects for Aviation Services Company (UPAC), a commercial real ‎estate and facilities management company, today announced its financial results for the first quarter ‎of 2025. The company reported a net profit of KD 480 thousand, down 26% from 2024, or 1.19 fils ‎per share. The company’s recorded revenue for the quarter was KD 2 million, down 11% from 2024.‎

Eng. Hamad Malallah, Chief Executive Officer at UPAC, said: “UPAC’s results are in-line with our ‎expectations. The reduction in revenue is mainly attributable to airport-related services. We remain ‎committed to identifying and pursuing strategic business opportunities within our industry that drive ‎growth and create value for the company and its shareholders.”‎

Malallah continued: “Planning for the Al Messilah Beach Project (Plage-2) site has been progressing, ‎where our teams are working on preparing the project for its opening and operation, meeting the ‎relevant partners, and potential vendors who we will be working with on this exciting new project.”‎

Al Messilah Beach, one of Kuwait’s prime family entertainment destinations, was developed by ‎Touristic Enterprises Company as part of its role in spearheading growth of Kuwait’s tourism sector. ‎UPAC is managing all aspects of the site including leasing, entertainment activities, facility ‎management, and overall project operations.‎

UPAC is also a co-investor in Abu Dhabi’s $1.3 billion Reem Mall on Reem Island. The mall is the ‎region’s first fully integrated omnichannel retail ecosystem with digital, e-commerce, and logistics ‎capabilities. It brings together all consumer and retail services to ensure a seamless customer ‎experience. To date, 198 units are trading, and almost 80% of Gross Leasable Area (GLA) is ‎committed.‎

In Kuwait, UPAC manages operations of Kuwait International Airport’s real estate and parking ‎facilities at the Sheikh Sa’ad Airport Terminal (T3), and the development of Al Messilah Beach. ‎

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