As part of its efforts towards advancing the local and regional banking sectors

Kuwait - 24, December 2022:  Burgan Bank recently hosted the 8th annual Chief Risk Officer’s (CRO) conference in Kuwait, which was attended by the Burgan Bank Group Risk Heads, as well as CROs from various KIPCO Group owned Financial Institutions. This conference comes as part of the Bank’s efforts to play an active role in advancing and developing the banking sector in Kuwait, especially in terms of strengthening the country’s risk infrastructure.

The conference opened with a welcome note from Mr. Raed Abdullah Al-Haqhaq, Deputy Group Chief Executive Officer & CEO – Kuwait at Burgan Bank, lauding the collaborative efforts between the participating entities. He also emphasized how elevating the banking ecosystem in Kuwait and the region is a critical goal - one that can only be achieved with the proper analysis of potential risks and adequate, timely response to them.

Mr. Raed Al-Haqhaq further highlighted the importance of the Risk Department in supporting the Business and the Group’s strategy for driving the economy forward while taking measured risks as per the market’s appetite and capacity. “At Burgan Bank, we aim to provide our customers with the best banking experience possible, which means always being up-to-date of their ever-changing needs and growing aspirations,” says Mr. Al-Haqhaq. “However, every step that we take forward must be preceded with impeccable risk assessment that guarantees the safety of our customers’ data privacy, investments, and savings.”
On his part, Mr. Andrew Christopher Singh, Group Chief Risk Officer, reaffirmed Burgan Bank’s strategic commitment to adhering to the highest international standards across its operations, especially with regards to risk assessment and management. 

“These efforts are particularly notable on the digital front of the Bank’s service and product development, given the constantly evolving cyber-security threats which demand undivided attention to curb and eliminate them”, added Mr. Singh.
The two-day conference witnessed many important discussions and presentations which covered an array of topics including: market-specific risks, macro environment in the GCC and MENAT, cyber risk, zero trust strategy, Environmental, Social and Governance (ESG) risks, the future of risk and non-financial risks, the risk culture, and digitalization of risk in banks, among others.

Burgan Bank continues to uphold its position, as a leading national financial institution, in advancing Kuwait’s financial and banking sector. This includes organizing, hosting and participating in a wide range of events and activities that aim at sharing the latest in the global banking industry with all market peers. The Bank exerts these efforts in a bid for the local market to advance collectively, thereby providing customers with a seamless banking experience that meets their spoken and unspoken needs, while contributing to the development and growth of Kuwait’s local economy.