Kuwait, 2 September 2023: Kuwait International Bank (KIB) announced its diamond sponsorship of the 2023 Arab Banking Conference, organized by the Union of Arab Banks (UAB) and set to be hosted by the Saudi capital Riyadh on the 4th and 5th of September. Taking place in Hilton Hotel, and under the slogan “Arab Economic Outlook in Light of International Changes,” the conference will be attended by an elite group of leaders and specialists in the banking sector.

Commenting on the occasion, Othman Tawfeqe, General Manager of the Retail Banking Department at KIB, said: “This conference is a golden chance for banks and participating entities to share ideas and information about the challenges and opportunities within the Arab banking sector in light of the continuously changing international economic environment.” 

He added that the Bank’s diamond sponsorship of this vital conference reflects KIB’s commitment to supporting events and initiatives that foster the sustainable growth of the Arab banking sector and contribute to the cooperation between financial and banking bodies in all participating Arab countries. Tawfeqe also voiced his confidence in the conference, saying it would play an essential role in the strategy aimed at achieving the objectives of the sector and supporting the stability of the Arab economy.

Moreover, Tawfeqe pointed out that the slogan of the conference this year gains its importance due to the unprecedented acceleration in digital transformation in the world of finance and business with its various sectors, as well as the remarkable changes in international financial legislation. These changes pave the way toward creating unique opportunities for diversity and flexibility, leading to an integrated and healthy digital Arab economy that plays an effective role in enhancing the well-being of Arab citizens.

The conference, held under the patronage and presence of the Governor of the Saudi Central Bank (SAMA) Ayman Mohammed Al-Sayari, is scheduled to discuss multiple pivotal topics. These include Arab economic transformations and policies adopted for economic diversification; risks of slowing global growth and rising financial threats; Saudi Vision 2030 and the Kingdom’s experience in economic development and transformation; digital transformation in financial sectors and the role of financial technology in economic diversification; sustainable financing and the banking sector’s contribution to financing growth and development; and financial legislation and its role in promoting financial stability.

It is worth noting that KIB is keen to maintain its leading position among banking institutions and to establish sustainable relationships. To this end, the Bank continues to participate in economic forums that offer added value, such as the annual Arab Banking Conference, which brings together a group of banking sector leaders at the regional level to discuss issues that would enhance the overall financial and economic performance of the Arab region.