Kuwait, 2 December 2024: Kuwait International Bank (KIB) has been recognized by the World Union of Arab Bankers (WUAB) with the prestigious “Excellence in FinTech Innovation & Digital Leadership in Kuwait for the Year 2024” Award. Presented to the Bank during the 10th Arab Banks Awards and Commendations of Excellence 2024 ceremony held in Cairo by the union’s Banking Executive Magazine, this accolade reflects KIB’s unwavering commitment to advancing financial technology and driving digital innovation across the Kuwaiti banking sector.

The rigorous selection process conducted by the Awards Committee was based on comprehensive criteria and data spanning 2023 and 2024. The criteria included commitment to fintech innovation, AI and machine learning integration, focus on cybersecurity and data privacy, digital inclusion and financial literacy initiatives, and commitment to sustainability through digital practices. This evaluation highlighted KIB’s ability to align with global standards, foster innovation, and prioritize customer-centric digital solutions.

Commenting on this achievement, Mohamed El-Shareef, General Manager of the Digital Innovation and Data Intelligence Department at KIB, said: “We are honored to receive this esteemed award from the World Union of Arab Bankers. The recognition affirms our Bank’s dedication to embracing the future of banking through technological excellence. We are proud to be a driving force in transforming the way banking services are delivered in Kuwait, while remaining focused on enhancing the customer experience and fostering a digitally inclusive financial ecosystem.”

El-Shareef added: “Innovation is at the heart of everything we do at KIB, and it plays a vital role in driving our sustainable business practices. Our focus on advancing digital banking solutions, from enhanced mobile banking features to AI-powered, data-driven solutions and tools, reflects our dedication to offering seamless and engaging banking experiences for our customers.”

Pointing out KIB’s commitment to cybersecurity and privacy, El-Shareef said: “Digital trust is non-negotiable in today’s banking landscape. At KIB, we have prioritized advanced cybersecurity systems and stringent data privacy measures to ensure our customers' information remains safeguarded at every step.”

El-Shareef also highlighted KIB’s dedication to financial literacy and digital inclusion, saying: “KIB never takes its eyes off the mission to empower all members of society, promoting financial literacy and offering accessible digital platforms. Through initiatives such as those supporting the ‘Let’s Be Aware’ (Diraya) campaign, which was launched by the Central Bank of Kuwait (CBK) and Kuwait Banking Association (KBA) in cooperation with local banks, we are helping individuals and businesses alike navigate the digital age with confidence.”

It is important to mention that the World Union of Arab Bankers, headquartered in the Lebanese capital Beirut, comprises more than 500 members from the Arab banking sector. The organization publishes The Banking Executive Magazine, which began organizing the Arab Banks Awards and Commendations of Excellence in 2015. It has since become one of the most prominent events in the Arab banking industry, presenting annual awards to more than 50 Arab banks.

It also serves to note that KIB remains dedicated to contributing to shaping the future of banking in Kuwait through a blend of technological innovation and strategic foresight. The Bank constantly strives to bring a seamless, modern, and safe banking experience to all segments of society, stemming from its main slogan ‘Bank for Life’.