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Banking & Finance

NBK reports profit growth for first quarter of 2019

The National Bank of Kuwait (NBK) has announced its financial results for the first quarter of 2019. NBK reported a net profit of KD 107.7 million (US$ 354.1 million) which increased by 15.1% on the first quarter of 2018, with total assets increasing by 2.4% year on year to reach KD 27.4 billion (US$ 90.1 […]


Taking financial advice to the cloud

While banking has gone through some exciting changes in recent years, 2019 may just prove to be pivotal. Accenture believes this year is a potential tipping point for the industry and one key trend is the greater adoption of cloud and data analytics – which will enable retail banks to raise the bar on delivering […]


Microsoft holds ‘Banking Edition’ of CISO Executive Series for Kuwaiti FSI Professionals

Microsoft has held the ‘Banking Edition’ of its CISO Executive Series – a series for an elite set of top Chief Information Security Officers for Kuwait’s Finance sector professionals. The event, held at the JW Marriot, Kuwait City, was specifically tailored for the country’s banking industry to enable its professionals to overcome the rising challenges […]


Gulf Bank moves from paper to digital records with help of Alaris

Leading bank in Kuwait digitises 50 million documents using scanners from Alaris and expertise of Alaris’ partner Ashraf & Co Ltd. Alaris, a Kodak Alaris business, has announced that it has played a key role in Gulf Bank’s Digital Transformation. The bank has digitised 50 million documents using scanners from Alaris which has dramatically reduced […]


Kuwait Finance House adopts Blue-Prism’s robotic process automation solutions

Kuwait Finance House (KFH) has announced that it has adopted Robotic Process Automation solutions by Blue-Prism, built on Microsoft technologies. This makes KFH the region’s first company in the financial services industry (FSI) to implement a fully automated workflow system for retail credit and enables the organisation to empower its employees to better engage customers, […]


ECOH Conference discusses potential of Blockchain with support from NBK

The National Bank of Kuwait has sponsored the second annual ECOH Conference which held discussions about Blockchain technology and focused on the significance of this emerging technology and its growing use in business sectors. Organised by East Chain Co, the conference hosted professionals and entrepreneurs from around the world. Discussions explored the opportunities and possibilities […]


Commercial Bank of Kuwait launches virtual banking system powered by TrueConf

The Commercial Bank of Kuwait has deployed TrueConf’s video banking system to connect 68 remote bank branches with its headquarters and enable communication between customers and call centre agents. The traditional bank branch as we know it, with managers and tellers huddled in cubicles working on desktop computers, is due for change. The rise of […]


Central Bank of Kuwait’s CDO on transforming the country’s financial sector

With the rapid expansion of the FinTech sector in Kuwait, the country’s central bank is embarking on a landmark digitalisation programme. Tariq Al Usaimi, who as its head of digital strategy is leading the evolution process, tells us analytics and Big Data have become the foundation for transforming the financial sector. Tariq Al Usaimi, the […]


Kuwait announces launch of $200mn technological funding

Kuwait has announced the launch of an initiative to form a $200 million fund for investments in technology. Kuwaiti Deputy Prime Minister and Foreign Minister, Sheikh Sabah Al-Khaled Al-Hamad Al-Sabah, made the announcement at an Arab Economic Summit held in Beirut. The minister said the ‘economic co-operation’ of Arab countries should be the region’s primary […]


NBK launches NBK Direct Remit for immediate cross-border transactions

The National Bank of Kuwait (NBK) has launched NBK Direct Remit for cross-border live payments. The system uses RippleNet’s enterprise Blockchain technology solution to provide customers with a frictionless remittance experience and fast cross-border money transfer solutions. NBK Direct Remit is a fast remittance service available online 24/7 for all customers. The bank, which offers […]


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