Kuwaiti banks showcase economic strength at IMF and World Bank meetings in Washington
The Kuwait Banking Association hosted a reception in Washington, D.C., recently, on the sidelines of the annual meetings of the International Monetary Fund (IMF) and the World Bank Group, under the patronage of Basel Al-Haroun, Governor of the Central Bank of Kuwait.
The event brought together senior Kuwaiti officials, banking leaders, and international financial figures to highlight the resilience and competitiveness of Kuwait’s economy.
Hamad Al-Marzouq, Chairman of the Kuwait Banking Association and Chairman of Kuwait Finance House (KFH) Group, emphasized that the participation of Kuwaiti banks in these global meetings provided an important opportunity to strengthen cooperation with international financial institutions and exchange expertise on global economic developments. He noted that Kuwait’s banking sector continues to demonstrate strong solvency, flexibility, and technological progress under the prudent supervision of the Central Bank of Kuwait.
Al-Marzouq explained that discussions during the meetings covered key global challenges such as slowing growth, inflationary pressures, and climate change, in addition to strategies for sustainable debt management and digital transformation. He added that KFH’s participation reflects the growing role of Islamic finance in supporting global financial stability and sustainable development.
Issam Al-Sager, Vice Chairman of the Kuwait Banking Association and Group CEO of the National Bank of Kuwait (NBK), said the event has become a major fixture on the international banking agenda, gathering decision-makers from Kuwait and abroad. He noted that the reception underscores the prominent status of Kuwait’s banking sector globally and its contribution to financial stability and sustainable growth.
Al-Sager added that the meetings served as a strategic platform to discuss global banking challenges, explore opportunities for cooperation in finance and investment, and promote innovation and sound governance. He affirmed NBK’s focus on human capital development and digital transformation to enhance customer trust and investor confidence.
Sheikh Ahmed Al-Duaij Al-Sabah, Chairman of the Commercial Bank of Kuwait, highlighted that participation in such international events strengthens the bank’s global presence and supports cooperation with leading financial institutions. He noted that the bank continues to invest in digital transformation to provide innovative and sustainable banking solutions.
Gulf Bank’s Acting CEO, Sami Mahfouz, and Raed Bukhamseen, CEO of Kuwait International Bank (KIB), both underscored the importance of such gatherings in enhancing international partnerships, supporting private sector growth, and promoting sustainable development.
Boubyan Bank’s Vice Chairman and Group CEO, Adel Al-Majed, and Warba Bank’s Vice Chairman, Bader Al-Shalfan, highlighted the growing global recognition of Islamic banking as a sustainable model balancing innovation with Sharia compliance.
Concluding the event, Al-Marzouq affirmed that the successful organization of the Kuwaiti Banks Reception reflects Kuwait’s positive image internationally, reaffirming the country’s standing as a strong and credible financial hub driven by a resilient and well-regulated banking sector.
