The National Bank of Kuwait Announces its Strategic Partnership with the Future Investment Initiative (FII) Institute

May 27, 2024

RIYADH: National Bank of Kuwait (NBK), the leading financial institution in Kuwait, and FII Institute, a global non-profit foundation dedicated to making an Impact on Humanity, marked a significant milestone today with the official announcement of their strategic partnership. The signing ceremony, held in Riyadh, brought together Anas AlUbaid, GM of NBK KSA; Musaad AlSudairy, CEO of NBK Wealth KSA; and Rakan Tarabzoni, COO of FII Institute, to set the stage for a transformative collaboration aimed at fostering growth and driving innovation in investment within the region and beyond.

Combining NBK’s legacy of financial excellence and FII Institute’s unwavering commitment to shaping the future through its impactful global initiatives, this partnership represents a powerful union of expertise and vision. With a shared dedication to driving positive change through the power of investment, NBK and FII Institute will join together to drive innovation.

This strategic partnership comes on the heels of the announcement of the 8th edition of the Future Investment Initiative (FII8) conference set for October 29-31 in Riyadh under the theme “Infinite Horizons: Investing Today, Shaping Tomorrow.”  It promises to convene today’s greatest minds to share their global perspectives, unlocking new frontiers for human advancement and impactful innovation. FII8 stands poised to transcend limitations and explore boundless opportunities for progress.

In statements echoing their enthusiasm for the partnership, the CEO of NBK Wealth KSA and the GM of NBK KSA expressed their confidence in the transformative impact that this collaboration will bring to the financial sector and beyond, Musaad AlSudairy, CEO of NBK Wealth KSA said, “We are thrilled to announce our collaboration with the FII Institute, a strategic alliance that will empower our clients globally and catalyze sustainable development. Together, we are not only investing in a brighter future but also unlocking new pathways for innovation, growth, and community prosperity. This partnership to address key global issues aligns perfectly with NBK’s commitment to creating meaningful impact. Collectively, we will explore actionable solutions of the future, reinforcing our shared dedication to a sustainable and prosperous future.”

Anas AlUbaid, GM of NBK KSA, underscored this sentiment by highlighting, “At NBK, we share the FII Institute’s dedication to addressing global challenges through collaboration and innovation. By aligning our efforts, we aim to leverage our combined expertise to generate insights and solutions that will drive sustainable growth and improve lives worldwide. This partnership represents a significant step towards creating a more resilient and equitable future, benefiting not only our clients but also the global community.”

Richard Attias, CEO of FII Institute, emphasized the importance of partnering with esteemed international institutions like the National Bank of Kuwait, known for its trusted seven-decade history and progressive approach to finance. He stated, “The deployment of strategic capital plays a crucial role in addressing the most pressing global challenges. Our collaboration with NBK represents a convergence of expertise and resources, advancing our collective mission to drive positive change and develop innovative solutions through our initiatives and programs.”

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About FII Institute:

The Future Investment Initiative (FII) Institute is global non-profit foundation with an investment arm and one agenda: Impact on Humanity. Global, inclusive, and driven by data: we foster great minds from around the world and turn ideas into real-world solutions and actions in four critical areas: Artificial Intelligence (AI) and Robotics, Education, Healthcare and Sustainability.

About the National Bank of Kuwait (NBK):

Established in the heart of Kuwait City in 1952, the National Bank of Kuwait S.A.K.P. (‘NBK’ or the ‘Bank’) stands as the cornerstone of the nation’s financial landscape. As the first shareholding company in Kuwait and the Gulf Cooperation Council (‘GCC’), NBK has been a steadfast pioneer, establishing itself as the country’s longest-serving local bank. With over 70 years of unwavering commitment, NBK has evolved into Kuwait’s preeminent financial institution, extending its influence far beyond national borders to captivate regional and global markets. Through a successful digital transformation journey, NBK has seamlessly blended tradition with innovation, earning acclaim and trust among stakeholders. Today, the Bank boasts a network of more than 140 branches spread across 13 countries, spanning 4 continents.

Established by a group of leading Kuwaiti merchants, NBK has retained its core shareholder base since inception. Its shares have been listed on the Kuwait Stock Exchange since 1984, with a single shareholder (the Public Institution for Social Security) owning more than 5% of the share capital (6.0% as of 31 December 2023). NBK’s market capitalization as of 31 December 2023 was USD 23.1 billion.

Renowned for its seasoned and stable management, NBK pursues a clear strategy aimed at strengthening its core business while expanding into new segments and markets. The Bank has consistently achieved remarkable profitability, resulting in robust shareholder returns. This success is underpinned by a portfolio of high-quality assets and a robust level of capitalization.

NBK prides itself in being a comprehensive financial partner, offering a diverse range of products and services. Catering to individuals, corporates, and financial institutions alike, NBK has solidified its position as Kuwait’s leading conventional banking Group in terms of assets, customer deposits, and customer loans and advances, all the while Empowering Tomorrow and Navigating a Digitized and Sustainable Future.