KUWAIT CITY, October 29: In line with its proactive role in participating in vital discussions on the latest developments and economic challenges facing the world that require global coordination, Burgan Bank recently joined world-leading financial institutions and global decision-makers at the 2024 Annual Meetings of the Boards of Governors of the World Bank Group (WBG) and the International Monetary Fund (IMF), held in Washington, D.C., USA on October 21-26.Attending the event on behalf of Burgan Bank were Mr. Tony Daher, Group Chief Executive Officer; Mr. Abdullah Marafie, General Manager – Treasury and Financial Institutions; and Mr. Abdullah AlSharekh, Board Member.

In parallel to the annual meetings, the Burgan Bank representatives also attended the Kuwaiti Banks Evening Reception hosted by the Kuwait Banking Association (KBA) under the patronage of His Excellency, the Governor of the Central Bank of Kuwait (CBK) Basel Ahmad Al-Haroon at Conrad Washington DC. The customary reception gathered the most influential Kuwaiti banking and financial institutions to discuss potential opportunities for collaboration, share insights about Kuwait-specific challenges and solutions, and review the country’s progress in advancing its overall economic landscape. The KBA reception also served to cement Kuwait’s robust economic system and resounding financial influence in the region and across the global market.

“It is an honor for us to, once again, be present among the world’s most visionary and influential financial key players whose strategies and initiatives impact millions of lives worldwide,” said Mr. Marafie.“The global economic dynamics are in constant motion and in order to succeed on a domestic, regional, or international level, it is vital to continue being a vocal participant in the conversation. For decades, Burgan Bank has contributed effectively to the advancement of banking in Kuwait and the region by adopting sustainability, innovation, digital transformation, and human capital development as primary institutional pillars. Our participation in the 2024 Annual Meetings is an extension of our unwavering efforts to remain at the forefront of global banking advancement.”

“In today’s hyper-globalized financial market, it is of greater importance than ever before to work together toward achieving banking sustainability and inclusive financial enablement for more beneficiaries globally. With the constant introduction of new financial technologies as well as the rise of new political, economic, and environmental threats, financial institutions must continue to innovate solutions that maintain financial stability and inclusion,” added Mr. Marafie.

This year’s agenda included some recurring topics such as climate change and its impact on financial stability and social inclusion as well as more novel ones including the impact of artificial intelligence (AI) and digital currencies on the global financial system and domestic markets. The talks and panel discussions were delivered and attended by central bankers, ministers of finance and development, private sector executives, representatives from civil society organizations, and academics from around the world.

As a leading financial institution, Burgan Bank remains adamant about participating proactively in all domestic, regional, and global events that contribute to shaping and developing the world economic system and sharing valuable insights from its long and prosperous banking and financial journey.