Kuwait City, Nov 5: Following its successful strategic partnership with the National Leadership Institute (NLI), Kuwait Finance House (KFH) has concluded its effective participation in the (Breaking Barriers) conference.

The conference brought together participants from different sectors, notable financial institutions, and field experts who discussed key aspects of digital transformation, woman empowerment, diversity, and inclusion, as well as emerging technologies.

KFH Group Chief Human Resources and Transformation Officer, Zeyad Abdullah Al Omar affirmed that KFH’s participation in the conference was highly successful, attaining its desired objectives with substantial input from the Bank’s executive leadership through diverse discussions and workshops, thereby delivering real value to the participants and audience.

In his statement, Al Omar added that KFH’s contribution to the conference stems from its keenness to develop and empower the national leadership capabilities, in addition to its interest in enhancing the education system in Kuwait by participating in all the relevant initiatives and events, which constitute a valuable opportunity to address challenges and explore new avenues that contribute to accelerating knowledge transfer, empowering the next generation of national talents, focusing on innovation and forming purposeful partnerships for rising leaders amid a rapidly developing global scene.

“KFH is well aware of the digital transformation importance, which is why the Bank has been keen on investing extensively in the field, making KFH the leader of digital transformation in the region. Further, KFH’s digital efforts in leading the competition, enhancing market share, expanding, and diversifying its customer base, in addition to achieving growth in operating income have reflected positively on its financial results,” Al Omar added.

He went on to say that KFH focused on consolidating the work efficiency of its employees in order to achieve sustainable growth and create an equipped workforce ready to transition from the traditional workplace to a digital and innovative work environment that promotes productivity and empowerment. He noted that KFH was the first bank to implement the ORACLE Cloud system sector wide.

He pointed out that KFH’s strategy, as the largest bank in Kuwait and the second largest Islamic bank in the world, focuses on inclusion and diversity, which is evident through its efforts in empowering women, recruiting and training skilled national cadres, and providing equal opportunities.

In terms of leadership development, Al Omar mentioned that KFH partnered with world-class universities and reputable educational institutions to conduct tailored training programs, in addition to launching KFH Digital Academy, reflecting KFH’s belief that human resources are the core assets of success.

Positive community interaction – Yousef Al-Ruwaieh

KFH Deputy General Manager Public Relations and Media, Yousef Abdullah Al-Ruwaieh said that KFH’s participation affirms its prominent role in the community, noting that the Bank’s active engagement during the conference has played a significant role in fostering positive community interaction. This further underlines KFH’s dedication to supporting events that reinforce the abilities of both the youth and the broader community.

He went on to say that KFH’s interest in taking part in such events stems from the substantial positive influence they have on improving the skills and knowledge of youth across a range of sustainability-related subjects, which, in turn, aids in boosting the community’s educational aspects and empowering its youth.

He explained that the conference encompassed a number of discussion panels and workshops for exchanging ideas and experiences among different segments of society, adding that these sessions are an opportunity to address key topics that are of importance to the community and work environment. The sessions also raise awareness on the significance of knowledge, entrepreneurship as well as supporting Kuwaiti youth in implementing value-adding projects for the community.

Al-Ruwaieh also emphasized that KFH highly values knowledge and youth, endorsing initiatives that foster the growth of leadership abilities, enhance efficiency, and align with worldwide advancement in business and human development, all while adhering to social responsibility principles.

“KFH’s participation in the conference provided an additional advantage, enabling connections with prominent international figures across various industries” added Al-Ruwaieh.

He commended KFH’s leaders participating in the workshops and exchanging their views with participants from different institutions, which contributed to the success of the conference.

He pointed out that KFH has a rich record of backing youth and initiatives dedicated to community development. It also boasts significant expertise in participating in conferences that have positive impact on knowledge transfer, serving as an important platform for youth and innovators to gain valuable insights and guidance from the discussions held during the conference.

The first discussion panel – Tareq Al-Ajeel

KFH Executive Manager Digital Transformation, Eng. Tareq Al-Ajeel participated in the first discussion panel held during the Breaking Barriers conference which focused on the role and significance of digital transformation.

Al-Ajeel stated that KFH online application has achieved massive success and was ranked first on Apple store, primarily for its efficiency, ease of use and innovative banking and financial solutions.

“At the end of Q3 of 2023, KFH customers carried out more than 152 million digital banking transactions through KFHonline on mobile and website, with a growth of about 40% compared to the same period last year,” he added.

Al-Ajeel pointed out that this remarkable growth in customer usage of online digital banking affirms KFH’s leadership in offering innovative digital financial solutions, enhancing the banking experience of customers and providing the Bank with a competitive edge.

He went on to say that KFH has maintained its strength and leadership in offering distinguished digital banking services, noting that the pandemic contributed to accelerating the digital transformation journey of KFH which had made significant leaps prior to the pandemic phase. He also revealed that during the total lockdown, KFH continued serving its customers round the clock through its online digital platforms.

Speaking on financial technology, Al-Ajeel pointed out that investing in FinTech and infrastructure development is at the heart of KFH’s strategy as it has become a necessity. Therefore, KFH is keeping pace with the developments in this industry including Artificial Intelligence, cyber security, and machine learning, as well as enhancing its relationships with FinTech providers through strategic partnerships.

He noted that Open Banking and Application Programming Interface (API) are reshaping the banking sphere, therefore banks must adopt and benefit from these applications to improve their overall performance and enhance customer experience.

He added that KFH cooperates with world-class companies to provide unique and top-tier services, such as the cooperation with Ripple to launch instant cross-border payments service by using Ripple's technology. He also stressed that KFH will continue to explore new partnerships with emerging technology enterprises and FinTech providers with the intention of designing and delivering innovative financial solutions to customers.

The second discussion panel - Nehal Almosalem

During the second discussion panel, KFH Group Deputy General Manager- Products, Nehal Almosalem shared her leadership journey at KFH, saying that the conference, in partnership with NLI, is an opportunity to shed light on empowering women leadership, one of the most important pillars of sustainable development.

Almosalem stressed KFH’s commitment to a policy of ensuring wage and reward equality among all its employees, regardless of gender, while also offering equal opportunities in training, education, skill development and access to leadership roles.

She noted KFH’s fundamental role in reinforcing sustainability and inclusion by empowering women leadership, referring to the presence of career growth opportunities for women, easing their progression into higher positions, offering a flexible workplace, alongside the creation of supportive policies and strategies that enhance women empowerment.

Almosalem added that KFH has made significant and promising progress in this field by implementing the goals of United Nations Development Program (UNDP) pertaining to Women Empowerment Principles agreement.

It is worth noting that in the previous year 55 female employees held positions in senior and middle management. The percentage of women representation in KFH branches was at around 35%, in addition the registration of women in (Forssah) training program reached around 53%.

Connecting with global speakers – Mohammed Al-Musalam

KFH Executive Manager Talent Management, Mohammed Al-Musalam said that KFH’s involvement in the conference  has yielded notable achievements in bolstering the Bank’s human talents through their participation in training programs, discussions, workshops and seminars led by a diverse array of international speakers and industry experts such as Quest Nutrition Co-Founder Tom Bilyeu, Joanne Lesley Malone (Jo Malone) who transformed her small business into a global brand, AI and emerging technologies experts Calum Chace and Daniel Hulme, the first Arab woman astronaut Sara Sabry and Graeme Codrington who is an expert on the future of work and the disruptive forces.

Al-Musalam pointed out that hosting a cohort of global speakers aligns with KFH’s vision to cultivate leaders and hone the skills of its human resources, the fundamental factor of success.