Kuwait City, August 17: Kuwait International Bank (KIB) announced receiving the “Best Retail Banking Product” award for the year 2024 from World Finance magazine. This recognition celebrates the Bank’s recent success in upgrading the KIB retail mobile application, designed to deliver an advanced level of digital banking services to individual customers. This accolade serves as a confirmation of the significant success the Bank continues to achieve under its comprehensive strategy to elevate customers’ digital banking experience, offering financial solutions tailored to their needs and modern lifestyles, in line with its slogan, ‘Bank for Life’.

Commenting on the Bank’s latest recognition, which came as part of the magazine’s 2024 Islamic Finance Awards program, Othman Tawfeqe, General Manager of the Retail Banking Department, stated: “We at KIB take immense pride in receiving this prestigious award, which is a reflection of our unwavering efforts to develop our banking products and services to meet our customers’ needs and exceed their expectations. This occasion also presents an opportunity to reaffirm our continuous commitment to innovate further solutions and features that enable us to sustain our leading status in the banking sector. On this note, I would like to express my appreciation to the Central Bank of Kuwait, the Capital Markets Authority and all regulatory authorities for their invaluable support and wise guidance. I would also like to thank the Chairman, members of the Board of Directors and the Executive Management for their contributions to the success of the Bank.”

He further stated: “As we celebrate this distinguished honor today, we’re also reminded of the collective effort of all KIB employees, which has culminated in the successful renovation of the KIB Mobile application. This upgrade has made it more user-friendly, secure, and adaptable to our customers' needs, while also introducing additional features that transform it into a truly innovative digital platform.”

With its recent revamp, KIB Mobile now serves as a digital gateway enabling customers to manage their financial portfolio and make smarter, quicker decisions. It offers rapid services like bank transfers, payment processing, and managing beneficiary lists. Furthermore, the KIBPay service allows for easy financial payment requests, account top-ups, and bill splitting. Upon registration, customers can immediately take advantage of the ‘best’ digital rewards program in Kuwait, earning points for banking activities and shopping, redeemable for a wide range of electronics, shopping vouchers, ticket reservations, and much more.

KIB was awarded this prize by the World Finance judging panel based on the Retail App’s innovative features, user-friendly interface, and comprehensive functionalities that cater to the diverse needs of retail banking customers. According to the magazine, the KIB Retail App stands out for its intuitive design, robust security measures, and wide range of services, enabling customers to manage their finances conveniently and securely from their mobile devices. This recognition underscores KIB’s dedication to providing top-tier banking solutions that enhance the overall customer experience.

World Finance magazine, based in London, is considered one of the leading media platforms globally in the economic and financial field. The magazine consistently honors outstanding financial institutions and leaders in the banking industry who are pioneering digital transformation in the finance and business world, as part of its annual Islamic Finance Awards program.

It is worth mentioning that KIB continues to receive prestigious awards that embody its commitment to developing its services and products and providing the latest banking solutions at the highest standards in the Islamic banking world. This is driven by the Bank’s belief in the importance of contributing to innovation and development as well as enhancing its competitive edge among the changemakers in the Kuwaiti financial sector.