What can be done to improve the situation of the banking sector in Kuwait?

The banking sector in Kuwait can be improved through several key areas of focus, namely consolidation, digitalization, and human capital development. Digitalization is already underway in Kuwait’s banks, as it offers inherent efficiency, cost reduction, competitive advantages, and caters to the growing demand for online banking and shopping convenience. Consolidation within the banking sector can also strengthen banks, but it faces challenges due to the ownership structure in Kuwait. However, pursuing stable capital brings increased sustainability to the sector. Additionally, the success of banks and financial institutions relies heavily on human capital. Kuwait has long pursued a Kuwaitization policy, increasing the percentage of Kuwaitis employed in the private sector from 20% to 70% over the years. However, there is a need for suitable candidates in specialized areas such as risk management, financial planning and control, audit, compliance, and corporate governance. These areas require a stronger pool of skilled professionals.

What kind of graduates should banks in Kuwait look for?

While business administration, economics, and accounting remain typical areas of graduation, there is a growing demand for graduates with IT-related majors, particularly in cybersecurity. Although cybersecurity is included in the education curriculum in Kuwait, not many universities offer full degree programs in this specialization. The market also sees a surplus of engineering graduates, but there is a need for more individuals skilled in digitalization. Some banks, like Commercial Bank, have introduced programs specifically tailored for fresh graduates, providing them with comprehensive training across various departments and evaluating their capabilities. External coaches are employed to conduct assessments and analyze outcomes, helping guide and develop these young professionals. Each generation has its own unique characteristics, and it is important to find effective ways to support the growth and development of today’s youth.

As a woman in a leadership position, how would you evaluate the current situation of Kuwaiti women and their career prospects?

Across the region, including Kuwait, there is a noticeable increase in the number of women holding leadership positions in both the government and private sectors. Women empowerment initiatives have played a significant role in this progress, which has seen rapid change in recent years. Kuwaiti women, with their high levels of education and perseverance, have achieved remarkable success in their careers and will continue to capitalize on these opportunities. We can expect to see more Kuwaiti women occupying leadership positions across various industries. While progress has been evident for some time, the real growth and transformation have been more pronounced in recent years.


What are your strategies to retain your clients?

Retaining clients is based on factors such as pricing, service models, and digitalization. While the older generation was more loyal to banks based on past support, the new generation seeks transparency regarding charges and the availability of advanced banking technologies and solutions. At our bank, we have prioritized certain services that many banks overlook, recognizing their importance to customers. For example, we introduced labor accounts in 2003, a service that other banks initially dismissed. Additionally, we have a highly user-friendly mobile app that is regularly updated and easy to use. Our BTM (Bulk Teller Machine) allows customers to withdraw large sums of money quickly and conveniently. We have transitioned from traditional tellers to providing self-service options, and our call center caters to all customer needs. By continually enhancing our services and embracing digitalization, we aim to meet and exceed customer expectations, ensuring their loyalty and satisfaction.

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