WASHINGTON: The Kuwait Banking Association (KBA) organized a reception for Kuwaiti banks in Washington, DC, on the sidelines of the 2025 annual meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG), which concluded on Saturday. The event was held under the patronage of Central Bank of Kuwait Governor Basel Al-Haroun and attended by Minister of Electricity, Water and Renewable Energy, Minister of Finance and Acting Minister of State for Economic Affairs and Investment Dr Sabeeh Al-Mukhaizeem, and Kuwait’s Ambassador to Washington Sheikha Al-Zain Al-Sabah.
The ceremony also brought together Secretary General of the Gulf Cooperation Council (GCC) Jasem Al-Budaiwi, governors of central banks in Arab countries, chairmen of Kuwaiti banks, senior leaders from the financial and banking sectors, and prominent economic figures from around the world. Chairman of the Kuwait Banking Association and Kuwait Finance House (KFH) Hamad Al-Marzouq said the annual meetings provide an important platform to explore cooperation and partnership opportunities with global financial institutions, and to review key economic and financial developments.
He emphasized that Kuwait’s participation highlights the strength, solvency, and flexibility of the local banking sector, which benefits from robust financial indicators, prudent Central Bank supervision, and adherence to international regulatory standards. Al-Marzouq noted that the 2025 IMF and World Bank meetings focused on global growth prospects amid geopolitical challenges, inflationary pressures, public debt management, financial sustainability, digital transformation, and climate change. He highlighted KFH’s leading role in Islamic finance globally, underscoring its contribution to financial stability and sustainable development.
Vice Chairman of the KBA and Group CEO of the National Bank of Kuwait, Isam Al-Sager, described the Kuwaiti Banks Reception as a prominent international event that fosters constructive dialogue between senior government officials, financial decision-makers, and heads of global banking and investment institutions. He stressed that Kuwaiti banks continue to invest in human capital and advanced financial technologies to provide innovative banking services, enhancing investor and customer confidence.
Sheikh Ahmad Duaij Al-Sabah, Chairman of the Board of Directors of the Commercial Bank of Kuwait, said the bank’s participation reinforced its international presence, strengthened cross-border banking relationships, and provided opportunities for cooperation and expertise exchange. He emphasized the bank’s ongoing investments in digital transformation to deliver innovative, secure, and sustainable financial services.
Sami Mahfouz, Acting CEO of Gulf Bank, praised the strong representation of Kuwait’s government and private sector and commended the KBA’s efforts in organizing the event at George Washington University. Gilles-Jan van der Tol, Group CEO of Al Ahli Bank of Kuwait, highlighted the importance of international monetary cooperation amid global challenges, noting the value of building relationships with major banks to advance Kuwait’s banking sector.
Raed Bukhamseen, Vice Chairman and CEO of Kuwait International Bank, stressed that the ceremony reflects Kuwaiti banks’ commitment to international cooperation and their role in supporting vital investment projects. Abdullah Marafi, General Manager of Treasury and Financial Institutions at Burgan Bank, emphasized innovation and sustainability as key pillars for achieving balanced growth and enhancing Kuwait’s position as a regional financial hub.
Vice Chairman and Group CEO of Boubyan Bank, Adel Al-Majed, affirmed the bank’s support for KBA initiatives in strengthening Kuwait’s banking sector regionally and internationally, while Vice Chairman of Warba Bank, Bader Al-Shalfan, highlighted the bank’s focus on expanding Islamic finance services and consolidating Kuwait’s position as a leading Islamic financial center.— KUNA
