to Train and Prepare Employees as Part of Its Transition to a Sharia-Compliant Bank

• Bader Al-Ali: The partnership marks a significant milestone in Gulf Bank’s transition to Islamic banking.
• Nada Razzouqi: We are pleased to partner with the Institute of Banking Studies to achieve this important milestone.
• Rana Al-Nibari: We are committed to delivering specialized training programs tailored to Gulf Bank’s needs during this critical stage.

Following the preliminary approval granted by the Central Bank of Kuwait, Gulf Bank has announced the signing of a strategic partnership with the Institute of Banking Studies (IBS) to provide specialized training programs, reinforcing the Bank’s ongoing efforts to transition into a Sharia-compliant institution.

The agreement was formally signed by Mr. Bader Al-Ali, General Manager of Consumer Banking at Gulf Bank, and Mrs. Rana Al-Nibari, Director General of the Institute of Banking Studies. The signing took place in the presence of senior representatives from both institutions, underscoring the importance of this strategic collaboration. From Gulf Bank, Mr. Hamed Al-Tamimi, Assistant General Manager of Human Resources, attended the ceremony and reaffirmed the Bank’s commitment to investing in the development of its human capital. Representing the Institute of Banking Studies, the event was also attended by Eng. Suha Isaac Ameen, Head of Training Department and Acting Head of the Academic Certificates and Scholarships Department , and Mr. Bassam Alshamali, Head of Operations Department and Acting Head of Business Development and Quality Control, both of whom highlighted the Institute’s role in delivering specialized training programs that meet the evolving needs of the banking sector.

The partnership aims to implement a comprehensive training program designed to equip Gulf Bank employees with a strong foundation in the principles of Islamic banking, with particular emphasis on the key distinctions between conventional and Sharia-compliant banking services.

Following the signing, Mr. Bader Al-Ali stated: “Our collaboration with the Institute of Banking Studies represents a significant milestone in Gulf Bank’s transition toward Islamic banking. This partnership underscores our commitment to equipping our employees with the knowledge and capabilities necessary to excel in a fully integrated, Sharia-compliant financial environment.”

He further emphasized the Bank’s unwavering commitment to developing its human capital through strategic partnerships with leading local and international institutions, aimed at delivering pioneering training programs. This approach, he noted, is fully aligned with Gulf Bank’s vision of investing in its people as the cornerstone of the Bank’s long-term growth and sustained success.

Acting General Manager of Human Resources at Gulf Bank, Mrs. Nada Razzouqi, stated: “We are pleased to collaborate with the Institute of Banking Studies to achieve this important milestone, as part of our preparations for Gulf Bank’s transition into a Sharia-compliant institution.”

She added: "We are proud that Gulf Bank is one of the leading banks that generously invests in human capital to enhance the competencies of its employees, considering them the main driver for achieving its strategic goals. This is done by equipping them with the latest expertise and skills necessary to keep pace with the major developments taking place in the banking industry."

For her part, Ms. Rana Al-Nibari emphasized the importance of such partnerships in strengthening Kuwait’s banking sector and facilitating the transition toward practices more closely aligned with Sharia principles. She affirmed that the Institute will provide tailored training programs specifically designed to address Gulf Bank’s requirements during this critical phase of transformation.

She added:

"This collaboration with IBS represents a key milestone in Gulf Bank’s transformation journey and underscores its commitment to achieving operational efficiency, full regulatory compliance, and meeting the requirements for becoming a Sharia-compliant bank."

It is worth noting that Gulf Bank received preliminary approval from the Central Bank of Kuwait on August 18, 2025, to proceed with its transition to a Sharia-compliant bank. This approval is based on Law No. (32) of 1968 concerning currency, the Central Bank of Kuwait, and the regulation of the banking profession and its amendments, as well as on the feasibility study conducted by a specialized global consultancy firm, in addition to the legal and technical requirements submitted to the Central Bank of Kuwait.