A Special Report Issued on the Occasion of Arab Financial Inclusion Day

• Dedicated accounts for children and youth, with multiple benefits for women, retirees, and entrepreneurs
• Specialized services for persons with disabilities across 6 branches, one in each governorate
• Support for domestic workers and low-income individuals to access banking services

On the occasion of Arab Financial Inclusion Day, Gulf Bank has issued a special report outlining its leading role in supporting the State's efforts to promote financial inclusion and enable all segments of society to access financial services in a fair and secure manner, in alignment with the directives of the Central Bank of Kuwait and best practices in sustainable banking.

The report concluded that financial inclusion represents both a commitment and an opportunity for Gulf Bank. Financial inclusion initiatives are not treated as standalone activities, but rather as an integral component of the Bank's comprehensive strategic orientation, which aims to support economic and social development in the State of Kuwait, while adhering to local regulatory frameworks and guidelines. This is achieved through expanding access to services, encouraging responsible banking practices, and delivering high-quality, customer-centric services.

The report further addressed the Bank's efforts in developing comprehensive and innovative banking solutions focused on accessibility, driving effective use of services, and addressing the challenges faced by certain segments of society, including women, youth, low-income individuals, persons with disabilities, domestic workers, and small and medium-sized enterprises through facilitating account opening, providing digital solutions, payment gateways, financing services, and specialized financial advisory.

Effective and Sustainable Utilization

Gulf Bank is committed to facilitating the opening of bank accounts for all segments of society by simplifying procedures and reducing requirements, thereby ensuring equitable and secure access to financial services without discrimination, and enabling customers to benefit from banking services in an effective and sustainable manner. In this context, the following initiatives have been introduced:

Children: Gulf Bank launched the neo Children's Account with the aim of fostering a culture of saving within the community, available from birth up to the age of 14, with no minimum balance requirement for account opening and no issuance fees. The account provides a simple and secure means for parents to build their children's financial future, while also helping children develop the values of saving and financial responsibility from an early age.

Youth: The Bank offers the red Account, which is a dedicated savings account for students and young people between the ages of 15 and 25 with no minimum balance requirement, a red Plus prepaid card, a welcome gift of 5,000 Gulf Points upon transfer of the student benefit, redeemable through the "Gulf Points" program, a 50 Kuwaiti Dinar fuel voucher from an "Oula" station for new members, and an exclusive package of benefits including a 50% discount on cinema tickets daily, as well as discounts at selected restaurants and stores.

Women: Gulf Bank offers the Rose Gold Credit Card, designed specifically to meet the needs of the modern woman. It is free for life and provides rewards and benefits programs among the highest in the local market, along with instant discounts at a wide range of stores, restaurants, and health clubs, concierge services, and the ability to instalment purchases for up to 12 months interest-free through the Easy Pay service.

Retirees: Gulf Bank places particular importance on serving retirees, offering them a welcome cash gift of up to 500 Kuwaiti Dinars upon pension transfer, in addition to a housing loan of up to 70,000 Kuwaiti Dinars with a grace period of 12 or 24 months, and a consumer loan of up to 25,000 Kuwaiti Dinars with a flexible repayment period of up to 5 years. Customers also receive a lifetime-free credit card with automatic enrollment in the "Gulf Points" program, exclusive discounts at leading car showrooms, and 0% interest on selected vehicles.

Persons with Disabilities: Gulf Bank provides distinguished services for persons with disabilities across 6 branches, one in each governorate, featuring wheelchair-accessible entrances and spacious interior layouts. ATMs have been equipped with appropriate heights, Braille keypads for the visually impaired, audio guidance speakers, and privacy booths enclosed in dedicated glass rooms.

The Bank is committed to organizing annual sign language training courses for branch staff, with large number of employees trained, accumulating a total of nearly 900 training hours. The Bank also collaborates with SignCom to provide real-time sign language interpretation services within these branches via tablets that enable direct communication with professional interpreters.

Low-Income Individuals: The Bank offers a dedicated salary account for non-Kuwaiti employees (Residence Article 18) earning less than 400 Kuwaiti Dinars per month, accompanied by an ATM card (Worker Card), with the ability to use the Gulf Bank application and the "Wamd" service for money transfers.

Domestic Workers: Gulf Bank offers the Worker Account for domestic workers (Residence Article 20), an interest-bearing savings account requiring a minimum balance of 100 Kuwaiti Dinars to open. with access to the Bank's application and transfer services via "Wamd."

Small and Medium Enterprises: As part of its continued support for entrepreneurs and SMEs, Gulf Bank has launched a dedicated Corporate Banking application tailored to the needs of various sectors. The Bank also offers business deposit cards with no limit on the number of authorized employees, a Visa Business Signature credit card free for the first year, safety deposit boxes at a 25% discount, as well as exemptions and discounts on point-of-sale devices, electronic payment gateways, and payment link solutions.

Enhancing Economic Participation

Gulf Bank recognizes that financial inclusion is a pivotal element in strengthening economic participation, protecting customers, and achieving long-term financial stability. The Bank's approach is fully aligned with the directives of the Central Bank of Kuwait; financial inclusion initiatives have been integrated within its institutional strategy, with periodic reports submitted in accordance with regulatory requirements.

Financial literacy constitutes a foundational pillar of the Bank's strategy, implemented through awareness campaigns in partnership with community and educational organizations such as INJAZ, as well as ongoing support for the "Let's Be Aware" campaign, which aims to raise the level of financial awareness, promote responsible banking practices, and educate the public on the risks of financial fraud and the safe use of banking services.

Financial inclusion is recognized as one of the key enablers for achieving the Sustainable Development Goals, given its role in empowering individuals and communities to integrate into the economy, improve livelihoods, reduce poverty, and contribute to sustainable economic growth, a recognition explicitly reflected in a number of the SDG targets.