Kuwait, 16 October 2024: Kuwait International Bank (KIB) has announced the signing of a Memorandum of Understanding (MoU) with the College of Business Administration at Kuwait University to establish a partnership focused on fostering and accelerating innovation. KIB will lead the organization and management of the innovation program in collaboration with a specialized global consulting firm, which will serve as the program's advisor and provider.

This partnership aims to advance the concept of innovation and provide practical training opportunities at the Bank for university students. It also reflects KIB’s commitment to its comprehensive social responsibility strategy, supporting educational institutions, and enhancing the role of the education sector in achieving sustainable community and economic development.

Commenting on the occasion, Mohamed Atef El-Shareef, General Manager of the Digital Innovation and Data Intelligence Department at KIB, said: “We are pleased to announce the signing of an MoU with the College of Business Administration at Kuwait University, aimed at opening new horizons for innovation. Through this partnership, KIB strengthens its position as a leader in supporting innovation in Kuwait. With the Human Intelligence Innovation Program ‘H.I’, KIB seeks to bridge the gap between the banking sector and academic institutions, preparing future leaders with the skills and knowledge necessary for success. Additionally, such initiatives offer valuable professional development opportunities for students and allow the Bank to benefit from the latest ideas and innovations.”

El-Shareef added: “Through this new partnership, KIB will offer practical training opportunities for university students within the Bank's facilities, providing them with valuable, real-world experience in the banking sector. Additionally, KIB will consider offering future employment opportunities to outstanding students and graduates based on their performance during the practical training provided through the collaboration with the College of Business Administration.'

Expressing his delight with the agreement, Dr. Awad Al-Dhafiri, Acting Dean of the College of Business Administration at Kuwait University, said: “This cooperation will strengthen the relationship between the College of Business Administration and KIB, a distinguished bank with real estate expertise, which has specifically chosen the students at the College to introduce them to real estate investment methods.”

In this context, Dr. Al-Dhafiri emphasized the significance of KIB’s role as a key contributor to the real estate investment sector, a major economic driver in Kuwait. “The Bank is one of the oldest institutions in real estate appraisal and has extensive expertise in the field. It is also continuously enhancing the performance of its employees, especially in response to the economic and legislative changes taking place in the country.”

Dr. Al-Dhafiri stated that this type of collaboration is highly valuable for educational institutions, as it serves as a bridge between practical fieldwork and college training. It also immerses students in decision-making scenarios by engaging them with case studies and real-world experiences.

On his part, Dr. Abdullah Nader Al-Awadi, Supervisor of the Student and Graduate Training Office, said: “This partnership with KIB is an important step toward fostering a culture of innovation among students at the College of Business Administration. It also offers a valuable opportunity for students to gain experience in a leading banking environment, helping them develop practical knowledge and refine their skills, thereby enhancing their readiness for the job market.”