Kuwait Banking Association organized a reception for Kuwaiti banks in Washington, D.C., on Wednesday, October 15, 2025, on the sidelines of its participation in the annual meetings of the International Monetary Fund and the World Bank Group.
The reception was held under the patronage of His Excellency Mr. Basil Ahmed Al-Haroun, Governor of the Central Bank of Kuwait, and attended by His Excellency Dr. Sabih Abdulaziz Al-Mukhaizeem, Minister of Electricity, Water and Renewable Energy, Minister of Finance and Acting Minister of State for Economic Affairs and Investment; Her Excellency Sheikha Al-Zain Al-Sabah, Ambassador of the State of Kuwait to the United States of America; His Excellency Mr. Jassim Al-Budaiwi, Secretary-General of the Gulf Cooperation Council; governors of Arab central banks; chairmen of Kuwaiti banks’ boards of directors; senior leaders from the financial and banking sectors; and a number of prominent economic figures from around the world.
Chairman of the Kuwait Banking Association and Chairman of the Kuwait Finance House Group, Hamad Abdulmohsen Al-Marzouq, stated that participating in the annual meetings and events of the World Bank Group and the International Monetary Fund for 2025, held in Washington, D.C., is a good opportunity to explore opportunities for cooperation and partnership with international financial institutions and review key economic and financial developments.
He pointed out that the Kuwaiti Banks’ Reception, organized by the Kuwait Banking Association on the sidelines of the World Bank and International Monetary Fund meetings, is one of the most prominent economic events that brings together government officials, decision-makers, and heads of financial and investment institutions to exchange views and discuss challenges and economic and financial developments.
Al-Marzouq explained that such participation represents an opportunity to highlight the strength of the Kuwaiti economy and the competence, solvency, and resilience of the Kuwaiti banking sector, given the tremendous developments it is witnessing in the field of financial technology and sustainable growth, the positive ratings it enjoys from the most prestigious international rating agencies, and the soundness of the banking sector’s financial indicators, in light of the prudent oversight of the Central Bank of Kuwait and the banking sector’s adoption of the best regulatory and supervisory standards. This allows for the exchange of expertise and the enhancement of bilateral investment and financial cooperation. He stated that the 2025 World Bank Group and International Monetary Fund meetings discuss global growth prospects amid geopolitical challenges and inflationary pressures, ways to manage public debt, enhance financial sustainability, and digital transformation, as well as the importance of addressing climate change.
He pointed out that Kuwait Finance House’s participation in the World Bank Group and International Monetary Fund meetings confirms its leading position regionally and globally as a leading Islamic banking group, with a global reach spanning 10 countries. It also underscores the importance of the Islamic finance industry and its role as a model capable of supporting financial stability and achieving sustainable development.
On this occasion, Mr. Isam Al-Sager, Vice Chairman of the Kuwait Banking Association and Vice Chairman and Group CEO of the National Bank of Kuwait, emphasized that the Kuwaiti Banks’ Reception, organized by the Kuwait Banking Association on the sidelines of the meetings of the International Monetary Fund and the Board of Governors of the World Bank, has become a prominent event on the international banking and economic agenda. It brings together a select group of senior Kuwaiti government officials, financial decision-makers, and heads of global banking and investment institutions, in an atmosphere of constructive dialogue and exchange of views on current economic issues.
Al-Sager explained that this event reflects the prestigious position of the Kuwaiti banking sector on the international stage and its effective role in supporting global efforts to enhance financial stability and stimulate sustainable economic growth. This meeting also represents an important opportunity to highlight the positive developments witnessed by the Kuwaiti economy, the efforts of Kuwaiti banks in supporting national development programs, and strengthening Kuwait’s position as a leading regional financial center.
Al-Sager added that these meetings constitute a strategic platform for discussing the most prominent challenges facing the global banking industry in light of rapid economic and technological transformations. They also explore opportunities for cooperation in the fields of finance, investment, and sustainable development, as well as exchanging expertise on best practices in risk management, governance, and promoting financial innovation.
Al-Sager noted that the meetings also represent an opportunity to deepen international partnerships and enhance cooperation between the Kuwaiti banking sector and its global counterparts. This will contribute to the exchange of expertise and the development of innovative financial solutions that align with the future requirements of the global economy. They also reflect Kuwait’s commitment to supporting regional and global financial stability.
He emphasized that the National Bank of Kuwait places special emphasis on investing in human capital and adopting the latest financial technologies, which enhances its ability to provide innovative and advanced banking services and contributes to enhancing customer and investor confidence alike, making it a reliable partner in achieving sustainable economic development goals. Al-Sager concluded his statement by emphasizing that the National Bank of Kuwait’s participation in such international events is an extension of its pioneering role in the regional and global banking arena, and its continued commitment to contributing to formulating visions and policies that support financial stability, enhance economic integration across various markets, and open new horizons for enhancing banking and economic cooperation to serve the interests of Kuwait and the region as a whole.
Sheikh Ahmad Duaij Al-Sabah, Chairman of the Board of Directors of the Commercial Bank of Kuwait, stated that the bank’s participation in the meetings of the International Monetary Fund and the World Bank Group, along with the Union’s reception on this occasion, represents a valuable opportunity to strengthen the bank’s presence on the international stage and exchange views on the most prominent global economic and financial developments. He emphasized that these meetings contributes to consolidating Commercial Bank’s position as a leading financial institution with a broad correspondent banking network with elite international financial institutions, providing greater opportunities for cooperation, exchange of expertise, and support for cross-border banking operations. He added that Commercial Bank continues to invest in digital transformation with the aim of providing innovative, secure, and sustainable banking services and financial solutions.
For his part, Mr. Sami Mahfouz, Acting CEO of Gulf Bank, emphasized the importance of participating in this important event, which brings together decision-makers from around the world to discuss the most prominent current economic challenges. He said that these meetings represent a valuable opportunity to enhance international cooperation and exchange views on ways to achieve sustainable development and economic balance. They also contribute to supporting efforts to empower and enhance the efficiency of the private sector, a key partner in the development process. Mahfouz praised the strong Kuwaiti representation and the effective participation of the government and private sector in the meetings. He also commended the efforts of the Kuwait Banking Association in organizing this distinguished economic event at George Washington University.
Gilles-Jan van der Tol, Group CEO of Al Ahli Bank of Kuwait, expressed his pleasure at participating in the reception organized by the Kuwait Banking Association on the sidelines of the annual meetings of the Boards of Governors of the World Bank and the International Monetary Fund. The reception focused on monitoring economic and financial developments and developing solutions to ensure stability, growth, and prosperity, especially given that current global conditions and geopolitical challenges require concerted efforts and enhanced international monetary cooperation. Van der Tol added, “Holding such events contributes to building new relationships with major banks and financial institutions, leveraging the expertise of their officials to develop proactive plans, achieve desired goals, and advance the Kuwaiti banking sector.”
For his part, Mr. Raed Jawad Bukhamseen, Vice Chairman and CEO of Kuwait International Bank (KIB), expressed his pleasure at participating, stressing that the reception reflects Kuwaiti banks’ commitment to strengthening international cooperation and showcasing their distinguished models in supporting investment projects. He emphasized the role of Kuwaiti banks as a fundamental pillar in supporting development and financing vital projects.
Mr. Abdullah Abdulmajeed Marafie, General Manager of Treasury and Financial Institutions at Burgan Bank, said: “Burgan Bank continues to embrace the principles of innovation and sustainability as fundamental pillars of its strategy to achieve balanced growth in a rapidly transforming financial environment. We also ensure that our international participation provides an opportunity to exchange expertise and explore new partnerships that support the bank’s strategy on the one hand, and strengthen Kuwait’s position as a leading financial center in the region on the other.” He added: “We appreciate the efforts of the Kuwait Banking Association in organizing this meeting, which provided Kuwaiti banking institutions with a unique platform to connect with their global counterparts and discuss key financial and economic issues from a national perspective, consolidating Kuwait’s presence on the international stage.”
On this occasion, Mr. Adel Al-Majed, Vice Chairman and Group CEO of Boubyan Bank, commented, “The Kuwaiti Banks’ Reception, organized annually by the Kuwait Banking Association on the sidelines of the meetings of the International Monetary Fund and the World Bank, is one of the most prominent international forums that Boubyan Bank is keen to attend and participate in. It brings together a select group of government leaders, bankers, investors, and financial decision-makers from around the world to discuss the latest developments in the financial and banking sector, and review opportunities for cooperation and exchange of expertise in the fields of finance and investment.”
Al-Majed affirmed Boubyan Bank’s commitment to supporting the efforts of the Kuwait Banking Association, appreciating its effective role in strengthening the position of the Kuwaiti banking sector and consolidating its presence regionally and internationally.
For his part, Mr. Bader Khaled Al-Shalfan, Vice Chairman of Warba Bank, explained that participating in this global conference represents an important opportunity to enhance the presence of Islamic banks on the international stage and highlight their ongoing successes in building a balanced and sustainable financial model that combines innovation and adherence to Sharia principles.
Al-Shalfan pointed out that Warba Bank is making steady progress towards development. Its banking system and the expansion of its services keep pace with the global growth in Islamic finance, contributing to strengthening Kuwait’s position as a leading Islamic financial center in the region and the world.
At the conclusion of the ceremony, the Chairman of the Kuwait Banking Association Board of Directors, Mr. Hamad Al-Marzouq, expressed his deep gratitude to His Excellency the Governor of the Central Bank of Kuwait for his generous patronage of the ceremony, and to the ministers and officials present for their support. He also thanked Her Excellency Sheikha Al-Zain Al-Sabah for her generous hospitality and sponsorship of the Kuwaiti delegation in Washington. He emphasized that the success of this event reflects an honorable image of the State of Kuwait in international forums and confirms the position of the Kuwaiti banking sector as a key driver of economic development and prosperity.
