Al-Gharabally highlights transparency and collaboration as keys to success
Gulf Bank official speaks at 'Third Kuwait Public-Private Partnership Conference'
KUWAIT: Gulf Bank concluded its platinum sponsorship and active participation in the third Kuwait Public-Private Partnership Conference, held at the Jumeirah Hotel, under the patronage of Noura Al-Fassam, Minister of Finance, Minister of State for Economic and Investment Affairs, and Chair of the Higher Committee for PPP Projects.
Themed 'Partnership Projects: A Promising Start to a New Era,' the event gathered key stakeholders to discuss the shifting dynamics and growing importance of Public-Private Partnerships in driving Kuwait's development agenda. On the second day, speaking during a panel discussion titled 'Shaping the Future of Partnership Projects in Kuwait to Ensure Success.' Faisal Al-Gharabally, General Manager of International Banking at Gulf Bank, emphasized the importance of public sector confidence in proposed projects as a key enabler for banking sector engagement. He emphasized that encouraging all parties to participate in open and transparent discussions about concerns and solutions fosters trust and lays a solid foundation for successful financing.
Al-Gharabally also pointed to other critical factors influencing banks' willingness to finance Public-Private Partnerships, including project payment structures, legal and contractual frameworks, and risk allocation – emphasizing that the party managing the risk must also bear it. Transparency, he noted, remains the cornerstone of successful partnerships, along with granting banks the right to intervene if significant developments arise.
Adding to the conversation, Shamayel Al-Marzouq, Assistant General Manager of Corporate Banking at Gulf Bank, delivered a presentation titled 'Beyond Financing: How Banks Can Lead the Digital Future of Public-Private Partnership Projects.' She advocated for the banking sector to shift its role from conventional financing to becoming a catalyst for innovation, digital advancement, and sustainable growth, fully aligned with the vision and goals of Kuwait Vision 2035.
Al-Marzouq stressed that the next phase of infrastructure development calls for banks to evolve from 'silent funders' into active digital partners in national infrastructure projects. She highlighted the necessity of integrating banks within the digital ecosystem of Public-Private Partnerships to enable smooth digital connectivity, drive innovation, and boost operational efficiency. She also outlined key strategic actions banks can take in collaboration with government entities, including aligning financing approaches with national priorities – particularly for major projects like Mubarak Al-Kabeer Port and the Al-Dabdaba Renewable Energy Project.
Other initiatives include establishing centralized digital platforms for bidding and project management, adopting real-time monitoring and reporting solutions, applying data analytics to guide decision-making, and leveraging technology to enhance risk management and ensure greater transparency. Al-Marzouq also highlighted the significance of financing sustainable projects, citing examples like the Al-Dabdaba Power and Shagaya Renewable Energy project. She highlighted the vital role technology plays in advancing inclusivity and good governance by providing accessible digital infrastructure.
She concluded by highlighting the vast opportunities across sectors such as transportation, healthcare, education, and housing. Al-Marzouq called for the mandatory use of unified digital platforms, increased investment in digital capacity building, training on partnership models, and collaboration with technology firms and government bodies to establish a comprehensive digital ecosystem for Public-Private Partnerships. 'There is a unique opportunity today for Kuwaiti banks to take a leading role in shaping the future of digital transformation and sustainable development,' she said. 'By doing so, we can reinforce Kuwait's position as a smart, modern financial and commercial hub.'
Gulf Bank continues to dedicate itself to driving Kuwait's national development and shaping the future of its financial sector through innovation, teamwork, and strong leadership.
Shamayel Al-Marzouq: Banks are strategic partners in leading the digital transformation of public-private partnership projects.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Kuwait Times
6 hours ago
- Kuwait Times
NBK signs agreement with AIU to enhance career development
KUWAIT: The National Bank of Kuwait signed a Memorandum of Understanding (MoU) with the American International University to provide collaborative and innovative training programs and professional development workshops. Signing the memorandum were Emad Al-Ablani – Group Chief Human Resources Officer from NBK and Nael Alawadhi – Member of Board of Trustees from AIU with the attendance of officials from both institutions. According to the agreement, AIU will invite NBK representatives to participate in training programs and workshops organized by the university, which stands as a remarkable chance for exchanging knowledge and experiences. Moreover, specialized training programs will be organized for NBK employees in collaboration with the Human Resources Department, further enhancing the partnership in the field of professional development and elevating professional competencies. From its end, AIU will share its activities with the bank to explore sponsorship opportunities, and it will facilitate and prioritize NBK's access to campus to attend the different workshops and activities. AIU will also provide special care for students working part time at NBK by adjusting their schedules in line with their professional obligations, which reflects the two institutions' commitment to supporting continued education and professional development. This initiative comes as part of NBK's continued efforts to promote social responsibility and support education, as it firmly believes that investing in education is key to achieving a sustainable future, and it mirrors its dedication to collaborate with academic institutions to develop national professionals in line with Kuwait Vision 2035 and build a private sector-led economy that is diversified, sustainable, and underpinned by education, innovation, and technology. On this occasion, Al-Ablani commented: 'We strive to provide cutting-edge educational and training tools as per the latest international standards for competency development and enable our employees to access a diversified educational content that imparts knowledge and necessary experiences to boost innovation and enhance sustainability.' Al-Ablani added: 'We are proud of our long-standing relationships with all of Kuwait's educational and academic institutions that enable us to exchange training experiences and ultimately enhance professional competencies, as we are keen on aligning our own economic sustainability objectives with Kuwait's, and this relies heavily on providing training opportunities as per the highest international standards.' Al-Ablani also emphasized NBK's strong belief in education and its essential role in shaping the future of society, further indicating that the collaboration with AIU confirms NBK's commitment to preparing a generation of competent leaders and innovators in different fields by motivating students and establishing a nurturing environment that promotes innovation and creativity. Due to its essential role in affirming its leadership and excellence, NBK is remarkably keen on investing in its human capital by providing the best specialized programs as per international standards, presented by top banking experts who impart their knowledge, and transform professionals into future leaders.
Kuwait Times
10 hours ago
- Kuwait Times
KFAS concludes ‘TechEdge' program in collaboration with NBK and Zain
Aiming to enhance national youth skills in AI, data science, cybersecurity KUWAIT: The Kuwait Foundation for the Advancement of Sciences (KFAS) has concluded the 'TechEdge' program conducted in collaboration with the National University of Singapore, the National Bank of Kuwait, and Zain, which aims to enhance the skills of national youth who are kickstarting their careers in the fields of advanced technology such as Artificial Intelligence, Data Science, and Cybersecurity. The program, held in Singapore for two weeks, has successfully achieved its objectives, which focused on raising awareness about the importance of Cybersecurity and data protection in the backdrop of rising digital challenges. The participants were able to better understand the technology and tools used in these fields, enabling them to face cyber threats and protect the digital infrastructure. Moreover, this program is part of the fruitful collaboration between KFAS, NBK, and Zain aimed at supporting Kuwait Vision 2035 that strives to diversify the economy and enhance reliance on modern technology and digitalization. The program joined a distinctive group of ambitious Kuwaiti youth who showed great commitment and enthusiasm throughout. KFAS affirmed it will continue to develop society and establish an atmosphere of creativity and innovation by tapping into various initiatives and programs that aim to prepare competent and competitive youth in the technologically advanced job market, especially with the national youth's remarkable digital capabilities that need support to enable them become pioneers in advanced technology and ultimately accelerate digital transformation and sustainable development in Kuwait. On this occasion, Emad Al-Ablani, Group Chief Human Resources Officer said: 'At NBK, we strongly believe in the importance of promoting creativity and innovation by launching various programs and initiatives that aim to develop qualified national professionals and cooperating with government institutions and strategic partners to make a positive impact in society and create a motivating environment for the youth, which further put NBK at the forefront of institutions in social responsibility initiatives. Al-Ablani added: 'The collaboration with KFAS and Zain reflects our commitment to supporting knowledge and innovation. The 'TechEdge' program, for instance, stands as a great opportunity for trainees who are just kickstarting their careers to develop their skills, as it gives these young trainees the chance to receive high quality training and education in collaboration with the National University in Singapore, which is known as one of the pioneering institutions in the field of technology.' Nawal Bourisli, Chief Purpose & HR Officer at Zain Kuwait said: 'At Zain, we believe in the power of young minds to shape the future of our digital economy. Supporting the TechEdge program is part of our broader Innovation Nation initiative, through which we invest in national talents and provide them with cutting-edge knowledge in vital fields like artificial intelligence, data science, and cybersecurity. These are the pillars of tomorrow's job market, and we are committed to ensuring that Kuwaiti youth are ready to lead in this space.' Bourislicontinued: 'We are proud of the participants for their dedication and passion, and we're pleased that this global experience—delivered in collaboration with KFAS, NBK, and the National University of Singapore—was a fruitful one. It reflects our long-term vision of driving digital transformation by developing talent, sharing private sector expertise, and cultivating a culture of innovation.' Zain's support to TechEdge comes under the pillar of its 'Innovation Nation' initiative, through which the company collaborates with leading institutions to advance its strategic vision for enabling digital transformation upskilling and talent development.
Kuwait Times
10 hours ago
- Kuwait Times
‘All resources vital to meet future demand'
KUWAIT: Secretary General of the Arab Energy Organization (AEO) Jamal Al-Loughani affirmed that all forms of energy must be harnessed to meet the rising global demand, emphasizing that new and renewable sources are critical but will not replace conventional energy. Speaking to Kuwait News Agency (KUNA) on the occasion of the AEO's release of its first quarterly report for 2025, Al-Loughani highlighted the growing global appetite for electric power, which is expected to surge significantly by 2050. He stressed the importance of attracting fresh investments across the energy spectrum to ensure supply security and meet future needs. Al-Loughani noted a marked global interest in renewable energy during the first quarter of 2025, though investment levels varied by region. China, he said, maintained strong momentum in developing its renewable sector to bolster energy security and diversify sources. Egypt, meanwhile, recorded significant growth in solar power output. In contrast, he explained that in the United States, large-scale renewable energy projects faced delays amid tax policy uncertainties, stalling progress in the sector. Within the Arab region, AEO member states are pushing forward with efforts to expand renewables through progressive policies, technological advancements, and international collaboration. Al-Loughani revealed that global renewable energy capacity reached 4,448 gigawatts by the end of 2024. To achieve the tripling target set during COP28, annual growth must exceed 16.6 percent through 2030, he noted. On the topic of clean hydrogen, Al-Loughani underlined the importance of transportation infrastructure, particularly in densely populated areas. He said vehicles powered by hydrogen fuel cells will remain uncompetitive unless hydrogen production costs are substantially reduced. He also pointed to the potential of artificial intelligence (AI) in transforming the energy landscape. AI, he said, could play a key role in improving energy efficiency, reducing consumption, and lowering emissions from conventional sources. Looking ahead, Al-Loughani cautioned that the energy transition must balance sustainability with security, affordability, and regional economic realities. He stressed that each country's approach to clean energy must reflect its socio-economic priorities and conditions. Al-Loughani also warned of the risks linked to the global concentration of rare earth minerals, critical for clean energy technologies. China currently controls 80 percent of supply chains and 90 percent of processing capabilities, posing potential geopolitical and supply chain risks, he said. Commenting on electric vehicles, Al-Loughani offered a cautiously optimistic view. While global oil demand may stabilize or decline in some markets, he said demand in developing nations is likely to grow due to rapid economic and population expansion. On nuclear energy, the AEO Secretary General described it as a strategic option with both major opportunities and complex challenges, particularly concerning safety, security, and waste management. He stated that 440 nuclear reactors are currently operating in 32 countries, generating around 400 gigawatts—approximately nine percent of global electricity. Al-Loughani urged Arab countries to examine international experiences in nuclear development, highlighting the importance of clear policy frameworks, robust investment strategies, and alignment with technological advancements. He concluded by calling for urgent, coordinated action to address the escalating threat of climate change, noting projections of record-breaking global temperatures in the coming years. - KUNA
