Mohammed Al-Othman participates in Dubai FinTech Summit 2025
NBK official addresses a global audience of financial pioneers, investors and innovators
KUWAIT: Mohammed Al-Othman, CEO, Consumer and Digital Banking at National Bank of Kuwait (NBK), took part in Dubai FinTech Summit 2025, held under the theme 'FinTech for All.' The event brought together global leaders from the financial sector, alongside investors and innovators, to examine emerging trends, pressing challenges, and transformative opportunities shaping the future of financial technology. The third edition of the Dubai FinTech Summit 2025, the region's premier event for the fintech sector, was held over two days from May 12 to 13. Organized by Dubai International Financial Centre (DIFC), the summit explored key topics including digital banking, the growing role of artificial intelligence in finance, open banking, sustainable finance, and regulatory frameworks.
The summit drew the participation of leading financial institutions, fintech start-ups, investors, regulators, decision-makers, and technology providers — gathered to explore breakthrough innovations, forge strategic partnerships, and shape the future of fintech and the broader financial landscape.
Al-Othman took part in a panel discussion focused on the transformation of the banking sector and the next wave of innovation, where he highlighted NBK's leadership in driving digital transformation. He emphasized the bank's role in launching a wide range of innovative services that have redefined the future of banking in Kuwait and across the region. Al-Othman highlighted NBK's pioneering role in adopting the latest technologies to deliver exceptional digital services tailored to customer aspirations — often surpassing expectations. He noted that NBK's name has become synonymous with innovation and leadership in the realm of digital banking products and services.
DUBAI: Mohammed Al-Othman takes part in Dubai FinTech Summit 2025.
Sharing his vision for the future and the role of AI in banking, Al-Othman emphasized: 'We adopt a proactive approach that ensures continuous innovation and responsiveness to the rapid changes in the digital landscape. As part of our forward-looking strategy, we are committed to enhancing the banking experience for our customers by leveraging the latest technologies, with a strong focus on data analytics and AI-driven solutions to deliver greater value.'
Al-Othman emphasized that NBK remains firmly committed to redefining the banking experience, leveraging its advanced technological infrastructure and cutting-edge digital innovations to deliver increasingly sophisticated, customer-focused solutions. This sustained commitment not only elevates customers' journey and keeps pace with rising expectations but also cements the bank's leadership in digital banking and sets new benchmarks for the future of the financial industry.
Furthermore, Al-Othman highlighted NBK's strategic approach to navigating the rapid evolution of the fintech landscape, emphasizing that the bank views these developments not as obstacles, but as valuable opportunities to strengthen its competitive edge and deliver greater value to its customers.
He explained that NBK's strategic approach is rooted in a deep understanding of evolving market needs and a deliberate investment in emerging technologies that support the bank's long-term objectives. This approach is anchored in upholding the highest standards of security and reliability, while consistently striving to maintain superior levels of customer satisfaction across all services and products. Commenting on the dynamic between banks and fintech startups in Kuwait, Al-Othman stated: 'The relationship between banks and fintech companies is more complementary than competitive.'
Moreover, Al-Othman emphasized the remarkable success of Weyay, Kuwait's first fully digital bank, stating: 'Since its launch in 2021, Weyay Bank has set new benchmarks in the banking industry, securing a leadership position in the digital banking sector. This achievement is attributed to the innovative products and services it offers, along with a seamless, round-the-clock banking experience that caters to a wide range of age groups, particularly the youth.'
He noted that Weyay Bank stands as a prime example of the success of the bank's vision and strategic direction. Since its inception, Weyay has delivered exceptional performance, surpassing the initial plans in both customer acquisition and balance sheet growth. He emphasized that Weyay represents a quantum leap in the banking sector, leveraging cutting-edge technologies to deliver a seamless, user-friendly experience that has played a key role in expanding NBK's customer base. He further underscored that this success is rooted in a corporate culture spanning over seven decades — one that consistently aspires to excellence and accepts nothing but the best.
Al-Othman also praised the pivotal role played by the regulatory initiatives led by CBK in enabling banks to adopt and implement digital initiatives more effectively, highlighting their contribution to creating a supportive ecosystem for innovation and transformation. 'Young customers increasingly seek fast and user-friendly digital banking services. That's why we continuously strive to stay ahead of technological trends, developing products that cater to the evolving needs of the rising digital generation. Most recently, we launched the 'Jeel' card — an innovative solution tailored specifically for youth aged 8 to 14. The card combines simplicity with smart digital features, empowering young users while fostering a sense of financial responsibility and literacy through a personalized banking experience and the usage of their banking mobile application,' he added.
Al-Othman concluded his remarks with an eye on the future, forecasting that the upcoming regulatory developments — particularly in the areas of data analytics, AI, and cybersecurity — will be pivotal in driving the next wave of banking innovation. He emphasized that NBK is well-positioned to play a leading role in this new era, backed by its steadfast commitment to delivering secure, cutting-edge banking solutions that align with customer expectations and contribute to economic growth in Kuwait and across the region. Al-Othman was recently named MENA Retail Banker of the Year for the fourth consecutive year by MEED magazine, as part of the 2025 Banking Excellence Awards.
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
Special offer for NBK Mastercard holders
KUWAIT: In line with its continuous efforts to enrich its customers' banking experience with unique campaigns and exceptional rewards that correspond to their different lifestyles and needs, the National Bank of Kuwait and Mastercard are partnering to reward 115 top spending customers with travel vouchers simply for using their NBK-Mastercard when spending in foreign currency during the period from June 1 to June 30, 2025. This offer allows winners the chance to win a travel voucher worth up to KD 150, provided by Mastercard, which can be redeemed at more than 500 different airlines and over 2.1 million hotels around the world. To get the chance to win, there are minimum spending limits during the campaign period, according to the card used in making the purchases, and they are as follows: (1) Spend a minimum of KD 550 if they hold any of the following cards: - NBK-Aura World Mastercard Credit Card. - NBK Miles World Mastercard Credit Card. - World Mastercard Credit Card. - UEFA Champions League World Mastercard Credit Card issued by NBK. (2) Spend a minimum of KD 300 if they hold any of the following cards: - NBK Platinum Mastercard Credit Card. (3) Spend a minimum of KD 200 if they hold any of the following cards: - NBK Titanium Mastercard Credit Card. - NBK Laki Titanium Mastercard Credit Card. Voucher distribution: - Mastercard Platinum & Titanium: 65 vouchers, valued at KD 75 each. - Mastercard World: 50 vouchers, valued at KD 150 each. Commenting on this campaign, Anwar Al Ballam AVP - Cards services, at Consumer Banking Group, at National Bank of Kuwait said: 'We are keen at NBK on rewarding our customers by launching exclusive campaigns around the year that guarantee an exceptional and distinguished experience for them beyond banking services and correspond to their different lifestyles and needs.' Al Ballam also added: 'Through this campaign in partnership with Mastercard, we strive to celebrate our NBK-Mastercard Credit Card and NBK-Mastercard Prepaid Card holders and enable them to gain massive benefits while helping them turn purchases into memorable trips.' It is noteworthy that NBK's Credit Cards are the best way to make payments, as holders access many benefits with ease, especially while shopping, including NBK Rewards and NBK Miles Programs, as well as Purchase Protection and Extended Warranty Services.
Kuwait Times
3 days ago
- Kuwait Times
Style or security? How culture shapes gold buying habits in Kuwait
Every community has its go-to gold, affected by tradition, resale value, aesthetics KUWAIT: As Eid approaches, it's easy to notice how different gold markets draw in people with different nationalities. According to local jewelers, one key factor drives these preferences: karat - the measure of gold's purity mixed with other metals. The availability of certain karats across shops not only impacts price, but also influences the jewelry's color, strength and the styles favored by each community. 'Each country tends to have its own distinct preference for gold karat,' said Ahmad Gad, a jeweler at Al-Mubarakiya Gold Souq, one of the most popular markets among diverse nationalities in Kuwait. He broke down the three most common karats in Kuwait and who typically prefers each: 'Indians usually go for the rich yellow of 22K gold. Arabs lean toward 21K for its shine. As for 18K, which has a softer glow, it's often chosen by people who like European styles — Filipinos, for example.' Ahmad Gad, a jeweler in Kuwait. A vendor shows a gold necklace to a customer at the gold exhibition. The Indian favorite Indian buyers are especially drawn to 22K gold, valuing both its high purity and cultural significance. 'For Indians, what matters most is purity. If it were practical, they'd choose 24K - but it's too soft for jewelry,' said Ayoub, an Indian gold salesman who has worked in Kuwait for seven years. Pure 24-karat gold, considered 100 percent gold, is typically reserved for bars and coins, as its softness makes it unsuitable for wearable, intricately designed jewelry. To increase durability, gold is alloyed with other metals, resulting in lower karats: 22K gold contains 91.7 percent pure gold, and is ideal for the ornate, heavily detailed pieces typical in Indian culture. 'Our classic Indian pieces can only be made with 22K,' said Naresh Kumar, a jeweler at Souq Al Wataniya in Kuwait City, which mainly serves Indian and Bengali customers. 'It's also the standard karat in India, so it's easier to resell there.' Gad added, 'Every community prefers gold that can be resold easily in their home country.' Smart investment Despite its cultural significance, 22K gold is less commonly stocked in Kuwait compared to 21K. You'll find 21K gold widely available in popular markets like Al-Mubarakiya, Hawally, Salmiya and Farwaniya. According to jewelers, 21K is the most sought-after karat among Arabs. With 87.5% purity, it offers a sweet spot between visual beauty and long-term value. '21K is ideal for those who want a beautiful ornament that also holds its value,' said Gad. 'It has a higher resale price compared to lower karats, especially if it's locally made Kuwaiti gold, free of decorative cloves.' Kuwait is known for its high-quality 21K gold, thanks in part to strong trade ties with the UAE, home to some of the Gulf's most skilled goldsmiths. This partnership enables Kuwait to import a wide variety of 21K designs in large quantities. Elegant, but less valuable By contrast, 18K gold is found in smaller quantities across Kuwait, mostly in the Salmiya Gold Souq, which caters largely to Filipino buyers. While 18K contains 75 percent pure gold and is often used for dainty, European-style pieces, jewelers say it carries the highest making charges and offers weaker resale value, making it less appealing to investment-focused shoppers. 'The lower the gold's karat, the harder it is to mold,' explained Kumar. 'Working with low karats like 18K takes more time and precision, which increases labor costs.' That added labor is reflected in the making charge — a markup applied to the price of gold per gram for craftsmanship, which doesn't contribute to the resale value. Still, 18K remains the go-to for many Filipino shoppers and others who prioritize aesthetics over return value. 'I prefer 18K because it's simpler and more elegant,' said Rachel, a Filipino customer. 'The higher-karat designs are too loud - too madame. Unlike 18K pieces which I can easily stack and wear daily without feeling it's too much. For many, gold is more than a fashion statement - it's financial security. 'Gold is the most affordable investment for me right now. Instead of wasting money, I buy gold. It's like my money is still there, just preserved in a different form,' said Nada Dawod, an Egyptian gold enthusiast. 'When I was younger, I loved 18K gold,' she said. 'But once I started buying gold with my own money, I switched to 21K. It has better resale value and comes with a lower making charge. Even if I like a design in 18K, I try to find a similar one in 21K.'
Arab Times
3 days ago
- Arab Times
Citizen blasts opaque debt campaign, files court case
KUWAIT CITY, June 4: The Court of First Instance received a new case filed by a Kuwaiti citizen who has demanded full disclosure of the distribution and beneficiaries of donations totaling millions of dinars collected by the national campaign for refunding debtors' loans. Lawyer Reem Al-Baghdadi, representing the aggrieved citizen, requested detailed information on debt repayment records, the disbursement process, and the list of beneficiaries. She explained that her client was extremely surprised to be excluded from the current debtors' campaign beneficiary list, despite not having applied for any previous campaigns. An investigation revealed that the committee overseeing one of the previous campaigns had paid the government a fee of KD 10 owed by the citizen, based on a request from the Ministry of Justice. Her client was unaware of this payment and that his name had been included in the previous campaign's beneficiary list without his knowledge. Despite being able to pay the KD 10 fee himself, he applied to register in the latest campaign due to a large debt he could not afford to repay. Lawyer Al-Baghdadi emphasized that the purpose of this lawsuit is to clarify the mechanisms of the debtors' campaigns, ensuring transparency and fairness so that aid reaches those truly entitled to it based on clear and just criteria.
