A strategic partnership between Markaz and Loyac to nurture and develop young talents
Kuwait: Reaffirming its active role in promoting corporate social responsibility, Kuwait Financial Centre "Markaz" concludes 23 years of fruitful and ongoing partnership with Loyac, a local non-profit organization focused on youth development in Kuwait and other Arab countries. The partnership stems from Markaz's efforts to help enable the youth and nurture a new generation of leaders in alignment with the 'building human capacity' pillar of its corporate social responsibility (CSR) strategy.
The annual partnership between Markaz and Loyac encompasses various key aspects of social and developmental programs with the aim to enhance the capabilities of the youth, both personally and professionally, helping ensure that they are equipped with the skills and knowledge necessary to thrive and contribute effectively in the job market. Through Markaz's support, the Loyac team managed and completed over 60 initiatives within the year 2024.
Commenting on Markaz's pivotal role in this long-standing partnership, Mr. Diraar Y. Alghanim, Chairman at Markaz, said: 'Markaz has continuously sought out key initiatives that are mission-driven and sustainable, and more importantly, reflect the values and beliefs of Markaz. Our continued support of Loyac, and the myriad of initiatives that we find imperative to the development of the youth and community stems from our shared belief in building human capacity and empowering the next generation of young leaders. We are proud to contribute to this mission through a variety of initiatives focused on community, education, culture, sports and entrepreneurship, and witnessing the impact it leaves behind.'
Commenting on Markaz's approach to community engagement, Mr. Ali H. Khalil, Chief Executive Officer at Markaz, stated: 'Our collaboration with Loyac represents a cornerstone of our vision to cultivate a society where youth are not only equipped with the necessary skills but empowered to redefine possibilities through a business-oriented mindset fostered during their participation in Loyac's programs. This partnership allows us to champion initiatives that nurture creativity, leadership, and resilience, ensuring that the next generation is ready to face the challenges of tomorrow, with a mindset that embraces confidence and purpose. It is through such endeavors that we reaffirm our commitment to building a legacy of impact and innovation.'
Building on this shared commitment, Mr. Abdullatif Al-Nusif, Managing Director, Wealth Management and Business Development at Markaz, added: 'Our commitment to being a partner in wealth creation extends to empowering future generations and promoting a culture of responsibility and innovation. Our partnership with Loyac showcases the profound impact of community-driven initiatives that inspire and equip youth to become agents of change. By supporting Loyac's impactful programs and actively contributing to the community, we aim to cultivate an environment where talent and purpose align to advance long-term societal development.'
Ms. Fareah Al Saqqaf, Chairman at Loyac, said: "We take great pride in our long-standing partnership with Markaz, which began at the inception stage and reflects our shared vision through Loyac's journey. This partnership has been translated into several impactful programs that directly contribute to creating sustainable value for the youth within communities. Markaz plays a fundamental and pivotal role in empowering youth and the community through Loyac Kuwait and its branches."
Community Empowerment Initiatives
Markaz's partnership with Loyac in a diverse series of initiatives has significantly contributed to creating a positive social impact. Through programs such as the Winter Aid Distribution Initiative, Green Volunteering, Homes Program, Neqsat Ramadan, Service Is My Joy Program, and the LOYAC X NAEMATI community service initiatives, among others, Markaz has supported underprivileged communities, promoted environmental awareness, and fostered inclusive engagement for individuals with diverse needs.
Professional Empowerment Programs
On a professional level, Markaz supports various key initiatives by Loyac, one of which is the Al Jawhar Program, organized by Loyac Academy of Performing Arts (LAPA). The annual program aims to supply Kuwait youth with the tools needed to become successful media representatives and manage fruitful dialogues. The program also celebrates iconic media personalities that have contributed to the formation of Arab culture at large to build stronger cultural bridges that connect generations. Several Markaz team members were part of the different seasons of the program. The Jawhar Podcast program was also launched as a professional platform to support in transitioning passionate young media enthusiasts from training to professional practice. This initiative helps empower them in the job market and provides them with an exceptional opportunity to reach audiences, marking a true launch of their careers in the media industry.
Additionally, Markaz collaborated through LAPA with the TV media presenter, Ms. Rania Barghout, to conduct a series of training carefully crafted for Markaz staff members, to develop their public communication and speech delivery skills. The intensive training included several key areas, such as the fundamentals of public speaking with a focus on using body language intelligently to enhance the message, breathing and relaxation techniques to manage nerves, crafting speech content tailored to the specific audience and their needs, skills for both prepared and impromptu speaking, overcoming the fear of public speaking, handling media interactions, managing questions, and effectively communicating during crises. Over 30 staff members from Markaz have successfully completed the training course.
Life Skills Empowerment Programs & Workshops
The two entities collaborated on several initiatives to develop life and personal skills, including workshops such as the 7 Habits for Highly Effective People and Teens Workshops, the Young Leaders Program (UK), the Kon Social Entrepreneurship Program, and the Photography Workshop have provided participants with tools to enhance communication, leadership, and critical thinking. By engaging in these programs, Markaz's employees and their families have embraced opportunities for self-improvement and active contribution to a culture of resilience, creativity, and community empowerment, reinforcing Markaz's commitment to sustainable development.
Health and Physical Empowerment
Markaz is a leading supporter of the Loyac AC Milan Soccer School, which aims to continue introducing world-class and innovative coaching practices within Kuwait, helping the youth within the nation to fine-tune their abilities and compete at a high standard.
Markaz continues its more than 15 years of endorsement of the activities of the academy, which has led to the training of more than 780 young players who have developed their skills on the field, learning from international experts, and providing a nurturing structure for youth and children in Kuwait to train and compete in both local and international tournaments, and unleashing their potential.
Corporate Social Responsibility
Markaz places sustainability at the heart of its vision, mission, and values, embodying its unwavering commitment to ethical practices, fairness, and responsible action. Through a comprehensive corporate social and economic responsibility strategy, Markaz actively contributes to community development and the advancement of a resilient and sustainable economy in Kuwait. This approach reflects Markaz's sense of responsibility toward society and the national economy, addressing social, economic, and environmental challenges with innovative, forward-thinking solutions.
-Ends-
About Kuwait Financial Centre 'Markaz'
Established in 1974, Kuwait Financial Centre K.P.S.C 'Markaz' is one of the leading asset management and investment banking institutions in the MENA region with total assets under management of over KD 1.39 billion (USD 4.56 billion) as of 30 September 2024. Markaz was listed on the Boursa Kuwait in 1997. Over the years, Markaz has pioneered innovation through the creation of new investment channels. These channels enjoy unique characteristics and help Markaz widen investors' horizons. Examples include Mumtaz (the first domestic mutual fund), MREF (the first real estate investment fund in Kuwait), and Forsa Financial Fund (the first options market maker in the GCC since 2005), all conceptualized, established, and managed by Markaz.
For further information, please contact:
Sondos Saad
Corporate Communications Department
Kuwait Financial Centre K.P.S.C. "Markaz"
Email: Ssaad@markaz.com
markaz.com
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Middle East Eye
4 hours ago
- Middle East Eye
How Turkey and Qatar are playing an outsized role in Trump's new Middle East
Turkey and Qatar are making themselves crucial to US President Donald Trump's reshaping of the Middle East. Look no further than in Syria, where Qatari gas and cash, along with Turkish military might, are helping war-ravaged Syria back on its feet while Trump tries to fulfil his promise to pull the plug on western interventionists and 'nation builders'. The two countries' rising stock is not going unnoticed among Arab officials. 'Trump has too much on his plate; China, Iran talks, the war in Ukraine. He doesn't want to intervene. In Syria, he has these two local allies who don't mind getting involved in the nitty-gritty details of Syria's reconstruction. He is going to lean on them,' one senior Arab official told Middle East Eye. Qatar and Saudi Arabia are paying the salaries of Syrian government employees. In March, Qatar began supplying gas to Syria via Jordan. Meanwhile, Turkey's government is in talks with Damascus on a defence pact amid Israeli air strikes in Syria. New MEE newsletter: Jerusalem Dispatch Sign up to get the latest insights and analysis on Israel-Palestine, alongside Turkey Unpacked and other MEE newsletters That Turkey and Qatar are the regional powers most active in Syria should not come as a surprise. Turkey shares a long border with Syria and was the last true backer of rebels who fought to oust Bashar al-Assad after most Gulf monarchies gave up on their cause. Qatar was the exception. It was the sole Gulf state to recognise and host Syria's opposition. Conversely, the UAE made a big bet on rehabilitating Assad. MEE revealed that the UAE was negotiating a grand bargain to lift US sanctions on Assad in return for reducing Iran's influence. The talks continued up until the last minute. Assad was toppled in an offensive led by Hay'at Tahrir al-Sham, whose commander, Ahmed al-Sharaa, is Syria's new president. The biggest deal Turkey and Qatar have made in Syria so far was in May. US ambassador to Turkey Tom Barrack assumes Syria envoy post Read More » Along with the US, they signed a $7bn energy agreement that envisions the three countries building four gas power plants in Syria and one solar plant to boost the war-ravaged country's meagre energy supplies. Qatar's UCC construction and energy company, owned by the prominent al-Khayyat family, is set to lead the project. Speaking in Damascus at the signing ceremony, US envoy to Syria Thomas Barrack took the opportunity to praise the 'alignment of these amazing countries". 'A young and prosperous Qatar, one of the most incredible and ancient civilisations in Syria; [and] one of the most dominant empires that ever existed in the Ottoman Empire and the succession of Türkiye.' Barrack framed Syria as the poster child for Trump's vision of a Middle East, where the US was empowering local countries to redress the wrong of Sykes-Picot, the agreement that colonial Britain and France used to divide Syria during WWI. 'That mistake cost generations. We will not make it again,' he wrote on X. 'Need to address the PKK' If there is any doubt about whose voice the US will give the most credence to in Syria, look to Ankara, where Barrack also serves as Trump's ambassador to Turkey. 'The Trump administration understands the Turks have a vital national security interest in Syria. He respects that in a way others in Washington haven't,' Robert Ford, the last US ambassador to Syria, told MEE. 'The US has to work with the Turks otherwise, there will be another war' - Bassam Barabandi, former Syrian diplomat and opposition activist During the Biden administration, Syria was a sore point in US-Turkey ties. US troops first entered Syria in 2014 to fight the Islamic State militant (IS) group. They partnered with the Kurdish-led Syrian Democratic Forces (SDF). Turkey views the SDF as an extension of the outlawed Kurdistan Workers' Party (PKK). The PKK has waged a decades-long guerrilla war in southern Turkey and is labelled a terrorist organisation by the US and the European Union. 'You can't have a stable Syria without addressing the PKK. The US has to work with the Turks, otherwise there will be another war,' Bassam Barabandi, a former Syrian diplomat and opposition activist, told MEE. During his first term in office, Trump tried to withdraw US troops from Syria. His own officials hamstrung him, and his former defence secretary, Jim Mattis, resigned over a partial troop withdrawal. Although US troops were ostensibly in Syria to fight IS, they came to be seen as a force denying territory to Iran. With Tehran's ally Assad gone, that rationale no longer exists. Trump himself says Turkey has 'taken over Syria', alluding to its close ties to Sharaa. He appears to sense this as his chance to withdraw troops, despite pleas from Israel and the SDF to keep them there. Barrack told Turkish media in June that the US planned to downsize from eight bases to one in northeastern Syria. How Trump's allies view Turkey and Qatar Turkey and Qatar have long been seen as close partners. In a sense, they complement each other. Turkey has the second largest army in Nato, but is cash poor. Qatar is one of the world's top exporters of Liquefied Natural Gas, but has just 300,000 nationals. Turkey has a military base in Qatar. Doha made tens of billions of dollars in investments in Turkey during its inflation crisis, providing Turkish President Recep Tayyip Erdogan with an economic lifeline. The two countries' alignment was solidified during the 2011 Arab Spring, when they backed popular protests against rulers like Assad in Syria and Hosni Mubarak in Egypt. Saudi Arabia and the UAE accused them of supporting political Islamists who Abu Dhabi and Riyadh feared would unsettle their monarchies. The rift got nasty in 2017, when a Saudi-led blockade was imposed on Qatar. That Trump should welcome Qatar and Turkish investment in Syria now shows how rapidly the region has reorganised itself. In 2017, he gave a White House speech throwing his weight behind the blockade. Until recently, Trump's Middle East director at the National Security Council was Eric Trager, who has been critical of Qatar. 'You certainly have those in the administration, not the Witkoffs or Barracks, who still believe in a Muslim Brotherhood boogyman. This is deep-seated. So it's interesting to see Trump's really close cohort move beyond this,' Natasha Hall, a Syria expert at the Center for Strategic and International Studies (CSIS, )said, referring to US Middle East envoy, Steve Witkoff. Both of Trump's close advisors enjoy good relations with Qatar, Saudi Arabia and the UAE. The UAE's hotspot troubles The Arab Spring descended into a slew of conflicts, of which Syria was just one. After the Nato-led removal of Muammar Gaddafi in Libya, Turkey backed a government in Tripoli while Saudi Arabia and the UAE threw their support behind a rogue general and one-time CIA asset, Khalifa Haftar. The UAE also backed Egyptian President Abdel Fattah el-Sisi, the general who overthrew the democratically elected president, Mohammed Morsi, whom Erdogan backed. Turkey and Qatar's growing clout in the Middle East vis-a-vis Syria contrasts with mounting troubles for the UAE in some of these hotspots. UAE lobbying Trump administration to reject Arab League Gaza plan, officials say Read More » Ties between Egypt and the UAE are becoming seriously frayed, although both sides are trying to downplay it, Arab officials tell MEE. Sisi's economy is in crisis, but he has failed to push through the reforms that the UAE, his top backer, wants. The Emiratis have lobbied against Cairo in Washington, MEE revealed. The UAE's ambassador to the US publicly backed a plan floated by Trump to forcibly displace Palestinians from Gaza - a thought that unnerves Egyptian generals. Libya remains divided. Haftar's bid to conquer Tripoli failed in 2020. His son and likely successor, Saddam, has even courted Turkey and Qatar as their power rises. He visited Doha and Ankara this year. The parliament in Eastern Libya controlled by him is weighing whether to agree to a contentious maritime deal that Turkey favours. As Turkey and Qatar sign energy deals in Damascus under US auspices, the UAE is bogged down in a brutal civil war in Sudan. There it is backing the paramilitary Rapid Support Forces (RSF) against the Sudanese army, which is backed by Turkey, Egypt and Iran. Litmus test Syria is going to be a test case as the first post-Arab Spring country to be rebuilt after the 2021 al-Ula agreement, in which the Gulf states agreed to put their differences behind them and mend fences. Qatar and Saudi Arabia have patched up ties, but the Qataris and Emiratis still have a chilly relationship. The same goes for the Turks. 'Syria's greatest benefit is that Assad was ousted after al-Ula,' a Syria analyst in the UAE told MEE, speaking on condition of anonymity. Trump announced in Saudi Arabia that he was lifting all US sanctions on Syria, and he credited both Erdogan and Crown Prince Mohammed bin Salman with convincing him to do so. 'The Saudis have been just as instrumental as the Turks and Qataris, if not more, in convincing Trump to drop sanctions on Syria. They want a stable Syria in order to focus on their own economic development at home,' Anna Jacobs, a non-resident fellow at the Arab Gulf States Institute, told MEE. 'The new Saudi looks for interest, not emotion or ideology,' Barabandi told MEE. 'They are with Turkey and Qatar on Syria. The US's goal is to facilitate the flow of GCC money into Syria. That's it.' Even the UAE is stepping in and trying to gain influence. In May, state-owned Dubai Ports World signed a pledge to invest $800m to modernise the port of Tartus. The analyst in the UAE said Sharaa's government welcomed the UAE's investment in Tartus because it needed a country that was seen as agreeable to Russia, which still has a military base there. France's CMA CGM shipping inked a 30-year deal to operate Latakia port in Syria. 'Sharaa couldn't have Turkey or a European state come in. Russia would have complained about that. The UAE is a friend of Russia,' the analyst said. The UAE's Al Habtoor group, a massive conglomerate that spans real estate to the automotive industry, is set to send a delegation to Syria this week. Ford said that Turkey, Qatar, the UAE, and Saudi Arabia all have a convergence of interests in Syria to ensure its transition is stable, and Iran, Assad's old patron, stays out. 'I'm not saying Abu Dhabi is comfortable with a conservative Islamist in power, but they all want to see Sharaa reduce Iran's influence,' he said. No nation-building The UAE, which has the closest ties to Israel among Gulf states, also brokered secret talks between Syria and Israel, Reuters reported in May. Israel pummelled Syria after Assad's removal and has sent troops to occupy a swath of the southeast, south of Damascus. MEE previously reported that the US lobbied Turkey and Israel into deconfliction talks. 'I think the Emiratis, and other Gulf states' number one concern is that there not be an outbreak of violence between the Turks and Israelis in Syria or the Iranians and Israelis,' Ford said. Syria after Assad: Sharaa's delicate balancing act with Israel Read More » He said while Turkey and Qatar have stepped up in Syria, it's a leap to say the US is recognising it as a sphere of their influence. 'That is too nineteenth century,' he said. 'The Trump people don't object to Turkey and Qatar getting involved in Syria. But they don't object to the Saudis and Emiratis getting involved either. Ultimately, the goal is for commerce between Israel and Syria.' Still, regional officials say Sharaa's ascent to power has bolstered Turkey and Qatar's power in the Levant. 'Sharaa will take Emirati money, but he won't trust them with security,' the Arab official told MEE. 'The UAE is on their back foot.' However, the real change is that Syria is not talking about elections. 'Sharaa has gone out of his way to prove that he won't be part of any political Islamist movement beyond Syria's borders,' the UAE-based analyst said. 'And he isn't mentioning democracy.'
Gulf Today
12 hours ago
- Gulf Today
SBA concludes its participation in Readmagine 2025 in Madrid
The Sharjah Book Authority (SBA) has concluded its participation in Readmagine 2025, one of Europe's leading platforms for innovation in the publishing sector. Held in Madrid and organised by the Germán Sánchez Ruipérez Foundation (FGSR), the event marked Sharjah's debut as the first Arab city to participate, reaffirming the emirate's status as a regional and global centre for publishing development and international collaboration. During the international event, SBA participated in a session titled 'Empowering Emirati publishers through the Sharjah Publishing Sustainability Fund (Onshur),' featuring Iman Ben Chaibah, Director of strategic initiatives and global markets at SBA, alongside Shatha Nasser, founder of Kairos Publishing House and one of the winners in the fund's inaugural launch track. In the session, Iman Ben Chaibah reaffirmed Sharjah's commitment to shaping a sustainable and resilient future for the publishing industry in the UAE and the wider region. She introduced Onshur as a strategic initiative designed to empower publishers through three integrated tracks: launch, scale and disrupt. 'The fund was established to address a fundamental challenge: how to ensure the continued strength and growth of the publishing sector over the long term. It responds to this need by offering a well-rounded framework of training, financial backing and professional mentorship, equipping publishers to tackle industry demands and grow their businesses with assurance and skill.' She went on to credit the vision of Sheikha Bodour Al Qasimi, Chairperson of SBA, for shaping the fund's comprehensive framework. 'Onshur offers a fully integrated support system that combines professional guidance, targeted training and access to a network of industry partners and specialists. It also provides practical resources such as trade licences, co-working spaces, affordable printing services and translation support. We were encouraged by the strong international interest in the Onshur model during the event, and we have already scheduled several follow-up meetings to explore potential areas of collaboration.' WAM
Web Release
13 hours ago
- Web Release
Hamdan Bin Mohammed Smart University Explores Academic and Research Cooperation with Port Said University and the British University in Egypt
As part of its ongoing efforts to expand its network of academic partnerships and foster knowledge exchange across the Arab world, His Excellency Dr. Mansoor Al Awar, Chancellor of Hamdan Bin Mohammed Smart University (HBMSU), met with the President of Port Said University and paid an official visit to the British University in Egypt (BUE) to explore avenues for academic and research collaboration, as well as the development of joint educational programs that promote innovation and align with development and labour market needs. During his meeting with Prof. Dr. Sherif Saleh, President of Port Said University, both parties reviewed potential areas of academic collaboration and the development of joint programs that respond to national development priorities. The meeting featured a rich exchange of perspectives on aligning academic outcomes with market demands. H.E. Dr. Mansoor Al Awar praised Port Said University's advanced model, especially its effective partnership with the private sector in managing its university hospital, describing it as an 'inspiring experience.' For his part, Prof. Dr. Sherif Saleh expressed his appreciation for the upcoming collaboration with HBMSU, commending its pioneering role in smart education and academic innovation. During his visit to the British University in Egypt, H.E. Dr. Mansoor Al Awar met with Prof. Dr. Mohamed Lotfy, President of BUE, where they discussed prospects for academic cooperation and knowledge exchange between the two institutions. The HBMSU delegation was introduced to BUE's academic framework and institutional values, which are rooted in excellence and innovation. The visit also included an overview of the university's sustainability initiatives, the Student Union experience, Digital Curriculum development, the Financial Lab, and internship and student exchange programs — all of which reflect the university's commitment to providing its students with a world-class educational experience. The delegation also toured the university's advanced facilities, gaining insight into the modern infrastructure supporting its academic mission. These efforts reflect HBMSU's strong commitment to advancing smart learning across the Arab region and strengthening partnerships with distinguished universities to develop flexible and innovative educational models that meet the needs of development and the labour market, while empowering a new generation capable of leading positive change in their communities.
