Latest news with #Al-Bahar
Kuwait Times
22-05-2025
- Business
- Kuwait Times
Shaikha Al-Bahar only Kuwaiti on Fortune's 100 powerful businesswomen in 2025 list
Al-Bahar stands as second-highest ranked executive from Mideast KUWAIT: Shaikha Al-Bahar, Deputy Group Chief Executive Officer of National Bank of Kuwait (NBK), has been recognized as Kuwait's most influential businesswoman and the sole Kuwaiti featured in Fortune Magazine's prestigious 2025 list of the 100 Most Powerful Women in Business. Al-Bahar stands as the second-highest ranked executive from the Middle East region on this coveted list. The list, compiled by Fortune editors, is based on company size and health of the business, as well as an executive's career trajectory, influence, innovation and efforts to make business better. More than 50 women currently lead Fortune 500 companies, yet only 20 made this year's list — a testament to how increasingly competitive the ranking has become. Featured in the 2025 ranking are some of the most influential figures in global business, including Mary Barra, Chair and CEO of General Motors; Julie Sweet, Chair and CEO of Accenture; Jane Fraser, CEO of Citigroup; Lisa Su, Chair and CEO of AMD; and Ana Botín, Executive Chairman of Banco Santander. In her role at NBK, Al-Bahar continues to play a pivotal part in driving the bank's sustained growth and transformation. Her leadership spans critical initiatives including digital innovation, sustainability strategies, and policy development to extend NBK's regional footprint. She has been instrumental in advancing sustainable finance efforts aligned with the global transition towards a low-carbon economy and climate risk mitigation. Driven by her strategic vision, NBK reinforced its position as Kuwait's largest bank and a regional powerhouse with top-tier credit ratings. Building on this momentum, she spearheaded the Group's digital transformation, notably launching 'Weyay,' Kuwait's first fully digital bank tailored to redefine financial engagement for younger generations. Al-Bahar was also a key architect behind NBK's Sustainable Financing Framework, embedding global ESG standards into the bank's operations. Beyond business, Al-Bahar is a strong advocate for social impact. She launched NBK RISE, a transformative initiative aimed at empowering women in leadership roles and led the 'Bankee' Financial Literacy Program in partnership with the Ministry of Education and the Public Authority for Anti-Corruption 'Nazaha.' In the 2024–2025 academic year alone, the program reached more than 32,000 students and 7,200 teachers, marking a significant step forward in advancing financial literacy among Kuwait's youth.
Arab Times
20-05-2025
- Business
- Arab Times
NBK's Shaikha Al-Bahar only Kuwaiti on Fortune's 100 list
KUWAIT CITY, May 20, (Agencies): Deputy Group Chief Executive Officer (CEO) of the National Bank of Kuwait (NBK) Shaikha Al-Bahar is the only Kuwaiti who made it to the 2025 100 Most Powerful Women in Business List that Fortune released on Tuesday. The list consists of a hundred influential businesswomen in the finance, technology, health care, telecom, retail, energy and other industries. In 1977, Al-Bahar joined NBK, where she proved her leadership capabilities as she rose through the ranks over the years. At present, she is the only woman in the executive management team of the bank. She currently heads NBK-France and Egypt; in addition to her post as board member of NBK (International) -- the subsidiary of the bank in the United Kingdom. Al-Bahar was the brain behind the launching of NBK RISE, a program that aims to empower women leaders and train them within nine months to assume leadership posts. NBK is one of the largest financial institutions in Kuwait and one of the leading banks in the region. The total value of its assets as at the end of March reached more than $135 billion. Group CEO of First Abu Dhabi Bank in the United Arab Emirates Hana Al-Rostamani joins Al-Bahar as the only two women from the Gulf on the list, ranking 76th and 92nd respectively. The Fortune editors compiled the list based on company size and health; in addition to an executive's career path, influence, innovation, and efforts to make business better. The 2025 list includes 52 women from the United States of America and 48 from other countries as follows: eight from China; seven each from France and the United Kingdom; three each from Germany, Singapore and Brazil; two each from Australia, Hong Kong, Japan and Spain; and one each from Kuwait and the United Arab Emirates. Chief Operator at Costco and merchant Claudine Adamo, who ranked 43rd, is one of 16 newcomers. She helped millions of Americans navigate inflation by keeping prices low on essentials, and the next-gen execs such as ByteDance CFO Julie Gao (81st), who steered the finances of the TikTok owner through its tangles with the US government. Following are the top 10 Most Powerful Women in Business in 2025: 1. Mary Barra, Chair and CEO, GM (U.S.) 2. Julie Sweet, Chair and CEO, Accenture (U.S.) 3. Jane Fraser, CEO, Citigroup (U.S.) 4. Lisa Su, Chair and CEO, AMD (U.S.) 5. Ana Botín, Executive Chairman, Banco Santander (Spain) 6. Tan Su Shan, Deputy CEO and Group Head of Institutional Banking, DBS Group (Singapore) 7. Thasunda Brown Duckett, President and CEO, TIAA (U.S.) 8. Marta Ortega, Chairperson, Inditex (Spain) 9. Abigail Johnson, Chairman and CEO, Fidelity Investments (U.S.) 10. Meng Wanzhou, Deputy Chairwoman, Rotating Chairwoman, and CFO, Huawei (China)
Kuwait Times
19-05-2025
- Business
- Kuwait Times
Shaikha Al-Bahar: PPP is a national necessity and key pillar in realizing Kuwait Vision 2035
NBK Deputy Group CEO delivers a keynote speech at 'Third Kuwait PPP Conference' KUWAIT: Shaikha Al-Bahar, Deputy Group CEO of National Bank of Kuwait (NBK) stated that Public-Private Partnership (PPP) has become a national necessity, emphasizing that it represents the cornerstone of Kuwait's future economic and developmental trajectory. Al-Bahar noted that PPP projects are a key pillar in realizing Kuwait Vision 2035 and the country's broader development objectives, contributing to the creation of sustainable value for the national economy. Her remarks were delivered during the opening of the 'Third Kuwait PPP Conference (PPPKW3)' held under the patronage and in the presence of Noura Al-Fassam—Minister of Finance, Minister of State for Economic Affairs and Investment, and Chair of the Higher Committee for Public-Private Partnership Projects—with the participation of public and private sector institutions, alongside key regulatory authorities. In her address, Al-Bahar highlighted that Kuwait's PPP model offers promising opportunities, particularly in the energy, infrastructure, logistics, and healthcare sectors. She pointed out that such partnerships can play a vital role in diversifying Kuwait's economy by fostering cooperation in sectors such as renewable energy, technology, and tourism—opening new avenues for growth, generating job opportunities for Kuwaiti youth, and enhancing Kuwait's regional competitiveness. Long-term partnership 'At NBK, we take pride in being a long-standing partner in Kuwait's national development journey, having financed and supported some of the largest infrastructure and public sector projects in the country's history. As Kuwait's leading financial institution, we remain steadfast in our commitment to advancing partnership initiatives by leveraging our deep market insight, decades of experience, and robust network of international partners to drive successful project financing and execution.' Eng Noura Al-Fassam (left) and Shaikha Al-Bahar. Shaikha Al-Bahar delivers her speech at the opening of the conference. Shaikha Al-Bahar at NBK's pavilion at the exhibition held alongside the conference. Minister of Finance Eng Noura Al-Fassam honors Shaikha Al-Bahar. She explained that NBK's role is not limited to financing but extends to combining regional expertise, investor confidence, and collaborative efforts to propel the progress and prosperity of the national economy. She emphasized the bank's unwavering commitment to this role, noting its contribution to facilitating the success of partnership projects through innovative financing solutions, advisory services, and capital markets offerings. She also reiterated NBK's full readiness to support upcoming partnership initiatives—particularly those focused on sustainability, which the bank considers among its top strategic priorities. Huge potential Despite Kuwait's abundant financial resources, Al-Bahar emphasized that navigating the accelerating global complexities requires an innovative approach and a strong framework that leverages the private sector's efficiency, expertise, and capital to fund world-class infrastructure, enhance public services, and drive economic diversification. She underscored Kuwait's immense potential to build a future-ready economy underpinned by cutting-edge infrastructure. She added that partnership projects have the potential to take the lead in key sectors, including transportation, smart cities, social development, healthcare, education, housing, renewable energy, technology, and tourism. Regulatory framework 'To ensure the continued success of partnership projects and to maximize their effectiveness in driving national economic growth, it is essential to develop a solid regulatory framework, and a supportive environment built on streamlined decision-making, well-defined legal structures, and transparent procedures,' Al-Bahar stated. She stressed that ongoing dialogue and cooperation between the public and private sectors are vital to improving these frameworks and fostering an environment conducive to successful partnerships. Furthermore, Al-Bahar praised the recent regulatory reforms and Kuwait Public-Private Partnership Authority's efforts to streamline procedures and foster viable partnership models. She recognized that these advancements are crucial for enhancing Kuwait's competitiveness, while also highlighting challenges related to regulatory clarity, governance, and risk-sharing. She called on all relevant stakeholders to act swiftly and collaboratively to address these issues and attract both local and international investments. She further stated that PPPs should evolve beyond traditional infrastructure to encompass areas such as education, digital transformation, healthcare technology, and renewable energy. She reaffirmed NBK's commitment to playing a central role in this journey by mobilizing capital, fostering innovation, and advancing sustainable development in line with Kuwait Vision 2035. Al-Bahar concluded her speech by addressing attendees from both the public and private sectors, stating: 'Let us seize this opportunity as a starting point for collective responsibility in shaping a future where innovation flourishes and the well-being of our beloved country is safeguarded. Together—government, private sector, and financial institutions—let us work to build a stronger, more diversified, and inclusive Kuwaiti economy.' Kuwait 3rd Conference for Public-Private Partnership, held over two days, brings together a wealth of international, regional, and local expertise. The event's program provides valuable insights into best practices, industry standards, and practical experiences in PPPs, equipping stakeholders to address potential challenges and empowering relevant authorities to identify and implement effective solutions.
Arab Times
18-05-2025
- Business
- Arab Times
Sh a ikha Al-Bahar: Public-Private Partnership is a national necessity and a k ey pillar in realizing Kuwait Vision 2035
KUWAIT CITY, May 18: Ms. Shaikha Al-Bahar, Deputy Group CEO of National Bank of Kuwait (NBK) stated that Public-Private Partnership (PPP) has become a national necessity, emphasizing that it represents the cornerstone of Kuwait's future economic and developmental trajectory. Al-Bahar noted that PPP projects are a key pillar in realizing Kuwait Vision 2035 and the country's broader development objectives, contributing to the creation of sustainable value for the national economy. Her remarks were delivered during the opening of the 'Third Kuwait PPP Conference (PPPKW3)' held under the patronage and in the presence of Eng. Noura Al-Fassam—Minister of Finance, Minister of State for Economic Affairs and Investment, and Chair of the Higher Committee for Public-Private Partnership Projects—with the participation of public and private sector institutions, alongside key regulatory authorities. In her address, Al-Bahar highlighted that Kuwait's PPP model offers promising opportunities, particularly in the energy, infrastructure, logistics, and healthcare sectors. She pointed out that such partnerships can play a vital role in diversifying Kuwait's economy by fostering cooperation in sectors such as renewable energy, technology, and tourism—opening new avenues for growth, generating job opportunities for Kuwaiti youth, and enhancing Kuwait's regional competitiveness. Long-term Partnership 'At NBK, we take pride in being a long-standing partner in Kuwait's national development journey, having financed and supported some of the largest infrastructure and public sector projects in the country's history. As Kuwait's leading financial institution, we remain steadfast in our commitment to advancing partnership initiatives by leveraging our deep market insight, decades of experience, and robust network of international partners to drive successful project financing and execution.' She explained that NBK's role is not limited to financing but extends to combining regional expertise, investor confidence, and collaborative efforts to propel the progress and prosperity of the national economy. She emphasized the bank's unwavering commitment to this role, noting its contribution to facilitating the success of partnership projects through innovative financing solutions, advisory services, and capital markets offerings. She also reiterated NBK's full readiness to support upcoming partnership initiatives—particularly those focused on sustainability, which the bank considers among its top strategic priorities. Huge Potential Despite Kuwait's abundant financial resources, Al-Bahar emphasized that navigating the accelerating global complexities requires an innovative approach and a strong framework that leverages the private sector's efficiency, expertise, and capital to fund world-class infrastructure, enhance public services, and drive economic diversification. She underscored Kuwait's immense potential to build a future-ready economy underpinned by cutting-edge infrastructure. She added that partnership projects have the potential to take the lead in key sectors, including transportation, smart cities, social development, healthcare, education, housing, renewable energy, technology, and tourism. Regulatory Framework 'To ensure the continued success of partnership projects and to maximize their effectiveness in driving national economic growth, it is essential to develop a solid regulatory framework, and a supportive environment built on streamlined decision-making, well-defined legal structures, and transparent procedures,' Al-Bahar stated. She stressed that ongoing dialogue and cooperation between the public and private sectors are vital to improving these frameworks and fostering an environment conducive to successful partnerships. Furthermore, Al-Bahar praised the recent regulatory reforms and Kuwait Public-Private Partnership Authority's efforts to streamline procedures and foster viable partnership models. She recognized that these advancements are crucial for enhancing Kuwait's competitiveness, while also highlighting challenges related to regulatory clarity, governance, and risk-sharing. She called on all relevant stakeholders to act swiftly and collaboratively to address these issues and attract both local and international investments. She further stated that PPPs should evolve beyond traditional infrastructure to encompass areas such as education, digital transformation, healthcare technology, and renewable energy. She reaffirmed NBK's commitment to playing a central role in this journey by mobilizing capital, fostering innovation, and advancing sustainable development in line with Kuwait Vision 2035. Al-Bahar concluded her speech by addressing attendees from both the public and private sectors, stating: 'Let us seize this opportunity as a starting point for collective responsibility in shaping a future where innovation flourishes and the well-being of our beloved country is safeguarded. Together—government, private sector, and financial institutions—let us work to build a stronger, more diversified, and inclusive Kuwaiti economy.' Kuwait 3rdConference for Public-Private Partnership, held over two days, brings together a wealth of international, regional, and local expertise. The event's program provides valuable insights into best practices, industry standards, and practical experiences in PPPs, equipping stakeholders to address potential challenges and empowering relevant authorities to identify and implement effective solutions.
Zawya
29-04-2025
- Business
- Zawya
Shaikha Al-Bahar: Continuing excellence and driving innovation are key pillars of NBK's success
The government's efforts to expand the role of the private sector are set to stimulate economic activity and support the banking sector Locally, the bank remains focused on advancing digital services, diversifying its customer base, and enhancing their banking experience NBK seeks to strengthen its presence in key markets, improve operational efficiency, and pursue sustainable financing opportunities Excluding the impact of the new tax, NBK's profits in the first quarter of 2025 recorded 1% year-on-year growth The impact of the new tax regime on the Group's financial statements is transitional, with the annual effect expected to fade after 2025 We continue to focus on fee income to diversify revenue sources and reduce the impact of interest rate fluctuations Global trade war and new US tariffs heighten uncertainty surrounding future economic prospects NBK maintains an optimistic outlook for Kuwait, supported by emerging opportunities and government progress on strategic and legislative fronts We expect the operating environment to continue improving locally, with strong infrastructure spending and economic reforms In an interview with CNBC International, Ms. Shaikha Al-Bahar, Deputy Group Chief Executive Officer of National Bank of Kuwait (NBK) affirmed the Group's commitment to maintaining excellence and fostering innovation as key pillars of its success, while emphasizing the continued use of technology and data-driven strategies to seize emerging opportunities across NBK's growth markets. Al-Bahar noted that, in Kuwait, the bank remains focused on developing digital services, diversifying its customer base, and enhancing the banking experience. Internationally, NBK is working to strengthen its presence in key markets, improve operational efficiency, explore sustainable financing opportunities, and expand cross-selling activities. She further highlighted that NBK Group is reinforcing its regional leadership through NBK Wealth, focusing on the enhancement of its financial advisory and investment services. First Quarter Financial Results Commenting on NBK's financial results for the first quarter of 2025, Al-Bahar said: 'We delivered solid profit growth in the first quarter of 2025, despite the impact of the newly implemented domestic minimum top-up tax ("DMTT") of 15% on the profits of Kuwaiti constituent entities of large Multinational Enterprises ("MNEs"). This tax, rolled out in different markets in which we operate in, raised the effective tax rate to 16.3% in the first quarter of 2025, compared to 9.2% in 2024'. She explained that this led to a drop in net profits by 8.5% year-on-year, adding that excluding the impact of the new tax regime, NBK achieved a growth rate close to 1% in pre-tax profits during the first three months of 2025, supported by robust growth in lending and investment activities, in line with the bank's diversification strategy. 'The implementation of the DMTT tax system was not surprising, given that the related laws were introduced globally two years ago. We had anticipated their actual enforcement in 2025 across most of our regional markets,' Al-Bahar said. She added that while this new tax structure will have a transitional impact on the bank's quarterly financials during 2025, its impact will fade beyond this year. Al-Bahar underscored the strength of NBK's financial position, backed by a solid balance sheet, strong capitalization, high liquidity levels, robust asset quality, and a prudent approach to risk management Our NPL/gross loan ratio stood at 1.3%, while the NPL coverage ratio reached 251%. She underscored that the strong growth in non-interest income, which rose by 4.3%, helped offset the pressure on net interest income caused by lower interest rates and a shift in the asset mix. Al-Bahar added that the asset mix is expected to improve with the deployment of excess liquidity into anticipated government issuances, likely to materialize soon under the new financing and liquidity law that the market has long awaited. She emphasized that this move would enhance profit margins, as the bank continues to prioritize fee income to diversify its revenue streams and mitigate exposure to interest rate volatility. Trade War On the impact of the global trade war and geopolitical tensions in the MENA region, Al-Bahar stressed that the global economic environment remains highly volatile. She explained that, along with persistent geopolitical tensions and growing uncertainty surrounding monetary policies, the recent US tariffs have further clouded future economic prospects. Al-Bahar noted that while the region remains relatively protected due to the exemption of oil and gas exports from tariffs, the GCC economies are more vulnerable to oil price fluctuations. She added that oil price volatility is likely to persist in the short term as global economic growth projections continue to be revised downward, which in turn impacts oil demand. 'As for Kuwait, despite geopolitical tensions and the looming threat of a trade war weighing on growth prospects, we remain confident that the operating environment and overall economic performance will continue to improve, supported by sustained momentum in infrastructure spending and ongoing economic and legislative reforms.' Al-Bahar added. Commenting on NBK's exposure to risks from a potential decline in oil prices, Al-Bahar acknowledged that the level of uncertainty that prevails today, it is challenging to take a solid view of economic activity going forward, even in the region. She noted that under a scenario of reduced oil price volatility, regional GDP growth could recover, supported by steady increases in oil production, which would boost economic performance across the GCC. Optimistic Outlook Al-Bahar expressed an optimistic outlook for Kuwait, fueled by emerging opportunities and the ongoing progress of the government's strategic and legislative agenda. She highlighted that economic diversification remains a central focus, with increased support for the private sector and its active participation in driving economic growth, which will positively impact the banking sector. She conveyed her strong expectations and optimism about the country's continued positive trajectory. On the potential effects of this environment on credit demand, Al-Bahar highlighted the anticipated launch of a series of mega projects. She shared her confidence in the continued momentum of project awards, noting that this would create significant opportunities for banks and revive credit activity. In the first quarter, contract awards reached $1.3 billion, with planned awards amounting to $33 billion, representing a substantial opportunity for banks to outperform last year. Additionally, Al-Bahar pointed to the upcoming mortgage law, which is expected to facilitate home loans for customers, offering further avenues for lending. She noted that banks have strong liquidity that they hope to invest in the upcoming government issuance, particularly in alignment with the Finance and Liquidity Law. 'We are extremely optimistic and confident that the business environment will show significant improvement compared to previous years. With the IMF forecasting a 4.2% growth for the GCC economy, this presents a tremendous opportunity for all banks,' Al-Bahar explained.
