Latest news with #OthmanTawfeqe
Al Bawaba
02-03-2025
- Business
- Al Bawaba
KIB launches 'Fast Transfer' remittance service powered by Visa through the KIB Mobile app in Kuwait
Kuwait International Bank (KIB) has announced the launch of its latest digital service, 'Fast Transfer', available exclusively on the KIB mobile banking application. This new international remittance service is launched in collaboration with Visa, a world leader in digital payments, to enable the Bank's retail customers to transfer funds internationally to predefined beneficiaries' bank accounts with unmatched speed, transparency and convenience. Through this partnership, KIB is the first bank in Kuwait to enable Fast Transfer based on the Visa Direct Account Capability platform for its customers. By integrating Visa Direct Account Capability, KIB's 'Fast Transfer' service ensures that beneficiaries receive the full remitted amount without any deductions, providing a seamless and reliable experience. With support for 40 international destinations, the service offers instant transfer capabilities in many countries, ensuring funds are delivered in record time. KIB's vision for this service is to raise the cross-border payment standards in Kuwait through competitive foreign exchange rates, real-time transaction tracking capabilities, and zero hidden costs or beneficiary deductions, all from the convenience of a mobile banking app. Highlighting the significance of this launch, Mohamed Atef Elshareef, General Manager of Digital Innovation and Data Intelligence at KIB stated: 'Our new 'Fast Transfer' service reflects KIB's commitment to redefining digital banking experiences. With the integration of Visa Direct, our customers can now experience international money transfers with exceptional speed, transparency, and reliability. This represents yet another step in KIB's mission to empower customers with innovative banking solutions that cater to their daily needs.' Meanwhile, Othman Tawfeqe, General Manager of the Retail Banking Department, said: 'Our focus has always been on empowering our customers with convenient, secure, and cost-effective digital solutions, and the launch of 'Fast Transfer' is a testament to KIB's strategy of putting customer-centric innovation at the heart of everything we do. We strive to strengthen our relationships with all customer segments and enhance financial inclusion through advanced technologies that deliver speed and transparency in transactions, solidifying KIB's position among the leaders in innovative financial solutions.' In his turn, Fahad Al-Bader, General Manager of the Operations Department at KIB, stated: 'The launch of the swift transfer service is a significant step toward enhancing operational efficiency at KIB. We have focused on streamlining international transfer processes by leveraging the latest technologies to ensure speed and accuracy. Our commitment to continuous innovation allows us to enhance the quality of banking services, deliver added value, strengthen customer trust, and meet evolving needs in an increasingly dynamic financial landscape.' From his side, Mohamed Reyad, Visa's Country Manager for Kuwait, said: 'We are excited to see KIB become the first bank in Kuwait to use Visa Direct Account capability to deliver the enhanced remittance experience a growing number of consumers seek. With Kuwait among the largest source markets of remittances globally, this partnership will help reinforce Kuwait's position as a leader in global remittances while supporting the government's innovation agenda. We look forward to similar collaborations with our local partners so more consumers in Kuwait can enjoy a better remittance experience.' The new service is available to all KIB retail customers. Customers can access the 'Fast Transfer' feature via the KIB mobile banking app under the International Transfers section. With plans to expand its corridor network reach and include additional destinations and currencies in the future, KIB continues to solidify its position as a leader in digital banking innovation.
Zawya
02-03-2025
- Business
- Zawya
KIB launches 'Fast Transfer' remittance service powered by Visa through the KIB Mobile app in Kuwait
Kuwait: Kuwait International Bank (KIB) has announced the launch of its latest digital service, 'Fast Transfer', available exclusively on the KIB mobile banking application. This new international remittance service is launched in collaboration with Visa, a world leader in digital payments, to enable the Bank's retail customers to transfer funds internationally to predefined beneficiaries' bank accounts with unmatched speed, transparency and convenience. Through this partnership, KIB is the first bank in Kuwait to enable Fast Transfer based on the Visa Direct Account Capability platform for its customers. By integrating Visa Direct Account Capability, KIB's 'Fast Transfer' service ensures that beneficiaries receive the full remitted amount without any deductions, providing a seamless and reliable experience. With support for 40 international destinations, the service offers instant transfer capabilities in many countries, ensuring funds are delivered in record time. KIB's vision for this service is to raise the cross-border payment standards in Kuwait through competitive foreign exchange rates, real-time transaction tracking capabilities, and zero hidden costs or beneficiary deductions, all from the convenience of a mobile banking app. Highlighting the significance of this launch, Mohamed Atef Elshareef, General Manager of Digital Innovation and Data Intelligence at KIB stated: 'Our new 'Fast Transfer' service reflects KIB's commitment to redefining digital banking experiences. With the integration of Visa Direct, our customers can now experience international money transfers with exceptional speed, transparency, and reliability. This represents yet another step in KIB's mission to empower customers with innovative banking solutions that cater to their daily needs.' Meanwhile, Othman Tawfeqe, General Manager of the Retail Banking Department, said: 'Our focus has always been on empowering our customers with convenient, secure, and cost-effective digital solutions, and the launch of 'Fast Transfer' is a testament to KIB's strategy of putting customer-centric innovation at the heart of everything we do. We strive to strengthen our relationships with all customer segments and enhance financial inclusion through advanced technologies that deliver speed and transparency in transactions, solidifying KIB's position among the leaders in innovative financial solutions.' In his turn, Fahad Al-Bader, General Manager of the Operations Department at KIB, stated: 'The launch of the swift transfer service is a significant step toward enhancing operational efficiency at KIB. We have focused on streamlining international transfer processes by leveraging the latest technologies to ensure speed and accuracy. Our commitment to continuous innovation allows us to enhance the quality of banking services, deliver added value, strengthen customer trust, and meet evolving needs in an increasingly dynamic financial landscape.' From his side, Mohamed Reyad, Visa's Country Manager for Kuwait, said: 'We are excited to see KIB become the first bank in Kuwait to use Visa Direct Account capability to deliver the enhanced remittance experience a growing number of consumers seek. With Kuwait among the largest source markets of remittances globally, this partnership will help reinforce Kuwait's position as a leader in global remittances while supporting the government's innovation agenda. We look forward to similar collaborations with our local partners so more consumers in Kuwait can enjoy a better remittance experience.' The new service is available to all KIB retail customers. Customers can access the 'Fast Transfer' feature via the KIB mobile banking app under the International Transfers section. With plans to expand its corridor network reach and include additional destinations and currencies in the future, KIB continues to solidify its position as a leader in digital banking innovation. About KIB Kuwait International Bank (KIB) is a bank that operates according to the Islamic Shari'ah, based in the State of Kuwait. Incorporated in 1973, and originally known as Kuwait Real Estate Bank, KIB made the transition to its current Islamic operating model in 2007. In 2018, KIB embarked on a new phase of its journey full of innovation and development. As part of its new strategic direction, the Bank focuses on offering a next-level customer experience under the slogan: 'Bank for Life'. Through a network of branches spread across the State of Kuwait, KIB offers a broad range of banking products and services, as well as innovative digital banking solutions in line with international best standards. As part of its duty towards the community, the Bank also encompasses a leading social responsibility program that aims at positively impacting all members of the community through a wide range of impactful initiatives and activities. Today, KIB has taken concrete steps in implementing its new strategic objectives. The Bank has cemented its role as a key player in the local banking industry and has continued to maintain its strong financial performance; enabling it to be globally recognized for its strong credit rating and financial position.
Zawya
24-02-2025
- Business
- Zawya
The Stadium proves to be an exceptional success beyond expectations
Kuwait: Kuwait International Bank (KIB) announced the successful conclusion of the third season of KIB | The Stadium championship, which exceeded all expectations. The event garnered significant audience engagement and was enjoyed by attendees and participating riders from various countries, including Kuwait, Argentina, Bahrain, Belarus, Belgium, Germany, the United Kingdom, Hungary, India, Italy, Jordan, the Netherlands, Saudi Arabia, and Spain. This achievement played a vital role in promoting sports tourism, stimulating the local economy and domestic trade, and supporting small and medium-sized enterprises. The championship drew a large crowd, creating a thrilling and sportsmanlike atmosphere of intense competition. The closing ceremony was attended by several prominent figures, including H. E. the Minister of Information and Culture and Minister of State for Youth Affairs Abdulrahman Baddah Al-Mutairi; Vice Chairman and CEO of KIB Raed Jawad Bukhamseen; Vice President of the Kuwait Olympic Committee Sheikh Mubarak Faisal Nawaf Al-Ahmad Al-Sabah; Acting Director General of the Public Authority for Sports Bashar Abdullah; President of the Kuwait Equestrian Federation Masoud Hayat; Secretary of the Kuwait Equestrian Federation Ghazi Al-Jariwi; General Manager of the Retail Banking Department at KIB Othman Tawfeqe; Chief Executive Officer of Suffix Ahmed Al Huzami; Manager of the Corporate Communications Unit at KIB Marwa Marafie; in addition to a number of employees from KIB and Suffix. Commenting on the success of the three-week championship, Othman Tawfeqe, General Manager of the Retail Banking Department at KIB, said: 'We are extremely proud of the success of the third edition of KIB | The Stadium. This event not only highlighted Kuwait's remarkable equestrian talent but also reinforced the country's position as a premier destination for hosting and organizing international sporting events. We congratulate all the winners and participants on their outstanding performances.' As the title sponsor of the championship organized by Suffix, KIB partnered with leading experts and specialists in sports event management for KIB | The Stadium. A world-class equestrian arena was built along Marina Beach, providing a unique and innovative experience for the Kuwaiti community as well as the local and international teams competing in the event. Tawfeqe added: 'KIB is dedicated to supporting and sponsoring sports events and activities, reinforcing the role of Kuwaiti banks—and the private sector as a whole—as strategic partners in the state's efforts to empower youth, nurture talent, and advance Kuwait's sports landscape. This commitment also strengthens Kuwait's position as a premier destination for hosting major international championships. Continuing this mission, the Bank remains committed to building a better future for the community, launching and sponsoring initiatives that enable individuals to achieve their ambitions, reflecting its main slogan, 'Bank for Life'.' Tawfeqe also expressed his gratitude to everyone who contributed to the success of the third season of KIB | The Stadium, highlighting how this year's events drew a large audience of equestrian enthusiasts and played a key role in promoting the sport across the region. He emphasized that this success reinforces KIB's commitment to supporting such initiatives, which align with the Bank's comprehensive social responsibility strategy and its ongoing efforts to strengthen community engagement and foster meaningful connections with all segments of society. From his side, Chief Operations Officer of Suffix Ahmed Al-Majed said: 'The success of the third season of KIB | The Stadium is a testament to the growing enthusiasm for equestrian sports in Kuwait and the region. At Suffix, we take pride in organizing such prestigious competitions, and we remain committed to elevating the standard of equestrian events in the country. Congratulations to all the winners and participants for their outstanding performances.' The KIB | The Stadium championship attracted approximately 500 riders and 5,000 spectators, fostering an atmosphere of excitement, fierce competition, and true sportsmanship. Kuwaiti rider Yara Al-Hunaidi stole the spotlight by claiming first place in the Grand Prix of the FEI World Cup Jumping Qualifier, a CSI3-W* event. Ali Al-Khorafi secured second place, while Fawaz Al-Subaie finished third. The winners earned valuable points toward their World Cup qualification rankings. It is worth noting that sports play a vital role in KIB's comprehensive social responsibility program, which includes organizing and sponsoring various sports activities and events across Kuwait. The Bank remains dedicated to promoting a sports culture within the community while continuing to support young athletes who have achieved remarkable milestones and proudly represented Kuwait on the international stage. About KIB Kuwait International Bank (KIB) is a bank that operates according to the Islamic Shari'ah, based in the State of Kuwait. Incorporated in 1973, and originally known as Kuwait Real Estate Bank, KIB made the transition to its current Islamic operating model in 2007. In 2018, KIB embarked on a new phase of its journey full of innovation and development. As part of its new strategic direction, the Bank focuses on offering a next-level customer experience under the slogan: 'Bank for Life'. Through a network of branches spread across the State of Kuwait, KIB offers a broad range of banking products and services, as well as innovative digital banking solutions in line with international best standards. As part of its duty towards the community, the Bank also encompasses a leading social responsibility program that aims at positively impacting all members of the community through a wide range of impactful initiatives and activities. Today, KIB has taken concrete steps in implementing its new strategic objectives. The Bank has cemented its role as a key player in the local banking industry and has continued to maintain its strong financial performance; enabling it to be globally recognized for its strong credit rating and financial position.
Al Bawaba
24-02-2025
- Business
- Al Bawaba
The Stadium proves to be an exceptional success beyond expectations
Kuwait International Bank (KIB) announced the successful conclusion of the third season of KIB | The Stadium championship, which exceeded all expectations. The event garnered significant audience engagement and was enjoyed by attendees and participating riders from various countries, including Kuwait, Argentina, Bahrain, Belarus, Belgium, Germany, the United Kingdom, Hungary, India, Italy, Jordan, the Netherlands, Saudi Arabia, and Spain. This achievement played a vital role in promoting sports tourism, stimulating the local economy and domestic trade, and supporting small and medium-sized championship drew a large crowd, creating a thrilling and sportsmanlike atmosphere of intense competition. The closing ceremony was attended by several prominent figures, including H. E. the Minister of Information and Culture and Minister of State for Youth Affairs Abdulrahman Baddah Al-Mutairi; Vice Chairman and CEO of KIB Raed Jawad Bukhamseen; Vice President of the Kuwait Olympic Committee Sheikh Mubarak Faisal Nawaf Al-Ahmad Al-Sabah; Acting Director General of the Public Authority for Sports Bashar Abdullah; President of the Kuwait Equestrian Federation Masoud Hayat; Secretary of the Kuwait Equestrian Federation Ghazi Al-Jariwi; General Manager of the Retail Banking Department at KIB Othman Tawfeqe; Chief Executive Officer of Suffix Ahmed Al Huzami; Manager of the Corporate Communications Unit at KIB Marwa Marafie; in addition to a number of employees from KIB and on the success of the three-week championship, Othman Tawfeqe, General Manager of the Retail Banking Department at KIB, said: 'We are extremely proud of the success of the third edition of KIB | The Stadium. This event not only highlighted Kuwait's remarkable equestrian talent but also reinforced the country's position as a premier destination for hosting and organizing international sporting events. We congratulate all the winners and participants on their outstanding performances.'As the title sponsor of the championship organized by Suffix, KIB partnered with leading experts and specialists in sports event management for KIB | The Stadium. A world-class equestrian arena was built along Marina Beach, providing a unique and innovative experience for the Kuwaiti community as well as the local and international teams competing in the added: 'KIB is dedicated to supporting and sponsoring sports events and activities, reinforcing the role of Kuwaiti banks—and the private sector as a whole—as strategic partners in the state's efforts to empower youth, nurture talent, and advance Kuwait's sports landscape. This commitment also strengthens Kuwait's position as a premier destination for hosting major international championships. Continuing this mission, the Bank remains committed to building a better future for the community, launching and sponsoring initiatives that enable individuals to achieve their ambitions, reflecting its main slogan, 'Bank for Life'.'Tawfeqe also expressed his gratitude to everyone who contributed to the success of the third season of KIB | The Stadium, highlighting how this year's events drew a large audience of equestrian enthusiasts and played a key role in promoting the sport across the region. He emphasized that this success reinforces KIB's commitment to supporting such initiatives, which align with the Bank's comprehensive social responsibility strategy and its ongoing efforts to strengthen community engagement and foster meaningful connections with all segments of his side, Chief Operations Officer of Suffix Ahmed Al-Majed said: 'The success of the third season of KIB | The Stadium is a testament to the growing enthusiasm for equestrian sports in Kuwait and the region. At Suffix, we take pride in organizing such prestigious competitions, and we remain committed to elevating the standard of equestrian events in the country. Congratulations to all the winners and participants for their outstanding performances.'The KIB | The Stadium championship attracted approximately 500 riders and 5,000 spectators, fostering an atmosphere of excitement, fierce competition, and true sportsmanship. Kuwaiti rider Yara Al-Hunaidi stole the spotlight by claiming first place in the Grand Prix of the FEI World Cup Jumping Qualifier, a CSI3-W* event. Ali Al-Khorafi secured second place, while Fawaz Al-Subaie finished third. The winners earned valuable points toward their World Cup qualification rankings. It is worth noting that sports play a vital role in KIB's comprehensive social responsibility program, which includes organizing and sponsoring various sports activities and events across Kuwait. The Bank remains dedicated to promoting a sports culture within the community while continuing to support young athletes who have achieved remarkable milestones and proudly represented Kuwait on the international stage.
