Kuwait – In a key step toward its transformation into a Sharia-compliant institution, Gulf Bank has announced a strategic partnership with the Institute of Banking Studies (IBS). This collaboration, established following preliminary approval from the Central Bank of Kuwait, is designed to deliver specialized training programs for the Bank’s employees.
The agreement was formally signed by Mr. Bader Al-Ali, General Manager of Consumer Banking at Gulf Bank, and Mrs. Rana Al-Nibari, Director General of the Institute of Banking Studies. The ceremony was attended by senior officials from both entities, highlighting the strategic importance of the alliance.
Equipping Employees for the Future
The core objective of this partnership is to implement a comprehensive training curriculum that will provide Gulf Bank’s workforce with a robust foundation in Islamic banking principles. The program will focus on the essential differences between conventional and Sharia-compliant financial services, ensuring a smooth transition for both staff and clients.
Leadership Perspectives on the Partnership
Commenting on the agreement, Mr. Bader Al-Ali stated: “This collaboration with the Institute of Banking Studies is a significant milestone in Gulf Bank’s journey toward Islamic banking. It reflects our dedication to empowering our employees with the essential knowledge and skills to thrive in a fully integrated, Sharia-compliant financial environment.” He reinforced that investing in human capital through partnerships with leading institutions is central to the Bank’s long-term growth and success.
Mrs. Nada Razzouqi, Acting General Manager of Human Resources at Gulf Bank, said: “We are thrilled to partner with the Institute of Banking Studies as we prepare for this new chapter. Gulf Bank takes great pride in being a leader that proactively invests in its people, who are the primary drivers for achieving our strategic objectives. We are committed to equipping our team with the latest expertise to navigate the evolving landscape of the banking industry.”
From the Institute’s side, Mrs. Rana Al-Nibari emphasized the role of such collaborations in strengthening Kuwait’s banking sector. She affirmed, “The Institute is committed to delivering customized training programs specifically tailored to support Gulf Bank’s needs during this critical phase of its transformation. This partnership is a testament to Gulf Bank’s commitment to achieving operational excellence and full regulatory compliance as it becomes a Sharia-compliant bank.”
Background on the Islamic Banking Transition
Gulf Bank received preliminary approval from the Central Bank of Kuwait on August 18, 2025, to commence its transition to a Sharia-compliant bank. This approval is based on a comprehensive feasibility study and a review of the legal and technical requirements submitted by the Bank.