20 Hrs
Source:
الراي
Shahin Al-Ghanem on banking support for development
The article focused on the role of the Kuwaiti banking sector in supporting the Kingdom's economic vision, particularly through leveraging modern technologies such as artificial intelligence and sustainable principles like ESG. It highlighted that banks are concentrating on four main areas: digital transformation, risk management, private sector financing, and capital market development, with an emphasis on enhancing resilience and adaptability to geopolitical and economic challenges. The article also emphasized the importance of the financing and liquidity law, which allows the issuance of bonds and sukuk worth up to $98 billion, viewing it as a strategic step to develop the local market and provide deeper, more efficient investment tools. Additionally, it showcased the evolution of artificial intelligence applications in banking services, with oversight on responsible and secure implementations, and the role of sustainable finance in achieving lasting economic, social, and environmental impact by integrating ESG standards into bank strategies. The sector aims to foster innovation, increase liquidity, and diversify sources to enable the Kuwaiti economy to face future challenges.
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