Burgan Bank celebrates graduation of its 15 employees from KIBS certification programs

In line with Bank's dedicated human capital development strategy and best ESG practices
KUWAIT: As part of its ongoing commitment to fostering a culture of continuous learning and advancing Kuwait's professional caliber, Burgan Bank recently celebrated 15 of its most aspiring employees for completing the Kuwait Institute of Banking Studies' (KIBS) certification programs.
The graduation ceremony, held at the Regency Hotel, was attended by Burgan Bank and KIBS management, confirming their commitment to their longstanding partnership, which continues to prepare the best national talents for competing and leading in the Kuwaiti banking sector – in line with the New Kuwait Vision 2035 and the highest standards of environmental, social, and governance (ESG) in the global banking industry.
'We are proud to celebrate our graduates' achievements, whose dedication and hard work exemplify Burgan Bank's commitment to professional excellence,' commented Bashar Al-Qattan, Executive Manager – Learning and Talent Development at Burgan Bank. 'As a primary pillar of our institutional success and a driving force behind our steady progress, our employees' continuous development remains central to our sustainable growth and development strategy.
Through our valuable partnerships with leading educational institutions, such as KIBS, we aim to reinforce our employees' individual capabilities as well as fortify Burgan's business future, guaranteeing our institutional readiness to meet the industry's evolving demands with knowledge, skill and leadership.'
The 15 graduates completed different specialized certification programs, depending on their fields of experience and chosen professional tracks, including Credit Management, Advanced Credit Management, Risk Management, Assistant Bank Branch Management and Bank Wealth Management.
It is worth noting that, as a certified Great Place to Work and a recipient of the esteemed Brandon Hall Group Human Capital Management (HCM) Gold Award of Excellence, Burgan Bank continues to deliver one of the most robust learning and development programs, which caters to employees' varied interests, needs, and learning preferences, offering them multiple opportunities throughout the year.
Some of the Bank's most notable programs include Entelaqah, designed for new hires and fresh graduates; Ro'ya, which fast-tracks the growth of Burgan's future leaders; and Burgan Cares, which paves the path for the Bank's employees to resume their academic endeavors in pursuit of earning their bachelor's or MBA degrees.

Try Our AI Features

Explore what Daily8 AI can do for you:

Learn with AIFact CheckingText to SpeechAI Summary

Related Articles

Kuwait Times

3 hours ago

• Kuwait Times

Kuwait introduces new rules for licensing and dissolving charities

KUWAIT: The Ministry of Social Affairs has introduced new rules to better regulate charitable organizations, known locally as mabarat. The regulation, published Sunday in the official gazette Kuwait Al-Youm, was enacted under Ministerial Decision No. 122 of 2025 by Minister of Social Affairs and Minister for Family and Childhood Affairs Dr Amthal Al-Huwailah. It aims to strengthen oversight of charitable foundations in Kuwait to ensure transparency, accountability, and lawful operation. The regulations set out to establish clear rules and procedures for the creation, management, and supervision of charitable foundations, including registration requirements, governance standards, fundraising controls, financial reporting, and enforcement measures to prevent misuse and ensure transparency. The law also outlines conditions under which a charitable foundation can be dissolved. These changes come at a time when all charitable fundraising in Kuwait has been put on hold since mid-April. The suspension followed the discovery of unauthorized donation campaigns running through unofficial websites and accounts. The ministry explained that this pause is necessary to protect donors' money and ensure full transparency. Fundraising will remain suspended until the new regulations are fully in place. Under the new rules, charitable foundations must follow strict legal steps to register and operate legally. This includes mandatory registration with the Ministry of Social Affairs, clear governance structures, financial reporting, and strict controls over fundraising and public activities. One key requirement is that no person or group may carry out charitable work or make agreements on behalf of a mabara without official registration and approval from the ministry. Foundations must also get permission before moving locations, opening new branches, or asking the public for donations. The rules clearly state: 'It is prohibited for any applicant to carry out any charitable or social activity except after the foundation is officially registered.' Anyone who breaks this rule risks suspension. 10 Kuwaiti founders To register a mabara, there must be at least ten Kuwaiti founders, each at least 21 years old, with a clean legal record regarding honesty and trust. Board members must be at least 30 years old and have at least a diploma-level education. Founders must also deposit KD 10,000 into a bank account under the foundation's name. Additional approvals are required from security agencies, Kuwait Municipality, Fire Force, and the Ministry of Justice. The Ministry of Social Affairs now has the authority to supervise registered foundations closely. Ministry officials can inspect any mabara at any time without prior notice and review their financial and operational records. If violations occur, foundations may face fines, suspension of their accounts, or even complete closure. If a foundation does not fix problems within a week after being notified, the ministry can freeze its bank accounts. Serious repeated violations, hiding financial information, or failing to submit reports for two years could lead to the foundation losing its legal status or being dissolved by the government. Foundations can be shut down if they fail to keep the minimum number of members, cannot meet financial responsibilities, stray from their mission, or remain inactive. In such cases, the ministry appoints a committee to manage the foundation's assets, which will eventually return to the ministry to support other approved causes. This bylaw is part of a larger effort to improve transparency and align Kuwait's charitable sector with international standards against money laundering. A report by the Financial Action Task Force (FATF) last November praised Kuwait's legal improvements but stressed the need for stronger enforcement. Kuwaiti authorities have increased cooperation across ministries to better track donations, especially those crossing borders, and to shut down inactive organizations. Additionally, the ministry is working on a new digital platform linked to the Mobile ID system earlier this year to streamline charity applications and monitor aid distribution. So far, more than 30 foundations have been dissolved for inactivity or failing to meet requirements.

Arab Times

5 hours ago

• Arab Times

New regulations for charities

KUWAIT CITY, June 22: The official gazette 'Kuwait Al- Youm' published Decision No. 122/2025 issued by the Minister of Social Affairs, Family and Childhood Affairs, Dr. Amthal Al-Huwailah, concerning the issuance of regulations for charitable foundations, reports Al-Seyassah daily. The regulations include the following provisions: Chapter One - Definitions and General Provisions Article 1: Minister: Minister of Social Affairs Ministry: Ministry of Social Affairs Administration: Department of Charitable Societies and Foundations Law: Law No. 24/1962 regarding clubs and public benefit associations, and its amendments Applicant: Any natural or legal person who submits an application to establish a charitable foundation Foundation: A charitable foundation registered in accordance with the provisions of Law No. 24/1962 and its amendments concerning clubs and public benefit associations Article 2: The founders and members of the Board of Directors of the foundation shall adhere to the provisions of Law No. 24/1962 and its amendments concerning clubs and public benefit associations, as well as its implementing decisions. They must also comply with the Labor Law No. 6/2010 regarding work in the private sector. The Model Bylaws for Charitable Endowments, issued under Ministerial Resolution No. 48/1999, shall serve as a guiding framework. Article 3: Charitable foundations subject to these regulations must comply with all regulatory directives and safety and security procedures issued by the ministry, in coordination with the relevant authorities. Article 4: The applicant is strictly prohibited from engaging in any charitable or social activity unless the foundation is officially declared under the relevant regulations and procedures. Also, the applicant may not enter into any contracts or conduct any transactions on behalf of the foundation before its formal declaration by the ministry. The foundation may not change its location, alter its specifications, or establish a branch without obtaining prior written approval from the ministry. The foundation is obligated not to solicit or invite donations from the public in any form without first securing the ministry's approval. Chapter Two - Provisions and Procedures for Charity Publicity Article 5: The following conditions must be met for the official publicity and registration of a charitable foundation: The number of founders must not be fewer than ten. All founders must be at least 21 years old at the time of submitting the publicity application. Each founder must be a Kuwaiti citizen of good conduct, with no prior conviction of a felony or a misdemeanor involving moral turpitude or dishonesty. Candidates for membership on the charity's Board of Directors must be at least 30 years old at the time of their selection. Security clearance must be obtained, with no security objections to the foundation's publicity. All necessary approvals must be secured from the relevant official authorities for licensing the charity's operation, including from Kuwait Municipality, Kuwait Fire Force, and the Real Estate Registration Department at the Ministry of Justice. The founders or their authorized representatives must submit a bank certificate confirming a deposit of KD 10,000 in the name of the charity at a local bank. Article 6: The procedures for publicizing a charitable foundation shall include the following steps: 1. An application for the publicity of the charitable foundation shall be submitted by the founders or their authorized representatives. The application must include a formal statement expressing the founders' intent to establish and publicize the foundation in accordance with the provisions of the law. 2. The following documents must be attached to the application: Two copies of the foundation's bylaws, prepared in accordance with the model bylaws for charitable foundations. Minutes of the founders' meeting, including the election of the foundation's Board of Directors and an official letter authorizing one of the founders to represent them in all publicity-related procedures. Copies of valid civil ID cards for all founders. 3. Upon completion of the application, the ministry shall coordinate with the Ministry of Interior to obtain security clearance for the founders. 4. The application shall then be submitted to the ministry's Publicity Committee for initial review and approval. 5. The ministry shall contact the relevant government entities - Kuwait Municipality, Kuwait Fire Force, and the Real Estate Registration Department at the Ministry of Justice - to secure the necessary operational licenses and to authenticate the foundation's bylaws. 6. The concerned department in the ministry shall prepare and submit a memorandum to the minister, detailing the charity's registration request and the procedures undertaken, accompanied by a draft ministerial decision for its registration. 7. The registration decision and a summary of the foundation's bylaws shall be published in the official gazette 'Kuwait Al-Youm'. Article 7: Following publication in the official gazette, the charity shall acquire legal personality and shall be authorized to carry out activities in pursuit of its stated objectives. Article 8: The ministry reserves the right to reject the registration of a charity within one month from the date of submission of a complete registration application, provided that the reasons for rejection are clearly stated. The ministry also retains the right to amend the foundation's bylaws. The applicant has the right to appeal the decision of rejection or the proposed amendments to the minister within one month from the date of receiving the notification. Article 9: After the charity is officially publicized, it may commence its operations at its approved headquarters, provided it has obtained all necessary approvals from the relevant authorities. Article 10: The charity must display an identification plate at its approved headquarters, clearly showing the organization's name and the number of the ministerial decision by which it was publicized. Chapter Three - Management of Charitable Endowments Article 11: The endowment shall be managed by a Board of Directors composed of five to nine members, each of whom must be at least 30 years old and hold a university degree or a diploma of no less than two years following high school. Article 12: The Board of Directors shall manage the endowment under the powers and responsibilities outlined in the Model Bylaws for Charitable Endowments and the endowment's own bylaws. Article 13: The Board of Directors is required to submit an annual financial report, certified by the external auditor appointed by the endowment, along with an administrative report detailing the endowment's activities and achievements, to the ministry within the deadlines specified in the bylaws. Article 14: The Board of Directors shall establish regulations governing the endowment's operations, with particular emphasis on financial and administrative regulations. Article 15: The endowment shall open nominations for membership in the Board of Directors for a period of at least 15 days, beginning no less than one month before the end of the current board's term. This announcement shall be posted on the bulletin board at the endowment's headquarters, and registered letters with acknowledgment of receipt shall be sent to members. Article 16: The members of the endowment shall elect the Board of Directors by secret ballot, conducted under the supervision of the current Board of Directors. Article 17: The ministry shall be provided with the list of names of the newly elected Board members, under the above procedures. Chapter Four - Supervision and Oversight Article 18: The ministry shall supervise associations registered under the provisions of the law through employees of the competent administration. These employees have the right to inspect the association at any time without prior notice. They may enter the association's premises and review all records, data, and information related to the association's activities. Article 19: If it is proven that the association has violated any provisions of the law or the related decisions, employees of the competent administration shall have the authority to issue a citation against the association using the designated form. Chapter Five - Penalties Article 20: In addition to the penalties stipulated by the law or any other applicable legislation, if the association violates the provisions of the law or the related decisions, the following measures shall apply: A formal notification of the violation shall be served to the association. If the violation is not rectified within one week of notification, the charity's bank accounts will be suspended and will remain frozen until the violation is corrected. Article 21: The ministry has the right to suspend the charity's registration in the following cases: ■ The charity commits serious violations, persists in violating after the ministry's notification, or repeatedly breaches the law. ■ The charity fails to submit its financial statements and administrative reports for two consecutive years. ■ The charity conceals any financial information or data requested by the ministry, manipulates data, or deliberately provides false information intended to mislead the ministry and obstruct its oversight duties. Article 22: The Council of Ministers may, upon the recommendation of the Minister of Social Affairs, dissolve the charity in any of the following cases: If its membership falls below the minimum number stipulated in Article 5 of this law. If the charity becomes unable to meet its financial obligations. If it violates the provisions of this law or the charity's bylaws, or engages in activities beyond its stated objectives. If it fails to carry out any effective activity to achieve its objectives If dissolution is deemed necessary in the interest of public security or public welfare. Article 23: The Minister of Social Affairs may, by decision, dissolve the charity's Board of Directors and appoint an interim board or director for a specified renewable period. The appointed director shall assume the powers of the Board of Directors in the following cases: 1. Violation of the provisions of this law or the charity's bylaws. 2. If the number of board members is insufficient to hold a valid meeting. 3. If it is necessary to protect the interests of the members or the social objectives of the charity. Article 24: In the event of the association's dissolution, the minister shall issue a decision to form a committee to liquidate its assets, and specify the method of liquidation, the duration of the liquidation process, and the liquidators' fees. The term of the committee may be renewed as necessary until the liquidation is complete. Article 25: Upon completion of liquidation, the association's remaining assets shall revert to the ministry, which will determine the entity to which these assets shall be allocated.

Arab Times

6 hours ago

• Arab Times

Kuwait warned to brace for $100 oil if conflict escalates

KUWAIT CITY, June 22: While the ongoing Israeli-Iranian war has led to a rise in the price of crude oil, several parties expect oil prices to reach $100 if the war escalates and the Strait of Hormuz is closed, but this possibility was ruled out by the experts that the newspaper interviewed recently. Economic expert Salah Al- Jimaz said it is in Iran's interest to continue the passage of oil tankers through the Strait of Hormuz; considering its closure will cause a huge financial loss for Iran, because its tankers pass through the Strait, especially after its oil production in the first quarter of this year reached 3.5 million barrels per day. He pointed out that it is difficult for Iran to sacrifice these revenues, particularly since the current war has cost and will continue to cost it a great deal from the State treasury, and it may suffer an economic decline for several years as a result of the war. He thinks the Iranian-Israeli war could raise oil prices to more than $100 per barrel if Israel targets strategic oil sites or Iranian refineries, or if the Strait of Hormuz is closed. 'However, realistically, Israel and Iran do not want this war to take on economic dimensions that could impact the oil commodity and its prices, because the victims will not only be Iran or Israel, but all other countries throughout the world. If Israel targets Iranian oil sites, this will be a provocation of the entire world,' he explained. He advised the Kuwaiti oil sector to expand oil storage projects near countries that primarily import Kuwaiti oil, especially since the sector has numerous previous experiences in this regard. He stated that in April, the country exported the first shipment of Kuwaiti oil to South Korea under a previous agreement between Kuwait Petroleum Corporation (KPC) and Korea National Oil Company, allowing the storage of four million barrels of Kuwaiti oil. Moreover, economic expert and former advisor to Chevron Dr. Ali Al- Hababi revealed that oil prices have been gradually rising since the beginning of the Iran-Israel war. He stressed the need to take all precautions in light of the war. He warned that attacking the Iranian Bushehr reactor located in Bandar Abbas, which is overlooking the Gulf, will lead to extremely dangerous water pollution, especially since Kuwait and the rest of the Gulf Cooperation Council (GCC) countries depend on its water. He underscored the importance of expanding Kuwaiti storage facilities, in cooperation with the private sector, to ensure adequate water and food supplies for use in such hot conditions. He called on the oil sector to take all the necessary measures if the Strait of Hormuz is closed, as such closure will halt Kuwaiti oil supplies to Asian countries. He added the Red Sea is not safe as well, indicating the regional developments will inevitably lead to a huge increase in oil prices as a result of the dependence of most countries -- including Europe -- on Gulf oil. He cited as evidence the role of Saudi Arabia in the 1973 War when King Faisal made his historic decision to ban the export of oil in the heat of that war, which led to the cessation of the use of cars in Europe and made the residents of European countries return to riding bicycles.