KUWAIT: The National Bank of Kuwait (NBK) team successfully concluded its participation in the Innovation Challenge Program, organized by Kuwait Foundation for the Advancement of Sciences (KFAS) in collaboration with IE Business School, Madrid. Spanning three months, the program commenced with an introduction to the fundamentals of creativity and innovation, followed by an in-depth focus on a real-world innovation project. The initiative also included a field visit to the IE Business School campus in Madrid, Spain, enriching the participants’ experience.

As part of the program, the NBK team presented their project, which focused on an innovative banking service. The project was reviewed and discussed with the bank’s senior management, including Salah Al-Fulaij, CEO of NBK – Kuwait, Mohammed Al-Othman, CEO of Consumer and Digital Banking Group; Mohammad Al Kharafi COO - Head of Group Operations and Information Technology; Emad Al-Ablani General Manager, Head of Group Human Resources Faisal Al-Fulaij Head of Business Banking; and other esteemed executives from the bank.

The program covered various key aspects, including the successful implementation of innovative initiatives, the innovative planning process, impact measurement, and the design of valuable propositions. Additionally, several workshops on innovation leadership were conducted. The program featured intense competition among participating teams, as participants spent three months engaged in training, education, and exploring strategies to drive meaningful change within their organizations by presenting innovative ideas.

Launched by Kuwait Foundation for the Advancement of Sciences (KFAS) in 2015, the program aims to cultivate innovative human capabilities within the private sector. It seeks to foster a culture of creativity and knowledge-driven growth, aligning with efforts to transition Kuwait’s economy into a knowledge-based model. The Kuwait Foundation for the Advancement of Sciences (KFAS) Innovation Challenge Program stands out as one of the most prestigious executive education initiatives. Through collaboration with IE Business School in Madrid, a select group of companies engages in developing new initiatives and projects aimed at fostering a culture of innovation within their organizations.

On this occasion, Maryam Al-Nasrallah, Talent Management Manager, Group Human Resources at National Bank of Kuwait, said: “We strongly believe in the importance of fostering a culture of innovation and creativity. As such, we remain committed to launching and supporting pioneering initiatives across various fields and sectors while collaborating with state institutions and strategic partners to create a positive social impact and cultivate an inspiring environment for the next generation.”

Al-Nasrallah further added: “Our involvement in this pioneering program underscores our unwavering commitment to fostering innovation and knowledge. We are dedicated to encouraging young researchers to deliver innovative solutions that benefit both society and the economy. The bank’s strategy is firmly rooted in innovation and continuous development, a commitment that has been demonstrated through our leadership in the banking sector, positioning us at the forefront both locally and regionally.”

Al-Nasrallah emphasized that NBK will persist in its efforts to develop society and foster an environment that encourages creativity and innovation. This will be achieved through ongoing participation in various programs and initiatives designed to cultivate highly skilled national talent. She highlighted that Kuwaiti youth possess untapped potential and capabilities, and with the right guidance, they can contribute significantly to the sustainable development journey.

Furthermore, she praised KFAS for its pivotal role in enhancing and promoting investment in technology and innovation. Al-Nasrallah emphasized the Foundation’s commitment to learning from global experiences and utilizing leading professional and academic expertise from around the world. NBK places significant emphasis on the development of its human resources, recognizing them as the cornerstone of the bank’s excellence and leadership. The bank offers top-tier specialized training programs that adhere to the highest international standards, ensuring that its professional talent is equipped to take on future leadership roles.