KUWAIT: Stemming from its commitment to banking excellence, Burgan Bank hosted Risk Culture Week, an event that aims to raise awareness of the latest global market standards for risk management across different departments and employment grades. This is in line with Burgan’s strategy for human capital development and its commitment to meeting industry best practices, as the Bank seeks to equip all staff with the latest market knowledge that enables them to carry out their responsibilities with uncompromised quality.

Commenting on the weeklong event, Fadel Abdullah, Acting Chief Executive Officer – Kuwait at Burgan Bank, said: “The past few years have reminded us that success in the banking and financial industry isn’t defined by how an institution performs when everything is going right, but how it reacts when markets are disrupted. To remain a trusted financial partner to our customers, it is crucial that risk management becomes second nature to all of our staff, ensuring that they make sound decisions that have the best interest of our customers at heart no matter how steady or turbulent the market is.”

Abdullah went on to note that risk culture goes beyond learning the latest market trends and adopting state-of-the-art analytic tools and software. “To succeed at instilling the risk and control culture at Burgan Bank, it is essential to also reinforce our institutional values that underscore ownership, responsibility, and accountability.”

Throughout Risk Culture Week, Burgan Bank organized several workshops and seminars that tackled different aspects of risk management in the banking industry, including case studies and emerging risk trends on topics such as ESG risks, cyber security, and innovation risks. Across the Bank, 343 employees participated in the workshops and seminars, which were delivered by distinguished internal and external experts.

In addition, the week offered numerous activities and events that were designed to engage the employees in a proactive and inclusive atmosphere. It serves to note that Burgan Bank introduced the Risk Culture Program in 2021 and has since spared no effort to ensure that all employees comply with its recommendations and guidelines, enabling short-term and long-term success for the Bank and utmost satisfaction for its customers.