Kuwait Finance House (KFH) participated in the IIF Islamic Finance G20 conference, held in Riyadh on February 21, as part of the G20 summit meetings in Riyadh G20.
KFH participation in the conference, which was launched under the title “The Economic Growth Perspectives and the Future of Banking in the Middle East and North Africa”, comes within the framework and commitment to contributing and enriching international economic and financial conferences. In addition, it promoted global banking services, as well as viewed the latest economic developments and discussed them with industry leaders and global financial experts.
During his participation in the conference, Group Chief Executive Officer at KFH, Mazin Al-Nahedh discussed the importance of Cyber Risk in the banking industry and enhanced efforts to face challenges and risks in this field, while continuing to upgrade the level of Cyber Risk systems and related technology to global standards.
Al-Nahedh also addressed the importance of social responsibility, community service, achieving sustainability at various levels, and the transition to a low-carbon economy. He also addressed the obligations and responsibilities to the communities the bank serves.
Al-Nahedh discussed the importance of small and medium-sized companies (SMEs) as engines of economic growth, in line with Kuwait’s 2035 vision to transform into a global commercial hub, while reviewing the leading role of KFH in supporting this sector.
Al-Nahedh tackled the importance of digitization in banking services and the opportunity for banks to achieve huge business model transformation, in line with the accelerating global technological developments. He discussed the banks “need to devise strategic plans to ensure the safety of all their customers’ financial data.”
Moreover, Al-Nahedh presented his vision on Fintech, artificial intelligence, how banks can become more agile in the 4th Industrial Revolution, and the need to enhance the role of innovation in the work of banks.
Al-Nahedh dealt with various other topics and themes, such as the need to continue developing human resource strategies in attracting talent and designing special training programs that meet global needs in the banking industry.
KFH participates in events and conferences that have a great impact aimed at developing the banking industry. KFH has long-standing experience, due to its long career, wide geographical spread and its leading position in the Islamic finance industry globally.