The Banking Executive Magazine - October 2023

Kuwait International Bank & Visa Partnership On her part, Artii Thannki – Visa’s Head of Fintech and Partnerships for Kuwait and Qatar, said: “We are de- lighted to announce this exciting 7- year partnership with Kuwait International Bank, which cements our shared commitment to driving the growth of digital commerce in Kuwait. This partnership will signifi- cantly enhance our ability to inno- vate and deliver secure, seamless payment experiences for consumers and businesses alike, and promote economic growth in line with the Kuwait government’s cashless agenda.” As a testament to its dedication to ex- cellence, KIB is also proud to an- nounce the successful completion of the Visa Ready Certification, a his- toric achievement as the first bank in Kuwait to attain this milestone. This certification opens the door to a realm of possibilities, enabling KIB to offer robust banking propositions re- lated to Cards, Payments, and Digital Banking in B2B format for various entities across multiple industries, in line with the regulations of the Cen- tral Bank of Kuwait. KIB’s bold vision includes Banking as a Service (BaaS), where it offers a comprehensive stack solution, en- compassing BIN sponsorship, Pro- gram Management services, and Payment Infrastructure Services to its B2B partners. With this certification, KIB is poised to be the preferred part- ner for businesses seeking to offer card services to their customers in Kuwait. Concluding his statement, Mo- hammed El-Shareef said: “The Visa Ready Certification is a testament to our unwavering commitment to ex- cellence. It underscores our readi- ness to enable and empower businesses with the latest advance- ments in banking services.” KIB’s partnership with Visa heralds a new era in Kuwait’s banking industry, offering exciting opportunities for growth, innovation, and collabora- tion. As the Bank embarks on this transformative journey, KIB invites its customers and potential partners to join it in shaping the future of bank- ing in Kuwait. ISSUE 178 OCTOBER 2023 the BANKING EXECUTIVE 33