Small businesses are building blocks of economic development: KIB
KUWAIT: KIB recently sponsored the 7th Tmkeen Youth Empowerment Symposium (YES), which was held under the patronage of HH the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah. The event took place at the Four Seasons Hotel in Kuwait, and saw the participation of a group of highly respected experts and industry specialists from large institutions across the business world, both locally and internationally.
On this occasion, KIB stated that it believes small businesses are the building blocks of economic development and help boost the local labor market. Accordingly, the Bank is adamant on providing easy and simplified banking and financing solutions that meet the needs of these businesses through its Small and Medium Enterprises (SME) Division.
KIB always seeks to diversify its financing portfolio and expand its SME financing services by offering a range of credit facilities, after evaluation and approval. The Bank aims at meeting various financing needs to provide businesses with services, such as: letters of guarantee, Murabaha, documentary credits, contract financing, car financing, as well as construction financing.
During the conference, KIB was recognized for its active role in empowering youth by sponsoring their projects and encouraging them to come up with fresh, new ideas of their own. Manager of the Corporate Communications Unit at the Bank, Nawaf Najia, received the award on behalf of KIB. Najia added that KIB always seeks to motivate and empower youth, supporting them from the start during their academic career. The Bank continues to believe in the important role this segment plays in building a bright future for the nation.
Najia also lauded the impressive turnout at the KIB booth during the conference. He added that the Bank commits itself to supporting youth by providing them with a number of products and services specifically designed to cater to their lifestyles through its ‘Youth Account’ which combines both the benefits of saving and investing.