The Kuwait International Bank (KIB) signed a Memorandum of Understanding (MoU) with the Gulf University for Science and Technology (GUST) to further develop its innovation program. The collaboration seeks to build a strong basis for incubating and accelerating innovative ideas and offers students valuable opportunities for personal and professional development.
KIB, in its larger social responsibility strategy, aims to support education and empower the youth for a better future. The Bank will undertake the task of managing the innovation program with the help of an internationally recognized expert in the field.
Projects that would encourage the students of GUST to think creatively and propose solutions will be undertaken. Students will also have practical experience through internship and cooperative education programs with KIB, which would be a perfect application of what they learned in school within the banking industry. Top students and graduates of KIB will also be assessed for possible employment to ensure that the Bank fosters the development of local talent and supports them in advancing their careers.
Commenting on the new partnership, Mohamed Atef El-Shareef, General Manager of the Digital Innovation and Data Intelligence Department at KIB, said: “KIB’s agreement with GUST marks another important step in its mission to bridge academia and industry, ensuring that the next generation of professionals is equipped with the skills and knowledge to excel in the rapidly evolving banking sector. The collaboration is also a reflection of KIB’s efforts to be among top institutions leading the way in innovation within the banking industry”.
El-Shareef added: “By forging agreements with academic institutions, we aim to build a robust pipeline of talented professionals who will not only contribute to our business but will also shape the future of banking in Kuwait. We look forward to signing more agreements with other universities in the near future as part of our ongoing efforts to invest in the youth and the future of the financial industry”.
On his part, Professor Bassam Alameddine, President of Gulf University for Science and Technology (GUST), stated: "We are delighted to cooperate with KIB in this initiative, as it will provide our students with a pioneering opportunity to apply their theoretical knowledge in a hands-on industry experience. Through working with experts in the banking industry, our students will be able to develop innovative solutions for the banking sector and acquire the necessary skills to excel in their careers. This partnership reflects our strong commitment of preparing our graduates to become innovative leaders in the Kuwaiti job market".
Prof. Bassam Alameddine added: "GUST has consistently fostered innovation within its advanced academic programs, ensuring they align with the evolving demands of the Kuwaiti job market. Moreover, GUST actively supports initiatives launched by Kuwaiti youth in the field of startups and their career pursuits within both the private and public sectors. This unwavering commitment is driven by a shared vision of contributing to the advancement and prosperity of Kuwait and its young generation".
