In Video: Al-Otaibi: Technology Is No Longer a Luxury... But the First Line of Defense for Business Continuity

Al-Qureih newspaper announced the conclusion of the fifth edition of the MoneyTech 2026 summit, organized in strategic partnership with Ooredoo Kuwait. The event was attended by a distinguished group of wealth managers, investors, technology sector leaders, venture capital funds, and entrepreneurs.

The summit’s program featured nine sessions, including a keynote address, panel discussions, and debate sessions, with 17 speakers from Kuwait, Saudi Arabia, and the United Arab Emirates, alongside representatives from global firms BlackRock and Carlyle.

The summit opened with an inaugural address by Al-Qureih newspaper editor-in-chief, Nasser Al-Otaibi, followed by a dialogue session with Abdulaziz Yaqoub Al-Babtain, CEO of Ooredoo Kuwait. Hitham Al-Turkiet, Executive Vice President for Transformation, Technology, and Operations at Kuwait Finance House, then delivered the keynote address at the summit.

In his speech, Nasser Al-Otaibi stated that the most significant revelation of recent months is that technology is no longer a luxury or a supporting tool, but has become the first line of defense for business continuity. He noted that the summit takes place amid geopolitical developments and regional events that have reshaped the global economic map and the international trade landscape.

Al-Otaibi added that when supply chains were disrupted and transportation movements stalled, digital infrastructure served as the bridge that maintained institutional connectivity with clients and kept the economic engine running. He emphasized that this period has taught us that uncertainty is no longer a temporary exception to be waited out, but a reality we must learn to navigate, recalibrating our risk assessments and opportunity identification.

He continued, “This is why this year’s MoneyTech conference serves as a platform for candid dialogue on these issues, free from exaggeration or minimization, and to hear from those who have experienced and managed these challenges firsthand. The experience of those who have weathered the storm is more authentic than any theoretical speculation. At Al-Qureih, we believe that the media’s responsibility during crises extends beyond reporting events to shaping awareness and fostering serious discussions about the future. This is what we strive for through this conference, which has become an annual gathering for leaders in finance, business, and technology.”

Al-Otaibi further noted, “In recent months, Gulf Arab countries have been subjected to reprehensible Iranian attacks targeting their economic sectors and oil, industrial, and civilian infrastructure. The airports and cities of our brotherly Kingdom of Saudi Arabia remain under attack by Houthi militias, marking an unprecedented regional escalation and condemnable terrorist attacks that disregard international laws and treaties.”

He elaborated, “While this turbulent atmosphere has cast shadows over the finance and business sector and severely impacted small and medium-sized enterprises, there are successes worth highlighting amidst these exceptional circumstances. These include the Gulf countries’ ability to overcome obstacles to the closure of the Strait of Hormuz, the maritime lifeline for Gulf Arab nations and global oil trade, as well as their resilience in addressing disruptions in air cargo movements and rising transportation costs, ensuring business continuity and maintaining growth and profit rates.”

For his part, Abdulaziz Yaqoub Al-Babtain, CEO of Ooredoo Kuwait, stated that sustained growth requires a clear strategy and continuous adaptability to changes. He highlighted that Ooredoo Kuwait has been able to enhance its business resilience and maintain performance during regional challenges through service diversification, continuous planning, and investment in developing human capital.

Al-Babtain noted that crises have generated significant expertise, which has been leveraged to improve preparedness

He emphasized the company’s focus on providing flexible and user-friendly products, noting that its priority is to ensure that operations continue with the same efficiency and without any disruptions. Although recent outages and faults occurred in internet cables, customers did not experience them, as the company managed to restore full efficiency within 24 hours.

He pointed out that enhancing the resilience of communication networks is a top priority to guarantee service continuity, adding that the company is working to diversify international connectivity routes, both land-based and maritime, in collaboration with government entities and its sector partners. This effort supports uninterrupted connectivity for individuals and institutions, particularly during exceptional circumstances.

He further stated that Ooredoo, as a leading company, makes a significant and tangible contribution to strengthening and developing business continuity under all conditions. The company builds its relationships with businesses on strategic and service-oriented foundations, rather than merely transactional billing relationships.

Al-Babtain noted that, in line with Ooredoo’s philosophy, its relationship with businesses is deeper, especially with the expanding use of artificial intelligence. This has enabled the company to better assist various sectors, positively impact businesses and operations, and deliver services with the same level of efficiency wherever the customer desires, while maintaining the highest standards of security.

Al-Babtain pointed out that institutional needs change during crises, requiring flexible solutions that ensure business continuity. He noted that Ooredoo Kuwait worked with its clients to provide diverse options in communications, hosting, and security, tailored to their operational needs and enhancing their ability to continue operations without interruption.

The first session was a panel discussion titled “Mergers and Acquisitions: A Step for Survival or an Opportunity for Buyers?” Sharif Al-Rafaei, CEO of ABK Wealth Management, stated that investment, financial, and wealth management services are undergoing rapid developments and increasing competition amid significant and qualitative shifts in the nature of services provided. He emphasized that the starting point must be the client themselves, by understanding their needs and defining their requirements from the beginning of the investment journey.

He added that wealth management services are no longer limited to portfolio management but have become an integrated system requiring business owners to build a comprehensive relationship with their wealth manager, based on assessing needs and evaluating requirements to grow wealth according to clear principles and long-term plans.

For his part, Abdullah bin Dasmal, Vice President of Investments at ADNOC Drilling, said that modern technology has entered various sectors, including drilling, which no longer relies on traditional methods as it did in the past. He noted that drilling and exploration operations have become large-scale and increasingly depend on modern technology and techniques. He added that this trend has contributed to the growth of acquisitions of small companies that possess deep expertise in the technology sector, pointing out that technological leaps that distinguish major companies from one another justify the size of deals in this field.

On his part, Hassan Al-Jishi, CEO of Milz Capital, said that deals in the M&A market are primarily based on seizing opportunities. He noted that the increase in the number of mergers and acquisitions is linked to the objective of the deal and its ability to create added value, rather than merely closing the deal itself. He clarified that the most important aspect is the impact of the deal on value growth, noting that the motivations for entering into M&A activities vary by sector. In some financial sectors, such as banking and insurance, they are linked to regulatory requirements, while in other sectors, they are based on population growth or increased operational efficiency.

For his part, Ali Al-Ibrahim, Founder and CEO of COFE Tech, announced the recent completion of a deal worth $178 million, led by Aramco Ventures, BlackRock, and Al-Esraa Kuwait. He emphasized that successful deals are built on establishing effective partnerships, the ability to read markets and needs, alongside absorbing future developments and leveraging them to develop business and enhance growth opportunities.

Al-Ibrahim explained that COFE Tech is a smart factory that combines procurement, operations, and e-commerce. He noted that the largest deal in the technology sector recently valued at $5.7 billion is a very large transaction, indicating a focus on technology companies that rely on artificial intelligence at the core of their operations. He added that the main investor plays a pivotal role in the success of a deal, as their role extends beyond providing funding to offering expertise and support to the acquired company. He pointed out that many successful experiences have been achieved through collaboration and effective investment partnerships.

The second session, moderated by Noura Al-Abdulkarim, Head of Markets at the Kuwait Stock Exchange, was titled

“Investment Amid Uncertainty: Resilience, Risks, and Opportunities.” During the session, Ali Al-Qadhi, CEO of BlackRock Kuwait and Head of Client Relations for Kuwait and Qatar, affirmed that Kuwaiti and Gulf markets have demonstrated resilience and the ability to absorb shocks, despite geopolitical challenges and developments in the region. He noted that economic reforms have contributed to strengthening investor confidence and supporting market stability. Al-Qadhi said the discussions covered investment risks and opportunities amid regional and global conditions, risk assessment and pricing mechanisms, as well as private markets, equities, and bonds, and the role of infrastructure in attracting capital to the Gulf region. He added that Kuwaiti and Gulf markets have shown adaptability to current developments, noting that declines in some markets were less than expected despite surrounding risks. He pointed out that yield spreads on bonds issued recently have narrowed compared to levels during the war, approaching pre-war levels.

For his part, Ahmed Al-Bushra, CEO at Carlyle and Head of the Kuwait office, emphasized that current geopolitical tensions highlight the need for broad infrastructure investments, which open the door to new investment opportunities, particularly in sectors that have seen reduced interest in recent years. Al-Bushra highlighted the role of foreign companies in supporting Kuwait’s investment environment by establishing specialized offices in the country and leveraging global expertise to develop the local business climate.

The third session

The third discussion session was titled “Has the Time Come for the Return of Wealth?” During it, Raha Al-Rashid, Vice President of Wealth Management and Business Development at The Center (Al-Markaz), stated that crises create opportunities for investors, noting that the recent decline in stock prices presented an opportunity for retail investors. She pointed out that under challenging circumstances and crises, financial opportunities emerge for investors, as seen in recent weeks when the Kuwaiti stock market was depressed, creating opportunities for both retail and institutional investors to buy shares at low prices. Given current conditions, investors can allocate their funds in the region through investments that prove viable. Al-Rashid said: “At The Center, we design client portfolios tailored to their risk tolerance, noting that the new generation of investors prefers investing in high-risk assets.”

She noted that local impact is directly linked to creating opportunities for others, while local returns are represented by profits generated from the domestic market. They work to help family offices establish and develop companies, assisting them in listing them on the stock exchange, and emphasized that local impact is crucial as it contributes to creating employment and investment opportunities.

For his part, Fawaz Al-Mutawa, Assistant to the Vice President for Private Equity Investments at “Kuwait Investment Company (KIC) Invest,” revealed that there are numerous investment opportunities in Gulf markets across various sectors. He pointed out that Gulf markets are now attracting global capital, with the entry of major companies into these markets serving as clear evidence of this trend.

On his part, Ziad Al-Farhan, Director of Discretionary Investment Portfolios, Asset Management, at “Kuwait Finance House (KFH) Invest,” said there is a trend toward investing in defense sectors and value investment indices in general, amid rising interest rates and uncertainty.

Regarding the relocation of investments and the shift toward local or external markets, he clarified that this is not governed by fixed or predetermined ratios, but is entirely dependent on the nature of the investor themselves, their risk tolerance, and the size of their exposures. He noted that financial markets always offer investment opportunities amid calculated risks at all times, allowing investors to diversify their assets across regional, global, and local markets based on available and suitable opportunities.

Al-Bahr: Gulf and Kuwaiti consumers have very high standards

Noura Al-Bahr, Managing Director of “Talabat Kuwait,” confirmed that managing a digital platform like “Talabat” primarily relies on achieving a balance among three key elements: the customer, who seeks reliability and value; the supplier, who aims to increase sales and grow their business; and the operations sector, including delivery and logistics, which must possess sufficient flexibility to handle order volumes while maintaining customer satisfaction and experience.

Al-Bahr explained that customer experience is the primary driver of the platform’s success, as the journey does not end with completing the payment within the app, but extends until the successful delivery of the order and customer satisfaction, which encourages them to repeat the experience.

Regarding the company’s collaboration with the government sector and companies, as well as supporting entrepreneurs and traders, Al-Bahr revealed that “Talabat” launched, in partnership with the National Fund for Small and Medium Enterprises Development, an initiative to support more than a thousand local restaurants on its platform in areas of pricing, operations, and employee development. Some of these businesses achieved growth exceeding 100% over four months.

She disclosed “Talabat’s” future vision to expand as a comprehensive platform offering various products and services, including food, supplies, and even electronic devices as an authorized agent for electronic device products, emphasizing that facilitating customers’ lives and providing a distinguished experience remain the foundation for all upcoming expansion steps.

Al-Attar: Oil supply chains did not stop during the crisis, especially local ones

Bader Al-Attar, Managing Director of Planning and Finance at Kuwait Petroleum Corporation, stated that the geopolitical events the region has experienced have not deterred us from continuing our operations in the oil sector. He noted that the oil supply chain has not been interrupted, particularly domestic supplies, which were not affected at all during the crisis. He added: “We were keen at the Corporation to avoid losing our global clients, and we worked to offer competitive prices to achieve this.” He pointed out that current oil production stands at approximately 2.1 million barrels per day. He mentioned that the Corporation is exploring all means to enhance the development of its operations, such as the Shahin project, as it attracts foreign investment, thereby boosting Kuwait’s appetite for investment. He emphasized that efforts are underway to provide all available options and expedite decision-making.

Johnny Awad: In times of volatility, hedging and diversifying investments are the first line of defense

Johnny Awad, Chief Executive Officer of CFI in Kuwait, said that in the current climate of volatility, investors are advised to reduce exposure to global markets and turn to financial instruments such as hedging to mitigate risks, while diversifying investments and avoiding concentrating capital in a single investment or spreading it across too many investments. He answered several questions regarding how markets price in during shock periods, what happened to oil prices last February and their current levels, as well as gold, major currencies, and the accumulation of risk premiums. Oil prices reached $120 per barrel before returning to the $70 level. When asked about safe havens and their limits, and the role of gold, he responded that, like any investor today, individuals turn to gold and the Swiss franc as safe havens during wars and tensions. However, given the current rise in oil prices to $120 per barrel, which has led to inflation accompanied by interest rate hikes, gold no longer holds the same importance as a safe haven. He pointed out that rising government bond yields have significantly influenced investors to shift toward bonds, thereby reducing gold’s appeal.

Launch of the MoneyTech Community

Nasser Al-Otaibi announced the launch of the MoneyTech Community, a service that integrates technological innovation with media. It enables members to access key economic events and news, follow conference activities and related events, and aims to connect private sector companies with each other through the exchange of news, services, and products.

Al-Rashdan: Kuwait Investment Company’s participation reflects its commitment to supporting specialized investment dialogues

Talal Al-Rashdan, Deputy Head of Public Relations and Media at Kuwait Investment Company, emphasized the importance of the company’s participation as a strategic partner in the fifth edition of the MoneyTech 2026 summit, organized yesterday by Al-Jarida newspaper at the St. Regis Hotel in Kuwait. He noted that this participation aligns with the company’s commitment to strengthening its presence at specialized economic and investment events and contributing to dialogues discussing financial market developments, investment trends, and the future of the financial sector in the region. Al-Rashdan clarified that the MoneyTech summit serves as an important platform bringing together a select group of leaders, experts, and specialists in financial, investment, and technology sectors, facilitating the exchange of experiences and perspectives on the most significant market transformations, challenges related to investment and wealth management, and showcasing investment opportunities in local, regional, and global markets.

He added that the company’s participation as a strategic partner reflects its commitment to supporting initiatives and events that enrich economic and investment discourse, and enhance knowledge exchange among financial and investment institutions, particularly in light of the rapid changes affecting markets and the imperative to develop investment insights and strategies, keeping pace with investors’ needs and aspirations.