Al-Turki: Digital transformation and artificial intelligence are pillars of economic growth and business competitiveness

Heathem Al-Turkiet, Deputy Chief Executive Officer for Technology and Operations at Kuwait Finance House (KFH), stated that digital transformation has transcended the concept of providing services through applications and digital platforms to become one of the fundamental pillars of modern institutions’ operations, contributing to accelerating transactions, boosting productivity, and enhancing business efficiency. He emphasized that discussions about the future of investment and economic growth are now closely linked to technological advancements and investment in innovation.

Al-Turkiet added in his speech during the fifth edition of the MoneyTech 2026 Summit, organized by Al-Jarida newspaper, that the summit’s themes address pivotal issues, foremost among them “Investment in Times of Uncertainty,” a topic that has become imperative for economies and financial markets today. The challenge is no longer limited to addressing market volatility but extends to maintaining investment flows, supporting productive sectors, and achieving a balance between seizing opportunities and managing risks.

Artificial Intelligence

Al-Turkiet clarified that artificial intelligence represents an advanced stage in the evolution of the financial sector, given its significant capabilities in data analysis, enhancing customer experience, automating processes, and strengthening risk management and early fraud detection. He noted that KFH views artificial intelligence as a key driver of innovation and productivity, within the framework of responsible use of modern technology, adherence to data governance and transparency, thereby delivering tangible impacts on business development and enhancing customer experience.

Cybersecurity

Al-Turkiet underscored the importance of cybersecurity amid the rapid expansion of the digital economy, pointing out that the significance of cybersecurity and operational resilience grows with increasing reliance on digital services. Customer and investor trust is linked to institutions’ ability to protect funds and data, ensure transaction integrity, and guarantee service continuity. He stressed that investment in protection and operational readiness has become a key factor in enhancing the stability of the financial sector and addressing various challenges. He explained that institutions’ ability to continue providing services strengthens market confidence in the financial system, and that operational resilience is built before crises through reliable infrastructure and effective response and recovery capabilities.

Wealth Management and FinTech

Al-Turkiet stated that small and medium-sized enterprises (SMEs) and startups represent a vital source for economic diversification and job creation, and require partnerships that combine the expertise of financial institutions with the innovations of entrepreneurs.

He added that the summit’s focus on topics such as wealth management, FinTech, venture capital, and entrepreneurship reflects the excellence of its thematic tracks and their relevance to the evolving banking and economic landscape at local, regional, and global levels.

Linking investment opportunities with financing

Al-Turkith emphasized that economic responsibility constitutes an integral part of Kuwait Finance House’s role toward its clients, the national economy, and the markets in which it operates. He noted the bank’s commitment to leveraging its financial, operational, and technological capabilities, as well as its regional and international network, to support clients, finance the real economy, and develop solutions that combine innovation, reliability, and good governance.

He added that the expansion of Kuwaiti financial institutions into regional and global markets creates greater opportunities for knowledge exchange, building partnerships, and linking investment opportunities with appropriate financing, thereby enhancing Kuwait’s economic presence and supporting sustainable development.

He clarified that Sharia-compliant financing and investment instruments, foremost among them sukuk, play a crucial role in diversifying funding sources and broadening investment options. He pointed out that the success of financial institutions is not measured solely by their financial results, but also by the value they add to the economy and society.

700 million electronic banking transactions

He highlighted Kuwait Finance House’s continued efforts to develop its digital services, upgrade its infrastructure, and streamline procedures to align with customers’ expectations and evolving banking behaviors. He noted that the bank’s clients executed more than 700 million electronic banking transactions by the end of the third quarter of 2026, reflecting shifts in customer behavior, growing reliance on digital services, and the capacity of technology to facilitate economic activity, save time and effort, and enhance service delivery efficiency.

Human capital

He added, “The future we aspire to does not rely on technology and capital alone; it also requires investment in human capital. Developing national competencies and enhancing their financial and technological skills forms the foundation for innovation, maximizing the benefits of modern technologies, and transforming them into sustainable value.”

He emphasized that Kuwait Finance House places great importance on developing national competencies, enhancing their professional and technical capabilities, and providing a work environment that fosters innovation and continuous learning.

Supporting Business Continuity

Al-Turkistani clarified that the role of financial institutions extends beyond providing financing; it includes helping investors and companies make informed decisions and offering solutions that support business continuity and contribute to sustainable economic growth. He highlighted the importance of attracting regional wealth and investments and directing them toward promising opportunities in Kuwait and the region, praising the summit’s role in bringing together leaders from the financial, investment, and technology sectors to discuss opportunities and challenges and to formulate shared visions for the future of the national economy.

Vision 2035

Al-Turkistani noted that the summit carries national and economic significance that aligns with the objectives of “Kuwait Vision 2035,” which aims to strengthen Kuwait’s position as an attractive financial and commercial hub for investment and to increase the private sector’s contribution to development. He explained that this vision enhances the role of financial institutions in mobilizing savings, financing productive projects, empowering companies, and connecting investors with economic opportunities, thereby going beyond the traditional role of banking services.

He added that enhancing Kuwait’s financial standing requires an attractive business environment, clear regulatory frameworks, advanced services, and sustained confidence in institutions and markets. He stressed the importance of directing capital toward productive projects and activities that contribute to diversifying income sources and strengthening economic growth, thereby benefiting investors, society, and the national economy.

Importance of the Summit

Al-Turkistani expressed his hope that the topics discussed at the summit would enrich dialogue and facilitate the exchange of expertise, leading to practical concepts that support the future of the financial sector and the Kuwaiti economy, especially in light of rapid economic and geopolitical shifts that pose challenges to markets, financing costs, and operational expenses. He pointed out that these changes underscore the importance of building a diversified economy, more resilient financial institutions, and an investment environment capable of attracting capital and turning challenges into opportunities for growth.

In conclusion, Al-Turkistani emphasized the importance of translating the summit’s outcomes into practical partnerships and initiatives that bring together financial institutions, investors, entrepreneurs, and policymakers, thereby enhancing Kuwait’s competitiveness and supporting its economic standing. He expressed Kuwait Finance House’s pride in continuing its strategic partnership with this event.