Launch of the Fifth Edition of Al-Jarida MoneyTech Summit

The fifth edition of the MoneyTech Summit, organized by Al-Jarida in partnership with Ooredoo Kuwait, kicked off at the St. Regis Kuwait hotel, with the participation of a select group of economists and experts from the banking, investment, and telecommunications sectors.

During the opening of the conference, Editor-in-Chief Nasser Al-Otaibi stated that the fifth edition of the MoneyTech Summit takes place amid geopolitical developments and regional events that have reshaped the global economic landscape and international trade dynamics.

Al-Otaibi added that Gulf Arab countries have recently suffered from reprehensible Iranian attacks targeting their economic sectors, as well as their oil, industrial, and civilian infrastructure. Meanwhile, airports and cities in the brotherly Kingdom of Saudi Arabia continue to be targeted by Houthi militias, marking an unprecedented regional escalation and condemned terrorist attacks that disregard international laws and treaties.

He clarified that the difference between those who emerge from a crisis as losers and those who emerge stronger is not determined by circumstances alone, but by managerial readiness, clear vision, and the ability to make decisions during difficult times. The past few months have most notably demonstrated that technology is no longer a luxury or a supporting tool, but has become the first line of defense for business continuity.

He explained that when supply chains were disrupted and transportation movements stalled, digital infrastructure served as the bridge that maintained communication between institutions and their customers, keeping the economic engine running.

Al-Otaibi noted that this phase has taught us that uncertainty is no longer a temporary exception we wait to pass, but a reality we must learn to operate within, recalibrating our risk assessments and seizing opportunities accordingly.

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

Marking the fifth anniversary of the MoneyTech Summit, Al-Otaibi announced the launch of the MoneyTech Community, a service that integrates technology and media, allowing members to access key economic events and news, follow conference activities and related events, and connect private sector companies with one another through the exchange of news, services, and products.

For his part, Abdulaziz Al-Babtain, CEO of Ooredoo Kuwait, stated that the company holds important partnerships with major global firms, including NVIDIA, and announced that it would soon announce partnerships of similar magnitude to NVIDIA.

Al-Babtain added in his speech at the MoneyTech Summit: “We are leading the transition toward an AI-driven economy through strategic investments in advanced infrastructure to shape the digital future.”

He clarified that Ooredoo Kuwait is leveraging artificial intelligence across all sectors, particularly cybersecurity, where the company possesses significant Kuwaiti expertise.

Al-Babtain noted that Ooredoo Kuwait did not experience any disruptions during the onset of the regional crisis last February and its repercussions, which affected most aspects. He pointed out that there are nine cables connecting Internet services, including two submarine cables and seven land-based cables, adding that serious cooperation with the government and its understanding of the nature of the crisis were key factors in overcoming the situation, with no one experiencing any outages.

Al-Babtain emphasized that Kuwaiti youth have reached global ranks due to the quality education that was lacking in previous periods, noting that “graduates come out job-ready,” which gives us a glimmer of hope that there are changes with this generation. He added that Ooredoo has clear programs to support them.

For his part, Hitham Al-Turkistani, Deputy Chief Executive Officer for Technology and Operations at Kuwait Finance House, expressed the institution’s pride in being a strategic partner for the MoneyTech Summit, organized by Al-Jarida, which brings together leaders from the financial, investment, and technology sectors to discuss opportunities, challenges, and shared visions for the future of the national economy.

Al-Turkistani stated that this year’s summit holds special significance amid the rapid economic and geopolitical transformations the world is witnessing, along with associated challenges in markets, financing costs, and operational expenses. These conditions underscore the importance of building a diversified economy, resilient financial institutions, and an investment environment capable of attracting capital and turning challenges into growth opportunities. Hence, the themes discussed at this summit are crucial, as they represent a real opportunity to exchange views and expertise and develop concepts that support the future of the financial sector and the Kuwaiti economy.

Al-Turkistani highlighted that investing during times of uncertainty is among the summit’s key themes, a topic that has become imperative for various economies and financial markets today. The challenge is no longer limited to dealing with market volatility but extends to maintaining investment flows, supporting productive sectors, and balancing opportunity capture with risk management. In this context, financial institutions play a pivotal role, as their responsibility extends beyond providing financing to helping investors and companies make informed decisions, offering solutions that ensure business continuity, and contributing to sustainable economic growth.

Al-Turkistani noted that attracting regional wealth and investments and directing them toward promising opportunities in Kuwait and the region is another important theme. While Kuwait has a distinguished history in banking and investment, enhancing its financial standing requires an attractive business environment, clear regulatory frameworks, advanced services, and sustained confidence in institutions and markets. Attracting capital alone is insufficient; it must be channeled into productive activities and projects that diversify income sources and enhance growth opportunities, benefiting investors, society, and the national economy.

He pointed out that these themes take on clear economic and national significance when viewed within the framework of “Kuwait Vision 2035,” which aims to strengthen Kuwait’s position as an attractive financial and commercial hub for investment and expand the private sector’s contribution to development. Consequently, the responsibility of major financial institutions extends beyond traditional banking services to mobilizing savings, financing productive projects, empowering companies, and connecting investors with economic opportunities.

Al-Turkist added: At Kuwait Finance House, we view this responsibility as an integral part of our role as a leading Islamic financial institution with a regional and international presence. We strive to leverage our financial, operational, and technological capabilities to support individuals and businesses, finance the real economy, and develop solutions that combine innovation, reliability, and good governance. We also believe that the expansion of Kuwaiti financial institutions into regional markets facilitates the exchange of expertise and the building of partnerships, helping to match investment opportunities with appropriate financing, thereby enhancing Kuwait’s economic presence and serving sustainable development. We also affirm the importance of Sharia-compliant financing and investment instruments, including sukuk, in diversifying funding sources and expanding investment options. The success of financial institutions is not measured by their results alone, but also by the value they add to the economy and society.

Al-Turkist said that discussing the future of investment and economic growth inevitably leads to a discussion on technology. Digital transformation is no longer just about making services available through applications; it has become a transformation of how institutions operate, accelerating transactions, boosting productivity, and facilitating business activities.

Al-Turkist clarified that at Kuwait Finance House, we continue to develop our services and digital infrastructure and streamline procedures. By the third quarter of 2026, our customers had conducted more than 700 million electronic banking transactions, reflecting a shift in customer behavior and demonstrating technology’s ability to facilitate economic activity, save time and effort, and enhance service delivery efficiency.

Artificial intelligence, meanwhile, represents a new stage in the evolution of the financial sector, offering advanced capabilities for data analysis, improving customer experience, automating processes, and strengthening risk management and early fraud detection. We view AI as a driver of innovation and productivity, provided it is used responsibly and in compliance with data governance and transparency principles. The true value of technology is measured by its impact on business and customers.

Al-Turkist pointed out that as the digital economy expands, the importance of cybersecurity and operational resilience grows. Customer and investor trust rests on the protection of funds and data, the integrity of transactions, and the continuity of services under all circumstances. Therefore, investing in security and operational readiness is not merely a technical matter, but an investment in the stability of the financial sector and the economy’s capacity to face challenges. Operational resilience is built before crises occur, through reliable infrastructure and effective response and recovery capabilities. The greater the ability of institutions to continue providing their services, the stronger the market’s confidence in our financial system.

Al-Turkist explained that the future we aspire to does not rely solely on technology and capital; it also requires investment in human resources. Developing national competencies and enhancing their financial and technological skills are the foundation of innovation and the ability to leverage modern technologies to create sustainable value. At Kuwait Finance House, we place great emphasis on developing national talent, enhancing professional and technological capabilities, and fostering a work environment that encourages innovation and continuous learning.

He also clarified that the importance of this summit extends beyond exchanging ideas; it involves building practical partnerships that bring together financial institutions, investors, entrepreneurs, and policymakers, transforming discussions on investment and technology into opportunities and projects that enhance Kuwait’s competitiveness.

At the conclusion of his speech, Al-Adwani expressed his gratitude to Al-Jarida newspaper, the organizers of the summit, as well as to the participants and speakers, hoping that the summit’s outcomes would yield initiatives supporting the national economy, strengthening the future of the financial sector, and serving our beloved homeland, Kuwait.

During the first panel session of Al-Jarida’s MoneyTech Summit, held under the theme “Mergers and Acquisitions,” Abdullah bin Dasmal, Vice President for Investments at ADNOC Drilling, predicted significant growth in mergers and acquisitions in the Middle East over the coming years due to important opportunities. He noted that the technology currently equipping drilling rigs has accelerated operations and boosted productivity.

For his part, Hassan Al-Jishi, CEO of Malz Capital, stated that the sectors we will witness over the next three years depend on deals and mergers that will take place, with multiple sectors becoming targets for mergers and acquisitions. He added that price may determine entry into an investment, but it does not guarantee returns; other factors govern the matter, including the ability to forecast outcomes in case operations do not align with expectations.

On his part, Ali Al-Ibrahim, CEO of Kovee Tech, announced that they recently closed a deal worth 78 million Kuwaiti dinars, led by Aramco Services, BlackRock, and Al-Essra Company. He emphasized that Al-Essra’s involvement was very important for them, as they hold significant market sectors, and noted that they announced their merger last month.

For his part, Sharif Al-Rafaei, CEO of ABK Wealth Management, stressed the importance of maintaining a comprehensive relationship with clients to understand their companies’ needs, working to manage their wealth from the beginning, “step by step.”

Meanwhile, Mohammed Al-Othman, CEO of Personal and Digital Banking at National Bank of Kuwait (NBK), stated that the banking sector is undergoing a radical transformation driven by changing customer expectations and rapid technological developments. He pointed out that competition is no longer limited to offering traditional products and services, but has centered on the quality of the banking experience, ease of access, and the bank’s ability to meet each customer’s needs in a personalized and effective manner.

During his participation in the panel session, Al-Othman outlined the key transformations affecting banking services and the role of technology and artificial intelligence in shaping the future of the financial sector.

He clarified that the most significant change over the past five years has been the unprecedented rise in customer expectations, noting that customers today compare their banking experience with the best digital experiences they encounter daily, particularly through major global platforms and applications.

He said customers no longer seek only traditional banking services; rather, they expect immediate, seamless, and personalized services tailored to their needs, available anytime and anywhere. He added that speed, ease of use, and the ability to complete transactions digitally have become essential elements in evaluating the customer experience.

He indicated that this transformation has prompted banks to redesign business models and services to align with new requirements, focusing on making the banking experience more flexible, seamless, and closely tied to customers’ actual needs.

Al-Othman explained that NBK began its digital transformation journey early, placing technology and innovation at the core of its long-term strategy. This proactive approach enabled the bank to build advanced digital infrastructure and continuously develop its technical capabilities, giving it a clear advantage and helping it move faster than many institutions in keeping pace with the rapid changes in the banking sector.

Al-Othman stated, “Today, the bank continues to leverage this leadership by offering advanced digital solutions and services that enhance the customer experience and solidify its position at the forefront of the most innovative banking institutions in the region.”

Regarding the future of digital services, Al-Othman emphasized that the banking sector has made significant progress in its digital transformation journey, with the majority, if not all, daily banking transactions now available through digital channels.

He clarified that the current phase is no longer focused solely on digitizing services, but rather on developing the digital experience to make it smarter, easier, and capable of anticipating customer needs.

He added that there is still ample room for further development, particularly in leveraging data, advanced analytics, and artificial intelligence to enhance customer engagement and deliver more personalized and tailored solutions for each customer.

He noted that National Bank of Kuwait (NBK) continues to reinforce its leadership in digital transformation by developing innovative banking services and solutions that align with customers’ growing expectations for speed, convenience, and flexibility. In this context, he explained that the bank recently provided its customers with a seamless digital experience for applying for loans through the NBK Mobile app, as well as for issuing and managing credit cards digitally. This enables customers to fulfill their banking needs easily, securely, and around the clock, embodying the bank’s vision of delivering a sophisticated banking experience that places the customer at the heart of every innovation.

He stressed that the success of digital transformation is no longer measured merely by the number of services available through electronic channels, but by the bank’s ability to deliver a comprehensive experience that allows customers to complete their transactions from start to finish without needing to visit a branch, while maintaining the highest levels of security and reliability.

He affirmed that leading banking institutions are those that succeed in leveraging technology to improve customers’ lives and simplify their financial interactions, rather than simply introducing new technological tools.

He added, “We had a proactive vision regarding the transformations that technology would bring, particularly to the younger generation, which contributed to the launch of Weyay Bank five years ago. It achieved remarkable success, attracting four times the targeted segment from this important demographic.”

Al-Othman also addressed the growing relationship between banks and emerging fintech companies, noting that perceptions have changed significantly in recent years.

He said that banks no longer view fintech companies as direct competitors, but rather as important partners in accelerating innovation and developing digital solutions. He pointed out that collaboration between the two sides has become a key factor in shaping the future of financial services.

He added that strategic partnerships between banking institutions and fintech companies provide customers with more advanced and faster solutions, while enabling banks to benefit from the innovative ideas and operational models offered by startups.

He highlighted that NBK recognizes the importance of this integration, which has been reflected in practical steps taken by the bank in recent years. Among the most notable is its acquisition of a majority stake in UPayments, a leading provider of digital payment solutions. This move reflects the bank’s conviction regarding the growing role of fintech companies and the importance of leveraging innovation to develop the digital payments ecosystem and enhance the customer experience.

Al-Othman emphasized that artificial intelligence represents one of the most important strategic pillars focused on by the banking sector globally. He noted that its role will extend beyond improving operational efficiency to fundamentally transforming the customer experience.

He clarified that mobile banking has today become, for many customers, the bank’s primary branch, compelling financial institutions to develop digital experiences capable of understanding each customer’s needs and offering services tailored to their financial circumstances and personal goals.

He added that artificial intelligence will contribute to providing more accurate recommendations and developing solutions suited to different age groups and financial needs, thereby enhancing the bank’s ability to build closer and more effective relationships with customers, even as the need to visit traditional branches declines.

Regarding the challenge of balancing ease of use with cybersecurity, Al-Othaim emphasized that trust remains the cornerstone of any banking relationship.

He pointed out that technological advancement and the growing reliance on digital solutions require continuous investments in protection systems and cybersecurity, alongside raising customer awareness and promoting a culture of safe use of digital services. He noted that trust is the most important currency in digital banking.

He stressed that banks must continue to invest in both technology and security simultaneously, to ensure the delivery of advanced experiences without compromising the levels of protection and reliability that customers expect.

On the future shape of retail banking over the next five years, Al-Othaim predicted that banking services would become more integrated into customers’ daily lives and increasingly reliant on smart technology.

He indicated that the future will move toward more personalized and proactive services, enabling banks to meet customers’ needs before they are explicitly requested, with the continued evolution of digital channels and the expanding role of artificial intelligence across various aspects of banking operations.

Al-Othaim concluded by emphasizing that the future of the banking sector will not be determined by technology alone, but by the ability of financial institutions to leverage this technology to build simpler, more flexible, and more secure banking experiences, placing the customer at the center of every step in development and innovation.

Meanwhile, Ali Al-Qadi, CEO of BlackRock Kuwait and Head of Client Business for Kuwait and Qatar, said during the panel discussion that inflation rates have reached their highest level in the past decade.

Al-Qadi added that risk pricing is not as frightening as portrayed by the media, noting that small markets are not necessarily exposed to greater risks, but are driven by local investors.

Stating that “we currently manage equity portfolios worth approximately $15 billion,” Al-Qadi pointed out that a very large number of infrastructure projects will enter Kuwait.

For his part, Ahmed Al-Bushra, Senior Director at Carlyle Group, said, “There is competition for capital… cheap capital will not be available.”

He added: “When there is significant panic, assets are liquidated and sold below their value, a scenario we have witnessed frequently in recent periods.”