KUWAIT CITY, Nov 3: Kuwait International Bank (KIB) announced the signing of a Memorandum of Understanding (MoU) with the Gulf University of Science and Technology (GUST) for collaboration on its innovation program . The MoU will create a strong foundation for the incubation and acceleration of innovation, providing students with significant opportunities for growth and development. The new agreement is part of the Bank’s commitment to its overall social responsibility strategy, as well as its support for education and youth empowerment for a better future.

KIB will take the lead in coordinating and overseeing the innovation program, with support from a globally recognized innovation expert. Through this partnership, GUST students will have the chance to participate in projects aimed at cultivating creative ideas and solutions. These students will benefit from practical experience through internships and co-op programs at KIB, where they can apply their academic knowledge in a practical banking context. Additionally, KIB will assess high-performing students and graduates for potential employment opportunities, further reinforcing the Bank’s commitment to nurturing local talent and supporting their professional growth.

Commenting on the new partnership, Mohamed Atef El-Shareef, Director General of KIB’s Digital Innovation and Data Intelligence Department, said: “KIB’s agreement with GUST marks another important milestone in its mission to bring the academia and industry, ensuring that the next generation of professionals have the skills and knowledge to excel in a rapidly evolving banking sector. This collaboration also reflects KIB’s efforts to be among the leading institutions leading the way in innovation within the banking sector.

El-Shareef added: “By entering into agreements with academic institutions, we aim to build a strong pipeline of talented professionals who will not only contribute to our businesses but also shape the future of the banking sector in Kuwait. We look forward to signing further agreements with other universities in the near future as part of our ongoing efforts to invest in youth and the future of the financial sector.

For his part, Professor Bassam Alameddine, President of the Gulf University of Science and Technology (GUST), said: “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 into practical industry experience. By working with banking industry experts, our students will be able to develop innovative solutions for the banking industry and gain the skills needed to excel in their careers. This partnership reflects our strong commitment to preparing our graduates. become innovative leaders in the Kuwaiti labor market.

Professor Bassam Alameddine added: “GUST has consistently fostered innovation within its advanced academic programs, ensuring that they align with the evolving demands of the Kuwaiti labor market. In addition, GUST actively supports initiatives launched by Kuwaiti youth in the field of startups and their career prospects. in the private and public sectors. This unwavering commitment is driven by a shared vision to contribute to the progress and prosperity of Kuwait and its younger generation.