Burgan Bank Exceeds Kuwaitization Requirements in 2023, Reaching 83% Nationalization Rates

Building on its institutional belief and realizing its vision for community development, Burgan Bank announced recording an impressive 83% Kuwaitization rate among its workforce – surpassing the minimum regulatory requirements by 13% - and marking one of the highest rates in Kuwait and across the banking sector.

In adherence to the nationwide Kuwaitization strategy, this accomplishment cements Burgan’s commitment to its human capital investment strategy and its efforts towards the development of local aspiring talents within the banking and financial sector, ensuring that Burgan remains a top employer of choice in the market.  

Believing in the unique potential that every talent holds, the Bank continues to emphasize the development of young Kuwaiti talents who are driven by ambition and creativity, which echoes the Bank’s strategy for serving a top-notch banking experience to its customers and amplifying positive change across society.  

Burgan’s investment in local professionals of a variety of experience levels also aligns with its adherence to Environmental, Social, and Governance (ESG) industry standards and practices, which guide the Bank towards holistically sustainable business success and growth.

Commenting on this impressive achievement, Mr. Naqeeb Amin, General Manager – Human Resources and Development for the Group at Burgan Bank, said: “On behalf of Burgan’s management, I would like to express my utter pride in the great Kuwaitization feat that we have collectively achieved in 2023. As we strive towards our vision of becoming the most modern and progressive bank in Kuwait, driven by our employees, customers, and community, we remain relentless in our search for the market’s top Kuwaiti talents - whether they are undergraduates, seasoned professionals or experienced managers - who hold the key to a brighter future for Burgan Bank and the local economy.”

In 2023, female employees accounted for 48% of the workforce at Burgan Bank. Moreover, 95% of all new hires during the year were Kuwaitis. In addition to the dedication to recruiting Kuwait’s brightest professionals, Burgan’s Human Resources and Development (HRD) Department sought to ensure that all employees continued to grow and hone their personal and professional skills, setting them up for a great and prosperous future. In the same year, the Bank dedicated 94% of all training hours to the development of all Kuwaiti talents.  

To ensure the highest levels of involvement in and benefit from the learning and development resources, Burgan Bank made sure to offer its employees different educational channels that suit their different learning styles and preferences, which further bolstered learning ownership and motivation among the different departments and job grades. In addition, it ensured that staff are up to date on all vital information about financial and banking transactions, as well as customer and bank rights, ensuring that every employee is an ambassador of financial literacy and a successful representative of the “Let’s Be Aware” (Diraya) banking awareness campaign.

About Burgan Bank  

Established in 1977, Burgan Bank is a Kuwait-based conventional bank with a significant focus on the corporate and financial institution sectors. From its earliest days, the Bank has significantly sought to diversify its offering to cater to its growing retail and private banking customer base.  

Burgan Bank has majority-owned subsidiaries, collectively known as the “Burgan Bank Group”, in the MENAT region. This Group is supported by one of the largest branch networks across the region and includes: Gulf Bank Algeria – AGB (Algeria), Tunis International Bank – TIB (Tunisia), and the fully owned Burgan Bank Turkey. Furthermore, Burgan Bank has a presence in the UAE through its corporate office, Burgan Financial Services Limited.

The Bank has continuously improved its performance over the years, through an expanded revenue structure, diversified funding sources, and a strong capital base. The adoption of state-of-the-art services and technology has positioned it as a trendsetter in the domestic market and within the MENA region. Moreover, Burgan Bank’s brand has been built on a foundation of real values – trust, commitment, excellence, and progression – which serve as a reminder of the high standards to which the Bank always aspires. In fact, the Bank’s core philosophy of ‘Driven by You’ is the foundation on which its products and services are continuously developed.

The Bank obtained the ISO/IEC 27001: 2013 Information Security Management Systems certificate (ISMS) and was re-certified with the prestigious ISO 9001:2015, making it one of the few banks in the GCC and Kuwait to receive such certification for five consecutive times. The Bank also has the distinction of being the only Bank in Kuwait to have won the JP Morgan Chase Quality Recognition Award for twenty consecutive years. Moreover, in a testament to its dedication to the development of its human capital, Burgan Bank is the first bank in Kuwait to be certified as a Great Place to Work®, earning the distinct honor in 2023.

Burgan Bank is a majority-owned subsidiary of KIPCO (Kuwait Projects Company), one of the largest holding companies in the MENA region.