Gulf Bank said it signed a partnership with the Institute of Banking Studies to deliver specialised training as the lender prepares to convert into a Sharia-compliant institution, after preliminary approval from the Central Bank of Kuwait in August.
The agreement was signed by Bader Al-Ali, general manager of consumer banking at Gulf Bank, and Rana Al-Nibari, director general of the Institute of Banking Studies, in the presence of senior representatives.
“Our collaboration with the Institute of Banking Studies represents a significant milestone in Gulf Bank’s transition toward Islamic banking,” Al-Ali said. He added:
This partnership underscores our commitment to equipping our employees with the knowledge and capabilities necessary to excel in a fully integrated, Sharia-compliant financial environment.
The programme will provide a foundation in Islamic finance and set out the distinctions between conventional and Sharia-compliant products and services.
Training will cover governance, compliance, accounting and risk management relevant to Islamic institutions, with modules tailored to the bank’s business lines.
“We are pleased to partner with the Institute of Banking Studies to achieve this important milestone,” said acting human resources head Nada Razzouqi.
She said the bank sees investment in human capital as central to execution of its strategy, adding that the initiative aims to equip staff with skills to keep pace with industry change.
Al-Nibari said the institute “will provide tailored training programmes specifically designed to address Gulf Bank’s requirements during this critical phase of transformation.” She said partnerships of this kind strengthen Kuwait’s banking sector and support shifts toward practices aligned with Sharia principles.
Gulf Bank said the central bank’s initial consent on Aug. 18, 2025, was granted under Law No. 32 of 1968 governing currency, the central bank and the banking profession.
The green light followed a feasibility study by a global consultancy and the submission of legal and technical requirements to the regulator, it added.
The bank said the partnership with IBS forms part of a wider transition plan that includes operating changes, systems upgrades and regulatory engagement. Gulf Bank said it would provide updates on progress as implementation advances in due course.
