According to the General Secretariat of the Union of Arab Banks, the financial figures available to Arab banks for the end of 2021 reveal that 72 Arab banks entered the aforesaid list, where the total capital reached roughly USD 29.8 billion in core capital, and they also manage assets estimated at USD 272.4 billion. The assets of the 72 Arab banks totaled USD 3.4 trillion, with a major basis of around USD 374.9 billion.

Fattouh noted that with 14 Emirati banks included, the UAE had the highest proportion of Arab banks among the top 1000 global banks, followed by Saudi Arabia (10 banks), Bahrain and Qatar (8 banks), Egypt and Kuwait (7 banks each), the Sultanate of Oman and Morocco (5 banks each), Jordan (4 banks).

As per him, Saudi banks are in the lead in terms of total core capital, which was around USD 115.1 billion. They are followed by banks from the UAE (USD 89.8 billion), Qatar (USD 54.9 billion), Kuwait (USD 29.8 billion), and Egypt (USD 25.4 billion).

Regarding assets, UAE banks came in first place with total holdings of roughly 835.4 billion dollars, followed by Saudi banks with 808.8 billion, Qatar with 535.2 billion, and Egyptian banks with 835.4 billion (354.9 billion dollars).

According to the basic capital forecast for 2021, Fattouh noted that there are 18 Arab Islamic banks among the top 1000 global banks, distributed as follows: Indicating that the study he created is based on data released by “The Banker” magazine during the month of July 2022, which contains the 1000 largest banks in the world a per Tier 1 capacity by the end of 2021, he lists four Islamic banks for the UAE, Saudi Arabia, and Qatar, three Islamic banks in Kuwait, two banks in Bahrain, and one bank in Egypt.

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Licensed and based on market research
The new service is licensed by the Central Bank of Kuwait and Kuwait’s Capital Markets Authority, and was developed based on significant research of the needs of Gulf Bank’s Priority and Wealth Management clients.

The first of its kind in Kuwait
Gulf Bank developed the WISE Investment Service — a distinctive offering in Kuwait — in a way that allows exposure to investment opportunities around the world through a trusted banking partner and dedicated relationship manager. Through WISE, the bank is offering the best risk adjusted returns by investing with long-term view in a globally diversified portfolio consisting of low cost passive index investment and by tracking the returns of the market.

Diversified investment opportunities
By offering its customers WISE, Gulf Bank has simplified the investment process by determining each client’s risk appetite and investment goals and providing various customised investment scenarios to deliver the most optimal portfolio. WISE’s portfolio consists of nearly 5,000 securities and companies on average, providing Gulf Bank clients with an extensive range of options to suit their specific investment needs across the world.
Simplified investment approach that measures risk
WISE offers multiple, tailor-made portfolios based on each client’s investment objective, length of investment and risk preferences, in partnership with top international financial institutions.

A Noble Prize-winning strategy
WISE follows the Nobel Prize-winning strategy of passive index investing. The main principle of this investment strategy is that it is impossible to consistently beat the market in the long run, focusing on the best risk adjusted returns that are created by investing with a long-term view in a globally diversified portfolio.

Strong focus on exchange-traded funds (ETF)
WISE is based on historic performance across a variety of portfolios to enhance the opportunity for investment returns for clients, with a focus on Exchange-Traded Funds (ETF) from trustworthy providers that have a low cost of ownership.

Ongoing monitoring and optimisation
Throughout the process and over the course of the established investment time, Gulf Bank will continuously monitor and optimise the portfolio. WISE also allows clients to view their investment portfolios any time and anywhere, with easy access through secure online and mobile banking.

Costs and taxes
A management fee is paid on an annual basis. Portfolios are US dollar dominated, designed to distribute dividends, be tax efficient and have sufficient liquidity, along with an established track record.

The post Gulf Bank’s WISE offering appeared first on International Finance.

February 3, 2015: Gulf Bank has announced that it has received the ‘Best Retail Bank in Kuwait’ award from International Finance Magazine, one of the world’s leading financial publications with a readership in over 200 countries. The award highlights Gulf Bank’s strategy and commitment to offering its customers the best possible services within a safe and secure framework that drives business success.

The awards ceremony took place at the Jumeirah Carlton Towers in London on November 18, and was attended by representatives from Gulf Bank and other award winners, representing global leaders within the banking sector. Winners were chosen by a panel of industry experts drawn from international ratings agencies and some of the world’s leading financial centres. The International Finance Magazine Awards recognize and honour individuals and organisations that make a significant difference and add value, and while delivering the highest standards of innovation and performance.

Mr. César González-Bueno, Gulf Bank’s Chief Executive Officer, said, “It’s a great accomplishment and honour for Gulf Bank to receive this prestigious award and the recognition it represents.  We are proud that our efforts are being recognised but we also know we can’t be complacent; we must continue to hold ourselves to the highest global standards and continue to reflect our dedication to maintaining our place as Kuwait’s leading retail bank.”

Gulf Bank is frequently honoured with prestigious awards and accolades. Most recently, the bank has been recognised as the ‘Best Domestic Payments and Cash Management Bank in Kuwait’ by Asian Banker, received the ‘Best Domestic Retail Bank’ and ‘Best Human Resources Development’ awards for 2014 from Banker Middle East and STP Award  from Citibank.

The IFM Award celebrates excellence by encouraging the highest standards of innovation and performance. It recognises and honours individuals and organisations in the international financial industry that make a significant difference and contribute to raising the bar through activities of note.

Press Release

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