Jehad Saud al-Humaidhi on empowering women and advancing Islamic finance
AUB Kuwait CEO has been recognised as the Mena Islamic Banker of the Year at the Mena Banking Excellence Awards 2023.
What inspired you to pursue a career in banking and how did your journey with Ahli United Bank start?
Banking is a highly demanding profession that appeals to individuals who are willing to embrace and thrive in a challenging environment. As such, I have found that banking closely aligns with my personal and professional aspirations. This career path offers ample opportunities for ongoing, rapid-paced training and personal development. I started my journey at Ahli United Bank (AUB) Kuwait, where I was involved in the technological aspects of banking. And ever since, I have played a pivotal role in the inception and development of the bank’s digital and operational platforms.
What advice would you give to young women who aspire to become leaders in the banking industry?
My advice to young women who are starting their banking careers is to prioritise self-confidence and remain focused on their objectives. It is essential for every individual to plan ahead for each task or project and to establish achievable objectives from the outset, and women should do the same.
How does AUB support the development of Kuwaiti women in the banking sector and promote inclusion?
The AUB group upholds the highest standards of diversity and fair treatment without any form of discrimination. Our workforce includes individuals of varying genders, religions and backgrounds who work in harmony.
Women and men are equally empowered with training opportunities and career advancement. Our focus is on employee efficiency and achievements, and these are our key drivers.
Can you provide examples of recent initiatives AUB has undertaken to improve its products and services?
There are a multitude of such initiatives that AUB has undertaken, including the recent launch of a cutting-edge business-to-business (B2B) application, which was launched with a free-style operating model. Additionally, AUB is a pioneer in introducing Apple and Google Pay in Kuwait. We regularly enhance and benchmark all of our products against the market to ensure continued improvement.
What initiatives has AUB undertaken to promote social responsibility and sustainability in its Islamic banking products and services?
A dedicated department at AUB has been designated to oversee all corporate social responsibility (CSR) activities and goals, with a suitable budget allocated for this purpose. An annual plan and programme charter have also been approved, and include various initiatives such as supporting government health programmes, aiding the elderly, assisting the needy and handicapped, and promoting charitable and athletic pursuits.
What role will Islamic finance play in supporting sustainable and long-term investment decisions?
Islamic lenders offer a range of competitive products and services that cater to clients from all backgrounds, irrespective of their religion, location or nationality. Our sharia-compliant products present excellent opportunities for investment. At AUB, we take great care to tailor our savings, finance, real estate and investment products to suit the specific needs of both Muslim and non-Muslim clients alike.
What are the growth prospects for Islamic banking in Kuwait and beyond, and how is AUB positioning itself to take advantage of these opportunities?
It is anticipated that the growth rate of Islamic banking will surpass that of conventional banking in 2023, with double-digit growth projected. This noteworthy expansion is being observed on a global scale, particularly in the GCC.
At AUB, we are committed to seizing every viable opportunity to participate in syndication finances for infrastructure and megaprojects, as well as in corporate, small and medium enterprise (SME) and consumer banking.
Are governments and central banks doing enough to support the Islamic finance industry?
In Kuwait, the government and the central bank are working together to bolster the banking sector and safeguard the market.
Through the Central Bank of Kuwait’s (CBK’s) efforts to uphold a robust financial stability system and the Ministry of Finance’s sponsorship of government investments, the financial system is advancing steadily and securely.
Moreover, CBK and the government are lending their support to all digital initiatives, which are expected to elevate the industry to new heights. However, it may be prudent to give greater priority to expediting the issuance and approval of laws to align with the evolving global economy.
Ahli United Bank Kuwait CEO Jehad Saud al-Humaidhi has been recognised as the Mena Islamic Banker of the Year at the Mena Banking Excellence Awards 2023.