NBK & AUK sign a Memorandum of Understanding with the objective of “Building the New Generation of Leaders”

Published June 19th, 2005 - 02:09 GMT

National Bank of Kuwait (NBK), and the United Education Company “UEC” owner of the American University of Kuwait (AUK), have signed a memorandum of understanding establishing a 5-year strategic alliance between the two institutions to benefit and deliver a sustainable social and educative services to the Kuwait community.

NBK will be providing a specially tailored comprehensive package of products and services to furnish AUK with full banking services requirements on the organizational and operational levels enabling both parties to facilitate in a joint effort the educational process for all students and scholars. The package includes, but does not limit to, tailor-made customer packages, consumer credit and electronic facilities, intensive banking training programs for selected University students.

Shaikha Dana Nasser Sabah Al-Ahmed Al-Sabah, Chairwoman of United Education Company emphasized the importance of this strategic alliance with NBK which is one of the preeminent Banking Institutions in Kuwait and the Middle East. Furthermore, she highlighted the value of the services offered by NBK to AUK community particularly the banking training opportunities provided to AUK’s new generations of students who will be offered a vital learning environment rooted in the liberal arts tradition and will be exposed to the values inherent in NBK- the oldest bank in Kuwait.

Sheikha Khaled Al-Bahar, Group General Manager Corporate Banking at NBK highlighted NBK’s strategic support to strengthen the participation of private sectors in the Kuwaiti Economy. Statistics and demographic distribution of the Kuwaiti population show that almost 55% of the Kuwaiti population is below 20 years of age, which indicates along with the current economical expansion that Banks support to encourage the private sectors involvement and contributions in the Educational sectors has become a necessity. NBK has been always, and will always,  maintain its leading proactive role as the driving force for all the  economic sectors.

Dr. Shafeeq Ghabra, President of AUK stated that this important agreement between AUK and NBK coincides with the successful conclusion of the first year of studies and a plunge into a promising second year of operation with strong academic programs through the support of its community and institutional alliances. By doing so, AUK is positioning itself in the future.”


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