Kuwait International Bank (KIB) announced that its business incubator KIB Mubader Centre has signed a memorandum of understanding and cooperation with the National Fund for Small and Medium Enterprise Development (NFSMED).

 

The agreement aims to enhance collaboration and exchange expertise between the two parties to support the entrepreneurship sector in Kuwait.

 

In this regard, Abdulrahman Al-Kandari, Acting Director General of NFSMED, expressed his enthusiasm for the signing of the agreement, emphasising that the partnership with KIB Mubader Centre will open new avenues for fruitful collaboration between both parties. 

 

Empowering SMEs

He also highlighted that this cooperation will actively contribute to empowering small and medium-sized business owners to achieve success and sustainable progress through support, guidance, and necessary training.

 

In his turn, Abdullah Al-Awadi, KIB's General Manager of Strategy, stated: "The signing of this agreement is part of the Bank’s broader strategy to enhance its role in supporting the small and medium enterprise sector. This collaboration with the National Fund represents a key strategic step toward realising KIB’s vision of building strong partnerships that strengthen national economic development efforts. Through this partnership, we aim to provide innovative and comprehensive solutions that address the needs of entrepreneurs and help them achieve success."

 

Mohammad Al-Huwaidi, Head of KIB Mubader, said: "This agreement will enable both parties to create conducive working environments for entrepreneurs, as well as provide services that meet their growing needs." He also noted that the Kuwaiti market is experiencing significant growth in the entrepreneurship sector, highlighting the need for new programmes and initiatives to support entrepreneurs at all stages of their projects and enhance their sustainability.

 

Supporting entrepreneurs

KIB Mubader Centre spares no effort in strengthening its partnerships and initiating collaborations with various entities, organisations, and institutions dedicated to developing national businesses and supporting entrepreneurs and their projects. 

 

The Centre views these partnerships as a crucial foundation for progressing toward a more prosperous future. The Bank also recognises the importance of activating such agreements through KIB Mubader Centre, which helps achieve the desired goals and enhances the private sector's contribution to the national economy.--TradeArabia News Service