Kuwait: Kuwait International Bank (KIB) has signed a memorandum of understanding (MoU) with Kuwait University - College of Administrative Sciences, aimed at enriching student training and enhancing educational curricula in the real estate sector. This initiative will involve practical studies on diverse property types and the organization of academic workshops and training courses, benefiting both university students and professionals interested in this crucial sector.

The three-year MoU was officially signed by Prof. Adel Abdullah Al-Wuqayan, Acting Dean of the College of Administrative Sciences, and Jassim Al-Abdulhadi, KIB’s General Manager of the Real Estate Department. It authorized Dr. Nawaf Al-Abduljader, Acting Assistant Dean for Planning, Consulting, and Training, Dr. Fahad Al-Mudhaf, Associate Professor in the Finance and Financial Institutions Department, along with Fahad Alsaleh, Real Estate Advisory and Real Estate Product Development and Support Division Manager at KIB's Real Estate Department, Engineer Hossam Al-Kolak, Real Estate Expert in the Real Estate Department, and Engineer Ahmed Al-Yaqoub, Manager of the Real Estate Appraisal Department, to implement the joint cooperation between the University and the Bank.

Commenting on the occasion, Al-Abdulhadi, said: "The objective of the memorandum is to incorporate practical studies in investment and real estate valuation into Kuwait University's academic curriculum. The initiative aims to enrich the educational experience of both undergraduate and graduate students through academic workshops. These workshops will cover a range of property types and specialized valuation techniques, providing students with practical insights into current trends in the sector and networking opportunities with real estate professionals. This approach is intended to substantially enhance their knowledge and practical skills in the field of real estate."

Al-Abdulhadi added that the memorandum also aims to strengthen the positive strategic partnership between KIB and Kuwait University by offering real estate courses designed to develop the knowledge, skills, and experience necessary for both Kuwait University students and real estate professionals and brokers. This is in addition to strengthening cooperation in preparing scientific studies on investment and real estate valuation and the real estate market in general, to gain a deeper understanding of the local market.

KIB has been a pioneering institution in establishing the real estate valuation profession in Kuwait since 1973, Al-Abdulhadi highlighted. Renowned as the leading entity for real estate valuation and economic feasibility studies, KIB caters to a diverse clientele including companies, individuals, government institutions, accounting firms, and law offices. With its profound expertise and competence, KIB is well-equipped to offer comprehensive and reliable practical studies in this domain, encompassing a wide range of property types such as residential, investment, commercial, industrial, and artisanal.

It is worth mentioning that KIB recently launched its entirely new digital real estate platform, KIB Aqari, designed specifically for its customers interested in owning, selling, and leasing properties. It is supported by a digital real estate appraisal request service, launched for the first time in Kuwait, in addition to creating the largest real estate database in the country through the application. This reaffirms the Bank's commitment to keeping up with the latest digital innovations to provide an exceptional customer experience, saving their time and effort, and meeting their business needs more easily and securely.

About KIB

Kuwait International Bank (KIB) is a bank that operates according to the Islamic Shari’ah, based in the State of Kuwait. Incorporated in 1973, and originally known as Kuwait Real Estate Bank, KIB made the transition to its current Islamic operating model in 2007. In 2018, KIB embarked on a new phase of its journey full of innovation and development. As part of its new strategic direction, the Bank focuses on offering a next-level customer experience under the slogan: “Bank for Life”. 

Through a network of branches spread across the State of Kuwait, KIB offers a broad range of banking products and services, as well as innovative digital banking solutions in line with international best standards. As part of its duty towards the community, the Bank also encompasses a leading social responsibility program that aims at positively impacting all members of the community through a wide range of impactful initiatives and activities.

Today, KIB has taken concrete steps in implementing its new strategic objectives. The Bank has cemented its role as a key player in the local banking industry and has continued to maintain its strong financial performance; enabling it to be globally recognized for its strong credit rating and financial position.