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Gulf Bank Named Best Foreign Exchange Bank in Kuwait by Global Finance Magazine

Kuwait, December 13, 2007: Global Finance, the world?s most influential finance publication, has named Gulf Bank as the best Foreign Exchange Bank in Kuwait and as a bank that large Kuwaiti, regional and global companies can rely on for their foreign exchange and Treasury needs.

The criteria for selecting Gulf Bank as the winner in Kuwait included the foreign exchange transaction volumes of the Bank, its market share, scope of coverage, customer service, competitive pricing and the use of innovative technologies.

This is the latest of a number of awards that Gulf Bank has received from Global Finance ? in 2007 it has already been named as the Best Bank in Kuwait and the Best Consumer Internet Bank.

Commenting on the award, CEO Louis Myers said: "We are very proud to once again receive this global recognition for the quality of the services we deliver. Foreign exchange volumes and other treasury products have steadily increased for the bank and this is becoming an increasingly important part of our operations here in Kuwait."

General Manager for Treasury, Mr. Shahid Mohammed added: "The award recognises the outstanding work done by our treasury staff working in foreign exchange that have an intimate knowledge of the international exchange markets. We would like to thank our partners, for their contribution in making this happen and we would like to assure them that we will continue to strive to deliver the best FX & Treasury solution services to our clients at competitive prices."

The daily turnover of the global foreign exchange market has now exceeded $US 3 trillion as the market continues to grow and evolve in response to economic, political and technological forces.

Global Finance has more than 250,000 readers in more than 158 countries and is an authoritative source of information for CEOs, CFOs, Treasurers and other financial officers responsible for making investments and strategic business decisions for global companies and financial institutions.

Award - Global Finance

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