Kuwait, 20 November 2008: The GCC Council of Ministers of Labour and Social Affairs recognized Gulf Bank as the winner of the prestigious Localization Award for the fourth year in a row.

The award recognizes how Gulf Bank has excelled in localization, demonstrating a real commitment to developing careers for Kuwaitis within the bank. Through dedicated HR practices geared to supporting Kuwaitis, including tailored training and development, Gulf Bank is helping people to achieve their career aspirations in the banking industry.

The award also acknowledges Gulf Bank's outstanding success in achieving one of the highest employment percentages of Kuwaiti nationals in the Kuwait private sector.

"Gulf Bank is honoured to receive this important award," said Surour Alsamerai, General Manager - Human Resources: "The Bank has invested heavily in the professional development of Kuwaiti talent and in giving young Kuwaitis the opportunity to build a career and contribute to our country's economic advancement."

"This award shows that Gulf Bank is leading the banking industry and the entire private sector in retaining and encouraging local talent, as well as investing in their future. No other bank in Kuwait has been able to match our record or the strength of our commitment."

Gulf Bank received the Localization Award at an event hosted by the GCC Council of Ministers of Labour and Social Affairs in Doha, Qatar.

"These awards are a testament to the efforts of our Human Resources team in building a strong, well-trained base of Kuwaiti talent. Gulf Bank will not rest on its achievements and we will be working hard to maintain our leading position," Mr. Alsamerai concluded.