Kuwait, 9 November 2009: The GCC Council of Ministers of Labour and Social Affairs recognized Gulf Bank as the winner of the prestigious Localization Award for the fifth year in a row. Gulf Bank received the Localization Award at an event hosted by the GCC Council of Ministers of Labour and Social Affairs in Muscat, Oman on 8th November 2009.

The award acknowledges Gulf Bank's outstanding success in achieving one of the highest employment percentages of Kuwaiti nationals in Kuwait's private sector and being the first Kuwaiti bank to achieve this status.

The award also recognizes Gulf Bank's excellence 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.

Ali Al-Rashaid Al-Bader, Gulf Bank's Chairman said: "Gulf Bank is honoured to receive this important award. This award is a testament to the efforts of the 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."

"This accomplishment for the Bank signifies our long-term strategy of recruiting, developing and retaining Kuwaiti talent and investing in community initiatives that encourage young people to join the banking sector," added Al-Bader.

Gulf Bank's workforce is now over 60% Kuwaiti, with over 80% in branches, one of the highest rates of any business in Kuwait.

Many new Kuwaiti employees have been hired by Gulf Bank since the beginning of the year in various departments and the Bank continues to make job opportunities available to professional Kuwaitis, seeking a rewarding career in the banking sector.

Surour Alsamerai, General Manager - Human Resources said: "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."

"Gulf Bank is committed to delivering world class banking services to the Kuwaiti market. At the heart of the Bank's success is a highly motivated and experienced staff that thrives in a corporate culture, combining superb teamwork and a passion for excellence to continually deliver the best possible services and product range.

Gulf Bank remains proud of each and every member of its professional and valued staff and remains committed to developing and investing in the future of Kuwaitis and the Kuwaiti society," he concluded.