In support of the Diraya “Let’s Be Aware” campaign

• AbdulMohsen Al-Nassar: Gulf Bank's WISE and AlDanah Millionaire account are two models of investment and savings

As part of its social responsibility to promote financial literacy across various segments of society, Gulf Bank is introducing its customers to the appropriate savings and investment channels, through its social media platforms, website and various media outlets.

For the third consecutive year, Gulf Bank is continuing to support and actively participate in the Diraya “Let’s Be Aware” campaign, which is initiated by the Central Bank of Kuwait and the Kuwait Banking Association. Diraya is an awareness campaign that aims to spread financial literacy in society, raise awareness of the role of the banking sector, and promote the various services that banks offer to their customers.

Elaborating on the process of saving and investing, Gulf Bank’s Corporate Communications Officer, Mr. AbdulMohsen Al-Nassar, explained that saving is about reserving a sum of money for later use, while investing is allocating an amount of money, and placing it in a product or service for the purpose of obtaining profits. AlNassar further indicated that Kuwaiti banks provide customers with various safe investment products and services, that can help them manage their investments and increase their returns. Some of the investment products and services include:

Deposits and Investment Funds

A deposit is a sum of money installed by the customer in an account with a bank wherein the bank keeps the deposit and invests it to achieve returns on the deposit amount over a certain period of time. The customer has the right to recover the initial deposit amount after the period specified in the deposit contract.

Investment Fund on the other hand, is a common investment tool that allows clients’ finances to be invested in order to achieve profits. The fund is managed by a manager specialized in this role (for a set fee). The investment fields of these funds vary, and may include stocks, bonds, commodities, money markets, and others. (The investment funds of banks are subject to the supervision and licensing of the Capital Markets Authority).

Investment Savings Accounts

A savings account is an account in which the customer deposits the amounts they wish to save at a bank, with the bank investing the amount and depositing its returns into the same account after a specific period of time. The difference between an investment savings account and a deposit, is that clients can typically withdraw and deposit into the account at any given time.

Furthermore, AlNassar pointed that Gulf Bank’s WISE Investments is a digital investment platform that provides many investment advantages in global markets safely, easily, transparently, and at relatively low cost. WISE Investments enables investors to achieve their investment and saving goals through a service which customizes investment portfolios for clients based on their financial goals and allows clients to access their investments anywhere, and anytime, assisting investors in attaining their financial goals and growing their wealth.

Moreover, AlNassar mentioned that Gulf Bank also provides customers with the option of opening and depositing into an AlDanah account, the most rewarding savings account in Kuwait since 1998. Gulf Bank’s AlDanah account offers monthly opportunities to win KD 1,000 to ten lucky winners, in addition to two quarterly draws with KD 100,000 prizes each, a semi-annual draw prize of KD 1 million and a grand draw prize of KD 2 million. Additionally, he noted that last chance and date to deposit and participate in the annual grand draw is September 30, 2023.

Gulf Bank's vision is to be the leading Kuwaiti Bank of the Future. The Bank is constantly engaging and empowering its employees as part of an inclusive and diversified workplace in recognition of every employee’s role in delivering customer excellence and serving the community at large. With its extensive network of branches and innovative digital services, Gulf Bank is able to give its customers the choice of how and where to conduct their banking transactions, all while ensuring a simple and seamless banking experience.

Gulf Bank is committed to maintaining robust developments in sustainability at environmental, social and governance levels through diverse sustainability initiatives, strategically selected to benefit the Bank both internally and externally. Gulf Bank supports Kuwait Vision 2035 “New Kuwait” and works with various parties to achieve it.