National Bank of Kuwait (NBK) CEO Salah Al Fulaij said recently that the Kuwait National Petroleum Company's (KNPC) Clean Fuels Project is a boost for the local economy and elevates Kuwait's standing in the global arena.
Al Fulaij said that NBK’s noteworthy reputation, professionalism and credibility are confirmed through the company’s involvement with the project during a signing ceremony for project financing at KNPC headquarters.
“The Clean Fuels Project represents a remarkable boost for the prospects of the Kuwaiti economy, reflecting the government's commitment to continue with the execution of its development plan despite the drop in oil prices,” Al Fulaij said.
During the signing ceremony, Al Fulaij also commended Kuwait’s banking sector for its role in the positive development and trustworthiness of Kuwait’s financial industry following its current economic recovery. The banking system was able to provide funding despite the tough economic atmosphere, speaking to the efficiency of the sector and the depth of financial expertise of its leaders.
“NBK has a long history in arranging and leading mega financing deals in Kuwait and the region,” Al Fulaij said.
Kuwait’s banking industry benefits from high liquidity, which permits it to support more efficient implementation of infrastructure projects, resulting in the betterment of the national economy and maintaining Kuwait’s strong banking reputation regional and throughout the globe.