KIB participates in nationwide “Motawer” fintech innovation program

As part of its commitment to advancing financial innovation, empowering emerging talent, and supporting the advancement of the national economy, Kuwait International Bank (KIB) announced its participation in the Motawer Program, the first national initiative dedicated to supporting innovation in financial technology (fintech) across Kuwait. The program is presented by the Kuwait Banking Association (KBA) under the guidance and support of the Central Bank of Kuwait (CBK).

As part of the program’s activities, Khalid Al-Sumait, Executive Manager – Core Digital Factory at KIB, recently took part as a speaker in one the training sessions and workshops, where he presented several key pillars related to building effective partnerships between banks and fintech startups.

The session focused on partnerships between banks and fintech companies, emphasizing the importance of clearly defining the problem and the genuine need addressed by technological solutions. It also highlighted effective mechanisms for managing partnerships and navigating the various stages of collaboration. In addition, the session explored different partnership models used in the financial sector and the partnership lifecycle from ideation and planning to execution and scaling, underscoring the importance of testing technological solutions through pilot exercises and systematically evaluating outcomes before moving to broader implementation to ensure sustainable value creation for both parties.

Commenting on his participation, Al-Sumait said: “Being involved with Motawer was a truly enriching experience. It provided an open, interactive platform for exchanging insights and ideas, and for exploring opportunities for constructive collaboration between banks and fintech companies, from developing a clear understanding of challenges and solutions to the practical testing and development of scalable, implementable solutions.

He highlighted that: “What makes Motawer unique is its ability to translate innovation into action. It doesn’t stop at ideas, but equips participants with the mindset, tools, and mentorship needed to turn ambition into tangible outcomes. This is essential for accelerating the maturity of the fintech ecosystem in Kuwait.”

Al-Sumait further emphasized the importance of institutional collaboration, emphasizing that: “The strong support of the Central Bank of Kuwait and the Kuwait Banking Association reflects a clear national direction toward innovation and digital progress. Such collaboration sends a powerful message about Kuwait’s readiness to embrace future financial models and strengthen cooperation between banks and fintech innovators.”

The nationwide Motawer fintech challenge is designed to nurture local talent and unlock innovative potential within the financial sector. The four-month intensive program offers participants access to expert-led workshops, personalized mentorship, and collaborative sessions with industry specialists from Kuwait and abroad. Beyond financial rewards totaling KWD 60,000, the program delivers long-term value by equipping participants with the skills and confidence needed to transform ideas into viable market solutions.

The initiative has witnessed strong engagement, highlighting the creativity and ambition of Kuwaiti youth and reinforcing optimism about the future of fintech leadership in the country. The program includes two tracks: one dedicated to individuals and startups with early-stage ideas, and another designed for advanced projects seeking further development and scalability.

Through participating in initiatives such as Motawer, KIB continues to advance the Central Bank of Kuwait’s vision of fostering innovation, supporting digital transformation, and promoting economic diversification. The Bank remains committed to supporting initiatives that drive innovation, empower talent, startups and entrepreneurs, and contribute to shaping a sustainable and competitive financial future for Kuwait.