From the trading hall to the pinnacle of digital innovation: Boursa Kuwait and Markaz empower Kuwaiti youth with UNICODE
Boursa Kuwait and the Kuwait Financial Centre 'Markaz' continued their strategic partnership with CODED Academy, sponsoring the fifth edition of the Academy's UNICODE Program, which targets over 300 university students and recent graduates across three cohorts from August to October 2025.The program, hosted by Boursa Kuwait at its premises, aims to equip participants with essential coding and programming skills, thereby enhancing their readiness to compete in the rapidly evolving digital job market. It features specialized training tracks in cybersecurity as well as mobile application and web development, offering participants a wide range of potential career pathways. Since its inception in 2021, the program has benefited over 750 students from diverse academic disciplines.The UNICODE Program's fifth edition will commence on August 9 and is comprised of three intensive two-week training cohorts, culminating in a graduation ceremony to be held in November. Participants will undergo hands-on training in a range of essential technical skills, including website development using HTML, CSS, and JavaScript, mobile application development using the Flutter platform as well as foundational cybersecurity and digital safety practices.'Boursa Kuwait firmly believes that investing in human capital is the cornerstone of any meaningful development and that Kuwaiti youth are the driving force behind a sustainable future,' said Mr. Naser Al-Sanousi, Boursa Kuwait's Senior Director of Marketing and Communication.'Our strategic partnership with CODED Academy, along with our sponsorship and hosting of the UNICODE Program, reflects this belief, reaffirming our commitment to initiatives that bridge the gap between academic knowledge and the evolving needs of the Kuwaiti labor market. These efforts are also an embodiment of Boursa Kuwait's strategic commitment to building a knowledge-based society capable of driving digital transformation and enhancing national competitiveness,' he added.Boursa Kuwait will host the program's workshops and interactive training sessions at its headquarters, which has been equipped with state-of-the-art facilities designed to offer students a stimulating learning environment that mirrors real-world professional settings and inspires them to explore promising career opportunities in the financial sector. 'Boursa Kuwait is proud to host UNICODE at its premises, reinforcing the connection between program participants and capital markets,' Al-Sanousi said.This year's edition of the program introduces enhanced content through the integration of financial technology (FinTech) and artificial intelligence concepts across all training tracks, an approach that reflects Boursa Kuwait's strategic focus on innovation as a key driver of sustainable development. The program also aims to empower participants to devise practical solutions to the contemporary challenges of the financial sector, expanding their professional horizons and supporting their long-term career growth.'The fifth edition of this program serves as an effective bridge between academic aspirations and practical application in the workplace, representing a true launchpad for innovation. By supporting this initiative, we aim to help prepare a generation equipped with the skills and capabilities to drive Kuwait's economic growth and support its efforts for diversification. I would like to extend my sincere appreciation to CODED Academy for its instrumental role in nurturing young talent and enhancing their skills, and I wish all participants continued success in their pursuit of excellence and innovation,' added Al-Sanousi.The strategic partnership between Boursa Kuwait and 'Markaz' with CODED Academy and sponsorship of its UniCODE program forms part of both companies' efforts to develop and educate Kuwaiti society and create a lasting meaningful impact on the communities where they operate. Part of their Corporate Sustainability (CS) strategies, the initiative is also in line with Goal 4 – Quality Education – and Goal 17 – Partnership for the Goals - of the UN's Sustainable Development Goals (SDGs).Senior Vice President of Wealth Management and Business Development Ms. Maryam Al-Rifae also spoke about the partnership with CODED Academy, stating, 'Markaz takes great pride in being one of the earliest supporters of CODED Academy since its inception. This marks our fourth sponsorship of the academy's initiatives since 2019, a commitment that underscores our dedication to fostering innovation and entrepreneurship in Kuwait. It also reflects our broader vision of empowering youth to pursue promising fields such as programming and coding, while reinforcing our belief in human capital development as a cornerstone of our corporate social responsibility strategy.'She added, 'Technology has become an essential part of everyday life, and we have a responsibility as institutions to nurture this shift by cultivating an environment conducive to the growth of start-ups and the development of competitive, homegrown tech solutions. A recent McKinsey report found that supporting educational tech initiatives like the UNICODE program can boost youth employment opportunities by up to 50%, which is a compelling validation of the program's impact and importance.''We are proud to collaborate with Boursa Kuwait on this initiative that reflects our shared commitment to empowering Kuwaiti youth, equipping them for digital transformation and helping them adapt to the fast-evolving demands of today's job market. At Markaz, we firmly believe that institutional partnerships are essential to driving inclusive development, led by a generation armed with knowledge, skills and a spirit of innovation," Al-Rifae said.The Kuwait Financial Centre 'Markaz' was established in 1974 and is one of the first financial institutions in Kuwait to offer asset management and investment banking services in the Middle East and North Africa. Listed on Boursa Kuwait since 1997, it currently manages assets worth KD 1.44 billion (equivalent to USD 4.67 billion) as of March 31, 2025.CODED Academy Co-Founder and Chief Operating Officer Mr. Hashim Behbehani expressed his heartfelt gratitude to Boursa Kuwait and the Kuwait Financial Centre 'Markaz' for their continued support of the Academy and generous sponsorship of the Unicode Program, emphasizing that this strategic collaboration reflects a shared commitment to empowering Kuwaiti youth and cultivating a new generation of highly skilled tech professionals.'We are proud to launch a new edition of the Unicode Program, purposefully designed to equip participants with the most in-demand technical skills in today's job market,' he said. 'This year's curriculum places a strong emphasis on practical, hands-on training in fintech and cybersecurity, offering an immersive learning experience aligned with the dynamic needs of the labor market.''Hosting the program at Boursa Kuwait provides participants with an immersive environment that elevates their learning journey and reinforces the program's growing reputation as a vital step in their career development. CODED Academy remains committed to offering practical, high-quality training that aligns with the aspirations and ambitions of today's students,' added Behbehani.Founded in 2015, CODED Academy is the first coding academy in the Middle East, educating participants in software development, cybersecurity, data science and artificial intelligence, enabling the youth to navigate the evolving demands of a competitive job market and enter the workforce with confidence and readiness.Boursa Kuwait's Corporate Sustainability strategy stipulates ensuring initiatives apply and fall in line with the company's corporate social responsibility (CSR), industry best practice standards, and investor expectations, creating strong and sustainable partnerships that ultimately achieve success and allow Boursa Kuwait to leverage the capabilities and strengths of other companies or organizations that have experience in different fields, and integrating sustainability efforts with the company culture, to achieve longevity and ongoing impact that is carried on and instilled in the day-to-day operations of the stock exchange.
As part of the strategy, Boursa Kuwait has launched many initiatives in partnership with local and international organizations, focusing on support for nongovernmental organizations and charity programs, financial literacy and capital market awareness, the empowerment of women, and environmental protection.
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Al Bawaba
17 hours ago
- Al Bawaba
From the trading hall to the pinnacle of digital innovation: Boursa Kuwait and Markaz empower Kuwaiti youth with UNICODE
Boursa Kuwait and the Kuwait Financial Centre 'Markaz' continued their strategic partnership with CODED Academy, sponsoring the fifth edition of the Academy's UNICODE Program, which targets over 300 university students and recent graduates across three cohorts from August to October program, hosted by Boursa Kuwait at its premises, aims to equip participants with essential coding and programming skills, thereby enhancing their readiness to compete in the rapidly evolving digital job market. It features specialized training tracks in cybersecurity as well as mobile application and web development, offering participants a wide range of potential career pathways. Since its inception in 2021, the program has benefited over 750 students from diverse academic UNICODE Program's fifth edition will commence on August 9 and is comprised of three intensive two-week training cohorts, culminating in a graduation ceremony to be held in November. Participants will undergo hands-on training in a range of essential technical skills, including website development using HTML, CSS, and JavaScript, mobile application development using the Flutter platform as well as foundational cybersecurity and digital safety practices.'Boursa Kuwait firmly believes that investing in human capital is the cornerstone of any meaningful development and that Kuwaiti youth are the driving force behind a sustainable future,' said Mr. Naser Al-Sanousi, Boursa Kuwait's Senior Director of Marketing and Communication.'Our strategic partnership with CODED Academy, along with our sponsorship and hosting of the UNICODE Program, reflects this belief, reaffirming our commitment to initiatives that bridge the gap between academic knowledge and the evolving needs of the Kuwaiti labor market. These efforts are also an embodiment of Boursa Kuwait's strategic commitment to building a knowledge-based society capable of driving digital transformation and enhancing national competitiveness,' he Kuwait will host the program's workshops and interactive training sessions at its headquarters, which has been equipped with state-of-the-art facilities designed to offer students a stimulating learning environment that mirrors real-world professional settings and inspires them to explore promising career opportunities in the financial sector. 'Boursa Kuwait is proud to host UNICODE at its premises, reinforcing the connection between program participants and capital markets,' Al-Sanousi year's edition of the program introduces enhanced content through the integration of financial technology (FinTech) and artificial intelligence concepts across all training tracks, an approach that reflects Boursa Kuwait's strategic focus on innovation as a key driver of sustainable development. The program also aims to empower participants to devise practical solutions to the contemporary challenges of the financial sector, expanding their professional horizons and supporting their long-term career growth.'The fifth edition of this program serves as an effective bridge between academic aspirations and practical application in the workplace, representing a true launchpad for innovation. By supporting this initiative, we aim to help prepare a generation equipped with the skills and capabilities to drive Kuwait's economic growth and support its efforts for diversification. I would like to extend my sincere appreciation to CODED Academy for its instrumental role in nurturing young talent and enhancing their skills, and I wish all participants continued success in their pursuit of excellence and innovation,' added strategic partnership between Boursa Kuwait and 'Markaz' with CODED Academy and sponsorship of its UniCODE program forms part of both companies' efforts to develop and educate Kuwaiti society and create a lasting meaningful impact on the communities where they operate. Part of their Corporate Sustainability (CS) strategies, the initiative is also in line with Goal 4 – Quality Education – and Goal 17 – Partnership for the Goals - of the UN's Sustainable Development Goals (SDGs).Senior Vice President of Wealth Management and Business Development Ms. Maryam Al-Rifae also spoke about the partnership with CODED Academy, stating, 'Markaz takes great pride in being one of the earliest supporters of CODED Academy since its inception. This marks our fourth sponsorship of the academy's initiatives since 2019, a commitment that underscores our dedication to fostering innovation and entrepreneurship in Kuwait. It also reflects our broader vision of empowering youth to pursue promising fields such as programming and coding, while reinforcing our belief in human capital development as a cornerstone of our corporate social responsibility strategy.'She added, 'Technology has become an essential part of everyday life, and we have a responsibility as institutions to nurture this shift by cultivating an environment conducive to the growth of start-ups and the development of competitive, homegrown tech solutions. A recent McKinsey report found that supporting educational tech initiatives like the UNICODE program can boost youth employment opportunities by up to 50%, which is a compelling validation of the program's impact and importance.''We are proud to collaborate with Boursa Kuwait on this initiative that reflects our shared commitment to empowering Kuwaiti youth, equipping them for digital transformation and helping them adapt to the fast-evolving demands of today's job market. At Markaz, we firmly believe that institutional partnerships are essential to driving inclusive development, led by a generation armed with knowledge, skills and a spirit of innovation," Al-Rifae Kuwait Financial Centre 'Markaz' was established in 1974 and is one of the first financial institutions in Kuwait to offer asset management and investment banking services in the Middle East and North Africa. Listed on Boursa Kuwait since 1997, it currently manages assets worth KD 1.44 billion (equivalent to USD 4.67 billion) as of March 31, Academy Co-Founder and Chief Operating Officer Mr. Hashim Behbehani expressed his heartfelt gratitude to Boursa Kuwait and the Kuwait Financial Centre 'Markaz' for their continued support of the Academy and generous sponsorship of the Unicode Program, emphasizing that this strategic collaboration reflects a shared commitment to empowering Kuwaiti youth and cultivating a new generation of highly skilled tech professionals.'We are proud to launch a new edition of the Unicode Program, purposefully designed to equip participants with the most in-demand technical skills in today's job market,' he said. 'This year's curriculum places a strong emphasis on practical, hands-on training in fintech and cybersecurity, offering an immersive learning experience aligned with the dynamic needs of the labor market.''Hosting the program at Boursa Kuwait provides participants with an immersive environment that elevates their learning journey and reinforces the program's growing reputation as a vital step in their career development. CODED Academy remains committed to offering practical, high-quality training that aligns with the aspirations and ambitions of today's students,' added in 2015, CODED Academy is the first coding academy in the Middle East, educating participants in software development, cybersecurity, data science and artificial intelligence, enabling the youth to navigate the evolving demands of a competitive job market and enter the workforce with confidence and Kuwait's Corporate Sustainability strategy stipulates ensuring initiatives apply and fall in line with the company's corporate social responsibility (CSR), industry best practice standards, and investor expectations, creating strong and sustainable partnerships that ultimately achieve success and allow Boursa Kuwait to leverage the capabilities and strengths of other companies or organizations that have experience in different fields, and integrating sustainability efforts with the company culture, to achieve longevity and ongoing impact that is carried on and instilled in the day-to-day operations of the stock exchange. As part of the strategy, Boursa Kuwait has launched many initiatives in partnership with local and international organizations, focusing on support for nongovernmental organizations and charity programs, financial literacy and capital market awareness, the empowerment of women, and environmental protection.
Al Bawaba
a day ago
- Al Bawaba
KIB promotes financial awareness and banking literacy among visitors of Assima Mall through its interactive booth
Kuwait International Bank (KIB) launched an on-ground initiative to promote financial awareness through its dedicated booth at Assima Mall, as part of its ongoing efforts to support the 'Let's Be Aware' (Diraya) campaign launched by the Central Bank of Kuwait (CBK) and the Kuwait Banking Association (KBA), in cooperation with local a reflection of its commitment to promoting banking literacy across all segments of society, KIB's booth offered an interactive experience for mall visitors, allowing them to access valuable financial information and guidance in a simplified and comprehensive on the occasion, Mariam Al-Nasser, Head of Branches and Premier Banking at KIB, said: 'Our presence at Assima Mall reflects our ongoing commitment to direct engagement with the community and to promoting financial empowerment, especially amid the growing use of digital banking services. Through our participation in the 'Let's Be Aware' campaign, we are keen to deliver meaningful awareness messages that help enhance individuals' financial literacy, introduce them to our banking products and solutions, and inform them of the best ways to protect their personal data.'She added: 'Our booth saw strong engagement from visitors, as we focused on offering tips to help avoid financial fraud, encouraging smart saving habits, and promoting the safe use of digital services, especially given the growing reliance on digital platforms. We also made it a point to engage with diverse groups such as youth and families, helping them understand how banking services are intertwined with their daily lives and financial futures. The booth also provided an opportunity for visitors to learn about the principles of Islamic finance, the benefits of saving and investing, and how to build a secure financial future. Additionally, we showcased a range of KIB's innovative, Sharia-compliant solutions designed to help customers achieve their financial goals and meet their ongoing needs.' It is worth noting that KIB continues to strengthen its role as a trusted financial partner through its ongoing commitment to banking awareness and the launch of community initiatives aimed at building a secure financial environment. These efforts align with the Bank's comprehensive corporate social responsibility strategy and support the goals of the 'Let's Be Aware' campaign, reflecting its continued dedication to being a true 'Bank for Life.'
Al Bawaba
4 days ago
- Al Bawaba
Nearly Half of Companies in the UAE Opt to Pay the Ransom, Sophos Report Finds
Sophos, a global leader of innovative security solutions for defeating cyberattacks, today released its sixth annual State of Ransomware report, a vendor-agnostic survey of IT and cybersecurity leaders across 17 countries that studies the impact of ransomware attacks on businesses. This year's survey found that nearly 50% of companies globally paid the ransom to get their data back – the second highest rate of ransom payment for ransom demands in six years. While 43% of organizations in the UAE that had data encrypted paid the ransom, 30% of them paid less than the original demand. Globally, in 71% of cases where the companies paid less, they did so through negotiation – either through their own negotiations or with help from a third party. In fact, while the median global ransom demand dropped by a third between 2024 and 2025, the median global ransom payment dropped by 50%, illustrating how companies are becoming more successful at minimizing the impact of the median ransom payment in the UAE was 1.33 million dollars, although the initial demand varied significantly depending on organization size and revenue. Across the globe, the median ransom demand for companies with over $1 billion in revenue was five million dollars, while organizations with $250 million revenue or less, saw median ransom demands of less than $350, vulnerabilities were the number one technical root cause of attacks in the UAE, while 49% of ransomware victims said adversaries took advantage of a security gap that they were not aware of – highlighting organizations' ongoing struggle to see and secure their attack surface. Overall, 54% of UAE organizations said resourcing issues were a factor in them falling victim to the attack, with one third citing a lack of expertise and 30% reporting a shortage of the report reveals that the impact of ransomware attacks on data in the UAE remains significant. In 55% of the attacks, data was successfully encrypted, surpassing the global average (50%). In 43% of those cases, data was also stolen, much higher than the 28% global rate. Despite this, 98% of affected organizations recovered their data, with 68% using backups and 43% opting to pay the ransom, highlighting both strong recovery strategies and ongoing challenges. 'For many organizations, the chance of being compromised by ransomware actors is just a part of doing business in 2025. The good news is that, thanks to this increased awareness, many companies are arming themselves with resources to limit damage. This includes hiring incident responders who can not only lower ransom payments but also speed up recovery and even stop attacks in progress,' says Chester Wisniewski, director, field CISO, Sophos.'Of course, ransomware can still be 'cured' by tackling the root causes of attacks: exploited vulnerabilities, lack of visibility into the attack surface, and too few resources. We're seeing more companies recognize they need help and moving to Managed Detection and Response (MDR) services for defense. MDR coupled with proactive security strategies, such as multifactor authentication and patching, can go a long way in preventing ransomware from the start.' Additional Key UAE Findings from the State of Ransomware 2025 Report: • Exploited vulnerabilities were the most common technical root cause of attack, used in 42% of attacks. They are followed by malicious emails, which were the start of 23% of attacks. Compromised credentials were used in 18% of attacks • Business impact of ransomware- Excluding any ransom payments, the average (mean) bill incurred by organizations in the UAE to recover from a ransomware attack in the last year came in at $1.41 million, below the $1.53 million global average. This includes costs of downtime, people time, device cost, network cost, lost opportunity, etc. - Organizations in the UAE recovered swiftly from ransomware attacks, with 63% fully recovered up to a week, notably above the 53% global average. 15% took between one and six months to recover, below the 18% global average. • Human impact of ransomware on IT/cybersecurity teamsIn organizations where data was encrypted:- 40% reported increased pressure from senior leaders.- 37% say the team's workload has increased since the attack.- 42% report increased anxiety or stress about future attacks. - 18% have experienced team member absence due to stress/mental health remains a major threat to organizations in the UAE. As adversaries continue to iterate and evolve their attacks, it's essential that defenders and their cyber defenses keep pace. Sophos recommends the following best practices to help organizations defend against ransomware and other cyberattacks:• Take steps to eliminate common technical and operational root causes of attacks, such as exploited vulnerabilities. Tools like Sophos Managed Risk can help companies access their risk profile and minimize their exposure.• Ensure all endpoints (including servers) are well-defended with dedicated anti-ransomware protection.• Have an incident response plan in place and tested for when things go wrong. Have good backups and practice restoring data regularly.• Companies need around-the-clock monitoring and detection. If they do not have the resources in-house for this, they can work with a trusted managed detection and response (MDR) for the State of Ransomware 2025 report comes from a vendor-agnostic survey of 3,400 IT and cybersecurity leaders in organizations that were hit by ransomware in the previous year. Organizations surveyed ranged from 100 – 5,000 employees and across 17 survey was conducted between January and March 2025, and respondents were asked about their experience of ransomware over the previous 12 months. Sophos will be releasing additional industry findings throughout the year. © 2000 - 2025 Al Bawaba (
