2 days ago
KIB announces Municipal Council's approval of its initiative to beautify and develop Darwaza Al-Abdulrazzaq Tunnel
Kuwait International Bank (KIB) announced that the Municipal Council has approved its initiative to carry out the beautification and development of 'Darwaza Al-Abdulrazzaq', fully funded by the Bank. This step reflects KIB's steadfast commitment to its national and social responsibility, as part of the Kuwaiti private sector, and its keenness to actively contribute to projects that enhance Kuwait's urban landscape and serve the public Al-Abdulrazzaq is a vital landmark in the heart of Kuwait City. This gives it particular significance in terms of pedestrian movement and business activity. The site also carries historical value, reflecting the architectural heritage of the city, making its development a truly national project that reinforces the features of Kuwaiti on this occasion, KIB Vice Chairman and CEO, Raed Jawad Bukhamseen, said: 'We are pleased to announce the esteemed Municipal Council's approval of KIB's initiative to develop Darwaza Al-Abdulrazzaq. This initiative reflects the Bank's vision of supporting projects that serve the community and enhance the quality of life in Kuwait. It stems from our deep belief in the vital role the private sector plays in supporting the State's efforts, whether through planning, implementation, or funding, which we view as a fundamental aspect of our national responsibility. The significance of this project goes beyond urban beautification. It also represents a meaningful contribution to preserving Kuwait's historical landmarks and reinforcing their presence in daily life, underscoring our commitment to promoting and preserving national identity.' Bukhamseen added: 'This initiative aligns directly with KIB's vision of promoting both social and economic growth by supporting efforts that contribute to creating a better urban environment and reflecting the cultural image of our city. With its symbolic location and rich history, Darwaza Al-Abdulrazzaq deserves to be revitalized and restored to its role as a city landmark'. He also noted that KIB has expressed its full readiness to cover all costs associated with the project, including contracting with specialized companies and consultancy firms to ensure the highest standards of quality under the direct supervision of the esteemed relevant official emphasized the importance of public-private partnerships in driving development forward, stating: 'At KIB, we believe that our responsibility extends beyond providing financial services. It includes supporting State efforts on all fronts. This initiative is a clear embodiment of that role and a reaffirmation that the private sector is a key partner in comprehensive development.'Boukhamseen extended his sincere thanks and appreciation to His Excellency the Minister of State for Municipal Affairs and Minister of State for Housing Affairs, Mr. Abdul Latif Hamed Hamad Al-Mashari, for his generous support and constructive cooperation, which had a significant impact in advancing this project forward. He also expressed his deep gratitude to the esteemed Council of Ministers for their continued support and endorsement of purposeful initiatives that serve the interests of the nation and its concluded his remarks saying: 'We are proud of KIB getting the approval for this initiative and look forward to launching the project soon in full coordination with the relevant government authorities, foremost among them the Kuwait Municipality. We believe this project will be a point of interest for the entire Kuwaiti society and serve as a testament to KIB's ongoing dedication to supporting sustainable growth and national prosperity.'
It is worth noting that KIB continues to strengthen its role as a committed national partner in community development through initiatives that extend their impact across various aspects of public life. The Bank affirms that social contribution is not a choice, but a national duty that requires the concerted efforts of all.
