The Industrial Bank of Kuwait (IBK) was established in 1973 in the Kuwait through a government initiative.[1] It specializes in providing financial support for the Kuwaiti industrial sector.
History
It was founded by the government of Kuwait in partnership with private sector institutions to support the country's development and enhance the international competitiveness of Kuwaiti companies. In its initial phase, being the first bank in the Gulf Cooperation Council region to specialize in industrial development, IBK's main focus was to provide medium to long-term financing for industrial projects.[2] Currently, majority of the bank’s shares are owned by the public authorities,[3] including the Ministry of Finance, the Central Bank of Kuwait, and the Public Institution of Social Security.[4]