Kuwait: In continued efforts to address the different market segments’ needs, Burgan Bank recently announced the launch of its revamped and upgraded Youth interest-bearing savings account, designed around the evolving lifestyles and aspirations of Kuwaiti high school and university students, aged 15 to 25. The launch of the all-new Youth account is a testament to Burgan’s unwavering commitment to serving all groups of its community through tailoring and developing innovative products and services to meet their ever-changing needs.

“Today’s youth are tomorrow’s leaders, that’s why it is crucial that we provide them with the proper financial tools that enable them to practice the responsibility of managing their finances soundly and wisely at an early age,” said Mr. Nasser Al-Qaisi, General Manager – Retail Banking at Burgan Bank. “Our Youth account centers on the evolving needs and lifestyles of today’s young adults, whereby every account feature stems from our insights about this dynamic market segment. With this revamped product, we aim to raise our youths’ financial literacy and banking awareness in an engaging and rewarding way, and, most importantly, encourage them to adopt the saving culture.”

Opening a Youth account requires its applicants to transfer their student allowance to it, noting that no minimum deposit value is mandated for opening the account or for it to start yielding interest. Upon opening the account, young account holders can enjoy a wide range of year-long tailored benefits, exclusive offers, promotions, and events. Among the special benefits that Youth account holders can enjoy are a KD 100 cash gift upon student allowance transfer, a referral-based rewards program, and an annual draw to win a car. Furthermore, Youth account customers are eligible for a VIP Mastercard prepaid that’s free of charge for the first year.

Burgan’s Youth account is in tune with the Bank’s efforts to raise financial literacy and spread banking awareness amongst its customers and the different groups of society. In addition to motivating more customers to adopt the saving culture, the Bank also continues to share valuable information about the safest and most secure banking practices. This comes as part of its ongoing support of the “Let’s Be Aware” (Diraya) banking awareness campaign, which was launched by the Central Bank of Kuwait (CBK) and the Kuwait Banking Association (KBA) in cooperation with Kuwaiti banks.

Stemming from its institutional philosophy, “Driven by You”, Burgan Bank continues to innovate new banking products and services that respond to the ever-changing market needs and growing aspirations of its various segments. This includes the Al Rateb salary account, which earns its customers a cash gift of up to KD 2,000 upon salary transfer, the flagship draw and savings Kanz account as well as the awal savings account for children up to 14 years of age.

About Burgan Bank

Established in 1977, Burgan Bank is a Kuwait-based conventional bank with a significant focus on the corporate and financial institution sectors. From its earliest days, the Bank has significantly sought to diversify its offering to cater to its growing retail and private banking customer base.

Burgan Bank has majority-owned subsidiaries, collectively known as the “Burgan Bank Group”, in the MENAT region. This Group is supported by one of the largest branch networks across the region and includes: Gulf Bank Algeria – AGB (Algeria), Tunis International Bank – TIB (Tunisia), and Burgan Bank Turkey. Furthermore, Burgan Bank has a presence in the UAE through its corporate office, Burgan Financial Services Limited.

The Bank has continuously improved its performance over the years, through an expanded revenue structure, diversified funding sources, and a strong capital base. The adoption of state-of-the-art services and technology has positioned it as a trendsetter in the domestic market and within the MENA region. Moreover, Burgan Bank’s brand has been built on a foundation of real values – trust, commitment, excellence, and progression – which serve as a reminder of the high standards to which the Bank always aspires. In fact, the Bank’s core philosophy of ‘Driven by You’ is the foundation on which its products and services are continuously developed.

The Bank obtained the ISO/IEC 27001: 2022 Information Security Management Systems certificate (ISMS), ISO /IEC 27701:2019 Privacy Information Management Systems (PIMS), ISO/IEC 20000-1: 2018 Information Technology Service Management System (ITSMS) and was re-certified with the prestigious ISO 9001:2015 Quality Management System (QMS), making it one of the few banks in the GCC and Kuwait to receive such certification for five consecutive times. The Bank also has the distinction of being the only Bank in Kuwait to have won the JP Morgan Chase Quality Recognition Award for twenty consecutive years. Moreover, in a testament to its dedication to the development of its human capital, Burgan Bank is the first bank in Kuwait to be certified as a Great Place to Work®, earning the distinct honor in 2023.

Burgan Bank is a majority-owned subsidiary of KIPCO (Kuwait Projects Company), one of the largest holding companies in the MENA region.