Haethum Buttikhi
CEO of Jordan Kuwait Bank
Haethum Buttikhi

Q:  The Jordan Kuwait bank was the first region’s bank to launch contactless biometric cards using Thales tech. What have been the other key achievements and evolution of the Jordan Kuwait Bank in recent years?

We’re a 45-year-old bank now and we have around 67 branches. Historically, we looked more at the corporate side of lending element and many higher end salary customers on the private sector domain. We decided that back maybe in 2018, and prior to that, maybe even that we needed to diversify more into the retail and SME sector. As you know, Jordan has quite a bit of challenges on the employment side. And today, the SME sector is really the largest in terms of number of companies in terms of being the largest employer and we thought that we needed to tap into that market for more than one reason, one being a diversified portfolio, and two as well being an active, positive influencer to the economy.

Earlier this year, we signed an agreement with the EIB (European Investment Bank) where we took a facility of around $120 million that would be utilized for lending to the SME sectors and in specific sectors that were negatively affected by COVID to have a more sort of active role in trying to push back the economy. So contactless and other digital products, I think, are the way forward in terms of evolving and moving towards a more customer centric, seamless customer experience.

We’re completely revamping our mobile banking platform, our corporate banking, digital platform, and doing a significant number of investments on the digital side. But we can’t ignore the importance of the core side of lending and providing the commercial banking services to an SME sector in specific. Of course, the regulator back in the beginning of COVID, so from March, April 2020, came out with mechanisms in terms of feeding and assisting sectors with getting installments of restructuring and what have you. And we played an active role in that to try and assist customers not from defaulting during the tough lockdown periods.

 

Q: The global pandemic situation forced many businesses to get loans and credits to keep their business open after the lockdown, to get a clear view, would you share with us how the situation has been handled by the Jordan Kuwait Bank and what are the expectations for the next year?

With every challenge and negative situation, you have the silver lining for the banks, and dealing with this was the ability to grow your digital offering in all honesty. With the lockdown, people realize that they were completely cut off. And customers that didn’t really pay attention to mobile banking or doing their transfers, paying their bills, doing their corporate commercial business online. We realized that they needed to have that and quickly we had huge growth in terms of customers coming and utilizing these online services.

I think it was managed well initially. First of all, this pandemic affected the whole globe, it wasn’t only Jordan, it was everywhere, everyone saw that it was a global chaos.

At the same time, when everyone’s going crazy, there’s that sense of calm that it’s not just us it’s everyone else that is going through that problem. I think the digital side was one side, we were well pleased what position as a bank, we were the first Jordanian bank maybe 15 years ago to be acknowledged as having the best internet banking service, then continue to evolve that service. I think most banks in Jordan have done well when it comes to the digital e-channel experience. The challenge is that Jordan is a relatively limited resource country with that and the government didn’t have the ability to subsidize sectors that were closed or subsidized sectors that were affected. What was done was a fund under the management of the central bank was available to them cheap funds to assist these companies to weather the storm. But in the end, we’re lending, they were not that handout that we saw in many countries that help the economic cycle of spending going on.

 

Q: What are the other Corporate Social Responsibility actions taken to help and improve the community?

We adopted a small one, which is sort of on the way to the Dead Sea on the left-hand side over there. Jordan has some of the most southernmost pine forests in the world. Things like women empowerment and women in the workforce, whether it’s acknowledging the importance of the gender gap within the bank, and putting a target to reaching a 50% representation for the genders and addressing the importance of empowering females within the executive management and onboard representation. And going further towards segmenting and analyzing customer base because a lot of times, banks in the end, historically looking at if I’m going to lend somebody all I want to make sure is I get back and you don’t really analyze your customer base in terms of their commitment towards sustainability to the environment, to woman empowerment, to gender equality and what have you today. These are things that we start looking at and seeing that these customers are responsible customers, are responsible citizens and themselves. It takes time. But I mean, that’s something that we are starting to incorporate within the bank’s ethos as well. In terms of where we align ourselves and CSR, our main hitters are usually youth training and capacity building, health and environment so we’re one of the biggest contributors to a fund that was established a year ago to assist in easing the impact of covid on different sectors. And we continue every year to sponsor underprivileged students that don’t have the ability to pay for university and sponsor or some people that need to have attention going to hospitals.

 

Q: In which main sectors are you currently working with US and UAE companies?

There’s a lot of Emirati UAE based investments in Jordan. So today, we have a number of clients that have investments in Jordan, that deal with Jordan Kuwait Bank, rather more than us financing or having a relationship with companies that are based in the UAE, we have a few clients out of Cyprus where we assist in the UAE because I’m not allowed to lend out of Jordan. But today projects like for example, the St. Regis Hotel and residents, that’s a customer that we are their main bank. We’ve financed that from the beginning and that’s a completely UAE owned company there are others in the development side.

 

Q: What is your final message to all our readers about the Jordan Kuwait Bank benefits?

I think today, it’s extremely important in today’s world to realize that, in the end, customers want a bank that is more than just a bank. And the banks are many and plentiful and then most of them offer the same products and services. Whether it’s on the lending side, whether it’s on the trade finance side, whether it’s on the deposit side.

There are customers that are quite sensitive and look for cheaper loans. And there are customers that look for good customer service and a good customer experience. But I think more and more we’re seeing the global citizen be it corporate customer or individual customer realizing the importance of dealing with the responsible bank, the bank that is a responsible citizen, be it on the CSR side be it in terms of addressing their responsibility towards the environment, their carbon footprint, gender equality and that today in terms of the level of reporting and transparency, I think is all about it.

A responsible corporate client that wants to make their choice, would choose Jordan Kuwait Bank based on that.

 

 

 

More Information

Retrato de hombre con kufi tradicional
Mohamed Gento Kamara
Chairman and Chief Executive Officer — Gento Group of Companies (SL) Limited
Karim Nasser
Karim Nasser
Executive Chairman — Nant Power
André Snyman
André Snyman
Managing Director of Walvis Bay Salt Holdings
Edgar Byamah
Edgar Byamah
Managing Director — KCB Bank Uganda
Rhys Mbala
Rhys Mbala
Chairman, Director & Founder of Trinitas Consulting Engineers
Dr. Rudie Van Vuuren
Dr. Rudie Van Vuuren
Managing Director N/a'an ku sê Group of companies and Co-Founder N/a'an ku sê Foundation
Nazim Charania
Nazim Charania
Founder, Chairman & President — Noble Group S.A.
Maja Stevkova Shterieva
Maja Stevkova Shterieva
President, Macedonian Banking Association — North Macedonia
Svetozar Janevski
Svetozar Janevski
President of the Board of Directors Tikveš Winery — North Macedonia
Naotaka Kondo
Naotaka Kondo
Representative Director, Chairman, President & CEO, Toyo Tanso — Japan
Juliana Kagwa
Juliana Kagwa
CEO of Uganda Tourism Board (UTB)
Girma Wake
Girma Wake
CEO of Uganda Airlines
Hez Kimoomi Alinda
Hez Kimoomi Alinda
Executive Director of UFZEPA
Alberto Biamonti
Alberto Biamonti
Country Manager - Mitrelli Angola
Peter Ogwang
Peter Ogwang
Minister of State for Sports
David Bahati
David Bahati
Minister of State for Industry
Edith Nakalema
Edith Nakalema
Head of State House Investors Protection Unit (SHIPU)
Sanjay Tanna
Sanjay Tanna
Minister of Trade, Industry and Cooperatives
Fred Bamwesigye
Fred Bamwesigye
General Director of Uganda Civil Aviation Authority
James Musinguzi
James Musinguzi
Executive Director of Uganda Wildlife Authority (UWA)
Adilson Miguel dos Santos
Adilson Miguel dos Santos
Presidente do Conselho de Administração / Chief Executive Officer Angola Telecom, E.P.,
Diogo de Carvalho
Diogo de Carvalho
PCA of Infrasat
Cristina Dias Lourenço
Cristina Dias Lourenço
President of the Executive Committee / Chief Executive Officer - BODIVA (Bolsa de Dívida e...
Artur Jorge Alberto Gonçalves
Artur Jorge Alberto Gonçalves
Gerente para Operações Mineiras - Sociedade Mineira do Chitotolo
Ansar Ibraimo
Ansar Ibraimo
Chief Executive Officer, Daimic Motors
Amadeu de Jesus Alves Leitão Nunes
Amadeu de Jesus Alves Leitão Nunes
Secretário Executivo AFTTCL – Agência de Facilitação do Transporte de Trânsito do Corredor do Lobito
José Carlos Manuel de Oliveira Cunha
José Carlos Manuel de Oliveira Cunha
Chief Executive Officer, Grupo Carlos Cunha e Associados (GCC)
Vera Esperança dos Santos Daves de Sousa
Vera Esperança dos Santos Daves de Sousa
Ministra das Finanças, Ministério das Finanças
Amin Herji
Amin Herji
Presidente do Conselho de Administração Easygest-Economato, Equipamentos e Serviços
Luís Damião
Luís Damião
PCA - TECNOVIA Angola
Ramy Abdullatif
Ramy Abdullatif
Country Manager - Ericsson Angola
Gerald Green
Gerald Green
General Director Prezioso Angola, Lda. / ALTRAD Group
Wilson Ganga
Wilson Ganga
Founder & Chief Executive Officer of PayPay
H.E. Ambassador Téte António
H.E. Ambassador Téte António
Minister of Foreign Affairs
Julius Kakeeto
Julius Kakeeto
Managing Director and CEO of Pearl Bank
Francisco Pinzón
Francisco Pinzón
Chief Executive Officer - DP World Luanda
Eduardo Lira Barbosa
Eduardo Lira Barbosa
Group Chief Financial Officer / Board Member - Grupo Naval
Orlando Soares
Orlando Soares
CEO / Diretor Executivo - Step Ahead
Arlindo Das Chagas Rangel
Arlindo Das Chagas Rangel
Presidente do Conselho de Administração AIPEX – Agência de Investimento Privado e Promoção das Exportações
Jean-Yves Lunot
Jean-Yves Lunot
Country Manager - Africa Global Logistics (AGL)
Hélder Araújo
Hélder Araújo
Diretor / Membro do Conselho de Administração
Alexandre Carreira
Alexandre Carreira
PCE of NOSSA Seguros
Paulo Pizarro
Paulo Pizarro
Chairman & CEO - Novagest Serviços e Gestão S.A
Riaze Karim
Riaze Karim
Co-Founder & Chief Innovation Officer - Forefront Systems
Adam Glapinski, President of the National Bank of Poland (NBP)
Adam Glapiński
President of the National Bank of Poland (NBP)
Azhar Jaffer
Azhar Jaffer
Owner and CEO of Fairway Boutique Hotel
Hussein Khatoun
Hussein Khatoun
Founder and CEO Basel Angola (Sociedade de Detergentes)
Francisco Monteiro
Francisco Monteiro
Chief Executive Officer (CEO) & Chairman of BRIMONT
Sérgio Dias de Sousa
Sérgio Dias de Sousa
Senior Partner - SOAPRO
Erick Camargo
Erick Camargo
Director General - Afrizona
Rajbir Singh Rai
Rajbir Singh Rai
CEO of Hima Cement
Ivanilson Machado
Ivanilson Machado
Chief Executive Officer - Pumangol
António Dinis Mendes
António Dinis Mendes
Chief Executive Officer (CEO) - African Bank of Oman (ABO)
Marcelo Zoéga da Lima
Marcelo Zoéga da Lima
Country Manager – Atlas Copco Angola
Mahomed Ibrahim
Mahomed Ibrahim
Chairman of the Board (PCA) - REMAX Angola Multitrust
Jorge de Morais
Jorge de Morais
General Manager, KAESO Energy Services
Augusto Baptista
Augusto Baptista
Founder & CEO - Ohuasi Investment
Luis Saraiva
Luis Saraiva
CEO - Detudo
Agostinho da Rocha Fernandes da Silva
Agostinho da Rocha Fernandes da Silva
Presidente do Conselho de Administração (PCA) – Nova Cimangola
David Wang
David Wang
Chief Executive Officer - Ution Tecnologia Lda
Masayasu Yamashiro
Masayasu Yamashiro
President - Okinawa Financial Group
David Hanna
David Hanna
CEO - Finmo, Singapore
Imran Abbasi
Imran Abbasi
CEO of Pakistan Petroleum Limited
Ernest Enrique
Ernest Enrique
Chairman and CEO of CMS Corporation (United States – Guam Operations)
Álvaro Rey
Álvaro Rey
General Manager of InterContinental Presidente
Setsuko Hashimoto
Setsuko Hashimoto
Representative Board Director and President/CEO, CellSeed Inc
Nelson Soutinho
Nelson Soutinho
Director de Engenharia - CARMON
Vitor Santos
Vitor Santos
General Manager at Promasidor Angola
Roxanne Guerin
Roxanne Guerin
Directora-Geral - EUROSTRAL, LDA
Daniel Araujo
Daniel Araujo
CEO - Asseco
Hugo Teles
Hugo Teles
CEO at Banco BIC
Vladimir Ferraz
Vladimir Ferraz
Presidente do Conselho de Administração Banco de Comércio e Indústria (BCI)
Nuno Veiga
Nuno Veiga
CEO – Pay4All
Sebastião Vemba
Sebastião Vemba
Diretor – Economia & Mercado
Rui Miguêns de Oliveira
Rui Miguêns de Oliveira
Ministro da Indústria e Comércio
Gonçalo Soveral
Gonçalo Soveral
Sócio – Gerente da Lusocola
João Teiga
João Teiga
CEO – Orey
Salvador Muteka Tavares Emílio
Salvador Muteka Tavares Emílio
General Manager at Shoprite Angola
Nuno Nascimento
Nuno Nascimento
Vice Presidente – Lyon
Sameer Jaffer
Sameer Jaffer
General Manager at SICIE
Ulanga Gaspar Martins
Ulanga Gaspar Martins
CEO at Grupo Poliedro
Paulino Fernando de Carvalho Jerónimo
Paulino Fernando de Carvalho Jerónimo
PCA – Agência Nacional de Petróleo e Gás e Biocombustíveis
Jean-Yves Lunot
Jean-Yves Lunot
Country Manager at AGL Angola
Miguel Baptista
Miguel Baptista
Managing Director – Central, East and Southern Africa SLB
José Carlos Figueiredo
José Carlos Figueiredo
CEO – Teleservice
Abilio Almirante
Abilio Almirante
CEO – Transgás
Victor Povoa
Victor Povoa
Diretor Geral - Americanflag
Venâncio Epolua
Venâncio Epolua
CEO – G4S Angola
João Carlos Barbot
João Carlos Barbot
Administrador Delegado – Barbot Angola
Fabio Bravo da Rosa
Fabio Bravo da Rosa
PCE – Hybris Soluções
Angelo Gama
Angelo Gama
CEO da Angola Cables
Tiago Morais
Tiago Morais
General Manager - Nova Sotecma
Tomasz Dowbor
Tomasz Dowbor
CEO at Grupo Boa Vida
Frans Jol
Frans Jol
CEO – SOGESTER(Sociedade Gestora de Terminais)
Fernando Dias
Fernando Dias
PCA, Porto do Soyo
Maria Miguel Pinto
Maria Miguel Pinto
General Manager at Raxio Angola
Artur Duarte
Artur Duarte
CEO da Tranquilidade Angola
António Magalhães
António Magalhães
Director-Geral de PROMETEUS
Hélder Carreira
Hélder Carreira
Managing Partner at Tintas Toptech
Adilson Mangueira Nelumba
Adilson Mangueira Nelumba
Founder & Managing Director, Copia Group