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Gulf Bank enters partnership with Transcrate International Logistics

By Delisha Fernandes

September 27, 2023

  • Banking Services
  • Banking transactions
  • digital services

Gulf Bank, Transcrate International Logistics, SMEs, banking services, digital services, banking transactions, FinTech news, FinTech KuwaitGulf Bank has entered into a strategic partnership with Transcrate, an international logistics company, to provide its premium services to the Bank’s SMEs customers at discounted rates.

This move is a part of its ongoing efforts to support Small and Medium Enterprises (SMEs), Transcrate International Logistics will provide Gulf Bank’s SMEs customers with a range of services that would help them expand their businesses, meet the requirements of their customers, and carry out shipping, customs clearance, and logistics services.

Faisal Al-Adsani, Gulf Bank’s General Manager of Corporate Banking, said, “This agreement is part of Gulf Bank’s 2025 strategy, which considers the SMEs sector as one of its main pillars. The Bank aims to increase the growth rates of corporate services and help them expand their portfolio of products and banking services.”

Al-Adsani added, “Gulf Bank is always striving to enhance non-banking services for SMEs, to help them operate their business successfully, without having to invest in the purchasing, renting, managing stand-alone warehouses, or hire a specialized team to manage clearance, delivery and inventory transportation.”

SMEs play an important role in diversifying the Kuwaiti economy, creating job opportunities and raising the value of entrepreneurship. Hence, Gulf Bank aims to provide the necessary support in accordance with the Bank’s policies, to promote sustainable growth in SMEs, and the national economy as a whole.

Ahmad Al-Qenaei from Transcrate International Logistics, said, “We are delighted to enter this important partnership with Gulf Bank, one of the leading banks in Kuwait, and to provide our services to its SMEs customers. This would help them expand their business and activities both internally and externally, in addition to facilitating all their logistics requirements. It is part of our company’s goals to educate customers and complete their requests in a timely manner, to help them reach their goals.”

With its extensive network of branches and innovative digital services, Gulf Bank is able to give its customers the choice of how and where to conduct their banking transactions, all while ensuring a simple and seamless banking experience. Gulf Bank is committed to maintaining robust developments in sustainability at environmental, social and governance levels through diverse sustainability initiatives, strategically selected to benefit the Bank both internally and externally.

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