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    Thursday,October 23,2014

    • Fajr 04:34 AM
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  • Market Indices
    Price: 9700
    Open: 970High: 980
    Low: 970Close: 970
    Volume: 1,147,755
    • Summary
      StatusIndexChange %Volume
      Market Closed6446.80 147,024,745
    • Top Gainers

      Company Chg. % Cur. Price
      NAPESCO8.77620
      SANAM8.6263
      KCIN8.161060
      HCC8.06134
      ASC6.58405
      NSH6.25170
      GGMC6.15690
      CITYGROUP6.02440
      ZIMAH5168
      RKWC4.76132
    • Top Losers
      Company Chg. % Cur. Price
      WINS-7.14130
      UREC-6.25150
      QURAINHLD-5.5634
      POULT-5.21182
      KFOUC-4.29335
      AINS-4.26450
      HITSTELEC-4.1746
      WARBABANK-3.85250
      ARKAN-3.28118
      MASHAER 3-3.26178.533997
    • By Volume
      Company Volume Price
      GFH`R31,107,87532.50
      COAST`R9,660,23382
      ABYAAR`R8,665,38543.50
      KFIN`R7,539,530780
      ALMAL`R7,279,75052
      KSHC`R5,214,45429.50
      WARBABANK`R4,813,352250
      MAYADEEN`R4,517,75347.50
      ALDEERA`R4,071,55221
      ITHMR`R3,963,88149
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History

Foundation of National Bank of Kuwait

In 1952, the story of NBK started when a prominent Kuwaiti merchant went to the British Bank of the ME to open a Letter of Guarantee for the amount of 10,000 Indian Rupees, (which is equivalent today to 750 KD). Much to his surprise, his request was rejected, on the condition he provided a guarantor. This well known merchant was shocked and appalled by the treatment that he had received, and news of this was all over town.

This incident gave rise to the question and the idea of having a national bank with a mission to serve the national needs as its priority, help the economic growth of the country, and look after the savings of its clients. In fact, a meeting was held with the late Amir of Kuwait, H.H. Sheikh Abdullah Al-Salem Al-Sabah, who congratulated them on the idea and promised them his complete support. An Amiri decree was issued on May 19, 1952 to open the National Bank of Kuwait, and NBK started operations on November 15th 1952.

NBK founders are:

  • Khalid  Zaid Al- Khalid
  • Ahmed Saud Al-Khaled
  • Khalifa Khalid Al-Ghunaim
  • Khaled Abdullatif Al-Hamad
  • Sayed Ali Sayed Sulieman Al-Rifai
  • Yousef Abdulziz Al-Fulaij
  • Yousef Ahmed Al-Ghanim
  • Mohamed Abdulmohsen Al-Khorafi
  • Abdulaziz Hamad Al-Sager

NBK was the first national bank in Kuwait and the entire Arabian Gulf region. All the board members and the founders of NBK were renowned merchants of Kuwaiti origin. NBK was established with a capital of 13,100 shares, each valued 1,000 Rupee equivalent to KD 75 today. Over the years NBK has proved itself to be a financial leader in the Arab world.

 

 

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