Kuwait International Bank (KIB) has signed a strategic partnership with The British School of Kuwait (BSK) to introduce a zero-profit tuition installment service, aimed at easing the financial burden of education for parents. The initiative, announced at a press conference held at BSK’s premises, reflects both institutions’ shared commitment to accessible and quality education in Kuwait.
The agreement enables parents to pay school fees in easy monthly installments without any added profit charges. Importantly, the plan is open to all parents, regardless of whether they are current KIB clients, and does not require salary transfers.
Speaking at the event, Othman Tawfeqe, General Manager of the Retail Banking Department at KIB, highlighted the importance of the collaboration:
“We are proud to partner with The British School of Kuwait, one of the oldest and most prestigious educational institutions in the country. Our zero-profit tuition installment plan is designed to ease educational expenses and promote better financial planning for families.”
He added that the initiative forms part of KIB’s broader mission to provide socially impactful banking solutions that support Kuwait’s communities:
“This partnership stands as a model of effective collaboration between the financial and education sectors. Our goal is to make quality education more attainable for more families.”
The agreement comes at a time when the cost of private education continues to rise globally, including in the Gulf region, prompting financial institutions and schools to develop more flexible payment structures.
Abdulrahman Al Bahar, Direct Sales Manager at KIB, further emphasized the inclusive nature of the program:
“This is not just a financial product, it’s a commitment to accessibility. Parents don’t need to be KIB account holders or transfer their salaries to benefit. This plan is open to everyone, making it unique in Kuwait’s private education market.”
From BSK’s side, Founder and Director Madam Vera Al-Mutawa MBE praised the partnership for aligning with the school’s values:
“At BSK, we believe in nurturing not just academic success but family support systems too. This flexible plan gives parents breathing room and makes our world-class education more accessible.”
The service is already being rolled out and offers installment periods tailored to parents’ financial capabilities, with packages starting immediately upon application approval.
According to a report by the Kuwait-based education monitoring agency EdStats, household spending on private education has surged in recent years. Initiatives like KIB’s plan could set a precedent for financial institutions to step in with supportive, non-profit solutions.
The collaboration also forms part of KIB’s wider strategy of forming cross-sector partnerships that benefit both the economy and society. With previous partnerships in sectors such as healthcare and consumer retail, this latest agreement cements the bank’s position as a “Bank for Life”—a tagline it continues to build upon.
As education remains a cornerstone of long-term national development, both KIB and BSK appear to be setting an example for sustainable, inclusive collaboration in Kuwait.
