An Amiri decree was issued on to open the National Bank of Kuwait, and NBK started operations on November 15th 1952. Sheikh Abdullah Al-Salem Al-Sabah, who congratulated them on the idea and promised them his complete support. In fact, a meeting was held with the late Amir of Kuwait, H.H. This incident gave rise to the question and the idea of having a Kuwaiti bank with a mission to serve citizens’ needs as its priority, stimulate the economic growth of the country, and look after the savings of its clients. ![]() This well-known merchant was shocked and appalled by the treatment that he had received, and news of this was all over town. Much to his surprise, his request was rejected, on the condition that he provide a guarantor. ![]() The National Bank of Kuwait (NBK) was established in 1952 when a prominent Kuwaiti merchant went to the British Bank of the Middle East to open a letter of guarantee for the amount of 10,000 Indian rupees, (which is equivalent today to 750 KD).
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