The foundation of National Bank of Kuwait started 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 50 KD). Much to his surprise, his request was rejected, unless 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, Abdullah Al Salem Al Sabah, who congratulated them on the idea and promised them his complete support. An Amiri decree was issued on 19 May 1952 to establish the National Bank of Kuwait, and NBK started operating through a small branch on 15 November 1952 within a total space of three shops and a handful of employees relying on traditional and manual banking tools. Today NBK is one of the largest and most profitable banks in the region.
