Global Finance: Boubyan is the world’s best Islamic retail bank

KUWAIT: In a new achievement that reinforces its domestic and international leadership, Global Finance has named Boubyan Bank the “World’s Best Islamic Retail Bank” for 2023 upon announcing its awards for banks in Kuwait, the region, and globally. This highlights the constant efforts of the bank towards improving its banking services. On this occasion, Mr. Abdullah Al-Mejhem, Boubyan Bank’s Chief Private Banking and Chief Consumer Banking expressed that he took pride in such international recognitions of the bank, which crowned the bank’s efforts to move forward, and its ceaseless efforts to invest in what ensured the best banking services, especially digital services.

“Receiving this award was no coincidence; rather, it was the fruit of exerted efforts over the past years, and ongoing follow-up to offer more products and services that meet customers’ needs and make their lives easier.”, he added. Al-Mejhem went on to elaborate: “Boubyan Bank always endeavors to offer creative and innovative services and products that meet the demands of customers; this reflects the bank’s commitment to building exceptional partnerships and strong and long-term relationships with customers based on mutual trust.”

Laying the Foundations of Digital Transformation Al-Mejhem added: “During the past period, we witnessed improved expansion plans based on a group of basic elements; digital transformation is one of the most important elements towards the launch of the growth and rapid improvement that we will be seeing over the upcoming years to improve the Islamic banking industry.” He went on to add: “We have succeeded over the past period in offering a group of outstanding digital and conventional banking solutions to a large segment of customers, which meet their expectations and needs across various aspects of life, and we hope to maintain sustained digital growth in a manner that promotes the change of the concept of conventional banking services in addition to maintaining the highest levels of customers’ trust.”

Al-Mejhem elaborated: “Boubyan Bank is a pioneer in laying the foundations of digital transformation and offering digital solutions which left its mark on the Islamic digital banking sector. The bank now enjoys a clear banking and digital influence in shaping a promising future in Kuwait and the region as a whole amid the tough competition in business sectors.” “The past years witnessed an unprecedented increase in the number of Boubyan Bank’s customers using banking solutions; the digital ones in particular. This led to the great growth in the number of customers and number of banking transactions performed using all channels.”, he added.

Global Finance’s awards are particularly important owing to the international institution that awards them, which is renowned for its impartiality, strict and accurate selection criteria, coupled with the fact that the award received by the bank reinforces its status globally. 1st Highlight ** Why is Boubyan always the best? Global Finance has recognized Boubyan with this award in light of the below criteria: – – Strength of strategy set by the bank for attracting and servicing retail customers. * Success in getting clients to use retail offerings. * Innovation and creativity in providing outstanding banking and non-banking services via all channels. 2nd Highlight This year witnessed the launch of the bank’s new brand identity titled “Imagine the possibilities”.

The launch is aligned with the bank’s success and achievements over the past years as well as its ambitions for the future. The rebranding process aimed to keep up with our growth, while expressing the bank’s ambition and passion to build a strong relationship with customers, and to refresh our messages to various segments of customers and stakeholders and, thus, we updated our logo, our mission, vision, and Boubyan core values. 3rd Highlight Boubyan Bank launched its new Premium Account, which keeps up with the improvements at the bank to make it a one-stop shop of banking services offered to its affluent customers, while bringing them unique services and products that meet their needs inside and outside Kuwait.

4th Highlight During this year, Boubyan Bank inaugurated a number of new branches (Al-Daiyea Branch, Al Khiran Outlet Mall Branch, and Abu Fatera Branch). This increased the number of branches across Kuwait to 48 branches, which comes as a part of the strategy of geographic presence, and expansion in offering banking services and solutions using the latest technologies, thus offering a unique experience and service level to maintain Boubyan Bank’s leadership and ability to keep up with the ongoing developments in the Islamic banking industry.

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