Boasting the country’s dominant retail franchise, coupled with the largest share of the youth market, Boubyan Bank has firmly established itself as one of Kuwait’s leading financial institutions. Combining deep roots in Sharia-compliant finance and a commitment to digital transformation, the bank has also earned a reputation as the world’s leading Islamic digital bank.
“In an increasingly competitive banking environment, Boubyan continues to stand out by building trust, embracing technology, and aligning its growth trajectory with Kuwait’s Vision 2035 and broader global sustainability goals,” says Adel Al Majed, Vice-Chairman & Group Chief Executive Officer.
Digital edge and market leadership
At Boubyan Bank, over 95% of consumer banking transactions are digital. The bank has launched multiple first-to-Kuwait innovations including Msa3ed, the AI assistant, instant digital card issuance, multi-currency travel cards, and gamified savings for young customers. This unwavering dedication to digital excellence spans the bank’s corporate business too, where the majority of customer transactions are processed through advanced online platforms. This has made the bank synonymous with convenience and modern banking solutions.
“Our strategic partnerships with leading global fintech and IT players enable us to deliver personalized experiences and services to all our clients,” says Al Majed. “What makes us stand out is not just technology, but customer experience and culture.”
The bank leads the market with a Customer Satisfaction Index (CSI) of 94% and a Net Promoter Score of 73%, enabled by seamless omnichannel journeys and alignment with Sharia principles. In many ways, Boubyan operates with the mindset of a tech company more than a mere traditional bank. Staff work in agile squads and partner with start-ups to innovate and scale new products and solutions. Most recently, the bank helped to launch Kuwait’s first BNPL platform with Deema to expand responsible credit and support the retail and merchant ecosystem.
This focus on customer needs and cutting-edge technology has allowed the bank to redefine the landscape of Islamic banking in Kuwait. For 15 consecutive years, Boubyan has been recognized as Kuwait’s “Best Islamic Bank in Customer Service.” “This accolade underscores our dedication to providing exceptional service across all channels,” says Al Majed.
At the core of Boubyan Bank’s success lies its unwavering commitment to human resources. “While technology, customer experience, and innovation often take center stage, our strategic investment in our staff is a vital driver of our growth and ongoing success,” says Al Majed.
Nowhere is this success more visible than in the bank’s ability to anticipate the needs of a fast-changing market. Kuwait’s youthful demographics — more than half the population is under 35 — give the bank a unique opportunity.
Expanding horizons
Affluent clients and private banking customers remain central to profitability, with Boubyan offering bespoke wealth management and lifestyle services. Meanwhile, the bank’s SME platforms, including ePay and business banking solutions, are making life much easier for entrepreneurs by simplifying payments, liquidity, and collections.
On the corporate side, Boubyan has aligned itself with Kuwait’s evolving economy. Real estate, construction, and trade have all seen renewed momentum as the country invests heavily in infrastructure and diversification beyond oil. Boubyan has responded well with tailored financing solutions, with particular focus on public-private partnerships that support long-term growth. “Over the past year, we have strengthened our position as the country’s third largest bank by assets and loans, and set benchmarks in innovation, customer service, and transparency,” says Al Majed.
Looking forward, the bank aims to adapt and evolve to meet new challenges and ambitions. Boubyan is continuously exploring growth opportunities and is now focused on its current five-year strategy, Boubyan 2028, which began in 2024. “Through Boubyan 2028, our goal is to cement our position as the leading Islamic bank for high-value individuals and companies, expanding locally and internationally, innovating across business lines, and creating lasting value for customers, shareholders, and Kuwait’s wider economy,” says Al Majed.
KEY DATA
First half 2025
Total assets: $32.6bn
Net profit: $171.3m
Capital adequacy ratio: 16.8%
Loan to deposit ratio: 88%