Boubyan Bank Signs Initial Agreement Ripple

Al-Tuwaijri: We Are Trying to Keep Up With Any Developments That Help Us Provide the Highest Levels of Service to Our Customers 

Boubyan Bank has signed an initial agreement with Ripple.Net (the leading international funds’ remittance company) to provide high levels of funds’ remittance services in order to ensure more swift service with the highest levels of information and data security the bank is keen to deliver in his services and products extended to customers. 

Mr. Abdulla Al-Tuwaijri, the bank’s Deputy CEO stated: “All the time we seek to provide the best service levels to our customers in order to ensure that they get the best products and services which make their lives easier and more comfortable.”

“Accordingly, we have concluded an agreement with one of the most renowned companies internationally for instant cross-border funds’ transfer to give our customers more secure and easy fund-transfer options.”, he added.

Al-Tuwaijri pointed out that Boubyan’s existing customers enjoy outstanding services upon transferring funds to any international destination through many agreements made with international renowned companies, however, this does not stop the bank from looking for new companies and technologies to put many options on the table for Boubyan's customers.

Around the Clock 

Al-Tuwaijri added: “The new agreement is pending the approval of the Central Bank of Kuwait, which will give our customers the ability to transfer funds anywhere around the clock using various means of technology such as PCs, tablets and smart phones in addition to the bank’s website and its outstanding application.”

“The new service will provide a convenient instant fund-transfer service to many countries. The number of countries will increase with time while focusing more on countries receiving more transfers from customers.”, he stated.

Al-Tuwaijri went on to add: “This agreement reinforces the bank’s status as the best digital bank in Kuwait which earned the bank the Best Digital Bank Award in Kuwait over the past years from Global Finance.” 

Boubyan Bank was also named the Best Islamic Digital Bank worldwide by Global Finance for 4 consecutive years. 

The Best International Companies 

Mr. Navin Gupta, Managing Director - Ripple ME, highlighted the importance of cooperating with one of the most prominent Kuwaiti banks which witnessed remarkable growth over the past years in digital banking services.

He stated: “We are happy to cooperate with Boubyan Bank, which will be an important partner in Kuwait in our expansion plans for Kuwait and the region.”
Ripple.Net is one of the leading international companies in funds’ transfers, which uses the blockchain technology. The company has been established recently in 2012, however, it has managed to confirm its international status in the field of swift fund transfers and to acquire major market shares within a short period of time. 

Over the past years, the company concluded many agreements with banks around the globe including many banks in the Middle East.