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About Us

Boubyan Bank is known for its provision of exclusive and unique banking services and products which were first introduced by it in the Kuwaiti market. The Bank is also ranked as the best private sector institution in Kuwait in the field of customer service.

Furthermore, creativity and innovation have always been the corner stone for Boubyan Bank’s business model as the bank is keen on reinforcing this value through the innovative digital and electronic banking services, most of which is offered for the first time in the state of Kuwait.


Boubyan Group

Boubyan Bank

Boubyan Bank is the first Islamic bank to be established in the state of Kuwait as per the Law of Islamic Banks no. 33 of 2003. The Bank was established as a Kuwaiti Public Shareholding Company on September 21st 2004 by virtue of the Amiri Decree no. 88 to practice all banking, financial and commercial activities in compliance with the provisions of the Noble Islamic Sharia.

Boubyan Capital

Boubyan Capital is a Sharia compliant investment company based in Kuwait. The company provides asset management and brokerage services to institutions and high net worth individuals in addition to managing the propriety investments of the Boubyan Bank Group.

Boubyan Takaful

Established in 2006 with an authorized capital of 10 million Kuwaiti Dinars, Boubyan Takaful Insurance Company holds insurance license number 34 and is licensed to provide wide range of Insurance products under all classes of business; Motor, Fire & General Accident, Engineering & Liabilities, Marine & Aviation, Family Takaful & Medical; all on the basis of Takaful insurance in line with Islamic principles under the supervision of our Shari'a Board.

Boubyan National

Boubyan National Real Estate Services Company is a Kuwaiti Limited Liability Company established in accordance with the provisions of the Kuwait Companies Law. Its paid up capital upon establishment was 1 million Kuwaiti Dinars. The company was established in 2008 and is working in accordance to the Islamic Shari’a and applying the Islamic teachings in all its transactions.

Mission & Vision

 

Mission: Achieving excellence in everything we do 
We will do this by:

  • Always focusing on our customers
  • Working as a team to exceed our individual expectations
  • Maintaining the highest standards of integrity and professionalism
  • Fostering creativity and innovation in the products and services we offer and in the way we work
  • Focusing on our employees by creating a high-performing organization that nurtures, develops and provides exceptional opportunities for our people

Vision: We aspire to become one of the top 5 Islamic banks in the world

Customer Charter

 

Our commitment to YOU in achieving excellence in everything we do

  • We will always serve YOU in a friendly, courteous and professional manner.
  • We will always provide YOU with accurate information, honest advice and protect your wealth and privacy.
  • We will always listen to YOU carefully, and will always take prompt action on feedback, enquiries and complaints.
  • We will always provide YOU with innovative channels that allow you to bank conveniently and securely, anytime, anywhere.
  • We will always provide YOU with sharia’a compliance products that cater to your need and exceed your expectations.

What we expect from YOU

  • To be part of the Boubyan Bank family, our family treats all with courtesy and respect.
  • To provide us with timely and accurate information, we need it to serve you better.
  • To provide us with candid feedback, both positive and negative. Your feedback drives our journey towards perfection.

Perspective of Islamic Banking

 

Shari'a Compliant Banking

Islamic banking is a banking or financing activity that complies with Shari'a Islamic law and is applied in practice through the development of Islamic economics. 

Offering a combination of services under Shari'a law and ethics cultivates an ideal relationship between banking and business and has progressively dominated the domestic banking landscape across the world by the 21st century.

A primary challenge facing Islamic banking today is the reconcile of its dual role as a business facilitator and a financial institution.  The slow evolutionary process of Islamic banking is exemplified in the prevalence of diluted alternative applications of Shari'a principles instead of the ideal balance between the application of the Profit & Loss Sharing (PLS) mode of financing in measured combination with other fixed return modes.

In response to this, Boubyan Bank offers a dynamic of comprehensive knowledge in a financial environment conducive to the development of profit-friendly and risk-mitigating Islamic products and instruments, and advocates for a co-operative effort amongst Islamic banks on a global and regional scale.

Boubyan Bank’s Islamic banking and financing models include Mudarabah (profit-sharing and loss-bearing), Wadiah (safekeeping), Musharaka (joint venture), Murabahah (cost-plus), and Ijara (leasing).

Fatwa Book

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Board of Directors

 

Mahmoud Yousef Al-Fulaij

Chairman

Year of joining: 2010 Skills and Experience: Mr. Al-Fulaij is a well-known businessman in Kuwait with more than 30 years of experience; he manages two general trading and contracting companies in Kuwait. He graduated with a bachelor’s degree in Business Administration from the United States of America in 1980.

Adel Abdul Wahab Al-Majed

Vice-Chairman & Chief Executive Officer (Executive)

Year of joining: 2010 Skills and Experience: Mr. Al-Majed has more than 30 years of banking experience. In the course of his career, he worked for National Bank of Kuwait (NBK) where he held several positions including Deputy Chief Executive Officer and General Manager - Consumer Banking Group. Mr. Al-Majed graduated from the University of Alexandria with a bachelor’s degree in Accounting, and has attended various management training programs at various universities, including Harvard, Wharton and Stanford.

Hazim Ali Al-Mutairi

Director (Non-Executive)

Year of joining: 2010 Skills and Experience: Mr. Al-Mutairi has a diversified experience in the fields of financing, investment, and treasury. He is the CEO of a holding company in Kuwait. He graduated from the United States of America with a bachelor’s degree in Finance.

Abdulaziz Abdullah Al-Shaya

Director (Non-Executive)

Year of joining: 2009 Skills and Experience: Mr. Al-Shaya is a well-known businessman with more than 35 years of experience; he manages a trading company in Kuwait. Mr. Al-Shaya holds a bachelor’s degree in Economics from Kuwait University.

Adnan Abdullah Al-Othman

Director (Non-Executive)

Year of joining: 2016 Skills and Experience: Mr. Al-Othman is a well-known businessman with more than 37 years of experience in banking and real estate sectors; he owns a real estate company. Mr. Al-Othman holds a bachelor’s degree in Industrial Engineering from Syracuse University - USA. Other current posts: Member of the Trustees of the Estate of the Late Abdullah Abdulatif Al-Othman (Kuwait). Member of the Executive Committee for the Implementation of the Charity Projects of the Late Abdullah Abdulatif Al-Othman (Kuwait)

Mohamed Yousef Al-Saqer

Director (Non-Executive)

Year of joining: 2019 Skills and Experience: Mr. Al-Saqer is a well-known businessman with more than 30 years of experience in business; he is the managing partner of two trading companies in Kuwait. Mr. Al-Saqer holds a bachelor’s degree in Public Administration from Point Park College - USA.

Waleed Mishari Al-Hamad

Director (Non-Executive)

Year of joining: 2010 Skills and Experience: Mr. Al-Hamad has more than 20 years of experience, including 11 years in banking and the remaining in the investment sector; he is the Managing Director of a holding company in Kuwait. Mr. Al-Hamad possesses a bachelor’s degree in Economics, and a master’s degree in Finance from the United States of America.

Waleed Ibrahim Al-Asfour

Director (Non-Executive)

Year of joining: 2019 Skills and Experience: Mr. Al-Asfour possesses more than 35 years of experience in real estate and financial sectors. He manages a real estate company and an investment company in Kuwait. Mr. Al-Asfour graduated from Kuwait University with a bachelor’s degree in Business Administration - Finance. Other current posts: Vice Chairman – Al-Wodouh Capital Holding Company, KSCC (Kuwait) Board Director – Shorooq for Medical Services Company, KSCC (Kuwait)

Waleed Abdullah Al-Houti

Director (Non-Executive)

Year of joining: 2019 Skills and Experience: Mr. Al-Houti possesses more than 37 years of experience in financial and oil sectors. He is currently the Chairman of Kuwaiti shareholding company, which invests in petroleum services. Mr. Al-Houti graduated from Kuwait University with a bachelor’s degree in Business Administration - Finance. Other current posts: Chairman – Al-Dorra for Petroleum Services Company, KSCC (Kuwait) Vice -Chairman – Makamen for Oil and Gas Services Company (Saudi Arabia)

Executive Management

 

Adel Abdul Wahab Al-Majed

Vice-Chairman & Chief Executive Officer

Mr. Al-Majed joined Boubyan Bank in August 2009, and has more than 36 years of banking experience. He worked previously for the National Bank of Kuwait (NBK) where he held leadership positions, including Deputy Chief Executive Officer and General Manager - Consumer Banking Group. Mr. Al-Majed graduated from the University of Alexandria with a bachelor’s degree in accounting, and attended various executive management development programs at various universities, including Harvard, Wharton and Stanford.

Abdulla Al-Najran Al-Tuwaijri

Deputy Chief Executive Officer

Mr. Al-Tuwaijri joined Boubyan Bank in December 2011 and has more than 29 years of banking experience, including 23 years at NBK. During his time with NBK, he held different leadership roles in retail banking in Kuwait and London. Mr. Al-Tuwaijri got his bachelor’s degree in Finance from Kuwait University, and attended several executive development programs at Harvard Business School, INSEAD, and other reputable institutions.

Abdul-Salam Mohammed Al-Saleh

Deputy Chief Executive Officer

Mr. Al-Saleh joined Boubyan Bank in October 2012, and has more than 30 years of banking experience. He worked for 18 years at NBK, where he gained experience in Financial Control and Corporate Banking; and his last position was the Head of Domestic Corporate Banking. Prior to joining the Bank, he worked over 7 years for National Bank of Abu Dhabi (NBAD) as the Regional Manager of its branch in Kuwait. Mr. Al-Saleh got his bachelor’s degree in Finance from Kuwait University, and attended various executive management development programs over the course of his career.

Waleed Khalid Al-Yaqout

General Manager - Administration Group

Mr. Al-Yaqout joined Boubyan in February 2010, and has more than 36 years of banking experience. His previous position was General Manager – Administration and Human Resources Group at NBK. Mr. Al-Yaqout graduated with a bachelor’s degree in Business Administration and Marketing from the University of Ashland in USA, and participated in various executive management development programs at Harvard, Wharton, Stanford and Columbia.

Adel Abdullah Al-Hammad

General Manager - Human Resources Group

Mr. Al-Hammad joined Boubyan Bank in December 2006, and has more than 34 years of experience in Human Resources Management, out of which 23 years were at NBK, where he held several key positions, the last of which was the Head of Human Resources. Mr. Al-Hammad graduated with a bachelor’s degree in Economics from Kuwait University, and attended several executive management development programs at Harvard and Stanford.

Abdullah Ahmed Al-Mehri

Acting Chief Operations Officer

Mr. Al-Mehri joined Boubyan Bank in January 2019 and has around 20 years of experience in banking sector. Prior to Boubyan, he was the head of the “Off-site Supervision Department” at the Central Bank of Kuwait. He worked earlier in the Corporate Banking as Executive Manager at National Bank of Abu Dhabi in Kuwait and Senior Manager at National Bank of Kuwait. He holds a bachelor’s degree in accounting from the American University of Cairo and a master’s degree in business administration from the Maastricht University in Kuwait; he attended as well various executive management development programs at Harvard.

Ashraf Abdallah Sewilam

General Manager – Corporate Banking Group

Mr. Sewilam joined Boubyan Bank in 2013, and has over 24 years of experience in banking sector. Before joining Boubyan, Mr. Sewilam was CEO of Al Rajhi Bank-Kuwait. He occupied the position of the CEO of UBCI (a subsidiary of Ahli United Bank (AUB) in Libya) and was a Deputy CEO for Corporate and Treasury at AUB in Kuwait. He worked as well for 10 years at NBK, where he progressed in several managerial positions, the last of which was Executive Manager. Mr. Sewilam holds bachelor’s degree in Economics from Cairo University.

Neven Raic

General Manager – Consumer Banking Group

Mr. Raic joined Boubyan Bank in August 2018 and has more than 25 years of experience in banking, particular in retail banking. He has held executive positions in various international banks, both in Europe and Middle East. In addition, Mr. Raic has also held several non-executive or supervisory board roles at various financial services institutions. He holds a master’s degree in business administration from the Berlin School of Economics and Law.

Abdul Rahman Hamza Mansour

General Manager - Internal Audit

Mr. Hamza joined the Bank in year 2006 and has more than 35 years of professional experience with financial institutions. Prior to joining Boubyan, he held a position as Audit Manager at Kuwait Investment Authority, and worked before that at Al-Ahli Bank of Kuwait. Mr. Hamza holds a bachelor’s degree in Accounting, and he is a Certified Public Accountant (CPA), a Certified Internal Auditor (CIA) and a Certified Fraud Examiner (CFE).

Mohamed Ibrahim Ismail

General Manager – Financial Control Group

Mr. Ismail joined Boubyan Bank in 2005 and has about 22 years of banking and financial services experience. He started his career as an external auditor with Deloitte & Touche and then Ernst & Young. In the course of his career, he worked at Kuwait Finance House and Gulf Investment House. Mr. Ismail is a Certified Public Accountant (CPA) and a Certified Internal Auditor (CIA), and holds MBA in Finance from Manchester Business School.

Majed Fanous

Chief Risk Officer and General Manager – Risk Management

Mr. Fanous joined Boubyan Bank in February 2018; he has over 30 years of experience in banking, risk management, and financial regulations. Before joining Boubyan, he was the lead partner of the Risk and Regulatory practices of Ernst & Young in the UK and MENA. Prior to this, he was the lead partner of the Finance and Performance Managed (FPM) of Accenture’s UK/Ireland. Mr. Fanous holds a bachelor’s degree in accounting from Cairo University.

Adel Rashed Al-Mutairi

Assistant General Manager - Treasury Services

Mr. Al-Mutairi joined the Bank in 2015 and has over 15 years of experience in banking sector, mainly in treasury services. Prior to joining Boubyan, he held the position as the Vice President of Treasury at Warba Bank. Mr. Al-Mutairi holds a bachelor’s degree in Education – Mathematics; he attended executive management programs at Wharton Business School and Harvard Business School.

Shariah Committee

 

Sheikh Dr. Abdulaziz Khalifa Al-Qasar

Chairman Board

Sheikh Dr. Esame Khalaf Al-Enezi

Member/Reporter

Sheikh Dr. Mohammed Awad Al-Fuzaie

Member

Sheikh Dr. Ali Ibrahim Al-Rashid

Member