Home Legal FAQs
  • Prepaid vs Credit Cards? What is the difference. 
    • Prepaid is a card that needs to be top up with the required amount before using usage. 
    • Credit Card is a card that has its own limit given by the bank to be used directly after activation. This used amount will be paid back to the bank either as a full payment or through installments. 
  •  Is tap and pay (Contactless transaction) secure?
    • as chip & PIN payments, making them safer than cash
  •  Do Islamic banks take interest on Credit Usage? 
    • Islamic banks do not charge interest on credit card usage, if a customer uses their entire limit, they are only required to return that same amount back to the bank. 
  •  What are the methods of repaying the Credit Card outstanding Balance? 
    • Customers have two ways to repay any amounts used on the Credit Card. 
      • Full payment: the customer will 100% of the outstanding balance of the credit card each month. (if a client used 400 KD, they will have to pay the full amount back at the end of the cycle)  
      • Revolving: the customer will pay 8.33% of the credit card limit each month. The customer is required to pay whichever is lower, Credit card usage or 8.33% of the full limit given.
  • Construction Finance

    • Can this finance be extended to a customer below the age of 21?
      • Yes. This finance can be extended to a customer below the age of 21, provided the presence of the legal guardian.
    • Can a husband stand as a guarantor for his minor wife?
      • A husband cannot stand as a guarantor for his wife and vice versa. Only the legal guardian can stand as a guarantor.
    • Is it necessary to transfer the salary of the guarantor to Boubyan Bank in order for him to be qualified in this capacity?
      • The salary of the guarantor must be transferred to Boubyan Bank in the following cases:
      • If there were any legal procedures against the customer who applied for the financing, which were resolved within a period not in excess of 12 months (Or as per the study on a case by case basis) 
      • Or in case the total financing is in excess of the total allowed financing as per the bank’s procedures.
    • Is it possible to rearrange the contract’s terms in the future?
      • Yes, you may rearrange the contract’s terms after the lapse of 30% of the debt’s term in line with the followed terms and controls.
    • Is it required to transfer the salary to Boubyan Bank?
      • No. Housing finance is available for all customers as per the bank's controls.
  •       Health Finance

    • What are the required documents from a customer?
      • Original Civil ID card.
      • Salary certificate.
      • An account statement for the past three months.
    • Does this offer cover non-Kuwaitis as well?
      • Yes, if the customer’s standing meets the credit conditions and credit policy of Boubyan Bank. 
    • How may I know if the medical procedure or service is covered by Boubyan Bank's financing?
      • The customer can ask the hospital to provide him with the contact details and direct phone number of the concerned staff at the bank.
    • Can the patient who will benefit from the healthcare financing be someone else other than the one whose name is in the financing transaction?
      • Yes, the patient can be someone else other than the one whose name is in the financing transaction. A husband, for instance, may request a financing for his wife as in the case of delivery, and children may apply for a financing where the beneficiary is the father or the mother.
    • What the minimum time needed to apply for the financing ahead of the procedure?
      • The financing application shall be submitted at least two weeks ahead of the date of the surgery or physical therapy, provided to submit the full required documents which must be valid.
  • Education Finance

    • Can a customer apply for the financing in favor of his son or daughter?
      • Yes, a customer can apply for the financing for himself, his son or daughter.
    • Can a customer apply for the financing for his freshman child?
      • The service is not available for freshmen.
    • Can a customer apply for the education finance if he already has an existing unrepaid education finance?
      • No. The customer must fully repay his existing education finance before applying for a new one.
    • Can a customer apply for an education finance without transferring his salary to the bank?
      • Yes. Salary transfer is not required.
    • Does the customer bear any fees if he fails to pass any of the subjects financed by the bank?
      • The customer bears the monthly installment regardless of passing or not passing such subjects.
    • Does the finance cover all the majors available in GUST?
      • Yes, it covers all the majors available in GUST.
    • Does the finance cover the cost of books?
      • The finance covers tuition fees only.
    • What are the required documents?
      • Original Civil ID card.
      • Salary certificate.
      • An account statement for the past three months (in case the salary is being transferred to another bank).
      • A quotation from the university.
      • A salary certificate from MGRP for private sector employees.
  • Flexi Payment

    • Can a customer choose more than one month per year?
      • No.  A customer is allowed to choose one month per year.
    • Can the Flexi Payment feature be cancelled after signing the contract.
      • No. You may choose or opt out of the Flexi Payment feature upon signing the finance contract; this option may not be reversed following its confirmation.
    • Can we choose the first month of repayment as our Flexi Payment month?
      • No. A customer may choose the month of his choice for the Flexi Payment feature following the first month of repayment installments.
    • Can we change the Flexi Payment month after the first year of repayment?
      • No. A customer may not change the Flexi Payment month chosen upon signing the finance contract.
    • If the customer rescheduled his finance or refinanced his debt, can he benefit from the Flexi Payment feature?
      • Yes, he can benefit from the Flexi Payment feature.
  • What is the difference between Wekala and Mudaraba? 
    • Wekala is when the profit rate is known upfront, as for Mudaraba is when the profit is known upon deposit maturity 
  • Who can open a deposit and what are the general conditions? 
    • "Any Kuwaiti or non-Kuwaiti customer aged 21 and above. For minors, they must have a legal guardian.
    • A customer who is 18-years old may open a deposit which does not exceed KD 3,000 in value. In case the amount is in excess of KD 3,000, the signature of the father, mother or legal guardian must be obtained."
  • When can a customer receive the amount after breaking the deposit, and what is the profit-earning time for each deposit respectively?
    • Upon breaking any deposit, the principal amount is received immediately. For Al Mona and Al Jana deposits, the principal amount is received in addition to 20% of the profits as per the term agreed with the bank. In case of the normal maturity of the deposit, a customer received the profits for all the deposits on the maturity date. However, for Sama deposits, profits are received after 6 weeks from the date of maturity while Al Hana deposit receives monthly profits. 
  • Are there different deposit features available? 
    • there are several deposits with different features, there are deposits where you can withdrawal from and some where you can deposit to, and one where you can receive profits on a monthly basis
  • When can I receive my profits? 
    • Depending on the deposit you choose, most Wakala deposits are upon maturity of the product, and mudaraba deposits are 2 weeks after maturity.
  • Is Boubyan Rewards available on Mobile Banking App?. 
    • Yes, Boubyan Rewards is available through Msa3ed on Mobile Boubyan app. 
  • Are there any fees associated with Boubyan Rewards?
    • No, Boubyan Rewards does not charge any fees to register or use.
  •  Are prepaid cards included in the program?
    • No, prepaid cards are not included in the program
  •  Will customers receive an SMS about how many points they got during the month?
    • The customers will be notified about their points balance through push notifications and SMS. If the customer has push notifications activated, then it will be sent that way if not an SMS will be sent.
  • How can I register in Boubyan Rewards Program?
    • All Credit Card holders will be registered automatically, additionally you can register through Msa3ed on the Boubyan Mobile App
  • How can I login into my Boubyan Rewards Account? 
    • You should login to your Mobile Banking Application then access your Rewards account through “Msa3ed” or Boubyan App.
  • What should I do if I enter an incorrect password 3 times and my account gets locked?
    • You will have to contact the Call Center for assistance.
  • Do Boubyan points have an expiry deadline? 
    • No, Boubyan points do not have an expiry date.
  • Will I be able to transfer my points to a family member or friend? 
    • No, you cannot transfer your Boubyan points to anyone,
  • Can I purchase extra Points using my credit or debit card? 
    • No, you cannot purchase extra points, the only way to get Points is by using your credit card in Kuwait or abroad. 
  • What is the maximum amount of points that a customer can earn?
    • The maximum number of Boubyan Points that can be earned for all combined credit cards is 250
  • How do customers claim missing Boubyan Rewards points? (Not calculated)
    • The customer should contact Boubyan Call Center.
  • Will I be able to redeem my points at a Boubyan branch? 
    • No, currently the branch employees are not able to assist in redeeming points. The only way to redeem the points is through “Msa3ed” or Boubyan App. 
  • How will I be able to redeem the points? 
    • You can only redeem the points for cash back or miles through the Boubyan Rewards website.
  • How can I make sure my redemptions are successful? 
    • You can verify if your redemption of cashback or miles or hotel points is successful by contacting the Call Center.