World Finance: Boubyan Financial institution has been named the World’s Finest Islamic Digital Financial institution for 11 consecutive years. What units you aside from the competitors?
Adel Abdul Wahab Al-Majed: As Kuwait’s main Islamic digital financial institution, Boubyan is understood for mixing innovation with belief. Over 95% of transactions are digital, that includes first-to-market improvements similar to Msa3ed (AI assistant) and on the spot digital card issuance. Prioritizing buyer expertise, we achieved market-leading buyer satisfaction index (94%) and web promoter rating (73%) by way of seamless omnichannel journeys. All improvements adhere to sharia rules. Working like a tech firm, we kind agile squads and companion with fintechs, exemplified by our partnership with Deema to launch Kuwait’s first purchase now, pay later providing.
Boubyan is pushed by innovation, buyer focus, and digital transformation, making us synonymous with comfort. Our strategic partnerships allow personalised experiences. Buyer satisfaction is essential, incomes us “Finest Islamic Financial institution in Buyer Service” award for 15 years in a row [from Service Hero’s MENA customer satisfaction index]. We redefine Islamic banking by way of know-how and tailor-made merchandise for company and particular person purchasers. Strategic funding in our workers additionally proves essential to our ongoing success.
GF: What have been Boubyan Financial institution’s most important wins over the previous yr?
Al-Majed: We’ve had a unbelievable yr, successfully constructing on our strengths. We’ve seen vital progress throughout the board, particularly in profitability for our client and company banking sectors. We’re proud to carry robust because the third-largest Kuwaiti financial institution by way of property and loans. On the retail facet, we stay the go-to financial institution, notably for younger individuals, and are proud to be ranked primary for our cell app and persistently acknowledged for customer support and innovation. A major spotlight for us was publishing our fifth consecutive Sustainability Report, showcasing our dedication to transparency and sustainable practices. We additionally efficiently issued $500 million in senior unsecured sukuk—a significant achievement.
GF: Wanting forward, what are Boubyan Financial institution’s prime strategic priorities for the following few years, and the way are you gearing up for long-term progress?
Al-Majed: Our Boubyan 2028 five-year technique, launched in 2024, is totally aligned with our imaginative and prescient, mission, and ESG objectives. Our focus is to develop and strengthen our presence each regionally and internationally, diversify services, and discover new progress alternatives—all whereas working effectively. Our ambition is to turn out to be a number one Islamic full-fledged financial institution for high-value people and corporations, emphasizing innovation and digital excellence. We are going to proceed scaling our core companies, increasing Boubyan Group’s choices, and looking for strategic partnerships to keep up progress momentum. In the end, our focus is on customer-centricity, steady innovation, operational effectivity, and vital shareholder worth.
GF: Which sectors or shopper segments are actually driving your progress, or the place do you see essentially the most thrilling alternatives proper now?
Al-Majed: Major progress stems from Kuwait’s younger, prosperous inhabitants, extremely engaged with our digital choices just like the PRIME app and gamified financial savings. This phase drives 16% of our private finance market share and 17% of card spending. Our premium and personal banking segments stay our most worthwhile, providing tailor-made wealth and funding options. For companies, SMEs characterize a rising alternative, with our ePay and business-banking platforms simplifying operations. Internationally, Nomo Financial institution within the UK has created a brand new gateway for our clients who need sharia-compliant cross-border banking. Actual property has traditionally pushed market progress, accounting for roughly 18% of the overall market. We are actually exploring associated sectors, similar to business and development. Kuwait’s commerce and development sectors have been booming, very important for the nation’s diversification away from oil in step with Imaginative and prescient 2035 and supported by improved infrastructure. Our dedication to adaptation, partnerships, and funding ensures sustained progress in these key sectors.
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