Boubyan Bank
Boubyan Bank is a Kuwait Islamic bank, which was established in 2004. Boubyan Bank has a paid up capital exceeding 196.5 million Kuwaitis Dinars (equivalent to approximately 700 million US Dollars).
Boubyan Bank is one of the emerging banks in Kuwait and GCC, benefiting from its relation with National Bank of Kuwait, the major shareholder, which is ranked among the largest 300 banks worldwide. Boubyan Bank provides a variety of banking services to individuals and corporate customers. The main activities of Boubyan Bank includes accepting deposits, establishing investment funds, and trading in real estate. The Bank deals with all types of Islamic transactions, including:
- Mudaraba
- Investment agency agreement
- Murabaha
- Lease
Subsidiaries and Associates: Boubyan Group includes the following subsidies and associates by end of 2013:
- Boubyan Takaful – Kuwait (with ownership of 67.63%)
- Boubyan Capital – Kuwait (with ownership of 99.55%)
- Saudi Projects Holding Group – Kuwait (with ownership of 25%)
- Bank of London and the Middle East – UK (with ownership of 25.62%)
- Bank Syariah Muamalat Indonesia – Indonesia (with ownership of 22%)
- Ijarah Indonesia Finance Company – Indonesia (with ownership of 33.33%)
- United Capital Bank – Sudan (with ownership of 21.67%)
Fatwa and Shari’a Supervisory Board: Boubyan Bank has a Fatwa and Shari’a Supervisory Board which monitors and approves its activities and transactions, and comprises:
- Sheikh Dr. Ajeel Jassim Al-Nashami - Chairman
- Sheikh Dr. Abdulaziz Khalifa Al-Qasar - Member
- Sheikh Dr. Esame Khaaf Al-Enezi - Member
- Sheikh Dr. Mohammed Awad Al-Fuzaie - Member
- Sheikh Dr. Ali Ibrahim Al-Rashid - Member