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Boubyan Bank Launches Its Business Banking Unit to Support SMEs

Al-Tuwaijri: Meeting the Needs of Young Kuwaiti Entrepreneurs Who Start Their Businesses Tops Our Priorities

Boubyan Bank announced the launch of a package of banking solutions for business banking in light of the remarkable growth of SMEs in Kuwait. This step came to encourage more young Kuwaitis to take up this types of businesses in various domains.

Mr. Abdulla Al-Tuwaijri, Boubyan Bank’s Deputy CEO, stated: “In the past years, we have witnessed a remarkable growth in the establishment of small projects at the hands of thousands of Kuwaiti youths who are enthusiastic to do private business. This necessitated a response from the banking industry including Boubyan Bank to customize solutions that cater for this segment.”

“Boubyan banking solutions for business banking come as a response to meet the demands and needs of the youths, especially that their projects have recently faced several challenges since they do not rank under either corporate or retail services banking-wise.”, he added.

He went on to add: “Due to this dilemma, Boubyan has introduced the solution by establishing a special business banking unit at the bank which shall cater for the business sector and SMEs in particular. This unit is comprised of Kuwaiti youths who advise entrepreneurs around the clock.”

“The new services keep up with the modern changes, namely in technology as a customer may get all the provided services either by mobile or internet banking in addition to the conventional  banking method such as branches.”, he added.

Mr. Al-Tuwaijri stressed that Boubyan Bank’s top management put the youths with private business as a top priority as a part of the management’s social commitment towards the Kuwaiti society.

** Special Solutions for All Sectors

Speaking about the special banking services, Mr. Zaid Rashid Al Sadoun, Senior Manager – Business Banking, stated that the business banking services were designed to be smart banking solutions aiming at understanding the needs of businesses and providing a variety of exceptional benefits which would make it possible to manage several banking transactions smoothly and easily while enjoying a wide range of smooth banking services which are available around the clock.

Boubyan Business Banking services allow businesses to manage their accounts, submit requests, check their balances, and review accounts’ details in addition to many other online services such as staff salary transfers, local & international fund transfers, ordering chequebooks, audit certificates and access to all the details of accounts as well as printing & downloading account statements, deposit service and many other services.

The staff salary transfer service, same as many other services, has many benefits and can be accessed swiftly and smoothly online. A customer may also benefit from POS machines which make sale transactions easier, smoother and more secure for companies while maintaining all their advantages. Boubyan Bank further extends the payment service which is designed for companies and retailers, allowing them to manage their commercial transactions online.

Mr. Al Sadoun also stated: “The new solutions include the ePay service, which is a payment collection service, provided by Boubyan Bank to companies in order to enable them to collect the payments by sending an SMS including the invoice number to their clients who can pay online using their debit cards”.

All these benefits are coupled with the newly designed business credit card, which is especially designed to give cardholders an exceptional range of benefits, giving them access to a wide range of offers and unique experiences with the leading international trademarks.

Also, the business banking services include elbooq service which is  a mobile app-based payment service provided by Boubyan Bank to its subscribers of all consumer and merchant segments in order to process payment transactions and to receive payments by various elbooq accounts. A subscriber may use elbooq by Boubyan Bank and may make transfers between elbooq account and the bank account linked with it.

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