Boubyan Bank made yet another achievement by winning the Best Islamic Bank in Kuwait Award for 2010, awarded by the Arabian Business to the Kuwaiti business sector.
Explaining why the award was given to Boubyan Bank, the organizers said that the Bank’s transitional period - after NBK joined the list of large shareholders, followed by a thorough evaluation and assessment of the Bank’s status for two months - led to the launch of operations through a series of balanced steps. The first of these steps was contracting a renowned global consultant house, McKinsey, to place the strategy that the Bank is currently implementing.
The second step was raising the Bank’s capital by 50%, the third step, it was in putting aside precautionary sums from the budget. The final step was boosting the Bank’s human resources, and completing the executive team through recruiting leaders in the banking sector who are renowned for their high efficiency.
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