Boubyan Bank
Encyclopedia
Boubyan Bank is a Kuwaiti bank
established in 2004 by Amiri Decree No. 88 with a paid-up capital of 100 million Kuwaiti Dinars for the purpose of exercising all activities of the banking business (financial and commercial) in accordance with the rules and regulations of the Central Bank of Kuwait (Law No. 30 passed in 2003).
Boubyan Bank is a Kuwaiti shareholding
company. More than 90% Kuwaiti citizens are the bank's shareholders owning 76% of Boubyan Bank shares. This bestows on the bank the privileged status of being a national project with the advantage of an already established level of trust. The remaining shares are owned by Kuwait Investment Authority (KIA) with equity of 20% and the Public Institution for Social Security (PIFSS) with equity of 4%.
Boubyan Bank is built on the ideal of establishing socio-economic equity by influencing the business environment and society in which it operates through the sincere application and ethical practice of Islamic banking and value-creation for its customers, partners and shareholders.
The National Bank of Kuwait ( NBK ), Kuwait's largest and oldest bank, bought the majority shares of Boubyan Bank by mid 2010.
Bank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
established in 2004 by Amiri Decree No. 88 with a paid-up capital of 100 million Kuwaiti Dinars for the purpose of exercising all activities of the banking business (financial and commercial) in accordance with the rules and regulations of the Central Bank of Kuwait (Law No. 30 passed in 2003).
Boubyan Bank is a Kuwaiti shareholding
Share (finance)
A joint stock company divides its capital into units of equal denomination. Each unit is called a share. These units are offered for sale to raise capital. This is termed as issuing shares. A person who buys share/shares of the company is called a shareholder, and by acquiring share or shares in...
company. More than 90% Kuwaiti citizens are the bank's shareholders owning 76% of Boubyan Bank shares. This bestows on the bank the privileged status of being a national project with the advantage of an already established level of trust. The remaining shares are owned by Kuwait Investment Authority (KIA) with equity of 20% and the Public Institution for Social Security (PIFSS) with equity of 4%.
Boubyan Bank is built on the ideal of establishing socio-economic equity by influencing the business environment and society in which it operates through the sincere application and ethical practice of Islamic banking and value-creation for its customers, partners and shareholders.
The National Bank of Kuwait ( NBK ), Kuwait's largest and oldest bank, bought the majority shares of Boubyan Bank by mid 2010.