Bank leader for small and medium -sized enterprises (SMEs), Boubyan Bank offers single -stop financial solutions for SMEs, startups to established companies. As part of its Boubyan 2028 strategy, the Kuwait -based bank focuses on digital innovations to better serve this key segment. Abdullah al -Mejhem, assistant CEO – consumer and private banking at Boubyan, explains how this emphasis on digital products and services positions the bank for even more important success in the SME market.
Global finance: Can you share the key principles of your SME strategy and how it alignments with the overall vision of the bank?
Abdullah al Mejhem: At Boubyan Bank, our SME strategy is based on three key pillars: customer centered, digital innovation and financial empowerment. We aim to simplify financial services, offer tailor -made solutions and allow SMEs to prosper. These objectives align themselves with the global vision of Boubyan to provide excellence in Islamic banking through innovation, focusing on improving the growth potential of our customers and long -term success.
GF: With the accent put by the Boubyan Bank on digital transformation, can you explain how technology reshapes your SME offers, in particular in terms of accessibility and convenience?
AM: Digital transformation is at the heart of our SME offers. We take advantage of technology to provide transparent access to financial tools, from 24/7 online accounts to advances in digital payment solutions. Boubyan is the first bank in Kuwait to introduce payment, a bulk transfer solution fed by API which fits perfectly with commercial systems, allowing instant payments in one click. We also launched Erent, the first of the genre to Kuwait and the Middle East, offering a real estate management system entirely integrated into our online banking platform. Erent rationalizes real estate management and rental payments, saving business time and resources while transforming the real estate sector.
Advanced data analysis and automation also guarantee tailor -made, effective and accessible solutions, helping SME customers saving time and focusing on growth.
GF: Boubyan Bank positioned itself as a one -stop shop for SMEs. What specific tools, advisory services or unique offers distinguish competitors in the region?
AM: Boubyan offers SMEs a full suite of services, including business financing, payroll solutions, a B2B market and specialized consulting services. An example of our basic service is Epay, which has received global recognition as one of the best payment solutions for SMEs in the world. The service improves cash flows by reducing the general costs and accelerating the collections, while offering a friendly tool for customers to pay online.
Our unique Islamic financing solutions and our partnership ecosystem have helped make us a trusted partner for SMEs in search of holistic support. For example, we provide microfinance solutions in accordance with sharia that meets the needs of small and medium -sized enterprises. These products can use structures based on assets such as Murabaha (cost-plus financing).
We also recognize the importance of mentoring, by offering a strategy, implementation and operational advice, in particular sponsoring the vast majority of fintech candidates at the Central Bank of Sand Regulatory Kuwait.
GF: For the future, what are your priorities for the evolution of SME Bank in Boubyan, and how do you envisage your role in the training of the wider ecosystem of SMEs in Kuwait and beyond?
AM: Our priority is to improve the ecosystem of SMEs by introducing innovative financial products, promoting entrepreneurship and integrating more digital capacities. We aim to shape the wider landscape of SMEs in Kuwait by supporting sustainable growth, facilitating collaboration and becoming a regional reference for the banking excellence of SMEs.
