Best Islamic bank: Boubyan Bank
During the past two decades, Boubyan Bank has transformed from an ambitious challenger into one of Kuwait’s leading Islamic banking franchises, combining the principles of Shariah-compliant finance with the agility and innovation commonly associated with digital-first institutions.
That evolution continued in 2025 as the bank delivered growth across its core businesses, deepened customer engagement and invested further in the technology, data and talent capabilities needed to redefine how Islamic banking services are delivered.
The results reflected the strength of that approach. Boubyan reported net profit attributable to shareholders of KWD100.5 million, up 4% year-on-year, while profit before tax increased 17% to KWD118 million. Total assets grew 9% to KWD10.2 billion, customer deposits rose 8% to KWD8 billion and the financing portfolio expanded 11% to KWD7.7 billion.
More than 95% of customer transactions were completed digitally in 2025, supported by investments in mobile banking, digital onboarding, artificial intelligence (AI) and omnichannel capabilities. Innovations included expanded capabilities for Musaed, the bank’s pioneering AI-powered digital assistant, instant-payment solutions through Kuwait’s national instant payment system WAMD, digital murabaha financing journeys and enhanced personalised services.
The bank also continued to build specialised propositions across client segments. In small and medium-sized enterprise (SME) banking, Boubyan focused on faster access to finance, digital payments and business enablement. Its SME client base increased by 220% during the review period, while its SME portfolio grew 45%, supported by initiatives including 24-hour financing approvals, the ePay digital payments platform and eRent property management solution.
Underpinning these developments was a sustained investment in technology, people and organisational capabilities. Boubyan continued to build its digital expertise through in-house product, development, quality assurance and design teams, while strengthening partnerships with fintech providers to accelerate innovation. The bank also invested in future talent pipelines, including through its collaboration with coding academy Coded to develop digital skills and bring new capabilities into the organisation.
By combining Islamic finance principles with technology-led transformation, Boubyan demonstrated that Shariah-compliant banking can compete not only on trust and values but also on innovation, efficiency and customer experience.
Best Islamic bank for ESG: Kuwait Finance House
Kuwait Finance House applied a structured environmental, social and governance (ESG) framework across financing, operations and community investment in Kuwait in 2025, delivering measurable environmental efficiencies, expanded access to essential services and stronger governance oversight.
ESG was embedded in core banking activities, reflected in increased exposure to green and sustainability-linked sukuk and financing for national infrastructure, including wastewater treatment projects that improve water reuse and resource efficiency.
The bank reduced energy use across its branches by replacing old lights with energy‑saving LED lighting, improving heating and cooling systems, and adding automatic controls, lowering electricity use per branch while maintaining service levels during expansion.
In parallel, the bank delivered certified green buildings, including Global Sustainability Assessment System (GSAS) Gold and Leadership in Energy and Environmental Design (LEED) Gold assets that demonstrate verified improvements in energy, water and waste performance, and set clear benchmarks for sustainable commercial real estate in Kuwait.
Through its creating shared value (CSV) platform, more than 200 initiatives were delivered, including KWD8 million for the reconstruction of Al Mubarakiya, covering 17 buildings, and KWD18 million to support a cardiac centre.
These efforts were complemented by more than 3,000 volunteer hours, the distribution of more than 18,000 Ramadan meals and support for 1,680 families, expanding access to heritage preservation, healthcare and essential social services.
Governance frameworks ensured accountability through board-level oversight, full emissions measurement and integration of ESG into credit assessment, aligning sustainability objectives with risk management and capital-allocation decisions.
Best Islamic bank for wealth management: Kuwait Finance House
Kuwait Finance House (KFH) strengthened its position as Kuwait’s leading Islamic wealth management provider by transforming its private banking and wealth management (PBWM) business into a more integrated, advisory-led platform combining banking, financing and investment solutions under Shariah principles.
During the review period, KFH consolidated its PBWM operations into a unified structure and introduced a new operating model designed to improve client experience, deepen investment capabilities and deliver more sophisticated Islamic wealth solutions. The transformation was supported by investment in specialist talent, technology and the continued development of KFH Capital, the bank’s in-house asset management arm.
A key element of the strategy was the redesign of KFH’s client coverage model. The bank introduced a more specialised advisory framework built around relationship managers, investment specialists, financing specialists and account managers, ensuring clients could access tailored expertise across their banking, financing and investment needs.
KFH also invested in talent development, with PBWM teams completing advanced Moody’s training, Chartered Institute for Securities & Investment (CISI) certifications and specialised Islamic wealth advisory programmes.
Investment capability also advanced materially during the review period. KFH launched a global discretionary portfolio management (DPM) service built around its internal house view and asset allocation model, offering clients a diversified multi-asset investment approach through an open-architecture range of Shariah-compliant investment funds.
Digital capabilities also improved. KFH Capital implemented a new asset management system to centralise fund and portfolio management, while the KFH Wealth app and integrated investment portal enhanced clients’ real-time access to their portfolios.
The introduction of the Allfunds platform in Kuwait further expanded access to a broader universe of Shariah-compliant investment opportunities, supporting portfolio rebalancing and performance tracking within a single digital environment.
The results reflected the scale of KFH’s transformation, with the bank reporting record PBWM profitability and investment AUM growth during the review period, reinforcing its position as Kuwait’s benchmark for modern, advisory-led Islamic wealth management.
Best Islamic digital bank: Boubyan Bank
Boubyan Bank takes Euromoney’s award for Kuwait’s best Islamic digital bank on the strength of a clear digital strategy that has reshaped customer engagement while remaining firmly grounded in Shariah principles.
Digital channels sit at the centre of Boubyan’s operating model rather than at the periphery. The bank continued to migrate core customer journeys onto its mobile and online platforms, positioning digital as the default channel for retail interactions. Its proposition goes beyond transactional functionality, integrating onboarding, financing applications and day‑to‑day account management into a single, cohesive experience designed around speed and compliance. This focus has supported strong adoption across key customer segments and reinforced Boubyan’s reputation as Kuwait’s most digitally fluent Islamic bank.
Boubyan also distinguished itself through the depth of investment behind its digital push. The bank prioritised platform resilience, cybersecurity and data architecture, ensuring that growth in digital volumes was matched by operational stability and regulatory comfort. Digital capabilities were embedded across business lines, enabling faster product launches and more responsive customer service without compromising risk discipline. Furthermore Shariah governance was integrated into digital product design from inception, helping to build trust and avoid the trade‑offs often associated with rapid innovation.
The bank’s performance during the review period shows how a well‑resourced, strategically aligned digital agenda can reinforce competitive advantage and set the benchmark for Islamic digital banking in Kuwait.
Best Islamic project finance house: Boubyan Bank
Boubyan Bank’s position as best Islamic project finance house in Kuwait in 2025 is anchored on the scale of activity, consistent deal flow and established structuring capabilities in Shariah-compliant financing.
The bank has participated in and arranged a series of large project finance transactions across the Gulf Cooperation Council (GCC), including facilities of significant size. These include roles in financings such as a $2.9 billion dual tranche facility (as arranger), a $850 million facility (as participant) and a $740 million transaction where it acted as mandated lead arranger and Islamic agent. Its wider track record also includes involvement in transactions reaching $3.6 billion and $7 billion, reflecting its ability to operate across high-value, multi-bank syndications.
Boubyan has maintained an active presence across sectors such as power, water desalination, petrochemicals and infrastructure. In one key transaction, it acted as Islamic facility agent on a $740 million financing supporting a large-scale desalination project.
Domestically, the bank has contributed to the development of project finance structures in Kuwait, including involvement in a $300 million senior debt package for a $500 million public-private partnership project. In this transaction, Boubyan acted in multiple capacities, including initial mandated lead arranger, global agent and Islamic facility agent, highlighting its capability to manage end-to-end execution.
This activity is supported by a dedicated structured finance and syndications platform, which enables the bank to arrange, structure and coordinate complex Islamic financings. Its role typically includes mobilising syndicate participants, structuring Shariah-compliant facilities and managing execution processes across multiple stakeholders.
