Shareholders of "Gulf United" approved changing its name to "Bourqan Bahrain"
Boubyan Bank announced that shareholders of United Gulf Bank (UGB) approved, during the Extraordinary General Assembly meeting on September 3, 2026, a proposal to change the bank’s name to “Boubyan Bank Bahrain,” subject to obtaining the necessary regulatory approvals.
The planned name change represents a significant step in the continuous development of Boubyan Bank Group’s business model at the regional level. Upon completion, the bank’s operations in Bahrain are set to play a key strategic role within the Group, with increased focus on strengthening its Islamic banking and financing capabilities. This will complement Boubyan’s current product and service offerings and expand the Group’s capacity to meet the extended financial needs of its customers across Kuwait and key regional markets.
This move supports Boubyan’s comprehensive strategy to strengthen its position in Kuwait, alongside a calculated expansion of its capabilities through its regional operational network. By aligning the bank’s operations in Bahrain with the Boubyan brand, strategy, and business model, the Group aims to build a more flexible and integrated banking model that leverages its network of relationships, expertise, and market presence across the region.
Sheikh Abdullah Nasser Al-Sabah, Chairman of the Board of Directors of Boubyan Group and UGB, stated: “The proposed change reflects a calculated step in the Group’s ongoing evolution. We aspire to build a stronger, more integrated banking group anchored in our core business in Kuwait and supported by distinct capabilities across our regional markets. This also aligns with our strategy to diversify our financial solutions to include Islamic financing, thereby enhancing our ability to meet the diverse needs of our clients. Strengthening the strategic alignment of our Bahrain operations with the Group will support these pillars, boost our capacity for sustainable growth, and contribute to long-term value creation within a clearer, more cohesive strategic vision.”
Tony Dagher, Chief Executive Officer of the Group, added: “By aligning our Bahrain operations with Boubyan and increasing our focus on Islamic financing and corporate banking solutions, we are building a more integrated model capable of serving clients whose needs are increasingly spanning multiple markets. This step will allow us to leverage the Group’s network of relationships, expertise, and regional presence more flexibly and effectively, in full alignment with our slogan, ‘You Are Our Drive.’”
As part of its future strategy, the bank’s operations in Bahrain will continue to focus on corporate banking, with particular attention to expanding its Islamic financing and treasury investment portfolios, alongside strengthening capabilities in corporate banking, fixed income, and treasury and global markets products.
This model primarily targets high-net-worth individuals, family offices, corporate clients, and financial institutions, with a geographic focus covering Kuwait, Bahrain, the United Arab Emirates, and Saudi Arabia.
The growing emphasis on Islamic finance aims to enhance the group’s efficiency in meeting the needs of customers seeking Sharia-compliant solutions, while integrating with the comprehensive banking services offered by the Burqan Group. The bank’s current license in Bahrain permits it to provide both Islamic and conventional financing services, and the planned strategic shift does not require any modification to the nature of this license.
The planned changes at Al-Khalij Al-Motahed also reflect the Burqan Group’s ambitious plans to develop a regional banking model in which its operations are more closely integrated under a unified strategy, brand, and customer service approach, while simultaneously preserving capabilities tailored to the specifics of each market and the needs of its customer base.
Through this step, the Burqan Group continues to advance its strategy, which is based on strengthening its core operations in Kuwait, developing distinctive regional capabilities, and building a more integrated banking model, thereby enhancing its efficiency in meeting the evolving and growing needs of its customers across various markets.
