Boubyan Bank Crowned Best Islamic Bank for Private Financial Services in the World
Boubyan Bank was awarded the Private Banker International prize as the best Islamic bank for private financial services globally.
Translated by Qiyas from الراي — Original source
A statement from Al Ahli Bank of Kuwait (BAK) stated that the global accolade reflects the bank’s leading position in the private banking and wealth management sector, and represents recognition of its success in providing Sharia-compliant banking and investment solutions that meet the highest global standards. It also highlights the bank’s ability to meet the needs of high-net-worth individuals and large wealth holders through its international business network.
The statement noted that BAK earned the award following a rigorous evaluation by an independent judging panel, which relied on a set of criteria, the most prominent being the successful delivery of an integrated system of Sharia-compliant banking and investment solutions. Other factors included the bank’s extensive presence in Middle Eastern, Asian, and European markets, as well as its approach of building long-term client relationships, supported by specialized banking expertise, innovative digital solutions, and an exceptional banking experience tailored to clients’ diverse aspirations and needs.
Hamad Al-Ghanim, Managing Director of Private Banking and Wealth Management, said the award confirms the advanced global standing BAK has established, and underscores the success of its strategy to become the leading provider of Sharia-compliant private banking and wealth management services. He noted that the bank continues to develop its services and investment solutions to help protect and grow clients’ wealth and achieve their long-term financial goals.
Al-Ghanim added that BAK offers a comprehensive suite of private banking and wealth management services, including regional and global portfolio management, international equity and real estate funds, leasing and trade finance solutions, treasury and investment services, alongside a wide range of investment opportunities and solutions in local and global markets. These offerings are aligned with economic and investment developments to deliver maximum added value to clients.
He emphasized that this achievement serves as a motivation to continue innovating and developing financial and investment services that meet clients’ aspirations and capitalize on promising opportunities in regional and global markets. He pointed out that the award adds to BAK’s distinguished record of international accolades, which reflect its leadership in the Islamic banking industry and its excellence in delivering banking and investment services according to the highest standards of quality and professionalism, leveraging its advanced technological infrastructure and extensive expertise in Islamic banking.
The statement further explained that the evaluation for the Private Banker International global wealth management awards was conducted by an independent panel comprising a select group of experts in global wealth management and private banking. All submissions underwent individual assessment by panel members using a precise methodology that ensures transparency and objectivity, before final results were approved and winners selected.
In the category of Best Islamic Bank for Private Banking Worldwide, evaluation criteria focused on the institution’s ability to provide a reliable, integrated system for Sharia-compliant wealth management, including investment and financing solutions. Additional criteria included the quality of services provided to clients, the breadth of Islamic products, the efficiency of the Sharia governance framework, the qualifications of the Sharia board, the effectiveness of fatwa issuance and Sharia supervision procedures, compliance with relevant regulatory requirements, and the institution’s success in serving a clear and growing client base seeking Sharia-compliant financial solutions.
The statement added that the Private Banker International awards, in their 36th edition, are among the most prominent global specialized awards in the wealth management and private banking sector, bringing together global private banks, independent wealth managers, family offices, and asset management companies to honor institutions and individuals who uphold standards of excellence in client service, investment performance, and strategic innovation. Private Banker International is a specialized media platform and brand focused on wealth management and private banking.
