By: Amr Adel
Manama – Mubasher: Boubyan Bank’s Vice-Chairman and CEO, Adel Al-Majed, said that the bank is currently focusing on expanding in the Kuwaiti market.
On the sidelines of the World Islamic Banking Conference (WIBC) 2016 in Bahrain, Al-Majed told Mubasher that the bank is planning to increase the number of its branches to 42 by adding five new ones.
“Boubyan Bank owns a 22% stake in Bank Muamalat Indonesia and a 25% share in a British bank. We are not planning to raise these stakes at this time,” Al-Majed said.
The CEO ruled out any sukuk issuances before 2019, especially after the last issue before six months.
Last June, the bank issued worth KWD 250 million.
Translated by: Elwy el-Manzalawy
