Boubyan Bank, DIFC FinTech Hive unite to launch “Boubyan Accelerator”

By Shilpa Annie Joseph, Official Reporter
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Boubyan Bank
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Kuwait’s leading Islamic financial institution, Boubyan Bank has signed a landmark agreement with DIFC FinTech Hive, the first and largest financial technology accelerator in the Middle East, Africa and South Asia (MEASA) region, to establish the “Boubyan Bank Accelerator Program.”

According to the statement, the project, which is the first of its type in Kuwait, intends to accelerate the growth and expansion of Kuwaiti companies.

Further, it reflects Boubyan Bank’s goal to promote young Kuwaitis’ projects by making it the first bank in Kuwait to run a FinTech startup accelerator.

Abdulla Al Tuwaijri
Abdulla Al Tuwaijri
Private, Consumer & Digital Banking
Boubyan Bank

“Boubyan Bank continues its pioneering efforts started years ago to shape the future of the financial sector in Kuwait while strengthening its position as a leader in innovation, digital services & initiatives, and entrepreneurship. We are beyond pleased with this partnership with one of the most important regional institutions that support and nurture emerging technology startups, which have been witnessing rapid growth in recent years. Boubyan Bank has always been keen to adopt leading ideas, hence, this partnership reflects its firm and unanimous belief that the future holds great opportunities for financial institutions that embrace technology as a key pillar to expand and scale their services to include various business sectors.”

“The Boubyan Bank’s accelerator will provide a customized action plan for startups and optimize the technology used in the service provision while hosting several workshops and events to allow startup owners to communicate with investors and allow them to pitch their projects, while still offering them assistance with marketing, accounting, and financial management,” Mr. Al Tuwaijri added.

Ms. Raja Al Mazroui, Executive Vice President at DIFC FinTech Hive remarked that the cooperation agreement between both parties will benefit startups in Kuwait and allow them to further advance their business and activities in the financial technology sector.

Related: Commercial Bank of Dubai unveils its Digital Lab at DIFC Innovation Hub