Boubyan Bank - Kuwait
Boubyan Bank was established in 2004 by Ameri decree. It was the first Islamic bank after KFH who was monopolized the Islamic banking market for more than 25 years. This was a big challenge for Boubyan to show its ability to compete. At the beginning Boubyan show some good performance compared to the size of the bank and the limited experience, at this stage Boubyan did not use any information system technology to support the sales strategy and everything was done manually. After the global crisis in 2008, Boubyan was struggling to stay in the business but by the end of 2008 Boubyan Bank announced more than 50 million KD losses. In the mid of 2009 The National Bank of Kuwait (NBK)Kuwait’s largest and oldest bank take the decision to take over the majority shares of Boubyan to be the Islamic arm for NBK, by the mid of 2011 Boubyan Bank was owned 59% by NBK and this was the real start to Boubyan Bank.
Boubyan bank was restructured by NBK with new strategy and management and a new person was assigned by NBK as head of PMO in Boubyan, Mr. Mohammad El-Shereef has a strong background in this field with over 15 years of experience with NBK, his main aim was to start the new system (BSC). The purpose of this system is to help managers agree and then articulate that strategic destination and road map for Boubyan Bank, and to monitor the activities required for their achievement. Also to shifts from tracking performance of a process, to monitoring whether or not objectives have been set, and the extent to which the planned action to achieve them are working. Management teams at the bank are using this system to support decision making about ‘interventions’ needed by them to ensure that their strategic goals are successfully achieved. The new system allows Boubyan to define a new segments, products and services. The (BSC) is one of the most important tools that drives performance to the desired level. Before the new system the old...
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