Boubyan Bank and Mastercard have signed a new agreement aimed at advancing Kuwait’s fintech ecosystem by supporting innovation and enhancing digital financial services. The strategic partnership, announced in Kuwait City on October 22, 2026, brings together Boubyan’s banking infrastructure and regulatory expertise with Mastercard’s global payments technology to foster growth and improve customer experiences in the evolving digital economy.
The agreement was formalized in the presence of Abdullah Al-Tuwaijri, CEO of Consumer, Private, and Digital Banking at Boubyan, and Mark Elliott, Mastercard’s Division President for East Arabia, along with senior executives from both organizations. It establishes a framework for collaboration focused on exploring new fintech opportunities and implementing innovative solutions tailored to the Kuwaiti market.
Saleh Al-Mansour, General Manager of Retail Products & Business Performance at Boubyan Bank, emphasized that the partnership aligns with both companies’ dedication to driving financial innovation. He highlighted Boubyan’s commitment to supporting fintech startups, describing this support as a core component of the bank’s strategy to help transform ideas into scalable, market-ready solutions.
Under the agreement, eligible technology firms can leverage Boubyan’s “Banking as a Service” (BaaS) program, which offers a range of services designed to accelerate product development while maintaining high standards of security, governance, and regulatory compliance. Among the offerings are BIN Sponsorship, facilitating the addition of bank cards to digital wallets; ATM as a Service, which allows cardless cash withdrawals through Boubyan’s ATM network; and Virtual IBAN, enabling direct bank transfers to digital wallets.
Al-Mansour also mentioned the “Empower by Boubyan” initiative, which aims to assist fintech companies in scaling their operations and expanding their market presence. He framed these efforts as part of a broader vision to build an integrated technology ecosystem that supports fintech enterprises at every phase of growth, ultimately strengthening Kuwait’s position in the regional digital economy. The bank is simultaneously expanding collaborations with international partners to adapt to rapid changes in financial technology and prepare the local market for future developments.
From Mastercard’s perspective, Mark Elliott highlighted Kuwait’s advancing digital infrastructure and rising adoption of digital payments as key drivers creating fertile ground for fintech innovation. He underscored Mastercard’s role in bringing global insights into payment standards, technologies, and consumer trends to the partnership. Elliott said the collaboration aims to harness this expertise to support the development of fintech solutions that promote commerce and enable individuals and businesses to maximize their potential in the digital economy.
Together, Boubyan Bank and Mastercard seek to leverage their combined resources and expertise to enhance the efficiency, security, and accessibility of digital financial services in Kuwait, marking a significant step forward in the country’s fintech sector.