Mubasher: Boubyan Bank has signed a preliminary agreement with Ripple.Net company for high-quality tech services in relations to money transfers.

Under the agreement, the bank’s customers will be offered speed, secure, and safe service, according to a company statement released on Tuesday.

The new agreement, which is pending the approval of the Central Bank of Kuwait (CBK), will enable our customers to transfer money to any location 24/7 through various technologies, Boubyan’s deputy CEO Abdullah Al-Tuwaijri commented.

Earlier in July, Boubyan Bank reported an 8.1% year-on-year increase in net profit during the second quarter of 2019, recording KWD 14.25 million ($47 million).