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4 May 2021 Boubyan Bank Sustainability Report 2020

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4 May 2021 Boubyan Bank Sustainability Report 2020 Sustainability Report 2020 ”A Gene and Core Value“ In the Name of Allah, Most Gracious, Most Merciful “Verily, Allah is the All-Provider, Possessor of Power, the Mighty” Allah the Almighty speaks the truth 2 Boubyan Group | Sustainability Report | 2020 Boubyan Group | Sustainability Report | 2020 3 H.H. Sheikh H.H. Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah Mishal Al-Ahmad Al-Jaber Al-Sabah Amir of the State of Kuwait Crown Prince 4 Boubyan Group | Sustainability Report | 2020 Boubyan Group | Sustainability Report | 2020 5 5 Managing our Human Capital 25 Employee Diversity and Inclusion 26 National Empowerment 27 CONTENTS Performance Management 28 Capacity Building 29 Retention and Turnover 30 1 Employee Rights 31 Employee Satisfaction and Engagement 32 About This Report 01 Health and Safety 33 Message from the Group CEO 02 Our Sustainability Highlights 03 Boubyan at a Glance 04 Profile 05 6 Direction 06 Subsidiaries 07 Engaging our Society 34 Memberships and Associations 08 Youth Empowerment 35 Small and Medium sized Enterprises (SME) Support 36 Women Empowerment 37 2 Health Initiatives 38 Environmental Initiatives 39 Sustainability Approach 09 Engagement Tools 40 Sustainability Assessment 10 Continuous Stakeholder Engagement 11 Sustainability / ESG Directions 12 7 Impacting through Innovation and Digitization 41 Innovation 42 3 Digitization and Technology 43 Sound Governance 13 Board of Directors 14 Sharia’a Supervisory Board 15 Executive Management 16 8 Organizational Chart 17 Assessing Our Environmental Impact 44 Risk Management and Business Resilience 18 Waste Management 45 Compliance 19 Water Management 46 Energy Efficiency 47 Greenhouse Gas (GHG) Emissions 4 and Intensity 48 Sustainable Marketplace Experience 20 Responsible Services and Solutions 21 Brand Power and Recognition 22 9 Customer Experience 23 Annex 49 Sustainable Procurement 24 6 Boubyan Group | Sustainability Report | 2020 Boubyan Group | Sustainability Report | 2020 7 Scope (102-1, 102-46, 102-52) This Sustainability Report 2020 About This Report was developed to report the Reporting Period (102-50) activities of Boubyan Group, Boubyan Group’s Sustainability Report 2020 covers the period providing key non-financial from January 1, 2020 to December 31, 2020. Global Reporting Initiative (GRI) Compliance (102-54) Boubyan Group’s Sustainability Report 2020 was developed in information and sustainability compliance with the core option of Global Reporting Initiative (GRI) reporting framework disclosure standards. This includes the development of a materiality assessment and matrix, and /Environmental, Social, and reporting against the core key performance indicators (KPIs) of GRI. Governance (ESG) performance. Acknowledgement Boubyan Group’s Sustainability Report 2020 was developed with the support of RSM Consulting W.L.L. Boubyan Group comprises: Boubyan Bank, Boubyan Queries and Contact Capital, Boubyan Takaful, Boubyan National (102-53) and the Bank of London and the Middle East We welcome your feedback comments and queries concerning Boubyan Group and this report. Please contact us through the (BLME). Throughout this report, any mention of following channels: “Boubyan” refers to Boubyan Group, including the [email protected] aforementioned subsidiaries. bankboubyan.com | @bankboubyan Boubyan Group | Sustainability Report | 2020 1 Message from the Group CEO By the Grace of Allah, the Almighty (102-14, 102-16) It is my pleasure to introduce the release of Boubyan’s first Sustainability Report for the year 2020, titled: ”Sustainability – a Gene and Core Value.“ Sustainability and Environmental, Social, and Governance (ESG) aspects are important to evaluate Boubyan’s performance, growth, positioning as leaders in digital banking, integration within our core values and business operational context, and impacts on varied stakeholders. Adel Abdul Wahab Al-Majed, Group CEO 2 Boubyan Group | Sustainability Report | 2020 Boubyan Group | Sustainability Report | 2020 3 Message from the Group CEO In line with best practices in sustainability reporting, for sustainability reporting. In line with GRI, commitment, Boubyan has seen our customer the report followed stakeholder engagement complaints decreasing by 75.1%, a customer Boubyan focused on a range of topics that include: our best practices, ensuring that non-financial satisfaction index (CSI) rating of 98%, and a Net general sustainability approach, governance, marketplace / sustainability-related performance was Promoter Score (NPS) of 72%. addressed and communicated to Boubyan’s experience, innovation and digitization, the workplace, internal and external stakeholders. Engaging with Society Boubyan is committed to giving back to the our social engagement, our environmental impacts, Youth Empowerment society in which it operates, highlighting among other topics. Reporting in these areas has been Boubyan is committed to empowering our its role as a responsible corporate citizen. youth, working from a number of perspectives, Some relevant figures in this area include a developed into a baseline. The aim is to develop further which are explained more throughout our report number of investments into and support of the and particularly in our chapter: “Engaging Our community through a range of initiatives (ie. sustainability reports to compare our performance to this Society.” This includes, among other figures, financial, volunteering, engagement, guidance), a total 24 interns trained, 88 fresh university volunteering hours recorded at 520 total hours, baseline. graduates in our workforce, and 34% of our as well as the implementation of 12 health- customer base comprising youth customers. related initiatives, 11 youth / educational Furthermore, as 2020 was an exceptional year among others. Boubyan’s aim is to be initiatives, and 2 environmental initiatives. due to the onset of the COVID-19 pandemic, transparent as to Boubyan’s impacts on and SME Support connections to this situation have been impacts from our varied internal and external Boubyan is committed to especially supporting Sustainable Workplace displayed throughout the report. This allows stakeholders. I would like to reiterate the fact small and medium enterprises (SMEs), ensuring As our employees are valuable internal us to consider our performance throughout in that our sustainability / ESG performance has that we have an impact on developing Kuwait’s stakeholders, Boubyan exhibits our ways of this context, noting that our sustainability / ESG shown to be crucial in ensuring our business economy from its roots. This is shown through taking care of our employees through the elements serve as an indication of our resilience continuity and resilience, especially in the face our products and services catered to our integration of sustainability elements. Some against our risks and challenges. of the COVID-19 pandemic. SME clients, as Boubyan currently has 2,500 related achievements in our workforce include, SME clients. Boubyan has also conducted the among others, a 40.6% decrease in employee Boubyan recognizes that sustainability is a Sustainability Report Alignment Incubation Program, which is an initiative turnover, and hiring 173 additional employees. I valuable driver for us towards our vision of While Boubyan looks at best practices in setting that assists and incubates entrepreneurs by would like to stress this achievement of largely aspiring to be a top Islamic bank, and we aim the strategy and developing our report, Boubyan providing the knowledge, training, networking reducing our turnover and hiring additional to be on top with our sustainable performance strongly considers alignment with a number facilities, workshops, and access to mentors employees despite the challenges of COVID-19 as well. In addition, sustainability supports of national and international sustainability needed by SMEs to help them grow, innovate, and associated turnover seen among other our mission of achieving excellence, as the / ESG frameworks and drivers. Frameworks and become established. organizations. Furthermore, in line with our excellence areas Boubyan aims for include a emphasized throughout our report include: commitment to national empowerment, we number of sustainability and ESG elements. the Sustainable Development Goals (SDGs), Customer Experience through Digitization recorded a Kuwaitization rate attributable These sustainable directions have a direct link Kuwait National Development Plan (KNDP), As our customers are a valuable stakeholder to Boubyan Bank of 77% out of the total with our 5 core values as well, highlighting Kuwait Boursa sustainability disclosures, and for Boubyan, we put extensive efforts into workforce. In addition, Boubyan reports the various ways in which our report caters to a ESG indicators, among others. Notably, the assessing customer experience, and further representation of women in our workforce and range of stakeholders emphasized throughout report was developed in accordance with the improving it, especially through our digitization in 2020 female employees made up 17.2% our values—namely customers and employees, Global Reporting Initiative (GRI) standards and innovation developments. As a result of this of managers and above, and 7% of executive 4 Boubyan Group | Sustainability Report | 2020 Boubyan Group | Sustainability Report | 2020 5 Message from the Group CEO managers and above. These indicators of In Closing female employee empowerment are considered Finally, we are proud of our commitment to as a baseline
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