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                                                                             ESG Profile Summary: 182 ESG Subfactors, 228 DocuLinks and 45 Factsheet Data Points


SubFactor Keywords Core Frameworks DocuLinks Factsheet Highlights
Management Approach
Message from Chair
Sustainability Report 2022 (Page 6)
Annual Report 2022 (Page 10, 11)


Sheikh Abdullah Nasser Sabah Al Ahmad Al Sabah (Chairman)- This is our fourth year of publishing this report, which highlights the key milestones for our strategy and actions on making ESG an integral part of our way of doing business. The year 2022 has been significant in firmly anchoring Burgan Bank on the path to a more inclusive and equitable organisation, an engaged community partner and contributor to a cleaner environment. In alignment with Kuwait Vision 2035 and UN Sustainable Development Goals, our ESG aligned commitments range across our core activities of banking, risk management, human capital and CSR. Our key CSR initiative called ‘ENGAGE’ –is a campaign to engage larger communities through a variety of partnerships and promotes social welfare through educational, cultural, health and other community drives. The Bank continues to promote financial literacy and financial inclusion through its various Diraya Program initiatives and continues to focus on women empowerment drives. Our Bank has an excellent gender equality ratio with almost half of all employees being women. Our diversity and inclusion agenda is noteworthy with integration of specially abled individuals into our workforce as well as efforts to make banking accessible at our branches for differently abled individuals
Message from Group CEO
Sustainability Report 2022 (Page 7)
Annual Report 2022 (Page 12, 13)


Masoud M.J. Hayat (Vice Chairman and Group CEO)- Technology continues to be a key enabler for accelerating the Bank’s sustainability journey by building our capabilities in the digital banking space. Our customers have readily embraced the digital transformation with over 60% of the Bank’s total customer base going digital at the end of 2022 and 79% year-on-year growth in mobile banking transaction volumes in 2022. The digital transition not only helps lower our own environmental footprint but that of our customers Our ongoing financial support for small and medium-sized enterprises reflects our commitment to creating economic opportunities and growth in the wider economy. Our bank continues it’s support of the nationalization drive with 80% of our workforce comprising of Kuwaitis. Our new self-service learning Group CEO’s Message platform, combined with tailored instructor-led courses and succession planning programmes, allow us to develop future ready talent for an ever-evolving market. We remain committed to partnering with our community through our wide-ranging CSR programmes. Our Bank is working on incorporating ESG lens into our risk management procedures to safeguard against emerging ESG risks. Our Bank has been the first in Kuwait to publish it’s Sustainable Financing Framework that shall serve to guide our future sustainable financing efforts and has established a cross-functional ESG Working Group to drive it forward; We are proud to say that Burgan has adopted a proactive and comprehensive approach to sustainability as well as environmental, social and governance (ESG) management. As a bank, our responsibility is to constantly deliver greater value to our people and our communities; first as financial providers; and second as engaged corporate citizens. As a result, in 2022, we further expanded the scope of our ESG Framework, and reaffirmed our commitment to create better solutions for a more sustainable future
Company Overview, Vision and Mission
Company Website - About Burgan Bank


Company Overview: Burgan Bank is the youngest conventional Bank and second largest by assets in Kuwait, with a significant focus on the corporate and financial institutions sectors, as well as having a growing retail, and private bank customer base. Burgan Bank has majority owned subsidiaries in the MENAT region supported by one of the largest regional branch networks. which include Gulf Bank Algeria - AGB (Algeria), Bank of Baghdad - BOB (Iraq & Lebanon),Tunis International Bank – TIB (Tunisia), and fully owned Burgan Bank – Turkey, (collectively known as the “Burgan Bank Group”). Furthermore, Burgan Bank has a present in the UAE through its corporate office (“Burgan Financial Services Limited) which had helped the bank to participate in multiple financing opportunities in the UAE. Burgan Bank, a subsidiary of Kuwait Projects Company (KIPCO), is one of the leading financial institutions in the MENAT region. Vision: To be the best-of-class financial service provider in the Kuwaiti market through sustained execution of best-in-class practices, innovation and stakeholder care; Mission: To be your financial partner forming a relationship with our clients based on integrity and trust, and providing innovative banking services that understand and support our client’s different needs at every stage of life; Goal: Continuously aims to deliver maximum value to stakeholders of the Bank with prudent growth practices and in the spirit of the corporate governance framework
Company Overview
ESG a Core Pillar of Strategy Strategy GRI 102: GD Strategy,IFC PS 1: Environmental and Social Risks and Impacts,SASB: Leadership and Governance,SDG 17: Partnerships to achieve the Goal,WEF Governance: Risk and Opportunity Oversight,
Sustainability Report 2022 (Page 15)
Company Website - Investor Relations - Sustainability
Annual Report 2022 (Page 45)


Burgan Bank committed to its sustainability journey by establishing a comprehensive ESG (Environmental, Social, Governance) framework, developing an ESG roadmap, establishing ESG initiatives and reporting on Sustainability to align with New Kuwait Vision, Boursa Kuwait and United Nations’ Sustainable Development Goals (UNSDGs). The Bank bases its sustainability journey on the sound principles of Global Reporting Initiative (GRI) Standards and the Sustainability Accounting Standards Board (SASB). A rich natural environment and healthy social environment are the foundation of economic and business development along with improvement of people's lives. At Burgan Bank, we acknowledge our responsibility to manage environmental and social risks, and to proactively identify opportunities that will help secure the financial wellbeing of our customers and Kuwait for generations to come. We are expanding our products and services and strengthening our corporate governance structures in recognition of our responsibility to advocate ethics, responsible financing and investing and contributing to the protection of environment and creation of sustainable communities. The 2030 Agenda for Sustainable Development, adopted by all United Nations Member States in 2015, provides a shared blueprint for peace and prosperity for people and the planet, now and into the future. Burgan Bank is actively working towards contributing to established goals to make the world a better place to live in
ESG Reporting Track Record Metrics GRI 102: GD Reporting Practice,SASB: Leadership and Governance,SDG 17: Partnerships to achieve the Goal,WEF Governance: Risk and Opportunity Oversight,
Company Website - Investor Relations - Sustainability
A : 4

Sustainability Reports are available from 2019
ESG Materiality Assessment PE: Entry Due Diligence Ratings Focus Social Overview Boursa Kuwait E: Oversight,Boursa Kuwait G: Sustainability Reporting,GRI 102: GD Reporting Practice,IFC PS 1: Environmental and Social Risks and Impacts,SASB: Leadership and Governance,SDG 17: Partnerships to achieve the Goal,
Sustainability Report 2022 (Page 16, 17)


The Bank conducts a structured Materiality Assessment to assess its sustainability issues by studying and reviewing national and global sustainability context and taking into consideration the opinions of stakeholders. At Burgan Bank, a detailed materiality exercise is conducted at regular intervals to understand the challenges faced in business processes, the external environment, geographical expansion and global trends on ESG factors that impact the Bank that have been identified as material topics. The Bank prioritizes the most material topics on the basis of interaction with stakeholders and independent analysis. A structured Materiality Assessment was conducted in 2019 through a process of Identification, assessment and prioritization. The years when a full materiality assessment is not conducted, the Bank reviews the adequacy of material topics through engagement methods with stakeholders every 3 years
Recognised ESG Frameworks Framework PE: Exit Positioning Boursa Kuwait E: Emissions Intensity,GRI 102: GD Organizational Profile,SASB: Leadership and Governance,SDG 16: Peace Justice and Strong Institutions,WEF Planet: Climate Change,
Annual Report 2022 (Page 45)
Sustainability Report 2022 (Page 15)


Our ESG strategy and focus areas are guided by the leading international standards, including the Global Reporting Initiative (GRI) Standards and the Sustainability Accounting Standards Board (SASB), and they are aligned with the United Nations’ Sustainable Development Goals (UNSDGs). The Bank also considers the priorities of Kuwait Vision 2035 and Boursa Kuwait. The Bank adopts a four-pillar ESG strategy to achieve its sustainability related goals
Supply Chain ESG Influence Ratings Focus Process Optimization Supply Chain Boursa Kuwait G: Supplier Code of Conduct,BRSR Principle 1: Ethical Transparent and Accountable,BRSR Principle 3: Promote Well-being ,CDP: Climate,GRI 102: GD Organizational Profile,SASB: Business Model and Innovation,SDG 08: Decent Work and Economic Growth,WEF Governance: Stakeholder Engagement,
Sustainability Report 2022 (Page 56)


Burgan Bank’s main areas of focus are the mitigation of adverse social and environmental effects along the entire supply chain which is achieved by implementing responsible procurement procedures. This entails upholding the highest ethical standards in all purchases practices of the Bank. Burgan Bank envisages further integration of ESG principles into its procurement decisions and supply chain management beyond just the Supplier Code of Conduct, which is part of the Procurement Policy. Burgan Bank intends to formalize supplier screening on sustainability aspects in the coming years while it continues to include some of the of the ESG criteria in suppliers’ contracts
Standalone Sustainability / ESG Report Metrics Boursa Kuwait G: Sustainability Reporting,GRI 102: GD Reporting Practice,SASB: Leadership and Governance,SDG 17: Partnerships to achieve the Goal,WEF Governance: Risk and Opportunity Oversight,
Sustainability Report 2022
Sustainability Report 2021
Company Website - Investor Relations - Sustainability
A : 88
B : 22.73
ESG reporting since 2019. The Sustainability Report 2022 includes Environment, Social and Governance (ESG) performance data for the most material issues. It exemplifies the vision of the Bank to be the best-of-class financial service provider in the Kuwait market through sustained execution of best-in-class practices, innovation and stakeholder care
Gender Pay, Diversity and Inclusions Report Ratings Focus Diversity and Equality Boursa Kuwait G: Sustainability Reporting,GRI 405: Diversity and Equal Opportunity,IFC PS 2: Labour and Working Conditions,SASB: Leadership and Governance,SDG 05: Gender Equality,WEF People: Dignity and Quality,
Annual Report 2022 (Page 52)
Sustainability Report 2022 (Page 34, 36)


There is a strong focus on empowering women, ensuring that women are treated with respect, equality and paid deservedly. Female employees account for 47% of the workforce – one of the highest among banks in Kuwait. Burgan Bank is one of the pioneering institutions in Kuwait to become a signatory and endorse the UN’s Women Empowerment Principles (WEPS). Our commitment to diversity and inclusion supports a vibrant workplace that attracts and retains the best talent in a competitive labor market, which ultimately leads to greater organizational resilience through times of change. The Bank recognizes the enormous value of diversity and makes efforts to promote a culture rich in diversity, equality, inclusiveness and non-discrimination
Company Website ESG Links Approach GRI 102: GD Organizational Profile,SASB: Leadership and Governance,SDG 17: Partnerships to achieve the Goal,WEF Governance: Risk and Opportunity Oversight,
Company Website - Corporate Governance
Company Website - Investor Relations - Sustainability


​​​​​​​​​​​​​​​​Burgan Bank (“the Bank”) is committed to the highest standards of corporate governance and recognizes that good governance is pivotal in helping the business to deliver its strategies whilst generating sustainable shareholder value and meeting its obligations towards shareholders and other stakeholders. As an essential part of this commitment, the Bank operates within a well-defined governance structure and embeds governance principles and practices in its operations based upon the four cornerstones of accountability, transparency, fairness and integrity. The Bank follows the guidelines of the Central Bank of Kuwait, which are based on Basel Committee recommendations on Corporate Governance. A rich natural environment and healthy social environment are the foundation of economic and business development and improving people's lives. At Burgan Bank, we acknowledge our responsibility to manage environmental and social risks and to proactively identify opportunities that will help secure the financial well-being of our customers and Kuwait for generations to come. We are expanding our products and services and strengthening our corporate governance structures in recognition of our responsibility to advocate ethics, responsible financing and investing and contributing to protecting the environment and creating sustainable communities. The 2030 Agenda for Sustainable Development, adopted by all United Nations Member States in 2015, provides a shared blueprint for peace and prosperity for people and the planet, now and into the future. Burgan Bank is actively working towards contributing to established goals to make the world a better place to live in.
Company Website Governance Links Approach GRI 102: GD Organizational Profile,SASB: Leadership and Governance,SDG 16: Peace Justice and Strong Institutions,WEF Governance: Risk and Opportunity Oversight,
Company Website - About Burgan Bank - Corporate Governance
Company Website - Investor Relations


​​​​​​​​​​​​​​​​Burgan Bank (“the Bank”) is committed to the highest standards of corporate governance and recognizes that good governance is pivotal in helping the business to deliver its strategies whilst generating sustainable shareholder value and meeting its obligations towards shareholders and other stakeholders. As an essential part of this commitment, the Bank operates within a well-defined governance structure and embeds governance principles and practices in its operations based upon the four cornerstones of accountability, transparency, fairness and integrity. The Bank follows the guidelines of the Central Bank of Kuwait, which are based on Basel Committee recommendations on Corporate Governance. The Bank also counts on the community’s support and partnership in advocating excellence in corporate governance. Hence, the Bank appeals to all other market players for joining the Bank in contributing to a continuous enhancement of its quality by practicing good corporate governance not only for the corporate growth, but also for the prosperity of the State of Kuwait. The provisions under this CG manual shall apply to the Board of Directors, the Executive Management, employees and the service providers of the Bank
Board of Directors
Abdullah Nasser Sabah Al-Ahmad Al-Sabah
Company Website - About Burgan Bank - Corporate Governance - Board of Directors
Annual Report 2022 (Page 59)
Boursa Kuwait Stock Exchange - Management


Sheikh Abdullah Nasser Sabah Al Ahmad Al Sabah (Chairman): Currently the Chairman of Burgan Bank since June 2022, Sheikh Abdullah Nasser Sabah Al Ahmad Al Sabah, also holds several positions such as the Vice Chairman of KAMCO Investment Co. KSC, Board member and Advisor to the Chairman – Kuwait Projects Company Holding (KIPCO) and a Board member at United Gulf Bank – Bahrain. During his time in KAMCO, Sheikh Abdullah led the organic and inorganic expansion plan of Kamco Invest, positioning it as one of the largest asset managers in the MENA region offering integrated investment solutions. Part of the expansion plan included the merger by amalgamation with Global Investment House followed by the successful integration of operations and systems. As a Board member and Advisor to the Chairman of Kuwait Projects Company (Holding), Sheikh Abdullah has supervised the performance of the Executive Management Team and assisted the Board of Directors in reviewing goals, strategies, plans and policies. Sheikh Abdullah has also supervised the implementation of the corporate governance framework in line with the applicable laws and regulation, and ensuring the effectiveness of internal policies and the general framework for risk management on a periodic basis. He is an alumnus of the Royal Military Academy, Sandhurst, UK and has a BSc in Business Administration from the New York Institute of Technology, USA. Sheikh Abdullah Nasser Sabah Al Ahmad Al Sabah is the Chairman of the BCGC Committee which is one of the bank regulatory required governance committees
H.E AbdulKareem El-Kabariti
Company Website - About Burgan Bank - Corporate Governance - Board of Directors
Annual Report 2022 (Page 59)
Boursa Kuwait Stock Exchange - Management


H.E. AbdulKareem El-Kabariti (Non-Executive Board member): Mr. Kabariti has been a Board member of Burgan Bank since 2004 and has 30-plus years of diversified experience in the banking, finance, investment and political sectors. Mr. Kabariti is currently the Chairman of Algeria Gulf Bank – Algeria, a Board member of FIMBank – Malta, a Board member at Burgan Bank – Turkey and a Board member at Jordan Dairy Company – Jordan. Mr. Kabariti was the Chairman of Jordan Kuwait Bank – Jordan for 24 years. Mr. Kabariti was a member of the Jordanian Senate – Head of the Economics and Finance Committee Education (2005–2007), Member of the Jordanian Senate First Deputy to The Speaker (2000–2002), Chief of the Royal Court (1999–2000), Prime Minister, Minister of Foreign Affairs and Minister of Defence (1996–1997), Minister of Foreign Affairs (1995–1996), Head of the Economics and Finance Committee (1993–1995), Member of the Jordanian Parliament (1989–1993) and (1993–1997), Minister of Labour (1991–1993), and Minister of Tourism (1989–1991). Mr. Kabariti holds a Bachelor’s degree in Business Administration with Honors from St. Edwards University – Austin, Texas, USA, 1973. He is also an Honorary Doctor of Business Administration (Hon DBA), from Coventry University – UK. Mr. Kabariti is a member of the BAC Committee of Burgan Bank
Mazen Issam Hawwa
Company Website - About Burgan Bank - Corporate Governance - Board of Directors
Annual Report 2022 (Page 60)
Boursa Kuwait Stock Exchange - Management


Mr. Mazen Issam Hawwa (Non-Executive Board member): Mr. Hawwa is a Senior Executive with over 25 years of multi-facet experience in various industries including real estate and financial services. He has been serving as United Real Estate Company (URC) Vice-Chairman and Group Chief Executive Officer since 2020 and sits on the Board of its several group companies. Mr. Hawwa joined KIPCO Group as part of the finance and accounts team in 2001 and was last the Deputy Group Chief Operating Officer leading finance and operations. He also serves on the Board of several KIPCO operating subsidiaries providing leadership, advice on strategic directives, financial planning, and governance. Mr. Hawwa holds an Executive MBA from HEC Paris and is a graduate of the Lebanese American University. He has attended several executive education programmes, including the General Management Program at Harvard Business School, and holds professional qualifications from prominent US-based institutions. Mr. Hawwa is a member of the BAC Committee, BRC Committee and BNRC Committee of Burgan Bank
Fouad Douglas
Company Website - About Burgan Bank - Corporate Governance - Board of Directors
Annual Report 2022 (Page 60)
Boursa Kuwait Stock Exchange - Management


Mr. Fouad Husni Douglas (Independent Board member): Mr. Douglas has been a Board member of Burgan Bank since 2019 and has over 30+ years of diversified experience in the banking, audit, and investment sectors. Mr. Douglas is currently a Board Audit Committee member at Abu Dhabi Health Services Co – UAE, an Independent Audit Committee member of Abu Dhabi National Exhibition Services and a Board member at Burgan Bank Turkey. Before joining Burgan Bank, Mr. Douglas was Financial Services Leader at Deloitte & Touche – Toronto Office, and a Partner at Arthur Andersen – Kuwait, Ernst & Young – Kuwait and Price Waterhouse Coopers – Kuwait. He also served on the Board of Ernst & Young – Kuwait and Price Waterhouse Coopers – Kuwait. Mr. Douglas holds a Bachelor of Business Administration and a Masters of Business Administration from the American University of Beirut, Lebanon. Mr. Douglas is a Certified Public Accountant (New York, 1988) and a Chartered Accountant (Canada, 1992). Mr. Douglas is an Independent Board member, Chairman of the BAC Committee and a member of the BRC Committee of Burgan Bank
Amani Khalid Bouresli
Company Website - About Burgan Bank - Corporate Governance - Board of Directors
Annual Report 2022 (Page 61)
Boursa Kuwait Stock Exchange - Management


Dr. Amani Khalid Bouresli (Independent Board member): Dr. Bouresli, formerly the Kuwait Minister of Commerce and the Minister of Planning and Development Affairs, has more than 30 years of experience in training, consulting and banking. Dr. Bouresli is the Chairperson of the IB Capital Board of Directors, and a Board member at the Ithmaar Bank and Faisal Islamic Bank of Egypt. She is currently a Professor of Finance at Kuwait University’s College of Business Administration. She served as a Member of the Board of Trustees at the Kuwait Transparency Association. She earned the 2018 Kuwaiti Economic Researcher Award sponsored by the Central Bank of Kuwait and the Middle East Excellence Award in business administration and economics. She is the founder of the Governance Excellency Prize. Dr. Bouresli was the Founder and Chairperson of Capital Standards Rating Co., from 2009 to 2011; a Board member at Burgan Bank, Kuwait, from 2010 to 2011; and Head of the Capital Market Authority Project from 2006 to 2007. Dr. Bouresli, began her banking career at the National Bank of Kuwait in 1987, and her teaching career at Kuwait University in 1988. Dr. Bouresli holds a Bachelor's degree in Finance and Banking from Kuwait University; an MBA from Seattle University, USA; and a PhD in Corporate Finance from Southern Illinois University at Carbondale, USA. Dr. Bouresli is an independent Board member, Chairman of the BRC Committee and a member of the BNRC Committee of Burgan Bank
Sager Abdullah Al-Sharhan
Company Website - About Burgan Bank - Corporate Governance - Board of Directors
Annual Report 2022 (Page 61)
Boursa Kuwait Stock Exchange - Management


Mr. Sager Abdullah Al Sharhan (Independent Board member): Mr. Al Sharhan is the Chairman & CEO of Al Mutatawera Services Holding Company. He has over 30 years of diversified experience in the Banking, Oil & Gas, Education Management, and Investment sectors. Mr. Al Sharhan is a Board member of the Private Universities Union Secretary, Australian University Industrial Advisory Board, Saudi Makamin and Al Mutatawera Services Holding Company. He was previously the Chairman and Managing Director of Al Dorra Petroleum Company and also the Managing Director of the Metal and Recycling Company. Mr. Al Sharhan holds a Bachelor's degree in Mechanical Engineering, from the University of Kuwait, College of Engineering. Mr. Al Sharhan is an independent Board member, and a member of the BCIC Committee of Burgan Bank
Faisal Mansour Sarkhou
Company Website - About Burgan Bank - Corporate Governance - Board of Directors
Annual Report 2022 (Page 61)
Boursa Kuwait Stock Exchange - Management


Mr. Faisal M. Sarkhou (Vice Chairman): Mr. Sarkhou has been the Chief Executive Officer of Kamco Invest since 2014 and has led the company to become one of the key players in the regional financial services sector with extensive experience in investment banking and asset management. He joined Kamco in 2000 and has held several managerial positions including Head of Corporate Finance and Head of Financial Services & Investments. Earlier in his career, he was a member of the Corporate Finance Team at KPMG in Kuwait. He sits on the board of several reputable companies, member of Advisory Boards and Executive Committees and is a prominent speaker in various investment forums. Mr. Sarkhou holds a BSc Economics degree from the University of Birmingham, UK and an EMBA with distinction from HEC Paris, France. Mr. Sarkhou is a member of the BNRC Committee and BCIC Committee of Burgan Bank
Michel A. Accad
Company Website - About Burgan Bank - Corporate Governance - Board of Directors
Annual Report 2022 (Page 62)
Boursa Kuwait Stock Exchange - Management


Mr. Michel A. Accad (Independent Board member): Mr. Accad is the Executive General Manager (Group Chief Executive Officer) of BankMed and has more than 30 years of diversified experience in the banking and investment sectors. He was the Chief Executive Officer of Ahli Bank of Kuwait from 2014 through 2019. From 2009 to 2014 he served as CEO of the Gulf Bank of Kuwait and oversaw its turnaround following the 2008 crisis and was the assistant CEO for Arab Bank PLC. Prior to that, he is a 27-year veteran of Citigroup. His last post was as Managing Director and CEO for the Middle East and North Africa Division; before that, he was the Country Head for Egypt and Regional Head for North & West Africa; and from the mid-1980s to 2000, he held various CEO and Country Head positions, including Nigeria. Mr. Accad is a Board member of BankMed (2019–2020); Chairman of BankMed Suisse and T-Bank (from 2020) and was a Board member of ABK-Egypt and Al-Ahli Capital Investment Company (2014–2020) and was Board member of Europe Arab Bank (2006–2009); Arab Tunisian Bank (2006–2007), and its Chairman in 2008); and Arab Invest (2006–2008). Mr. Accad holds a Master’s in Business Administration from the University of Texas at Austin. Mr. Accad is an independent Board member, and a member of the BRC Committee of Burgan Bank
Abdullah Mohammed AlSharekh
Company Website - About Burgan Bank - Corporate Governance - Board of Directors
Annual Report 2022 (Page 62)
Boursa Kuwait Stock Exchange - Management


Mr. Abdullah Mohammed AlSharekh (Non-Executive Board member): Mr. AlSharekh currently holds the position of Managing Director of Markets & Investment Banking at Kamco Investment Co. KSC, in addition to the position of Vice Chairman at First Securities Brokerage Company KSC (Oula Wasata), both since 2020. Prior to joining Kamco Invest, AlSharekh led the Economic & Investment team of the Hareer and Boubyan Development Agency and was Managing Director at Sharq Capital. Before that, he held several executive positions with key international and regional financial institutions including Executive Director at the Securities Division of Goldman Sachs, Executive Manager of Corporate Banking at the National Bank of Kuwait, in addition to Investment Banking at NBK Capital. He also worked for the Fixed Income Trading Group of Brown Brothers Harriman on Wall Street and the M&A Execution Team of HSBC in London. Mr. AlSharekh holds a dual BA in Economics and Public & Private Sector Organisations from Brown University, USA and a dual MBA in Finance and Entrepreneurial Management from The Wharton School, University of Pennsylvania, USA. Mr. AlSharekh is a member of the BAC Committee and BCGC Committee of Burgan Bankttee and BCGC Committee of Burgan Bank
Environment
Environment Strategy in Place Climate Environment Strategy Boursa Kuwait E: Oversight,GRI 307: Environmental Compliance,IFC PS 1: Environmental and Social Risks and Impacts,IIRF: Intellectual Capital,SASB: Environment,SDG 11: Sustainable Cities and Communities,SDG 13: Climate Action,TCFD: Strategy,UNGC Principle 07 Environment ,WEF Planet: Climate Change,
Sustainability Report 2022 (Page 63)
Sustainability Report 2022 (Page 18)
Annual Report 2022 (Page 45)


Burgan Bank is adapting and operating in an ever-changing ESG landscape. The Bank focuses on minimising its environmental footprint. We are committed to contributing to the national and global climate agenda. As energy and climate are intertwined, we start by looking inward by measuring and reducing our energy consumption. Burgan Bank has been showing its commitment to climate change, a key environmental pillar, by participating in the worldwide World Earth Day. It observes the day by turning off all non-essential lights and turning off the power in most of its branches for an hour as part of its ongoing efforts to promote environmental awareness; As part of its commitment to environment, Burgan Bank continues to work to reduce the environmental footprint of its operations, investment portfolio and supply chain. The Bank focuses on energy efficiency, emissions reduction and waste minimization in accordance with its ESG strategy
Environmental Reporting Environment Ratings Focus Strategy CDP: Climate,GRI 102: GD Reporting Practice,IIRF: Natural Capital,SASB: Environment,SDG 12: Responsible Consumption and Production,WEF Planet: Nature Loss,
Sustainability Report 2022 (Page 63, 64)


Environmental reporting has been done in the sustainability report 2022 on energy and waste
Environmental Policy and Commitments Policies
Sustainability Report 2022 (Page 18)


As part of its commitment to environment, Burgan Bank continues to work to reduce the environmental footprint of its operations, investment portfolio and supply chain. The Bank focuses on energy efficiency, emissions reduction and waste minimization in accordance with its ESG strategy
Environmental Covenanted Financing Environment Financing Metrics GRI 102: GD Strategy,IIRF: Financial Capital,SASB: Business Model and Innovation,SDG 08: Decent Work and Economic Growth,TCFD: Strategy,WEF Governance: Risk and Opportunity Oversight,
Sustainability Report 2022 (Page 65)
Company Website - Investor Relations - Sustainability - Sustainable Financing Framework


The Bank has established a Sustainable Financing framework to finance projects that will deliver environment and social benefits
Sustainable Finance Implementation and Targets Financial Institutions Boursa Kuwait E: Oversight,GRI 102: GD Strategy,IFC PS 3: Resource Efficiency and Pollution Prevention,IIRF: Manufactured Capital,SASB: Business Model and Innovation,SDG 09: Industry Innovation and Infrastructure,WEF Governance: Risk and Opportunity Oversight,
Sustainability Report 2022 (Page 65)
Company Website - Investor Relations - Sustainability - Sustainable Financing Framework


Burgan Bank is the first bank in Kuwait to create a Sustainable Financing Framework to be used to finance projects that will deliver environment and social benefits in alignment with its vision and business strategy. The Framework governs the deployment of proceeds obtained from the issuance of Green, Social or Sustainability Bonds and Loans in alignment with the Sustainability Bond Guidelines 2021, Green Bond Principles 2021, Social Bond Principles 2021, Green Loan Principles 2021, and Social Loan Principles 2021. Burgan Bank has obtained a Second-Party Opinion from Sustainalytics in February 2022 on the Framework’s environmental and social credentials and its alignment with these principles. Burgan will aim to adhere to best market practices (where possible) and review the Framework’s alignment with the most updated version of the principles as and when they are released. The Bank’s sustainable financing framework has been developed to support projects/companies primarily focused on the defined ESG aspects
Providing Sustainability Related Loans Financial Institutions Boursa Kuwait E: Operations,GRI 102: GD Strategy,IFC PS 3: Resource Efficiency and Pollution Prevention,IIRF: Manufactured Capital,SASB: Business Model and Innovation,SDG 09: Industry Innovation and Infrastructure,WEF Governance: Risk and Opportunity Oversight,
Sustainability Report 2022 (Page 65)
Company Website - Investor Relations - Sustainability - Sustainable Financing Framework


Burgan Bank is the first bank in Kuwait to create a Sustainable Financing Framework to be used to finance projects that will deliver environment and social benefits in alignment with its vision and business strategy. Burgan financed projects valued at KD 22 million in 2022. These projects were related to renewable energy and plantation work in Kuwait
Facilitating other Sustainability Financing Solutions Financial Institutions Boursa Kuwait E: Operations,GRI 102: GD Strategy,IFC PS 3: Resource Efficiency and Pollution Prevention,IIRF: Manufactured Capital,SASB: Business Model and Innovation,SDG 08: Decent Work and Economic Growth,WEF Governance: Risk and Opportunity Oversight,
Sustainability Report 2022 (Page 53)


Burgan acknowledges the importance of small and medium enterprises (SMEs) for the long-term growth of the economy. Burgan is fully committed to New Kuwait Vision 2035 and aims to continue supporting SMEs and their diverse needs. Burgan bank has a dedicated SME unit which understands the business needs of the SME segment and provides products and services accordingly. Burgan further caters to the SME merchants through its digital solutions such as Tijarati and Cash management apps. We will continue our support to the SME sector as key component of our country’s socio-economic development and employment generation. As a part of our inclusion and responsible lending effort we have developed focused banking solutions for the SMEs segment and we provide them different banking solutions. The Bank’s B-Dinar accounts and cards for low-income individuals, covered as part of its commitment to ensuring the financial inclusion reached 177,905 in 2022
Sustainability Retail Products/Service Financial Institutions Boursa Kuwait E: Operations,GRI 102: GD Strategy,IIRF: Manufactured Capital,SASB: Business Model and Innovation,SDG 12: Responsible Consumption and Production,WEF Governance: Risk and Opportunity Oversight,
Sustainability Report 2022 (Page 18)


Burgan Bank strives to promote financially and environmentally sustainable banking products and services, deliver innovative products and services to customers while ensuring data privacy and security. The Bank encourages investment in the SME sector as a sustainable means to grow the economy, as well as looks for ways to service the unbanked or underbanked communities as a part of its commitment towards financial inclusion. As it moves forward in its sustainability journey the bank also seeks to incorporate ESG considerations in the Risk Assessment Framework for qualitative credit/ investment analysis
Sustainability Criteria in Risk Management Process Financial Institutions Boursa Kuwait E: Oversight,GRI 102: GD Strategy,IFC PS 1: Environmental and Social Risks and Impacts,IIRF: Financial Capital,SASB: Leadership and Governance,SDG 09: Industry Innovation and Infrastructure,WEF Governance: Risk and Opportunity Oversight,
Sustainability Report 2022 (Page 27, 28)


Burgan Bank fosters a culture of risk awareness and has embedded risk management in its operations. The Bank has an independent Risk Management Group (RMG) which is headed by Group Chief Risk Officer (GCRO) who reports directly to the Board Risk Committee (BRC). The key for Burgan Bank is to manage the businesses and their risks in a way that meets the needs and interests of the bank’s customers, while protecting the safety and soundness of the bank in accordance with the Risk Appetite
Material Usage Initiatives Climate Environment Resource Efficiency Boursa Kuwait E: Operations,BRSR Principle 2: Sustainable and Safe,GRI 301: Materials,IFC PS 1: Environmental and Social Risks and Impacts,IIRF: Manufactured Capital,SASB: Business Model and Innovation,SDG 12: Responsible Consumption and Production,UNGC Principle 08 Environment ,WEF Planet: Climate Change,
Sustainability Report 2021 (Page 49)


Burgan Bank is fully committed to play an active role in reducing the consumption of natural resources in business operations and minimizing negative impacts on our environment
Sources of Water Climate Environment Boursa Kuwait E: Water Usage,BRSR Principle 6: Protect and Restore Environment ,CDP: Water ,GRI 303: Water and Effluence,IIRF: Natural Capital,SASB: Environment,SDG 06: Clean Water and Sanitation,UNGC Principle 08 Environment ,WEF Planet: Freshwater Availability,
Sustainability Report 2022 (Page 64)


Burgan Bank uses water only for drinking, office sanitation and cleaning. Water is purchased from government facilities
Protecting Land, Natural Resources and Biodiversity Climate Environment Ratings Focus Resource Efficiency Boursa Kuwait E: Operations,BRSR Principle 6: Protect and Restore Environment ,CDP: Forests,GRI 413: Local Communities,IFC PS 6: Biodiversity and Living Natural Resources,IIRF: Natural Capital,SASB: Environment,SDG 11: Sustainable Cities and Communities,UNGC Principle 08 Environment ,WEF Planet: Resource Availability,
Annual Report 2020 (Page 34)


Burgan Bank organized a beach clean-up drive under the theme “Driven by you… Motivated by Sustainability” at the Al-Salam beach in Shuwaikh in collaboration with ‘Mw6iny’ and under the support of, Green Hands Environmental Team and Kuwait Dive Team. Advocating for the conservation and restoration of Kuwait’s marine environment, Burgan Bank top management, staff and their kids including other volunteers participated in this initiative. Driven by the belief that efforts to preserve the country’s ecosystem ensure the longevity of cultural heritage for future generations, the event also helped to raise awareness of the health dangers of pollutants, plastic waste and hazardous substances if neglected. As part of its mission to rectify unhealthy practices and inspire an environmentally conscious community, Burgan Bank adopted the national campaign in cooperation with “Saveq8c” team to protect and clean Kuwait's beaches. The active team of “Saveq8c” has made waves in a short span of time by engaging the community through activities and strong messages and social media campaign focusing on the importance of the preservation of Kuwait’s pristine beaches and marine life. This grassroots activity motivated people from all parts of the community, ranging from the youth, adults and children who participated in the waste collection from various beaches and shared it with the team
Energy Efficiency Initiatives Climate Energy Environment Process Optimization Boursa Kuwait E: Energy Usage,BRSR Principle 6: Protect and Restore Environment ,CDP: Climate,GRI 302: Energy,IFC PS 3: Resource Efficiency and Pollution Prevention,IIRF: Manufactured Capital,SASB: Business Model and Innovation,SDG 07: Affordable and Clean Energy,TCFD: Metrics and Targets,UNGC Principle 08 Environment ,WEF Planet: Climate Change,
Sustainability Report 2022 (Page 63)


Burgan Banks direct and indirect energy consumption consists primarily of high-speed diesel and purchased electricity respectively. The Bank has significantly decreased its total energy consumption as compared to last year by emphasizing on optimizing energy use and initiating energy efficiency initiatives throughout the operations. In 2022, Burgan Bank undertook the initiative of installing occupancy sensor lights and motion sensor lights in identified areas at the Burgan Head office building. It is expected to result in significant reduction in power consumption beyond the business hours. By 2024, this initiative will also be rolled out to all the branches. The Bank external signages and lights have also been migrated to solar powered in 2022
Energy Consumption and Savings Climate Energy Environment Metrics PE: Operating Performance Process Optimization Ratings Focus Boursa Kuwait E: Energy Usage,BRSR Principle 6: Protect and Restore Environment ,CDP: Climate,GRI 302: Energy,IFC PS 3: Resource Efficiency and Pollution Prevention,IIRF: Manufactured Capital,SASB: Business Model and Innovation,SDG 07: Affordable and Clean Energy,TCFD: Metrics and Targets,WEF Planet: Climate Change,
Sustainability Report 2022 (Page 63)
Sustainability Report 2021 (Page 49)
A : 25469
B : 31354
Total energy consumption: 25,469.3 (GJ); Energy savings initiatives by the Bank have helped reduce energy consumption by 18.7%. All the activities have helped reduce total energy consumption by 19% and specific energy consumption by 22%. In 2022, energy intensity per employee also reduced from 38.0 GJ/employee to 30.0 GJ/employee
Amount of Water Usage Climate Environment Metrics PE: Operating Performance Ratings Focus Water Preservation Boursa Kuwait E: Water Usage,BRSR Principle 6: Protect and Restore Environment ,CDP: Water ,GRI 303: Water and Effluence,IIRF: Natural Capital,SASB: Environment,SDG 06: Clean Water and Sanitation,TCFD: Metrics and Targets,WEF Planet: Water Pollution,
Sustainability Report 2022 (Page 64)
A : 3472

Burgan Bank uses water only for drinking, office sanitation and cleaning. Water is purchased from government facilities. In 2022, total water consumption was 3,472.3 KL
Water Usage History Climate Environment Metrics Process Outputs Water Preservation Boursa Kuwait E: Water Usage,BRSR Principle 6: Protect and Restore Environment ,CDP: Water ,GRI 303: Water and Effluence,IIRF: Natural Capital,SASB: Environment,SDG 06: Clean Water and Sanitation,TCFD: Metrics and Targets,WEF Planet: Water Pollution,
Sustainability Report 2022 (Page 64)
A : 1

Information on water consumption is available since 2022
Amount of Waste Generated Climate Environment Metrics Process Outputs Ratings Focus Waste Management Boursa Kuwait E: Operations,BRSR Principle 6: Protect and Restore Environment ,CDP: Climate,GRI 306: Effluents and Waste,IIRF: Natural Capital,SASB: Environment,SDG 12: Responsible Consumption and Production,TCFD: Metrics and Targets,WEF Planet: Solid Waste,
Sustainability Report 2022 (Page 64)
A : 146.5
B : 152.4
FY2022 Total Waste generated: 146.5 MT which includes Municipal Waste: 120 MT, Waste Recycled: 26.5 MT; Due to the nature of its business, the Bank does not generate any significant hazardous waste. The electronic waste generated at the facilities is recycled through collection and sale to authorized dealers in the local market. In 2022 the bank recycled 4 tonnes of e-waste
Waste Generation History Climate Environment Metrics Process Outputs Waste Management Boursa Kuwait E: Operations,BRSR Principle 6: Protect and Restore Environment ,GRI 306: Effluents and Waste,IIRF: Manufactured Capital,SASB: Environment,SDG 12: Responsible Consumption and Production,TCFD: Metrics and Targets,WEF Planet: Solid Waste,
Sustainability Report 2022 (Page 64)
A : 2

Information on waste generated is available since 2021
Waste Reduction Initiatives Climate Environment Process Outputs Waste Management Boursa Kuwait E: Water Usage,BRSR Principle 6: Protect and Restore Environment ,GRI 306: Effluents and Waste,IFC PS 1: Environmental and Social Risks and Impacts,IIRF: Manufactured Capital,SASB: Business Model and Innovation,SDG 12: Responsible Consumption and Production,WEF Planet: Solid Waste,
Sustainability Report 2022 (Page 64)


Effective waste management plays a crucial role, in reducing the Bank’s negative environmental effects, and the Bank has established waste management standards that are implemented throughout the Bank. The Bank is also identifying a number of initiatives to lower waste generation. Due to the nature of its business, the Bank does not generate any significant hazardous waste. The electronic waste generated at the facilities is recycled through collection and sale to authorized dealers in the local market. In a bid to embed the recycling culture within the Bank premises, new recycling bins were placed all over the Bank and its branches in 2022. This is designed to build a habit of waste recycling among the employees as well as general public
Recycling Waste Climate Environment Process Outputs Waste Management Boursa Kuwait E: Operations,BRSR Principle 2: Sustainable and Safe,BRSR Principle 6: Protect and Restore Environment ,GRI 306: Effluents and Waste,IIRF: Manufactured Capital,SASB: Business Model and Innovation,SDG 12: Responsible Consumption and Production,WEF Planet: Solid Waste,
Annual Report 2022 (Page 45)
Sustainability Report 2022 (Page 64)
A : 26.5
B : 28.8
We ensure that no hazardous waste is generated and that all the electronic waste is recycled through collection and sale to authorised dealers. Implemented a bank-wide recycling initiative to ensure proper disposal of all unnecessary papers and documents. Burgan Bank tackles e-waste by recycling responsibly to minimise the impact on the environment. In 2022, the Bank recycled 4 tonnes of E-waste. FY2022 Waste Recycled: 26.5 MT
E-Waste Management E-waste
Sustainability Report 2022 (Page 64)
A : 4

The electronic waste generated at the facilities is recycled through collection and sale to authorized dealers in the local market. Burgan Bank tackles e-waste by recycling responsibly to minimise the impact on the environment. In 2022, the Bank recycled 4 tonnes of E-waste
Social
Social Strategy in Place Strategy GRI 419: Socioeconomic Compliance,IFC PS 1: Environmental and Social Risks and Impacts,IIRF: Human Capital,SASB: Business Model and Innovation,SDG 11: Sustainable Cities and Communities,WEF: Employment and Wealth Generation,
Annual Report 2022 (Page 52)
Sustainability Report 2022 (Page 18)


The Bank’s greatest asset is its people. Through their dedication, quality and collaboration, they are the engine that drives the Bank to deliver excellent customer service, generate long-term value for shareholders and contribute to our community. The Bank is committed to investing in developing and supporting its people to develop their careers in a professional, diverse environment in which they can excel. The Bank continues to expand the digitalisation of HR services to its employees by enhancing and improving Burgani, the HR mobile app, which offers many features such as employee self-service, onboarding for new joiners, internal recruitment opportunities, employee recognition tool, employee offers and announcements. The Bank is committed to investing in a learning culture to provide employees with innovative learning opportunities to help them develop skills and capabilities for greater flexibility in their work; Burgan Bank promotes social inclusion through contribution and participation in community causes with a commitment to support the local community in the areas of health, youth, education, environment, and culture. The Bank works towards advancement of the special needs segment of society, enables women empowerment and undertakes initiatives and activities for fostering financial literacy and participation in the community
Communication of Labour Policy Ratings Focus Social Overview Policies GRI 402: Labour and Management Relations,IIRF: Human Capital,SASB: Human Capital,SDG 11: Sustainable Cities and Communities,UNGC Human Rights: Principle 1,WEF: Employment and Wealth Generation,
Annual Report 2022 (Page 52)


The Bank continues to expand the digitalisation of HR services to its employees by enhancing and improving Burgani, the HR mobile app, which offers many features such as employee self-service, onboarding for new joiners, internal recruitment opportunities, employee recognition tool, employee offers and announcements. The Bank has also digitalised the employee learning experience with the introduction of the “My Learning” app which empowers employees to learn (on-the-go) without being limited to learning during regular working hours
Supplier Responsibility Initiatives Ratings Focus Social Overview Suppliers Supply Chain BRSR Principle 1: Ethical Transparent and Accountable,GRI 308: Supplier Environmental Assessment,IFC PS 1: Environmental and Social Risks and Impacts,IIRF: Human Capital,SASB: Social Capital,SDG 11: Sustainable Cities and Communities,WEF Governance: Stakeholder Engagement,
Sustainability Report 2022 (Page 56)


Burgan Bank’s main areas of focus are the mitigation of adverse social and environmental effects along the entire supply chain which is achieved by implementing responsible procurement procedures. This entails upholding the highest ethical standards in all purchases practices of the Bank. Burgan Bank envisages further integration of ESG principles into its procurement decisions and supply chain management beyond just the Supplier Code of Conduct, which is part of the Procurement Policy
Suppliers Code of Conduct Supply Chain
Sustainability Report 2022 (Page 56)


Burgan Banks Suppliers Code of Conduct aims at extending sustainable business conduct to suppliers enabling sustainable procurement. The Supplier Code of Conduct provides suppliers with a set of responsible business conduct expectations consistent with our ESG efforts. The goal of the Bank is to work collaboratively with Supply chain partners on sustainability
Customer Responsibility Initiatives Ratings Focus Customers Social Overview BRSR Principle 9: Provide Value to Consumers,CDP: Climate,GRI 417: Marketing and Labelling,IFC PS 1: Environmental and Social Risks and Impacts,IIRF: Human Capital,SASB: Social Capital,SDG 11: Sustainable Cities and Communities,WEF Prosperity: Innovation of Products and Services,
Sustainability Report 2022 (Page 47, 48)


Customer focus has been a core value of the bank and delivering excellent customer service has been key to our continued success. As reflected by our tag line “Driven by You” and in line with the revised strategy of the bank, we are institutionalizing a “Customer First” culture at the Bank. Customer First means respecting every customer, addressing their enquiries or complaints on time/every time. To achieve this, the Bank has created an independent Customer Experience Management department to focus on permeating the “Customer First” culture across all businesses of the Bank- Corporate, Wealth management, Private and Retail banking; Burgan Bank believes in open communications with its customers and a plan for closer engagement with our customers is in place. To facilitate this, the Bank has invested in tools and technology
Customer Services Related Policy
Customer's Rights and Responsibilities


Customer's rights and responsibilities are available on company's website
Product/Service Safety and Quality Metrics Social Overview Product Development BRSR Principle 9: Provide Value to Consumers,GRI 417: Marketing and Labelling,IFC PS 4: Community Health Safety and Security,IIRF: Human Capital,SASB: Social Capital,SDG 12: Responsible Consumption and Production,WEF Governance: Stakeholder Engagement,
Company Website - About Us
Sustainability Report 2022 (Page 32)
Company Website - Security & Protection - Banking Awareness


The Bank has continuously strived to improve its performance over the years through maintaining cautious growth in the Bank's key markets, managing franchises by enhancing operating efficiencies and returns, focusing on strong risk management across the group and optimizing capital usage. The Bank was re-certified with the prestigious ISO 9001:2015, making it one of the few banks in the GCC and Kuwait to receive such certification for the fifth consecutive time; ISO certifications highlighting the bank’s high standards of data security; The Central Bank of Kuwait continues its efforts to protect the banking sector customers by enhancing the concept of transparency and providing disclosure in financial and banking transactions. The aim is to create a balanced environment that makes it convenient to safeguard customer rights while protecting the banking sector, guided by the best world practices. Bank has a separate section on Banking Awareness on their website, which includes: Customer Protection guide, Customer Rights & Responsibilities, Client Complaint and Protection Unit, Frequently asked Questions, Security alerts, Tips and Guideline
Diversity and Inclusion Ratings Focus Diversity and Equality Metrics Boursa Kuwait S: Gender Diversity,GRI 413: Local Communities,IFC PS 2: Labour and Working Conditions,IIRF: Human Capital,SASB: Human Capital,SDG 10: Reduced Inequality,UNGC Principle 06 Labour ,WEF People: Dignity and Quality,
Sustainability Report 2022 (Page 34)
A : 47
B : 48
The Bank has exercised best practices over the years leading to a diverse workforce with a strong focus on women empowerment, a well-balanced gender mix, as well as a stable gender-balanced hiring and turnover rate. The total number of women in the workforce has increased from 391 to 403 in 2022 as compared to the previous year representing 47% of the total workforce. In 2022, 63% of the workforce under the age of 30 and 48% of those recruited are females
Board of Directors Gender Composition Board of Directors Diversity and Equality Metrics PE: Operating Performance Ratings Focus Boursa Kuwait S: Gender Diversity,GRI 405: Diversity and Equal Opportunity,IIRF: Human Capital,SASB: Human Capital,SDG 10: Reduced Inequality,UNGC Principle 06 Labour ,WEF Governance: Quality of Governing Body,
Company Website - About Us - Board of Directors
Sustainability Report 2022 (Page 22)
A : 1
B : 9
C : 11.11
1 out of 9 members are female
Senior Management Gender Composition Diversity and Equality Metrics PE: Operating Performance Ratings Focus Boursa Kuwait S: Gender Diversity,GRI 405: Diversity and Equal Opportunity,IIRF: Human Capital,SASB: Human Capital,SDG 05: Gender Equality,UNGC Principle 06 Labour ,WEF: Employment and Wealth Generation,
Company Website - About Burgan Bank - Corporate Governance - Executive Management
Annual Report 2022 (76 - 81)
A : 4
B : 20
C : 20
4 out of the 20 members of senior management are female
Workforce Gender Composition Diversity and Equality Metrics PE: Operating Performance Ratings Focus Boursa Kuwait S: Gender Diversity,GRI 405: Diversity and Equal Opportunity,IIRF: Human Capital,SASB: Human Capital,SDG 05: Gender Equality,UNGC Principle 06 Labour ,WEF People: Skills for the Future,
Sustainability Report 2022 (Page 24)
A : 403
B : 850
C : 48
The total number of women in the workforce has increased from 391 to 403 in 2022 as compared to the previous year representing 47% of the total workforce. In 2022, 63% of the workforce under the age of 30 and 48% of those recruited are females
Net New Hires Employees Metrics PE: Operating Performance
Sustainability Report 2022 (Page 35)
A : 52
B : 48
Employees joined Burgan Bank during 2022: Male: 78 (52%); Female: 72 (48%)
Gender and Diversity Targets and Initiatives Diversity and Equality Boursa Kuwait S: Gender Diversity,GRI 405: Diversity and Equal Opportunity,IFC PS 2: Labour and Working Conditions,SASB: Human Capital,SDG 10: Reduced Inequality,UNGC Principle 06 Labour ,WEF People: Dignity and Quality,
Sustainability Report 2022 (Page 36)


Burgan has been an early proponent of equal and fair treatment of women by providing pay equality to its male and female employees covering all aspects of remuneration and benefits, such as salary, allowances, tickets, medical insurance, educational assistance. Burgan Bank encourages women to take up leadership roles reflected in the fact that 47% of staff promoted to higher roles during the year were females and their representation in top management is 20%
Gender Pay Differentials Addressed and Monitored Ratings Focus Diversity and Equality Metrics Boursa Kuwait S: Gender Pay Ratio,GRI 405: Diversity and Equal Opportunity,IFC PS 2: Labour and Working Conditions,IIRF: Human Capital,SASB: Human Capital,SDG 05: Gender Equality,UNGC Principle 06 Labour ,WEF People: Dignity and Quality,
Sustainability Report 2022 (Page 36)
Annual Report 2022 (Page 52)


Burgan has been an early proponent of equal and fair treatment of women by providing pay equality to its male and female employees covering all aspects of remuneration and benefits, such as salary, allowances, tickets, medical insurance, educational assistance
Emergency Procedure Guidelines Health and Safety BRSR Principle 6: Protect and Restore Environment ,GRI 403: Occupational Health and Safety,IFC PS 2: Labour and Working Conditions,IIRF: Human Capital,SASB: Human Capital,SDG 03: Good Health and Wellbeing,WEF People: Health and Well Being,
Sustainability Report 2021 (Page 51)
Sustainability Report 2022 (Page 41, 42)


In order to test the robustness and strengthen our BCM infrastructure, we have supported and coordinated with the General Security and Premises & Maintenance teams on the Emergency and Safety preparedness for the new Head Office building in raising internal awareness on safety procedures
Staff Turnover Rate Ratings Focus Metrics Operating Ratios Social Overview Boursa Kuwait S: Employee Turnover,BRSR Principle 3: Promote Well-being ,GRI 412: Human Rights Assessment,IFC PS 2: Labour and Working Conditions,IIRF: Human Capital,SASB: Human Capital,SDG 08: Decent Work and Economic Growth,WEF: Employment and Wealth Generation,
Sustainability Report 2022 (Page 35)
A : 7.18
B : 6.82
Turnover rate for FY2022: Male: 7.18%; Female: 6.82%
Parental Leave Policy Policies
Sustainability Report 2022 (Page 40)


The Bank provides its employees with various options to manage life events by offering leaves such as annual leave, sick leave, hospitalization leave, education leave, marriage leave and parental leave. Female employees can avail of maternity leave of 70 calendar days while ensuring their job security. As a pioneering regional practice, male employees are provided five working days as paternity leave to support their family on the birth of their child
Sick Leaves Employees Metrics PE: Operating Performance
Sustainability Report 2022 (Page 40)


The Bank provides its employees with various options to manage life events by offering leaves such as annual leave, sick leave, hospitalization leave, education leave, marriage leave and parental leave; Our employees are also granted special Hospitalisation leave when admitted to the hospital over and above the regulatory sick leaves
Learning Hours Metrics Training
Sustainability Report 2022 (Page 46)
A : 39517
B : 32095
C : 19458
Total Training Hours for 2022: 39,517 hours
Health and Safety Initiatives Ratings Focus Health and Safety Metrics Operating Ratios Boursa Kuwait S: Global Health and Safety,GRI 403: Occupational Health and Safety,IFC PS 1: Environmental and Social Risks and Impacts,IIRF: Human Capital,SASB: Human Capital,SDG 03: Good Health and Wellbeing,WEF People: Health and Well Being,
Sustainability Report 2022 (Page 41, 42)


Burgan Bank works actively to promote good health and provide a safe work environment for our employees. The Bank has rolled out a wellness program for its employees for the second year in a row with a leading health provider. The program aims to promote employee well being by providing access to a wide range of free preventive health checkups to identify any potential health issues and prevent chronic diseases. Case Study: Promoting Health Awareness: As part of its wellness initiatives, we organized campaigns during the year covering topics like breast cancer, prostate cancer and diabetes to increase awareness among our employees, and shed light on ways to prevent and manage the diseases; Embedding the Safety Culture: The Bank is committed to safety and security of employees and customers against armed robbery and crisis situations as well. The Ministry of Interior’s (MOI) Special Forces Department and Burgan Bank collaborated to train branch managers and all the concerned employees in dealing with break-ins and armed robberies. They are also trained in crisis management covering scenarios such as fire, bomb threat, air raid attack, gas or chemical attack, armed robbery, severe weather emergency, personnel crisis, bank robbery, active shooting, and Covid-19 cases
Labour Management Initiatives Workforce Responsibility GRI 402: Labour and Management Relations,IFC PS 2: Labour and Working Conditions,IIRF: Human Capital,SASB: Human Capital,SDG 08: Decent Work and Economic Growth,WEF People: Dignity and Quality,
Sustainability Report 2022 (Page 45)


The nature of learning in our organization has been changed by updating our learning methods, blending classroom learning with digital learning and implementing flipped learning that enhances employee’s critical thinking abilities. Various channels have been incorporated to enhance the learning experience of our employees such as the Burgan LTD digital platform, the learning mobile app as well as classroom and innovation lab facilities. Our Learning and Talent Development (LTD) program includes a wide range of technical and behavioral trainings in the areas such as leadership skills, technical certifications, talent development programs, on the job rotations, coaching and mentoring, holistic banker programs, compliance / risk, health & safety awareness programs, new joiner programs, competency-based programs etc. The increased use of the online learning portal has widened the outreach of LTD initiatives across the organization. Internal knowledge transfer and collaborative learning are crucial components of building a strong learning focused culture. Internal trainers and mentors are key to driving change from within and Burgan organised a special event to honour 91 of its internal trainers and mentors during the year to recognise their efforts
Flexible Working Arrangements for Employees Safe Workplace Workforce Responsibility GRI 403: Occupational Health and Safety,IFC PS 2: Labour and Working Conditions,IIRF: Human Capital,SASB: Human Capital,SDG 03: Good Health and Wellbeing,WEF People: Health and Well Being,
Sustainability Report 2022 (Page 40)
Annual Report 2022 (Page 55)


The Bank understands that work-life balance has an impact on employee commitment and welfare, while enhancing overall employee productivity. Towards the goal of improving work-life balance, the Bank provides its employees with several benefits in the form of leaves, medical and life insurance, disability coverage, education assistance, annual travel allowance, and zero-interest loan. The Bank provides its employees with various options to manage life events by offering leaves such as annual leave, sick leave, hospitalization leave, education leave, marriage leave and parental leave. Our employees can avail of a five working day special marriage leave. Female employees can avail of maternity leave of 70 calendar days while ensuring their job security. As a pioneering regional practice, male employees are provided five working days as paternity leave to support their family on the birth of their child. Our employees are also granted special Hospitalisation leave when admitted to the hospital over and above the regulatory sick leaves. In addition, our employees have the privilege of flexible working hours, known as Flexitime, which provides our employees with the option of work schedules best suited to their circumstances and personal needs
Fair Wage, Benefits and Contracts Workforce Responsibility BRSR Principle 3: Promote Well-being ,BRSR Principle 5: Human Rights ,GRI 401: Employment,IFC PS 2: Labour and Working Conditions,IIRF: Human Capital,SASB: Human Capital,SDG 08: Decent Work and Economic Growth,UNGC Principle 02 Human Rights,WEF People: Dignity and Quality,
Sustainability Report 2022 (Page 39, 40)


The Bank is keen to provide a healthy work environment and continuous support to its employees by promoting work flexibility, benefits, and wellbeing. The Bank understands that work-life balance has an impact on employee commitment and welfare, while enhancing overall employee productivity. Towards the goal of improving work-life balance, the Bank provides its employees with several benefits in the form of leaves, medical and life insurance, disability coverage, education assistance, annual travel allowance, and zero-interest loan. Senior executives are also provided health club membership
Talent Attraction and Retention Diversity and Equality Workforce Responsibility BRSR Principle 3: Promote Well-being ,GRI 401: Employment,IFC PS 2: Labour and Working Conditions,IIRF: Human Capital,SASB: Human Capital,SDG 08: Decent Work and Economic Growth,WEF People: Skills for the Future,
Annual Report 2022 (Page 28)
Sustainability Report 2022 (Page 34, 44)


Burgan recognises that attracting, developing and retaining top talent are the key drivers of its success; Our commitment to diversity and inclusion supports a vibrant workplace that attracts and retains the best talent in a competitive labor market, which ultimately leads to greater organizational resilience through times of change; Burgan Bank continually nurtures talent and empowers them to become future leaders to ensure the operations of the Bank run smoothly with minimum disruption in the event of leadership changes. In 2022, Burgan continued to deliver on the core objective of developing talent and building future leaders through a wide range of technical and behavioural programs. Key achievements towards Talent Development & Succession planning are Ro2ya program and Holistic Banker program
Fair Working and Living Conditions Workforce Responsibility BRSR Principle 3: Promote Well-being ,GRI 412: Human Rights Assessment,IFC PS 2: Labour and Working Conditions,IIRF: Human Capital,SASB: Human Capital,SDG 08: Decent Work and Economic Growth,UNGC Principle 02 Human Rights,WEF People: Dignity and Quality,
Sustainability Report 2022 (Page 40)


The Bank understands that work-life balance has an impact on employee commitment and welfare, while enhancing overall employee productivity. Towards the goal of improving work-life balance, the Bank provides its employees with several benefits in the form of leaves, medical and life insurance, disability coverage, education assistance, annual travel allowance, and zero-interest loan. Senior executives are also provided health club membership. We also provide pensions to Kuwaiti nationals as stipulated in Social Security Rules, and indemnity is provided to all staff as per Kuwait Private Sector Labor Law
Employee Well Being Programs PE: Exit Positioning Workforce Responsibility GRI 401: Employment,IFC PS 2: Labour and Working Conditions,IIRF: Human Capital,SASB: Human Capital,SDG 03: Good Health and Wellbeing,WEF People: Health and Well Being,
Sustainability Report 2022 (Page 41)
Annual Report 2022 (Page 55)


Burgan Bank works actively to promote good health and provide a safe work environment for our employees. The Bank has rolled out a wellness program for its employees for the second year in a row with a leading health provider. The program aims to promote employee well being by providing access to a wide range of free preventive health checkups to identify any potential health issues and prevent chronic diseases. Promoting Health Awareness: As part of its wellness initiatives, we organized campaigns during the year covering topics like breast cancer, prostate cancer and diabetes to increase awareness among our employees, and shed light on ways to prevent and manage the diseases; The Bank continues to enhance its health and wellness programmes, providing a comprehensive range of free preventive health check-ups
Employee Engagement Initiatives Ratings Focus Workforce Responsibility BRSR Principle 3: Promote Well-being ,GRI 413: Local Communities,IFC PS 2: Labour and Working Conditions,IIRF: Human Capital,SASB: Human Capital,SDG 03: Good Health and Wellbeing,WEF People: Skills for the Future,
Annual Report 2022 (Page 55)


The Bank encourages open, honest feedback from employees to formulate future strategy and its implementation. The Bank’s commitment to facilitating a positive and engaging work environment that serves its employees’ needs inspired the launch of the new mobile Rewards Store app that is available to all employees. The Human Resources team launched the HR business partnering initiative to enhance engagement and understand the business needs to be a change agent in the organisation. In 2022, the Bank conducted several surveys covering organisational culture, risk culture, vision and mission as well as onboarding. Response rates across all surveys were over 68%, demonstrating an engaged and communicative workforce, and this feedback has helped the Bank to continually adapt to support the needs of its employees. Communities have been established through various sports and social clubs, such as bowling, football, reading, film, and digital bulletin boards to drive cohesiveness among its employees through shared common interests
Formal Employee Feedback Employees Feedback
Annual Report 2022 (Page 55)


In 2022, the Bank conducted several surveys covering organisational culture, risk culture, vision and mission as well as onboarding. Response rates across all surveys were over 68%, demonstrating an engaged and communicative workforce, and this feedback has helped the Bank to continually adapt to support the needs of its employees
Employee Performance Appraisal Ratings Focus Workforce Responsibility GRI 102: GD Governance,IFC PS 2: Labour and Working Conditions,IIRF: Human Capital,SASB: Leadership and Governance,SDG 17: Partnerships to achieve the Goal,WEF Governance: Quality of Governing Body,
Annual Report 2022 (Page 103)
Annual Report 2022 (Page 54)


The banks remuneration practices are linked to both short term and long term performance goals. Key financial and non-financial performance measures are aligned to the Bank’s business strategy. Performance based remuneration is based on the bonus pools allocated by the BNRC/Board for the purpose of rewarding employee performance. The rewards are based on the bank’s overall performance, department/group performance and individual contribution thereof. The senior management team’s performance is measured through balanced scorecard which reviews the key performance areas of Customer focus, financial performance, process improvement and people management. All other employees in the bank have annual performance appraisals assessing financial and non-financial objectives based on their roles; A pay-for-performance approach strives to recognise and reward performance with competitive and fair pay. Burgan Bank participates in periodic salary surveys through Kuwait Banking Association and takes relevant measures to align its remuneration to market best practices. The Bank revised the benefits of its employees to maintain a competitive edge in the market to attract local talents with the best compensation schemes
Employee Performance Reviews Employees
Sustainability Report 2022 (Page 39)


The Bank stands for a pay-for-performance approach and rewards performance with fair and competitive compensation aimed at creating a positive work culture and motivating the talent pool. All employees receive regular performance and career development reviews
Long-term Incentive Program for Senior Management Ratings Focus Social Overview GRI 102: GD Governance,IFC PS 2: Labour and Working Conditions,IIRF: Human Capital,SASB: Leadership and Governance,SDG 17: Partnerships to achieve the Goal,WEF Governance: Quality of Governing Body,
Annual Report 2022 (Page 103)


Risk being a key factor in determining the sustainability of long term performance the deferral of remuneration is essential to improving risk alignment in the remuneration package. The deferral of remuneration currently applies to staff identified such as the Vice Chairman & Group CEO (VC & GCEO) and Deputy Group CEO & CEO Kuwait and senior management team. Deferral Amount: A portion of the variable remuneration component not exceeding 50%, should be deferred over an appropriate period of time; Deferral Period: the deferred portion of the variable remuneration should be spread over a period not exceeding five years, and is to be aligned with the nature of the business, its risks and the activities of the member of staff in question. The actual payment of variable remuneration is spread over a period which takes account of the underlying business cycle of the Bank and its business risks; The deferral portion and percentage may be adjusted in accordance with the level of seniority or responsibility of the person remunerated; The deferral schedule is defined by different components: the time horizon of the deferral; the proportion of the variable remuneration that is being deferred; the speed at which the deferred remuneration vests (vesting process) and the time span from accrual until the payment of the first deferred amount; the form of the deferred variable remuneration
Workforce Training PE: Operating Performance Ratings Focus Training Workforce Responsibility BRSR Principle 1: Ethical Transparent and Accountable,BRSR Principle 3: Promote Well-being ,GRI 404: Training and Education,IFC PS 2: Labour and Working Conditions,IIRF: Human Capital,SASB: Human Capital,SDG 04: Quality Education,WEF People: Skills for the Future,
Sustainability Report 2022 (Page 45, 46)
A : 39517

Our Learning and Talent Development (LTD) program includes a wide range of technical and behavioral trainings in the areas such as leadership skills, technical certifications, talent development programs, on the job rotations, coaching and mentoring, holistic banker programs, compliance / risk, health & safety awareness programs, new joiner programs, competency-based programs etc. The increased use of the online learning portal has widened the outreach of LTD initiatives across the organization. Internal knowledge transfer and collaborative learning are crucial components of building a strong learning focused culture. Internal trainers and mentors are key to driving change from within and Burgan organised a special event to honour 91 of its internal trainers and mentors during the year to recognise their efforts; 395 of Burgan Bank’s employees attended power skills programs; 404 employees have attended technical training programs; 52 employees are certified in programs that are related to retail, operations, risk management, AML & AFC, internal control and audit as well as ESG; 953 employees attended risk related programs to build a risk culture within the Bank
Respecting Employee Rights Ratings Focus Safe Workplace BRSR Principle 5: Human Rights ,GRI 412: Human Rights Assessment,IFC PS 2: Labour and Working Conditions,IIRF: Human Capital,SASB: Social Capital,SDG 10: Reduced Inequality,UNGC Principle 01 Human Rights ,WEF People: Dignity and Quality,
Sustainability Report 2022 (Page 26)


Burgan bank is committed to respecting, protecting and advancing human rights, within our organizational practices, culture, operations and investment choices and in all regions in which we do business. Burgan bank has worked to contribute to society, protect human rights, and serve clients’ and communities’ financial and investment needs. Burgan bank is now in the early stages of formalizing our commitment to respect and protect human rights
Broader Education Initiatives Training Workforce Responsibility BRSR Principle 1: Ethical Transparent and Accountable,BRSR Principle 5: Human Rights ,GRI 404: Training and Education,IFC PS 2: Labour and Working Conditions,IIRF: Human Capital,SASB: Human Capital,SDG 10: Reduced Inequality,WEF People: Skills for the Future,
Sustainability Report 2022 (Page 37)


Burgan Bank continues to play an active role for women wellbeing through wellness initiatives throughout the year. The bank worked towards increasing Breast Cancer awareness through a month-long campaign during which the Bank’s head office was lit up in pink to commemorate breast cancer patients and survivors and support those battling the disease. The Bank has designed several important initiatives, such as organizing a preventive health awareness workshop for its employees as part of its breast cancer awareness campaign. Sports form an important part of women and their wellbeing. The Bank sponsored the first Football League for Young Women Under 18 in cooperation with the Kuwait Football Association and supported three women Kuwaiti athletes on their journey to the Olympics to demonstrate its support for women’s empowerment, sports, and youth development
Preventing Child Labour Safe Workplace Boursa Kuwait S: Child and Forced Labour,BRSR Principle 5: Human Rights ,GRI 408: Child Labour,IFC PS 2: Labour and Working Conditions,IIRF: Intellectual Capital,SASB: Social Capital,SDG 10: Reduced Inequality,UNGC Principle 05 Labour ,WEF People: Dignity and Quality,
Sustainability Report 2022 (Page 84)


We follow all applicable laws with respect to child labour and and expect our suppliers as well to follow it
Anti Discrimination Workplace Ratings Focus Safe Workplace Boursa Kuwait S: Non Discrimination,BRSR Principle 3: Promote Well-being ,BRSR Principle 5: Human Rights ,GRI 406: Non-discrimination,IFC PS 2: Labour and Working Conditions,IIRF: Intellectual Capital,SASB: Human Capital,SDG 10: Reduced Inequality,UNGC Principle 06 Labour ,WEF People: Dignity and Quality,
Sustainability Report 2022 (Page 38)
Code of Conduct - Employees (Page 10)


At Burgan Bank, we are committed to maintaining a workplace that is free from discrimination. We have implemented practices and policies to foster a diverse culture in the bank. As a result of these efforts, we are proud to report that we had zero cases of discrimination reported during the year. We have adopted a non-discrimination policy that ensures all employees are entitled to equal benefits, regardless of their gender, religion, or race. Our dedicated policy and procedure document, “Staff Grievance and Problem Solving,” provides a mechanism for employees to report any grievance or concerns. We strictly adhere to our policy, which states that no employee will be penalized, formally or informally, for voicing a grievance, as long as they follow the applicable policies and procedures of the Bank; Discrimination and harassment, whether based on a person’s race, gender, gender identity or expression, color, religion, national origin, citizenship, age, disability, marital status, sexual orientation, ancestry, are repulsive and completely inconsistent with our tradition of providing a respectful, professional and dignified workplace
Anti Harassment Workplace Ratings Focus Safe Workplace BRSR Principle 5: Human Rights ,GRI 412: Human Rights Assessment,IFC PS 2: Labour and Working Conditions,IIRF: Intellectual Capital,SASB: Human Capital,SDG 10: Reduced Inequality,UNGC Principle 06 Labour ,WEF People: Dignity and Quality,
Code of Conduct - Employee (Page 10)


All employees should be able to enjoy a work environment free from all forms of misbehavior including discrimination, and harassment from supervisors, colleagues, vendors, consultants, visitors or customers of the Bank
Effective Grievance Mechanisms PE: Entry Due Diligence Safe Workplace Workforce Responsibility BRSR Principle 1: Ethical Transparent and Accountable,BRSR Principle 3: Promote Well-being ,BRSR Principle 5: Human Rights ,GRI 412: Human Rights Assessment,IFC PS 1: Environmental and Social Risks and Impacts,IIRF: Intellectual Capital,SASB: Human Capital,SDG 17: Partnerships to achieve the Goal,WEF People: Dignity and Quality,
Sustainability Report 2022 (Page 38)


The Bank has developed a dedicated policy and procedure document, “Staff Grievance and Problem Solving,” provides a mechanism for employees to report any grievance or concerns. We strictly adhere to our policy, which states that no employee will be penalized, formally or informally, for voicing a grievance, as long as they follow the applicable policies and procedures of the Bank
Electronic Services Solutions Usage by Customers Ratings Focus Customers Metrics GRI 102: GD Reporting Practice,IIRF: Intellectual Capital,SASB: Social Capital,SDG 09: Industry Innovation and Infrastructure,WEF Governance: Stakeholder Engagement,
Annual Report 2022 (Page 35)
Sustainability Report 2022 (Page 50)
Annual Report 2022 (Page 26)


AGB is one of the market leaders in electronic services and is recognised as a major player in the digital banking space in Algeria. During FY’22, AGB focused on digitalising some of its key operations such as card order, card blocking, PIN issue, chargeback, and cancellation with no customer need for branch interaction. It also acquired digital kiosks for self-service branches to provide customer access to key services such as e-banking solutions, contacting customer care, printing of account statements, etc. Moreover, AGB launched AGB Online service on iOS. AGB also upgraded its intranet platform AGByCLIC to enhance communication and facilitate sharing documents/procedures within the Bank; Burgan Bank’s mobile app has the highest overall rating of 4.7 (out of 5) among the local bank apps (iOS & Android). The overall satisfaction rate for Burgan online is 92.6% based on in-app surveys; Active digital users: 60K
Tracking Customer Complaints Customers Financial Institutions PE: Operating Performance Ratings Focus BRSR: Principle 9,GRI 102: GD Ethics and Integrity,IIRF: Social and Relationship Capital,SASB: Social Capital,SDG 09: Industry Innovation and Infrastructure,WEF Governance: Stakeholder Engagement,
Sustainability Report 2022 (Page 47, 48)


Customer First means respecting every customer, addressing their enquiries or complaints on time/every time. To achieve this, the Bank has created an independent Customer Experience Management department to focus on permeating the “Customer First” culture across all businesses of the Bank- Corporate, Wealth management, Private and Retail banking. Burgan makes it a priority to stay in touch with its customers through a variety of channels to initiate communication. Further improvement is planned to enable our customers to reach out to us through their preferred channel for service i.e., social, email, texts, voice, etc. and act on customer instructions in a straight through manner
Customers Experiencing Hardship Financial Institutions GRI 102: GD Stakeholder Engagement ,IIRF: Social and Relationship Capital,SASB: Social Capital,SDG 09: Industry Innovation and Infrastructure,WEF Governance: Stakeholder Engagement,
Sustainability Report 2022 (Page 53)


Burgan acknowledges the importance of small and medium enterprises (SMEs) for the long-term growth of the economy. Burgan is fully committed to New Kuwait Vision 2035 and aims to continue supporting SMEs and their diverse needs. Burgan bank has a dedicated SME unit which understands the business needs of the SME segment and provides products and services accordingly. Burgan further caters to the SME merchants through its digital solutions such as Tijarati and Cash management apps. We will continue our support to the SME sector as key component of our country’s socio-economic development and employment generation. As a part of our inclusion and responsible lending effort we have developed focused banking solutions for the SMEs segment and we provide them different banking solutions; Burgan Bank is committed to financial inclusion of underbanked segments of our society. To achieve this, the Bank uses collaborative and supportive approaches. An example of this commitment is In one such effort, Bank is supporting one of its client in launching e-account service through a fintech company, aiming to provide financial solutions mainly to the unbanked population of Kuwait
Home Ownership and New Business Support Financial Institutions GRI 102: GD Stakeholder Engagement ,IIRF: Social and Relationship Capital,SASB: Social Capital,SDG 09: Industry Innovation and Infrastructure,WEF Governance: Stakeholder Engagement,
Sustainability Report 2022 (Page 53)


Burgan acknowledges the importance of small and medium enterprises (SMEs) for the long-term growth of the economy. Burgan is fully committed to New Kuwait Vision 2035 and aims to continue supporting SMEs and their diverse needs. Burgan bank has a dedicated SME unit which understands the business needs of the SME segment and provides products and services accordingly. Burgan further caters to the SME merchants through its digital solutions such as Tijarati and Cash management apps. We will continue our support to the SME sector as key component of our country’s socio-economic development and employment generation
Financial Inclusion Financial Institutions
Sustainability Report 2022 (Page 53)


Burgan acknowledges the importance of small and medium enterprises (SMEs) for the long-term growth of the economy. Burgan is fully committed to New Kuwait Vision 2035 and aims to continue supporting SMEs and their diverse needs. Burgan bank has a dedicated SME unit which understands the business needs of the SME segment and provides products and services accordingly. Burgan further caters to the SME merchants through its digital solutions such as Tijarati and Cash management apps. We will continue our support to the SME sector as key component of our country’s socio-economic development and employment generation. As a part of our inclusion and responsible lending effort we have developed focused banking solutions for the SMEs segment and we provide them different banking solutions Burgan Bank is committed to financial inclusion of underbanked segments of our society. To achieve this, the Bank uses collaborative and supportive approaches. An example of this commitment is In one such effort, Bank is supporting one of its client in launching e-account service through a fintech company, aiming to provide financial solutions mainly to the unbanked population of Kuwait. The Bank’s B-Dinar accounts and cards for low-income individuals, covered as part of its commitment to ensuring the financial inclusion reached 177,905 in 2022. The access to B-Dinar account holders to POS machines and international ATMs have improved for the B-dinar account holders
Product and Fee Transparency Financial Institutions GRI 102: GD Stakeholder Engagement ,IIRF: Social and Relationship Capital,SASB: Social Capital,SDG 12: Responsible Consumption and Production,WEF Governance: Stakeholder Engagement,
Company Website - About Us - Fees and Charges
Tarif List


Details of Product fees and services are available on the company website
Customer Complaint Representation Financial Institutions PE: Operating Performance BRSR Principle 9: Provide Value to Consumers,GRI 102: GD Stakeholder Engagement ,IIRF: Social and Relationship Capital,SASB: Social Capital,SDG 09: Industry Innovation and Infrastructure,WEF Prosperity: Innovation of Products and Services,
Company Website - Bank Awareness - Clients Complaints
Sustainability Report 2022 (Page 47)


At Burgan Bank we strive to provide superior banking services that are catered for your needs and guarantee your maximum satisfaction, therefore your comments, remarks & complaints are very valuable to us. To ensure a smooth flow of communication between us, and as per the Central Bank of Kuwait instructions we have established a Client Complaint and Protection Unit functioning effectively since July 2011; Customer focus has been a core value of the bank and delivering excellent customer service has been key to our continued success. As reflected by our tag line “Driven by You” and in line with the revised strategy of the bank, we are institutionalizing a “Customer First” culture at the Bank. Customer First means respecting every customer, addressing their enquiries or complaints on time/every time. To achieve this, the Bank has created an independent Customer Experience Management department to focus on permeating the “Customer First” culture across all businesses of the Bank- Corporate, Wealth management, Private and Retail banking
Fair and Responsible Banking Initiatives Financial Institutions GRI 102: GD Stakeholder Engagement ,IFC PS 1: Environmental and Social Risks and Impacts,IIRF: Social and Relationship Capital,SASB: Business Model and Innovation,SDG 09: Industry Innovation and Infrastructure,WEF Governance: Stakeholder Engagement,
Sustainability Report 2022 (Page 18)
Annual Report 2022 (Page 44)


Burgan Bank strives to promote financially and environmentally sustainable banking products and services, deliver innovative products and services to customers while ensuring data privacy and security. The Bank encourages investment in the SME sector as a sustainable means to grow the economy, as well as looks for ways to service the unbanked or underbanked communities as a part of its commitment towards financial inclusion. As it moves forward in its sustainability journey the bank also seeks to incorporate ESG considerations in the Risk Assessment Framework for qualitative credit/ investment analysis
Broad Digital Account Access Financial Institutions GRI 418: Customer Privacy,IIRF: Social and Relationship Capital,SASB: Business Model and Innovation,SDG 09: Industry Innovation and Infrastructure,WEF Governance: Stakeholder Engagement,
Sustainability Report 2022 (Page 50 - 52)
Company Website - Retail Banking - Digital Banking


Burgan Bank aims to remain relevant to their customers in the digitalized world and has rolled out multiple digital initiatives to enhance the customer experience. In last three years, its digital subscriber base has grown from 26% to 60% and volume of digital transactions increased by 75%. Burgan Bank’s mobile app has the highest overall rating of 4.7 (out of 5) among the local bank apps (iOS & Android). The overall satisfaction rate for Burgan online is 92.6% based on in-app surveys
Financial Education Initiatives to Stakeholders Financial Institutions
Sustainability Report 2022 (Page 54)


Burgan bank is committed to enhance financial literacy of our customers and the wider community through a range of digital offerings and communication channels. Our website is regularly updated with the customer protection guide and customer rights and responsibilities. We also provide periodic security alerts for safeguarding personal information and preventing fraud. Burgan Bank is committed to fair marketing and communications activities which are consistently: Ethical, open, transparent, clear, appropriate and timely; Aligned with the Bank’s strategy and objectives; tailored to meet the expectations and requirements of all of the Bank’s major stakeholders
Community Support Initiatives Community BRSR Principle 8: Inclusive and Equitable Development,GRI 413: Local Communities,IFC PS 7: Indigenous Peoples,IIRF: Social and Relationship Capital,SASB: Social Capital,SDG 08: Decent Work and Economic Growth,WEF: Employment and Wealth Generation,
Sustainability Report 2022 (Page 57 - 61)


Burgan Bank aims to create a positive change in the world and is committed to building a better society. Burgan Bank’s approach towards societal responsibility has always been holistic and proactive. The Bank seeks to serve as a true community partner and engaged corporate citizen; working with individuals from across the community, civic organizations, and national institutions to create real positive change across various sectors of society. Blood Donation: Campaigns to Save Life: Burgan bank participated in the blood donation campaign this year with the theme ‘A Drop of Your Blood...A Life for Others’. The campaign was sponsored as a part of the Bank’s social responsibility program to raise public awareness about the importance of blood donation in saving lives. The combined efforts resulted in a total of 142 bags of blood being donated; Education: Emphasis on education is critical to developing a knowledge-based economy and society. Burgan Bank’s mission is to educate society about financial literacy. In 2022, the Bank concluded its participation in the Public Authority for Housing Welfare (PAHW) Expo as part of its financial literacy efforts to raise public awareness about the products and services of the Kuwaiti banking sector. The Bank remained actively involved in educating young Kuwaitis through career fairs, student engagement etc. at universities across Kuwait; Burgan Bank has always placed a strong emphasis on combined social responsibility. Its CSR initiatives called ‘ENGAGE’ – Together to be the change is a campaign intended to engage larger communities through a variety of partnerships to concentrate on all societal segments. This program promotes social welfare through educational, cultural, health and other community driven initiatives
Social Impact Assessment Community Social BRSR Principle 8: Inclusive and Equitable Development,IFC PS 4: Community Health Safety and Security,
Sustainability Report 2022 (Page 18)


Burgan Bank promotes social inclusion through contribution and participation in community causes with a commitment to support the local community in the areas of health, youth, education, environment, and culture. The Bank works towards advancement of the special needs segment of society, enables women empowerment and undertakes initiatives and activities for fostering financial literacy and participation in the community. Internal stakeholder satisfaction is equally important to Burgan Bank, and continuous efforts are made for employee satisfaction
Youth Unemployment Initiatives Community GRI 413: Local Communities,IFC PS 1: Environmental and Social Risks and Impacts,IIRF: Social and Relationship Capital,SASB: Social Capital,SDG 08: Decent Work and Economic Growth,WEF: Employment and Wealth Generation,
Sustainability Report 2022 (Page 58, 60)
Sustainability Report 2022 (Page 68)


In 2022, the Bank concluded its participation in the Public Authority for Housing Welfare (PAHW) Expo as part of its financial literacy efforts to raise public awareness about the products and services of the Kuwaiti banking sector. The Bank remained actively involved in educating young Kuwaitis through career fairs, student engagement etc. at universities across Kuwait; The Bank also sponsored the Kuwait International Arabian Horse Championship; KBA’s First Padel Tournament; the Kuwait Ramadan Squash Open Championship; the Women’s Football League; the First Football League for Young Women under 18 in Cooperation with the Kuwait Football Association and the Sheikh Nasser Sabah Al-Ahmad Prize for Best Domestic Athlete; BBT collaborated with Ashoka, a social entrepreneurship network, to support Gulcan Yayla, the founder of the platform “Kodluyoruz” which aims at training young people in the technology field. This initiative is sponsored by BBT for 3 years from 2021-2023
Local Employment and Sourcing Community Boursa Kuwait S: Nationalism,BRSR Principle 8: Inclusive and Equitable Development,GRI 204: Procurement Practices,IFC PS 7: Indigenous Peoples,IIRF: Social and Relationship Capital,SASB: Social Capital,SDG 08: Decent Work and Economic Growth,WEF: Employment and Wealth Generation,
Sustainability Report 2022 (Page 43, 44)
Annual Report 2022 (Page 52)


Burgan Bank connects with local talent development programs by participating in career fair, sectoral competency development programs and training programs for students. The Bank is aligned to the Central Bank of Kuwait’s strategic vision for developing national competencies and cadres in the banking and financial sector; Burgan Bank continually nurtures talent and empowers them to become future leaders to ensure the operations of the Bank run smoothly with minimum disruption in the event of leadership changes. In 2022, Burgan continued to deliver on the core objective of developing talent and building future leaders through a wide range of technical and behavioural programs. Ro2ya program: to develop local talent pipeline for management roles at all levels to support succession planning. 52 employees graduated and 65% promoted under the Ro2ya program in 2022. Further, new batch of 46 Kuwaitis were added under Ro2ya 2 program
Community Investment Policy Community Metrics PE: Operating Performance Policies BRSR Principle 2: Sustainable and Safe,BRSR Principle 8: Inclusive and Equitable Development,GRI 413: Local Communities,IIRF: Social and Relationship Capital,SASB: Social Capital,SDG 08: Decent Work and Economic Growth,WEF: Employment and Wealth Generation,
Sustainability Report 2022 (Page 58 - 60)


In 2022, the Bank continued its long-standing partnerships with key partners, namely Al Ahmadi Governate, as well as the Kuwait Association for Care of Children in Hospital (KACCH) and Bayt Abdullah Children’s Hospice (BACCH). The latter partnership resulted in a once-in-a-lifetime dream coming true for a young palliative care patient, whom as a result could participate in the FIFA Qatar World Cup 2022 semi-finals; For the 2021-2022 season, Burgan Bank sponsored the fifth round of the Kuwait Equestrian Federation (KEF) League. The Bank’s sponsorship of the KEF competition reflects the Bank’s commitment to promoting Kuwaiti sports culture and fostering youth development through sports as part of its comprehensive, community focused social responsibility program; In 2022, the Bank concluded its participation in the Public Authority for Housing Welfare (PAHW) Expo as part of its financial literacy efforts to raise public awareness about the products and services of the Kuwaiti banking sector
Wider Stakeholder Initiatives Community Ratings Focus BRSR Principle 3: Promote Well-being ,BRSR Principle 9: Provide Value to Consumers,GRI 413: Local Communities,IFC PS 4: Community Health Safety and Security,IIRF: Social and Relationship Capital,SASB: Social Capital,SDG 08: Decent Work and Economic Growth,WEF Governance: Stakeholder Engagement,
Sustainability Report 2022 (Page 57 - 60)


Burgan Bank aims to create a positive change in the world and is committed to building a better society. Burgan Bank’s approach towards societal responsibility has always been holistic and proactive. The Bank seeks to serve as a true community partner and engaged corporate citizen. Burgan Bank perceives health promotion as a vital element to the future of its communities. Burgan Bank is proud to be a benefactor towards various health care projects. Burgan bank participated in the blood donation campaign this year with the theme ‘A Drop of Your Blood...A Life for Others’. The campaign was sponsored as a part of the Bank’s social responsibility program to raise public awareness about the importance of blood donation in saving lives; Emphasis on education is critical to developing a knowledge-based economy and society. Burgan Bank’s mission is to educate society about financial literacy. In 2022, the Bank concluded its participation in the Public Authority for Housing Welfare (PAHW) Expo as part of its financial literacy efforts to raise public awareness about the products and services of the Kuwaiti banking sector. The Bank remained actively involved in educating young Kuwaitis through career fairs, student engagement etc. at universities across Kuwait; Burgan Bank has always placed a strong emphasis on combined social responsibility. Its CSR initiatives called ‘ENGAGE’ – Together to be the change is a campaign intended to engage larger communities through a variety of partnerships to concentrate on all societal segments. This program promotes social welfare through educational, cultural, health and other community driven initiatives; Burgan has positioned itself as an active champion and advocate of a stronger sports culture in Kuwait and in 2022, this commitment was on display, as the Bank elevated its sports program to the next level. More than just sponsoring local sports events and supporting national sports organizations, Burgan Bank stepped up its commitment to sports by organizing its own sporting events and programs, both for its employees and for the wider community
Employee Engagement With Community Community Employees
Sustainability Report 2022 (Page 57 - 60)


Burgan Bank aims to create a positive change in the world and is committed to building a better society. Burgan Bank’s approach towards societal responsibility has always been holistic and proactive. The Bank seeks to serve as a true community partner and engaged corporate citizen; working with individuals from across the community, civic organizations, and national institutions to create real positive change across various sectors of society. Burgan bank participated in the blood donation campaign this year with the theme ‘A Drop of Your Blood...A Life for Others’. The campaign was sponsored as a part of the Bank’s social responsibility program to raise public awareness about the importance of blood donation in saving lives; In 2022, the Bank concluded its participation in the Public Authority for Housing Welfare (PAHW) Expo as part of its financial literacy efforts to raise public awareness about the products and services of the Kuwaiti banking sector. The Bank remained actively involved in educating young Kuwaitis through career fairs, student engagement etc. at universities across Kuwait; Burgan Bank has always placed a strong emphasis on combined social responsibility. Its CSR initiatives called ‘ENGAGE’ – Together to be the change is a campaign intended to engage larger communities through a variety of partnerships to concentrate on all societal segments. This program promotes social welfare through educational, cultural, health and other community driven initiatives; Burgan has positioned itself as an active champion and advocate of a stronger sports culture in Kuwait and in 2022, this commitment was on display, as the Bank elevated its sports program to the next level. More than just sponsoring local sports events and supporting national sports organizations, Burgan Bank stepped up its commitment to sports by organizing its own sporting events and programs, both for its employees and for the wider community
Total Donations Made and Philanthropy Community Ratings Focus Metrics GRI 102: GD Stakeholder Engagement ,IIRF: Social and Relationship Capital,SASB: Social Capital,SDG 08: Decent Work and Economic Growth,WEF: Employment and Wealth Generation,
Annual Report 2022 (Page 160)
A : 519000
B : 476000
Contribution to Zakat for FY2022: KD 519,000
Social Covenanted Financing
Sustainable Financing Framework


Burgan considers itself to be an agent of positive change in the community, and thus, aspires to enhance its contributions to sustainability and its overall efforts towards national advancement to the benefit of all. The Bank is firmly committed to collaborating with all similarly concerned stakeholders on the betterment of the community, and the creation of a more prosperous and progressive society. To continue being a best-in-class financial services provider, the Bank has started to focus its responsibilities towards sustainability. In 2021, the Bank crafted its Environmental, Society and Governance (“ESG”) Framework, with the goal of consistently developing a holistic approach to providing financially sustainable, relevant, secure and innovative products and services to customers, stakeholders (e.g., employees, investors, regulators, suppliers), and the community at large. The Bank’s ESG Framework is held by four strong pillars, which are meant to reflect Burgan’s commitment to creating products that support local communities, steer people towards paths of financial growth, and contribute to a greener environment
Governance
Corporate Governance Policies Framework Policies GRI 102: GD Governance,IIRF: Human Capital,SASB: Leadership and Governance,SDG 16: Peace Justice and Strong Institutions,WEF Governance: Governing Purpose,
Company Website - About Burgan Bank - Corporate Governance
Sustainability Report 2022 (Page 21)
Company Website - About Burgan Bank - Corporate Governance - Principles and Standards of Business Conduct


Burgan Bank (“the Bank”) is committed to the highest standards of corporate governance and recognizes that good governance is pivotal in helping the business to deliver its strategies whilst generating sustainable shareholder value and meeting its obligations towards shareholders and other stakeholders. As an essential part of this commitment, the Bank operates within a well-defined governance structure and embeds governance principles and practices in its operations based upon the four cornerstones of accountability, transparency, fairness and integrity. The Bank follows the guidelines of the Central Bank of Kuwait, which are based on Basel Committee recommendations on Corporate Governance. The Bank also counts on the community’s support and partnership in advocating excellence in corporate governance. Hence, the Bank appeals to all other market players for joining the Bank in contributing to a continuous enhancement of its quality by practicing good corporate governance not only for the corporate growth, but also for the prosperity of the State of Kuwait. The provisions under this CG manual shall apply to the Board of Directors, the Executive Management, employees and the service providers of the Bank
Governance Oversight Framework Framework Policies CDP: Climate,GRI 102: GD Governance,IIRF: Human Capital,SASB: Leadership and Governance,SDG 16: Peace Justice and Strong Institutions,TCFD: Governance,WEF Governance: Governing Purpose,
Corporate Governance Manual (Page 6)
Annual Report 2022 (Page 64 - 68)
Sustainability Report 2022 (Page 23)


The Board shall have overall responsibility for the Bank, including approving and overseeing the implementation of the Bank’s strategic objectives, risk strategy, corporate governance and corporate values. The Board shall also be responsible for providing oversight of the Executive Management. The Board members shall exercise their independence and commitment to perform their role towards the Bank and all its stakeholders without being under an effect or influence which may limit their ability to look into the Bank’s affairs, discuss them and make a decision on it in an objective manner to protect the minority's rights; Burgan Bank restructured its Board-level committees and has five committees to assist the Board in improving the effectiveness of its oversight of the Banks operations
Allocation of Duties and Responsibilities Framework GRI 102: GD Governance,IFC PS 2: Labour and Working Conditions,IIRF: Human Capital,SASB: Leadership and Governance,SDG 16: Peace Justice and Strong Institutions,TCFD: Governance,WEF Governance: Governing Purpose,
Annual Report 2022 (Page 63, 65)


The Board has established Board Committees in order to enhance its supervision effectiveness over operations of the Bank. Each Committee member’s expertise, skills and background were considered while forming the Committees to assure the best supervision of the Committee over the Bank’s operation according to each Committee responsibilities; Board committees: Board Corporate Governance Committee; Board Audit Committee; Board Risk Committee; Board Nomination and Remuneration Committee; Board Credit and Investment Committee
Corporate Culture Management Framework GRI 405: Diversity and Equal Opportunity,IIRF: Human Capital,SASB: Leadership and Governance,SDG 16: Peace Justice and Strong Institutions,WEF Governance: Governing Purpose,
Sustainability Report 2022 (Page 34)
Sustainability Report 2022 (Page 38)


The Bank recognizes the enormous value of diversity and makes efforts to promote a culture rich in diversity, equality, inclusiveness and non-discrimination. The Bank has exercised best practices over the years leading to a diverse workforce with a strong focus on women empowerment, a well-balanced gender mix, as well as a stable gender-balanced hiring and turnover rate; At Burgan Bank, we are committed to maintaining a workplace that is free from discrimination. We have implemented practices and policies to foster a diverse culture in the bank. To further support our commitment to a discrimination-free workplace, our employees can escalate any discrimination issues through HR business partners. We track and report all incidents to ensure a safe and inclusive work environment for all
Behaviour and Business Ethics Framework Boursa Kuwait G: Ethics and Anti Corruption,GRI 102: GD Ethics and Integrity,IIRF: Human Capital,SASB: Leadership and Governance,SDG 16: Peace Justice and Strong Institutions,WEF Governance: Ethical Behaviour,
Sustainability Report 2022 (Page 21, 24)
Code of Conduct - Employees


Burgan Bank aims to maintain a high degree of transparency and inclusiveness in governance and reporting. The Bank believes in value-based banking systems. It endeavours to consistently integrate good ESG practices into its business, governance structures and its operations. Burgan Bank operates within a well-defined governance structure and incorporates governance principles and practices into its operations that are founded on the four pillars of accountability, transparency, fairness, and integrity. The Bank abides by a strict Code of Conduct in its business practices and decision-making. Burgan Bank has a Board approved policy for ‘Code of Business Conduct and Ethics’ which is followed by all members of the Board and employees. It describes the values and minimum standards for ethical business conduct expected from all its employees and Board Members
Ethical Standard Audits Ratings Focus Risk Control GRI 102: GD Ethics and Integrity,IIRF: Human Capital,SASB: Leadership and Governance,SDG 16: Peace Justice and Strong Institutions,WEF Governance: Ethical Behaviour,
Sustainability Report 2022 (Page 24)


Burgan Bank conducts periodic audits to ensure that the governance procedures and ethical standards are adhered to. Following best practice, all areas of the Bank are audited at least once every three years. Corporate Governance audit was last carried out in 2021 by Internal Audit, which examined the effectiveness of various aspects of governance and is now scheduled for 2023. Further as part of the governance overview process, a standalone audit on Conduct, Culture and Ethics is scheduled as part of the 2023 Internal audit plan. The audit will encompass the review of the design and implementation of key controls related to Code of Business Ethics and Behavioral Values, Conflict of Interest Policy, Whistleblower Policy and reporting mechanisms; Conduct Risk Management; and Monitoring Culture/Conduct Risk Indicators
Implementation of Codes of Conduct Framework PE: Entry Due Diligence Ratings Focus GRI 102: GD Governance,IIRF: Human Capital,SASB: Leadership and Governance,SDG 16: Peace Justice and Strong Institutions,WEF Governance: Ethical Behaviour,
Company Website - About Us - Principles and Standards of Business Conduct
Annual Report 2022 (Page 68)
Sustainability Report 2022 (Page 24)


The Bank shall have a Board approved policy for ‘Code of Business Conduct and Ethics’ that includes a definition of conflict of interest, related party and transactions based on insider information of the Bank. Such policy shall be circulated to all the Bank’s employees and Board members and their signatures shall be obtained on adherence to its content. The Board shall ensure specifying professional standards and institutional values that enhance the integrity of the Bank, the Board members, the Executive Management, and other employees; Burgan Bank’s Code of Conduct describes the values and minimum standards for ethical business conduct that it expects all of its employees and Directors to follow. These values and standards govern employee interactions with its clients, competitors, business partners, government and regulatory authorities, and shareholders, as well as with other employees. In addition, it forms the cornerstone of our policies, which provide guidance on compliance with applicable laws and regulations. Burgan Bank’s Directors, Executive Management and employees are committed to the highest degree of adherence to the code of conduct policies
Dedicated Person for Risk Management Ratings Focus Risk Control GRI 102: GD Governance,IIRF: Human Capital,SASB: Leadership and Governance,SDG 17: Partnerships to achieve the Goal,WEF Governance: Governing Purpose,
Annual Report 2022 (Page 65)
Company Website - About Burgan Bank - Corporate Governance - Board Committee


Board Risk Committee: Chairman: Dr. Amani Bouresli; Members: Mr. Fouad Douglas, Mr. Mazen Hawwa, Mr. Michel Accad
Independence of Risk Management Ratings Focus Data Protection and Cyber Security Risk Control GRI 102: GD Governance,IIRF: Human Capital,SASB: Leadership and Governance,SDG 16: Peace Justice and Strong Institutions,WEF Governance: Risk and Opportunity Oversight,
Annual Report 2022 (Page 48)
Sustainability Report 2022 (Page 27)


2nd Line of Defence: Group Risk Management, Group Compliance and Anti-Financial Crime; As the 2nd Line of Defence, Group Risk Management independently monitors, reports, provides oversight, escalates breaches, and advises the 1st Line of Defence (Business and Support Functions) on risks. It also monitors that the 1st Line of Defence’s controls are properly designed, firmly in place and are operating as intended; Burgan Bank fosters a culture of risk awareness and has embedded risk management in its operations. The Bank has an independent Risk Management Group (RMG) which is headed by Group Chief Risk Officer (GCRO) who reports directly to the Board Risk Committee (BRC). The BRC reports to the Board of Directors, which is ultimately responsible for approving and monitoring the execution of the Bank’s risk appetite and risk strategy which support the business strategy
Fraud Risk Control Policies Ratings Focus Data Protection and Cyber Security Policies Risk Control GRI 102: GD Governance,IIRF: Human Capital,SASB: Leadership and Governance,SDG 16: Peace Justice and Strong Institutions,UNGC Principle 10 Anti Corruption,WEF Governance: Risk and Opportunity Oversight,
Annual Report 2022 (Page 48 - 51)


Burgan Bank’s Risk Management Framework is an intrinsic part of its operations and culture. It is fully aligned with the Bank’s vision to deliver value for stakeholders and to meet the needs of its customers. Risk exposures are identified, evaluated and managed to ensure that they remain within the Bank’s risk appetite. The Bank has an independent Risk Management Group (RMG) which is headed by the Group Chief Risk Officer (GCRO) who reports directly to the Board Risk Committee (BRC). The BRC reports to the Board of Directors, which is ultimately responsible for supervising the execution of the Bank’s business strategy and the related risk strategy and risk appetite.
Anti Corruption Policy PE: Entry Due Diligence Policies Ratings Focus Risk Control Boursa Kuwait G: Ethics and Anti Corruption,BRSR Principle 1: Ethical Transparent and Accountable,GRI 205: Anti-corruption,IIRF: Human Capital,SASB: Leadership and Governance,SDG 16: Peace Justice and Strong Institutions,UNGC Principle 10 Anti Corruption,WEF Governance: Ethical Behaviour,
Company Website - About Us - Anti Financial Crime
Sustainability Report 2022 (Page 26)


Separate section on Anti Financial Crime is available on the Company Website; The Bank has in place stringent policies supported by the processes and resources for effective implementation. The Code of Conduct and AML/CTF Policy holistically addresses combating financial crimes and anti-corruption within the Group. Anti-corruption parameters have been communicated to all employees and Board Members through the Code of Conduct. The efforts of responsible Governance, have resulted in Zero confirmed cases of corruption in 2022
Anti Money Laundering Policy Ratings Focus Risk Control GRI 102: GD Ethics and Integrity,IIRF: Financial Capital,SASB: Leadership and Governance,SDG 16: Peace Justice and Strong Institutions,WEF Governance: Ethical Behaviour,
Company Website - About Us - Anti Financial Crime
Annual Report 2022 (Page 74)
Sustainability Report 2022 (Page 26)


Separate section on Anti Financial Crime is available on the Company Website; Burgan Bank Group is fully committed to complying with all applicable Anti-Money Laundering (“AML”) and Counter-Terrorism Financing (“CTF”) laws and regulations across the jurisdictions in which it operates. The Group Anti-Financial Crime Department (GAFC) is an independent function within Burgan Bank Group reporting directly to the Chairman mandated with detecting, preventing and reporting suspicious financial crimes activities that involve but are not limited to money laundering, terrorism financing and breaches of local and international sanctions programmes
Related Party Transactions Ratings Focus Risk Control Transactions Transparency Boursa Kuwait G: Disclosure Practices,BRSR Principle 1: Ethical Transparent and Accountable,GRI 102: GD Ethics and Integrity,IIRF: Social and Relationship Capital,SASB: Leadership and Governance,SDG 16: Peace Justice and Strong Institutions,WEF Governance: Risk and Opportunity Oversight,
Annual Report 2022 (Page 163)


Transactions with related parties are disclosed in the annual report 2022
Whistle Blower Policy PE: Entry Due Diligence Ratings Focus Risk Control GRI 102: GD Ethics and Integrity,IIRF: Human Capital,SASB: Leadership and Governance,SDG 16: Peace Justice and Strong Institutions,WEF Governance: Ethical Behaviour,
Sustainability Report 2022 (Page 25)
Company Website - About Burgan Bank - Corporate Governance - Principles and Standards of Business Conduct


The Bank has policies and procedures in place for Whistleblowing that aims to provide the employees with a clear channel through which they can communicate their concerns or doubts about possible violations in a manner that allows independent investigation of those doubts and follow-up, without fear of reprisal. A whistleblower may, in good faith, disclose confidential or anonymous information in connection with an allegation of fraud, corruption, illegal act, malpractice or any other misconduct by any employee. The policy is applicable to all the Bank’s employees, vendors, consultants and advisors, in addition to other related parties, and encompasses all stakeholders, both minority and majority
Political Contributions Ratings Focus Metrics Risk Control Boursa Kuwait G: Disclosure Practices,GRI 415: Public Policy,IIRF: Social and Relationship Capital,SASB: Social Capital,SDG 16: Peace Justice and Strong Institutions,WEF Governance: Ethical Behaviour,
Annual Report 2022


No political contribution during the year
Environmental, Social or Ethical Violations
Annual Report 2022


No environmental, Social or ethical violations during the year
Environmental, Social or Ethical Litigation Claims Ratings Focus External Factors Regulations Boursa Kuwait G: Disclosure Practices,GRI 307: Environmental Compliance,IIRF: Human Capital,SASB: Leadership and Governance,SDG 17: Partnerships to achieve the Goal,WEF Governance: Risk and Opportunity Oversight,
Annual Report 2022


No environmental, social or ethical litigation claims during the year
Strikes and Lockouts Ratings Focus External Factors GRI 102: GD Reporting Practice,IIRF: Human Capital,SASB: Leadership and Governance,SDG 16: Peace Justice and Strong Institutions,WEF Governance: Stakeholder Engagement,
Annual Report 2022


No strikes and lockouts during the year
Economic Value Generated And Distributed External Factors Reporting GRI 201: Economic Performance,IIRF: Financial Capital,SDG 08: Decent Work and Economic Growth,TCFD: Governance,
Sustainability Report 2022 (Page 13)
Sustainability Report 2021 (Page 29)
A : 232000000
B : 235000000
C : 212000000
For 2022 Economic Value Generated: KD 232 Mn; Distributed: KD 204 Mn; Retained: KD 28 Mn
Tax Transparency Disclosures Metrics External Factors Transparency Boursa Kuwait G: Disclosure Practices,GRI 207: Tax,IIRF: Financial Capital,SASB: Leadership and Governance,SDG 16: Peace Justice and Strong Institutions,WEF Prosperity: Community and Social Vitality,
Annual Report 2022 (Page 161)
Annual Report 2021 (Page 154)
A : 16440000
B : 6708000
C : 4302000
Tax Expense: KD 16,440,000 (2022); KD 6,708,000 (2021); KD 4,302,000 (2020)
Effective Tax Rate Metrics
Annual Report 2022 (Page 161)


The effective income tax rate for the year ended 31 December 2022 is in the range of 15% to 34% (2021: 27% to 28%)
Material Controversies Identified External Factors GRI 102: GD Governance,IIRF: Intellectual Capital,SASB: Leadership and Governance,SDG 17: Partnerships to achieve the Goal,WEF Governance: Stakeholder Engagement,
Annual Report 2022


No material controversies were identified during the year
Concerns Identified in Audit Report Risk Control Transparency GRI 102: GD Governance,IIRF: Human Capital,SASB: Leadership and Governance,SDG 17: Partnerships to achieve the Goal,WEF Governance: Ethical Behaviour,
Annual Report 2022 (Page 126)


We have audited the consolidated financial statements of Burgan Bank K.P.S.C. (the “Bank” ) and its subsidiaries (together, the “Group”), which comprise the consolidated statement of financial position as at 31 December 2022, the consolidated statements of income, comprehensive income, changes in shareholders’ equity and cash flows for the year then ended, and notes, comprising significant accounting policies and other explanatory information. In our opinion, the accompanying consolidated financial statements present fairly, in all material respects, the consolidated financial position of the Group as at 31 December 2022, and its consolidated financial performance and its consolidated cash flows for the year then ended in accordance with International Financial Reporting Standards (“IFRS”), as adopted by the Central Bank of Kuwait (the “CBK”) for use by the State of Kuwait
Auditor and Fee Disclosure Metrics External Factors Transparency Boursa Kuwait G: Disclosure Practices,GRI 102: GD Governance,IIRF: Financial Capital,SASB: Leadership and Governance,SDG 17: Partnerships to achieve the Goal,WEF Governance: Ethical Behaviour,
Annual Report 2022 (Page 128)


Independent auditor: Dr Rasheed M. Al–Qenae, License No. 130-A, of KPMG Safi Al-Mutawa & Partners, Member Firm of KPMG International; Nayef Al Bazie, License No. 91-A of RSM Al Bazie & Co
Sustainable Investments Financial Institutions
Sustainability Report 2022 (Page 65)


Burgan is committed to conducting ESG risk assessments to ensure that the credit/investment analysis of borrowing entities/ investee companies and investment decision making processes are aligned with Bank’s ESG considerations. The Bank is taking active steps to incorporate ESG risk management framework in the bank’s risk processes and policies
CEO / Chairperson Separation Board of Directors Chairman Chief Executive Officer Committees Ratings Focus GRI 102: GD Governance,IIRF: Intellectual Capital,SASB: Leadership and Governance,SDG 16: Peace Justice and Strong Institutions,WEF Governance: Quality of Governing Body,
Company Website - About Us - Board of Directors
Annual Report 2022 (Page 59)


Chairman: Sheikh Abdullah Nasser Sabah Al-Ahmad Al-Sabah; Chief Executive Officer: Mr. Antoinne Daher
CEO/Senior Management Succession Planning Board of Directors
Sustainability Report 2022 (Page 44)
Company Website - About Burgan Bank - Corporate Governance - Succession Planning


In 2022, Burgan continued to deliver on the core objective of developing talent and building future leaders through a wide range of technical and behavioural programs. Key achievements towards Talent Development & Succession planning are: Ro2ya program and Holistic Banker program. In addition to the leadership development trainings, the Bank has a succession plan that is overseen by the Board Nomination and Remuneration Committee (BNRC) to ensure succession and continuity of leadership in critical positions while maintaining the skills necessary to implement the Bank’s long-term strategy
Regular Self-Assessment of Board Performance Board of Directors Ratings Focus Boursa Kuwait G: Incentivized Pay,GRI 102: GD Governance,IIRF: Intellectual Capital,SASB: Leadership and Governance,SDG 16: Peace Justice and Strong Institutions,WEF Governance: Quality of Governing Body,
Sustainability Report 2022 (Page 26)
Company Website - About Burgan Bank - Corporate Governance - Corporate Governance Manual


Burgan Bank conducts an impartial evaluation of the board’s overall performance on an annual basis through a self-assessment process. The remuneration policy and practices are managed within the risk appetite as laid out by the Board taking into consideration all financial, operational and compliance key risks; Performance Evaluation: The Board Nomination and Remuneration Committee (BNRC) shall undertake an annual evaluation of each Board member’s overall performance and his/ her performance in the capacity of a member of a Board Committee, as per the Board approved policies and procedures. The performance evaluation shall be based on a pre-set assessment criterion developed by the BNRC in coordination with the Board Corporate Governance Committee (BCGC) and approved by the Board. The assessment criteria shall be developed for the Board and its committees and shall be shared with the respective members at the beginning of the performance management cycle. The evaluation shall include, among others as detailed in the performance evaluation procedure, the effectiveness and the activities of the members during the committee’s session, the knowledge and experience of the members and assess their authorities and their leadership skills. Documentation required to support the evaluation will be sought from the Board Secretary and / or chairman of each committee. For the purpose of enhancing the independence and objectivity of conducting the Board and Board members evaluation annually, the BNRC may fully or partially outsource the performance evaluation process to an independent professional/ expert third party
CEO and Board Compensation Board of Directors Ratings Focus Boursa Kuwait G: Disclosure Practices,Boursa Kuwait G: Incentivized Pay,BRSR Principle 5: Human Rights ,GRI 102: GD Governance,IIRF: Intellectual Capital,SASB: Leadership and Governance,SDG 17: Partnerships to achieve the Goal,WEF Governance: Quality of Governing Body,WEF People: Dignity and Quality,
Annual Report 2022 (Page 75)
Annual Report 2022 (Page 130)


CEO and Board compensation has been disclosed in the annual report 2022
Board Composition Board of Directors Ratings Focus Boursa Kuwait G: Board Diversity,GRI 102: GD Governance,IIRF: Intellectual Capital,SASB: Leadership and Governance,SDG 16: Peace Justice and Strong Institutions,WEF Governance: Quality of Governing Body,
Annual Report 2022 (Page 58)
Company Website - About Burgan Bank - Corporate Governance - Board of Directors
Boursa Kuwait Stock Exchange - Management


The Board comprises five Non-Executive Directors and four Independent Director as elected by the General Assembly. The Board will ensure independence in actions and decisions at all times and shall comprise a sufficient number of members to allow it to form the required number of Board Committees. Election and renewal of the Board members shall be done in compliance with the applicable rules and regulations. The changes related to the number of Board members of the Bank shall be suitably reflected through amendments in the Articles of Association to correspond to the implementation of the rules, regulations and instructions. Each member of the Board shall serve a term of three years, at the end of which the Board shall be formed again and it shall be permissible to appoint the members whose term has expired. The Board is structured to ensure that the Directors provide the Group with the appropriate balance of skills, experience and knowledge as well as independence
Board Overview Board of Directors Ratings Focus GRI 102: GD Governance,IIRF: Human Capital,SDG 16: Peace Justice and Strong Institutions,WEF Governance: Quality of Governing Body,
Annual Report 2022 (59 - 62)
Company Website - About Burgan Bank - Corporate Governance - Board of Directors
Sustainability Report 2022 (Page 22)


Board Overview is available on the Company website
Management Overview Ratings Focus Executive Management GRI 102: GD Governance,IIRF: Human Capital,SASB: Leadership and Governance,SDG 16: Peace Justice and Strong Institutions,WEF Governance: Quality of Governing Body,
Annual Report 2022 (Page 76 - 81)
Company Website - About Burgan Bank - Corporate Governance - Executive Management


A brief profile of each Management is available in the annual report 2022
Disclosure of Board Age Ranges Board of Directors Ratings Focus Boursa Kuwait G: Board Diversity,Boursa Kuwait G: Disclosure Practices,GRI 102: GD Governance,IIRF: Intellectual Capital,SASB: Leadership and Governance,SDG 10: Reduced Inequality,WEF Governance: Quality of Governing Body,
Sustainability Report 2022 (Page 22)


Board age ranges are disclosed in the sustainability report 2022
Non Executive Board of Directors Board of Directors Ratings Focus Metrics Boursa Kuwait G: Board Independence,GRI 102: GD Governance,IIRF: Intellectual Capital,SASB: Leadership and Governance,SDG 16: Peace Justice and Strong Institutions,WEF Governance: Quality of Governing Body,
Company Website - About Us - Board of Directors
Sustainability Report 2022 (Page 22)
Boursa Kuwait Stock Exchange - Management
A : 9
B : 9
C : 100
All board members are non executive directors
Independent Board of Directors Board of Directors Committees Ratings Focus Metrics Boursa Kuwait G: Board Independence,GRI 102: GD Governance,IIRF: Intellectual Capital,SASB: Leadership and Governance,SDG 16: Peace Justice and Strong Institutions,WEF Governance: Quality of Governing Body,
Company Website - About Us - Board of Directors
Sustainability Report 2022 (Page 22)
Boursa Kuwait Stock Exchange - Management
A : 4
B : 9
C : 44.44
4 out of the 9 board members are independent directors
Board Independence Criteria
Sustainability Report 2022 (Page 22)


The criteria used for nominating and selecting highest governance body members, include but is not limited to independence, qualifications, experience, diversity, knowledge and reputation. CBK rules and regulations are adopted for appointment of independent, regular and nominated members of the Board
Entrenched Board of Directors Board of Directors Committees Ratings Focus Metrics GRI 102: GD Governance,IIRF: Intellectual Capital,SASB: Leadership and Governance,WEF Governance: Quality of Governing Body,
Company Website - About Burgan Bank - Corporate Governance - Board of Directors
A : 2
B : 9
C : 22.22
2 out of 9 Members on the Board have been associated for over 10 years
Founders Represented on Board Board of Directors Committees Ratings Focus Metrics GRI 102: GD Governance,IIRF: Intellectual Capital,SASB: Leadership and Governance,SDG 16: Peace Justice and Strong Institutions,WEF Governance: Quality of Governing Body,
Company Website - About Us - Board of Directors
A : 0
B : 9
C : 0
No Founder represented on board
Audit Committee Composition Board of Directors Committees Metrics Boursa Kuwait G: Disclosure Practices,GRI 102: GD Governance,IIRF: Intellectual Capital,SASB: Leadership and Governance,SDG 16: Peace Justice and Strong Institutions,WEF Governance: Ethical Behaviour,
Company Website - About Us - Corporate Governance - Board Committees
Annual Report 2022 (Page 65)
Boursa Kuwait Stock Exchange - Management
A : 2
B : 3
C : 66.66
2 out of the 3 members of the audit committee are non-executive members; The BAC shall be responsible for setting and overseeing the sufficiency of internal control and audit functions of the Bank, along with ensuring compliance with applicable laws, policies, instructions and code of business conduct and ethics
Remuneration Committee Composition Board of Directors Committees Metrics GRI 102: GD Governance,IIRF: Intellectual Capital,SASB: Leadership and Governance,SDG 16: Peace Justice and Strong Institutions,WEF Governance: Quality of Governing Body,
Company Website - About Us - Board of Directors
Annual Report 2022 (Page 65)
A : 2
B : 4
C : 50
2 out of the 4 members of the remuneration committee are independent. The BNRC shall be responsible for presenting recommendations to the Board regarding nomination to the Board’s membership, review of Board structure on an annual basis, undertake performance evaluation of the overall Board and the performance of each member on annual basis, and developing Bank-wide reward policy in line with applicable laws and regulations. In addition, BNRC shall be responsible for appointment of the senior positions of the Executive Management, ensuring that these positions are occupied by qualified employees along with setting performance standards and succession plans
Nomination Committee Composition Board of Directors Metrics Boursa Kuwait G: Disclosure Practices,GRI 102: GD Governance,IIRF: Intellectual Capital,SASB: Leadership and Governance,SDG 16: Peace Justice and Strong Institutions,WEF Governance: Quality of Governing Body,
Company Website - About Us - Board of Directors
Annual Report 2022 (Page 65)
A : 2
B : 4
C : 50
2 out of the 4 members of the nomination committee are independent members
Risk Committee Composition Board of Directors Committees Metrics
Company Website - About Burgan Bank - Corporate Governance - Board Committees
Sustainability Report 2022 (Page 22)
A : 3
B : 4
C : 75
3 out of 4 members of the Risk Management Committee are Independent. The BRC shall be responsible for providing review and report to the Board on the current and future risk strategy and tolerance along with supervising implementation of this strategy by the Executive Management. The BRC shall ensure existence of effective systems for risk management and independence of these functions. Members Name: Dr. Amani Bouresli (Chairman (Independent)) Mr. Michel Accad (Member (Independent)) Mr. Fouad Douglas (Member (Independent)) Mr Mazen Hawwa (Member)
Board Member Alternative Commitments Board of Directors Committees Ratings Focus Boursa Kuwait G: Disclosure Practices,GRI 102: GD Governance,IIRF: Intellectual Capital,SASB: Leadership and Governance,SDG 16: Peace Justice and Strong Institutions,WEF Governance: Quality of Governing Body,
Annual Report 2022 (Page 59 - 62)


The Details of other board position is disclosed in annual report 2022
Financial Expertise on Audit Committee Board of Directors Committees Boursa Kuwait G: Disclosure Practices,GRI 102: GD Governance,IIRF: Intellectual Capital,SASB: Leadership and Governance,SDG 16: Peace Justice and Strong Institutions,WEF Governance: Quality of Governing Body,
Company Website - About Us - Corporate Governance - Board Committees
Annual Report 2022 (Page 59 - 62)


All members of the audit committee have financial expertise
Conflicts of Interest Board of Directors
Annual Report 2022 (Page 69)
Code of Conduct - Employees (Page 5)
Company Website - About Burgan Bank - Principles and Standards of Business Conduct


Conflicts of Interest: Under the CBK corporate governance instructions, Board members are required to disclose to the Board any interest they may have that might cause a conflict of interest. Any Board member with a material personal interest in a matter being considered by the Board shall not attend nor vote on the matter being considered. Board Secretary maintains a record of Board members’ interests that is presented to the Board of Directors on annual basis and is updated as and when changes occur
Shareholder over 20% Ownership Ratings Focus Metrics Shareholders BRSR: Principle 4,GRI 102: GD Governance,IIRF: Social and Relationship Capital,SASB: Leadership and Governance,SDG 16: Peace Justice and Strong Institutions,WEF Governance: Risk and Opportunity Oversight,
External - Kuwait Stock Exchange


Kuwait Projects Company Holding & Group (Overland Real Estate Co., United Industries Co., Kuwait United Consultancy Co., United Gulf Holding Co.) - 64.33%
Directors’ Shareholder Ownership Board of Directors Ratings Focus Shareholders
External - Kuwait Stock Exchange


Director's ownership is disclosed on the stock exchange
Executive Shareholder Ownership Executive Management Managing Director Ratings Focus Shareholders GRI 102: GD Governance,IIRF: Intellectual Capital,SASB: Leadership and Governance,SDG 16: Peace Justice and Strong Institutions,WEF Governance: Ethical Behaviour,
External - Kuwait Stock Exchange


Executive shareholder ownership is disclosed on stock exchange
Material Executive Share Trading Executive Management Transparency GRI 102: GD Ethics and Integrity,IIRF: Intellectual Capital,SASB: Leadership and Governance,SDG 16: Peace Justice and Strong Institutions,WEF Governance: Ethical Behaviour,
Code of Conduct - Board Members (Page 6)
Company Website - About Burgan Bank - Board of Director
Boursa Kuwait Stock Exchange


In any dealing in securities, Board Members must abide by the provisions of applicable laws, rules and regulations, including those of CBK, MoCI CMA and/or Boursa. Board Members are prohibited from deriving benefit, or assisting others to derive benefit, as a result of possessing “insider information” concerning the Bank, its customers and/or its relationships (i.e. information not in the public domain that, if made available to the public, could materially affect the price of securities)
Executive Pay Disclosures Executive Management Managing Director Transparency Boursa Kuwait G: Disclosure Practices,Boursa Kuwait G: Incentivized Pay,BRSR Principle 5: Human Rights ,GRI 102: GD Governance,IIRF: Intellectual Capital,SASB: Leadership and Governance,SDG 16: Peace Justice and Strong Institutions,WEF People: Dignity and Quality,
Annual Report 2022 (Page 75)
Annual Report 20222 (Page 105)


Executive pay disclosures are done in Annual Report 2022
Executive Pay Performance Alignment Policies Ratings Focus Executive Management Policies Boursa Kuwait G: Incentivized Pay,GRI 102: GD Governance,IIRF: Intellectual Capital,SASB: Leadership and Governance,SDG 17: Partnerships to achieve the Goal,WEF Governance: Quality of Governing Body,
Annual Report 2022 (Page 103)


The banks remuneration practices are linked to both short term and long term performance goals. Key financial and non-financial performance measures are aligned to the Bank’s business strategy. Performance based remuneration is based on the bonus pools allocated by the BNRC/Board for the purpose of rewarding employee performance. The rewards are based on the bank’s overall performance, department/group performance and individual contribution thereof. The senior management team’s performance is measured through balanced scorecard which reviews the key performance areas of Customer focus, financial performance, process improvement and people management. All other employees in the bank have annual performance appraisals assessing financial and non-financial objectives based on their roles
Shareholding Details Ratings Focus Shareholders GRI 102: GD Governance,IIRF: Intellectual Capital,SASB: Leadership and Governance,SDG 16: Peace Justice and Strong Institutions,WEF Governance: Stakeholder Engagement,
External - Kuwait Stock Exchange


Shareholding details are disclosed on stock exchange
Voting Results Transparency Shareholders Transparency GRI 102: GD Governance,IIRF: Intellectual Capital,SASB: Leadership and Governance,SDG 16: Peace Justice and Strong Institutions,WEF Governance: Stakeholder Engagement,
Result of 58th Ordinary General Assembly Meeting


All the clauses stipulated in the agenda have been approved
Disclosure of Board and Subcommittee Attendance Board of Directors Ratings Focus Boursa Kuwait G: Disclosure Practices,GRI 102: GD Governance,IIRF: Intellectual Capital,SASB: Leadership and Governance,SDG 17: Partnerships to achieve the Goal,WEF Governance: Quality of Governing Body,
Annual Report 2022 (Page 64)


Board Committee meetings attendance is disclosed in the Annual Report 2022
Failure to Secure Voting Approval Shareholders GRI 102: GD Governance,IIRF: Social and Relationship Capital,SASB: Leadership and Governance,SDG 17: Partnerships to achieve the Goal,WEF Governance: Quality of Governing Body,
Result of 58th Ordinary General Assembly Meeting


All the clauses stipulated in the agenda have been approved
Sensitivity Analysis and Stress Testing Ratings Focus Risk Control GRI 102: GD Governance,IIRF: Intellectual Capital,SASB: Leadership and Governance,SDG 16: Peace Justice and Strong Institutions,WEF Governance: Risk and Opportunity Oversight,
Annual Report 2022 (Page 122)
Annual Report 2022 (Page 171)


The Bank’s Liquidity management policies and limits ensure that liquidity is maintained at sufficiently comfortable levels to support operations and meet payment demands even under stressed market conditions. The Bank also has in place comprehensive stress testing policies and liquidity contingency funding that incorporate multiple scenarios covering both specific and general market-related events. The purpose of liquidity stress testing is to determine the incremental funding that may be required under extreme scenarios. Stress testing is fully integrated into the Bank’s liquidity risk management framework. It assesses the Bank’s ability to generate sufficient liquidity under extreme conditions and is a key input when defining liquidity targets and limits; The Group conducts sensitivity analysis on regular intervals in order to assess the potential impact of any major changes in fair value of equity instruments. Based on the results of the analysis conducted there are no material implication over the Group’s profit or other comprehensive income for a 5% fluctuation in major stock exchanges
Stakeholder Inclusiveness Stakeholders
Sustainability Report 2022 (Page 31)


Burgan Bank communicates with key stakeholders on a regular basis through a variety of channels to stay well connected and takes cognisance of their expectations. Our key stakeholders are those who impact our strategy the most or are directly impacted by it. They comprise of our investors, customers, employees, society, regulators and policy-makers We routinely engage with stakeholders on sustainability to ensure they have accurate, credible information about our bank and to communicate how we’re considering their priorities in our strategy
Soliciting Stakeholder ESG Feedback Feedback PE: Operating Performance
Sustainability Report 2022 (Page 71)


The reporting is aimed at a broad range of audiences, including but not limited to Regulators, Investors, Customers, Researchers, NGOs, Governments and other more generalist audiences, including citizens. Readers are welcome to submit their feedback or suggestions about this report to ESG@burgan.com
Board Oversight of Data Protection and Cybersecurity Data Protection and Cyber Security
Sustainability Report 2022 (Page 55)


The Board risk committee is responsible for Privacy and Data security governance, And policy and strategic guidance for the banks digital future in a safe manner. The Bank undertakes system audit at least once a year to identify any data security and privacy risks in the current systems and adequately address them. Burgan Employees are provided cyber security mandatory awareness sessions upon joining, as well as online training on data privacy, data security and cyber security on an annual basis. Employees are updated through monthly awareness newsletters, info emails, Intranet portal, posters, and screen savers. All employees have access to the Information and cybersecurity policies and procedures through the Intranet portal and are encouraged to familiarise themselves frequently
Number of Data Breach Incidents Data Protection and Cyber Security Metrics
Sustainability Report 2022 (Page 55)
A : 0

Burgan Bank has zero tolerance for system attacks or breaches and views data security, data privacy, and data-system integrity as crucial to their business operations. The Bank has detailed out a dedicated privacy policy on its website, which is applicable to all operations of the Bank including its subsidiaries. Cyber security and data security are one of the identified risks in the bank’s risk management procedures. These risks are regularly reviewed and monitored to identify the movement and emerging threats if any
Data Protection Programs for Stakeholders Data Protection and Cyber Security
Sustainability Report 2022 (Page 55)


Burgan Bank has zero tolerance for system attacks or breaches and views data security, data privacy, and data-system integrity as crucial to their business operations. The Bank has detailed out a dedicated privacy policy on its website, which is applicable to all operations of the Bank including its subsidiaries. The Board risk committee is responsible for Privacy and Data security governance, And policy and strategic guidance for the banks digital future in a safe manner. The Bank undertakes system audit at least once a year to identify any data security and privacy risks in the current systems and adequately address them
Resilience
Crisis Related Contingency Plans Climate PE: Entry Due Diligence BRSR: Principle 6,GRI 102: GD Strategy,SASB: Business Model and Innovation,SDG 03: Good Health and Wellbeing,WEF People: Dignity and Quality,
Sustainability Report 2021 (Page 51)


Implementing Business Continuity Management is critical to ensure that we maintain and continue our business operations in case of any unforeseen circumstances. During crises, such as natural disasters, force majeure events, technology failure, epidemics, or a pandemic, our aim is to ensure that financial losses are minimized, we continue to serve our customers and ensure quick recovery from the business disruptions with minimum negative impacts. All our business functions are responsible for identifying and prioritizing their activities to support business continuity management. COVID-19 was a key disruption for 2020 and 2021 and the Bank adopted multiples measures to ensure our business continuity
Managing Move to a Low Carbon Economy Climate Ratings Focus CDP: Climate,GRI 102: GD Strategy,SASB: Business Model and Innovation,SDG 13: Climate Action,TCFD: Risk Management,TCFD: Strategy,UNGC Principle 07 Environment ,WEF Planet: Climate Change,
Sustainability Report 2022 (Page 63)


Burgan Bank is adapting and operating in an ever-changing ESG landscape. The Bank focuses on minimising its environmental footprint. We are committed to contributing to the national and global climate agenda. As energy and climate are intertwined, we start by looking inward by measuring and reducing our energy consumption. Burgan Banks direct and indirect energy consumption consists primarily of high-speed diesel and purchased electricity respectively. The Bank has significantly decreased its total energy consumption as compared to last year by emphasizing on optimizing energy use and initiating energy efficiency initiatives throughout the operations. In 2022, Burgan Bank undertook the initiative of installing occupancy sensor lights and motion sensor lights in identified areas at the Burgan Head office building. It is expected to result in significant reduction in power consumption beyond the business hours. By 2024, this initiative will also be rolled out to all the branches. The Bank external signages and lights have also been migrated to solar powered in 2022
Data Privacy, Cybersecurity and Systems Protection Data Protection and Cyber Security PE: Entry Due Diligence Ratings Focus Risk Control Boursa Kuwait G: Data Privacy,BRSR Principle 9: Provide Value to Consumers,GRI 102: GD Strategy,SASB: Business Model and Innovation,SDG 16: Peace Justice and Strong Institutions,WEF Governance: Stakeholder Engagement,
Sustainability Report 2022 (Page 55)


Burgan Bank has zero tolerance for system attacks or breaches and views data security, data privacy, and data-system integrity as crucial to their business operations. The Bank has detailed out a dedicated privacy policy on its website, which is applicable to all operations of the Bank including its subsidiaries. It follows CBK-mandated cyber compliance programmes including CBK-CSF (Cyber security framework), Payment card industry standards (PCI), Information security management systems (ISMS), Privacy Management information systems (PIMS), and Swift Customer Security Program (CSP- from 2018). Burgan Bank also has been ISO 27001:2013 certified since 2020 and Payment Card Industry Data Security Standard (PCI DSS) certification since 2017. Burgan was the first bank to be certified for Privacy Information Management Systems (PIMS - 27701:2019) since 2021. As result, the Bank has Zero data breaches in its system for the year 2022
IT Security, Cybersecurity Process and Infrastructure Data Protection and Cyber Security
Sustainability Report 2022 (Page 55)


Burgan Bank has been ISO 27001:2013 certified since 2020 and Payment Card Industry Data Security Standard (PCI DSS) certification since 2017. Burgan was the first bank to be certified for Privacy Information Management Systems (PIMS - 27701:2019) since 2021
COVID-19: Consistency with ESG Policies Policies GRI 102: GD Reporting Practice,SASB: Business Model and Innovation,SDG 03: Good Health and Wellbeing,WEF People: Dignity and Quality,
Sustainability Report 2021 (Page 51)


COVID-19 was a key disruption for 2020 and 2021 and the Bank adopted multiple measures to ensure our business continuity. We also ensured the wellbeing of our employees with utmost priority by rolling out various employee welfare initiatives and we achieved minimum disruption of business services using a hybrid working model. It included activation of work-from-home (WFH) with our IT infrastructure scaled up to accommodate WFH using Virtual Private Network (VPN) capabilities. Post lockdown, we implemented a phased return to office plan for employees in various business functions depending on the nature and requirement of tasks. We published several COVID-19-related guidelines in line with local and international norms related to social distancing, contact tracing, quarantine, restricted business travel and halting of physical meetings and events. Our cybersecurity capabilities were enhanced to ensure smooth WFH for the employees and to prevent or mitigate operational risks
COVID-19: Communication of Crisis Actions Workforce Responsibility GRI 102: GD Reporting Practice,SASB: Leadership and Governance,SDG 03: Good Health and Wellbeing,WEF People: Dignity and Quality,
Sustainability Report 2021 (Page 51)


COVID-19 was a key disruption for 2020 and 2021 and the Bank adopted multiples measures to ensure our business continuity. We also ensured wellbeing of our employees with utmost priority by rolling out various employee welfare initiatives and we achieved minimum disruption of business services using a hybrid working model. It included activation of work from home (WFH) with our IT infrastructure scaled up to accommodate WFH using Virtual Private Network (VPN) capabilities. Post lockdown, we implemented a phased return to office plan for employees in various business functions depending on the nature and requirement of tasks. We published several COVID-19 related guidelines in line with local and international norms related to social distancing, contact tracing, quarantine, restricted business travel and halting of physical meetings and events. Our cybersecurity capabilities were enhanced to ensure smooth WFH for the employees and preventing or mitigating operational risks
COVID-19: Responsible Labour Practices Workforce Responsibility GRI 102: GD Reporting Practice,SASB: Business Model and Innovation,SDG 03: Good Health and Wellbeing,WEF People: Dignity and Quality,
Annual Report 2021 (Page 42)


We helped our people work confidently through the pandemic through rigorous safety protocols, flexible hybrid working models and wellness resources to navigate the challenges of managing work and family. Burgan Bank’s Human Resources Group rolled out several initiatives to create a human centric environment with a focus on employee wellness including: Sessions run by the Learning & Talent Development team to promote employee engagement and to provide coping strategies for those struggling with the challenges brought on by the pandemic. These included sessions on stress management, Reiki, office yoga and meditation; Encouraging our employees to protect themselves by holding vaccination campaigns on site for easy and quick access to the COVID-19 vaccine; Sponsoring free preventive health check-ups for all employees; and Breast cancer awareness sessions with significant employee discounts on early detection mammograms
COVID-19: Adapting to Technology Needs Technology GRI 203: Indirect Economic Impacts,SASB: Business Model and Innovation,SDG 03: Good Health and Wellbeing,WEF People: Dignity and Quality,
Sustainability Report 2021 (Page 51)


Our cybersecurity capabilities were enhanced to ensure smooth WFH for the employees and preventing or mitigating operational risks
COVID-19: Implementing Health and Safety Plans Health and Safety Boursa Kuwait S: Global Health and Safety,BRSR Principle 3: Promote Well-being ,GRI 403: Occupational Health and Safety,SASB: Business Model and Innovation,SDG 03: Good Health and Wellbeing,WEF People: Dignity and Quality,
Sustainability Report 2021 (Page 39)
Annual Report 2021 (Page 42)


Burgan Bank conducted an internal vaccination campaign in cooperation with the Ministry of Health to encourage employees taking Covid-19 vaccine where 85% of registered employees got vaccinated. Sessions run by the Learning & Talent Development team to promote employee engagement and to provide coping strategies for those struggling with the challenges brought on by the pandemic. These included sessions on stress management, Reiki, office yoga and meditation. Encouraging our employees to protect themselves by holding vaccination campaigns on site for easy and quick access to the COVID-19 vaccine; sponsoring free preventive health check-ups for all employees. Burgan Bank conducted an internal vaccination campaign in cooperation with the Ministry of Health to encourage employees taking Covid-19 vaccine where 85% of registered employees got vaccinated. Sessions run by the Learning & Talent Development team to promote employee engagement and to provide coping strategies for those struggling with the challenges brought on by the pandemic. These included sessions on stress management, Reiki, office yoga and meditation. Encouraging our employees to protect themselves by holding vaccination campaigns on site for easy and quick access to the COVID-19 vaccine; sponsoring free preventive health check-ups for all employees
COVID-19: Community Contributions Metrics GRI 203: Indirect Economic Impacts,SASB: Business Model and Innovation,SDG 03: Good Health and Wellbeing,WEF People: Dignity and Quality,
Annual Report 2021 (Page 20)
Sustainability Report 2020 (Page 42)


The bank ran a blood donation drive and donated medical equipment to help fight against COVID-19. Since the beginning of the pandemic and curfew measure implementation, the Bank worked closely with the Government and the Central Bank of Kuwait to provide support to the economy in a quick and efficient way and to support its customers in their financial needs. Moreover, the Bank supported government efforts to combat the spread of the pandemic by contributing towards fund created by Central Bank of Kuwait (CBK) and donated KD 1 million to Kuwait’s Red Crescent Society
Materiality Assessment
Materiality Assessment Year
Sustainability Report 2022 (Page 16)


2023
Previous Materiality Assessment Year
Sustainability Report 2022 (Page 16)


2019
Materiality Categories
Sustainability Report 2022 (Page 17)


Materiality Categories: 4
Material Topics
Sustainability Report 2022 (Page 17)


Material Topics: 19
Methodology and Key Highlights
Sustainability Report 2022 (Page 16)


The Bank conducts a structured Materiality Assessment to assess its sustainability issues by studying and reviewing national and global sustainability context and taking into consideration the opinions of stakeholders. At Burgan Bank, a detailed materiality exercise is conducted at regular intervals to understand the challenges faced in business processes, the external environment, geographical expansion and global trends on ESG factors that impact the Bank that have been identified as material topics. The Bank prioritizes the most material topics on the basis of interaction with stakeholders and independent analysis
Stakeholder Engagements Materiality Stakeholders
Sustainability Report 2022 (Page 16)


The Bank conducts a structured Materiality Assessment to assess its sustainability issues by studying and reviewing national and global sustainability context and taking into consideration the opinions of stakeholders. The Bank prioritizes the most material topics on the basis of interaction with stakeholders and independent analysis
Materiality Disclosure Method Materiality Stakeholders
Sustainability Report 2022 (Page 17)


Material topics are disclosed in Sustainability Report 2022
Materiality Matrix Materiality Stakeholders Strategy
Sustainability Report 2022 (Page 17)
A : 19
B : Impact on Business
C : Influence on stakeholders
Materiality Matrix is disclosed in the Sustainability Report 2022
Materiality Prioritisation Materiality Stakeholders Strategy
Sustainability Report 2022 (Page 17)
A : 8
B : 6
C : 5
Materiality prioritisation is disclosed in the Sustainability Report 2022
Frequency of Materiality Reviews Materiality Stakeholders
Sustainability Report 2022 (Page 16)


The Bank reviews the adequacy of material topics through engagement methods with stakeholders every 3 years
Recognised ESG Frameworks Links ESG Frameworks Materiality
Sustainability Report 2022 (Page 16)
A : SASB
B : GRI
Sustainable Accounting Standards Board (SASB) and GRI Standards are available in Sustainability Report 2022
Diversity and Equal Opportunity Material Topic
Sustainability Report 2022 (Page 17)
Sustainability Report 2022 (Page 34)


Our commitment to diversity and inclusion supports a vibrant workplace that attracts and retains the best talent in a competitive labor market, which ultimately leads to greater organizational resilience through times of change. The Bank recognizes the enormous value of diversity and makes efforts to promote a culture rich in diversity, equality, inclusiveness and non-discrimination. The Bank has exercised best practices over the years leading to a diverse workforce with a strong focus on women empowerment, a well-balanced gender mix, as well as a stable gender-balanced hiring and turnover rate
Non-discrimination Material Topic
Sustainability Report 2022 (Page 17)
Sustainability Report 2022 (Page 38)


At Burgan Bank, we are committed to maintaining a workplace that is free from discrimination. We have implemented practices and policies to foster a diverse culture in the bank. As a result of these efforts, we are proud to report that we had zero cases of discrimination reported during the year. We have adopted a non-discrimination policy that ensures all employees are entitled to equal benefits, regardless of their gender, religion, or race. Our commitment to a discrimination-free workplace, our employees can escalate any discrimination issues through HR business partners. We track and report all incidents to ensure a safe and inclusive work environment for all
Business Integrity Material Topic
Sustainability Report 2022 (Page 17)
Sustainability Report 2022 (Page 21)


Burgan Bank operates within a well-defined governance structure and incorporates governance principles and practices into its operations that are founded on the four pillars of accountability, transparency, fairness, and integrity. The Bank abides by a strict Code of Conduct in its business practices and decision-making. It follows the guidelines of the Central Bank of Kuwait, which are based on Basel Committee recommendations on Corporate Governance
Anticorruption Material Topic
Sustainability Report 2022 (Page 17)
Sustainability Report 2022 (Page 26)


The Bank has in place stringent policies supported by the processes and resources for effective implementation. The Code of Conduct and AML/CTF Policy holistically addresses combating financial crimes and anti-corruption within the Group. Anti-corruption parameters have been communicated to all employees and Board Members through the Code of Conduct. The efforts of responsible Governance, have resulted in Zero confirmed cases of corruption in 2022
Regulatory Compliance Material Topic
Sustainability Report 2022 (Page 17)
Sustainability Report 2022 (Page 26)


The Board Corporate Governance Committee (BCGC) is responsible for assessing the Bank’s management of its compliance risk effectively. The independent compliance team perform compliance risk assessment, compliance testing, educate staff on compliance matters and develop mitigation / response plan in case any non-compliance are identified
Economic Performance Material Topic
Sustainability Report 2022 (Page 17)
Sustainability Report 2022 (Page 74)


To deliver economic performance that goes beyond the financial returns for our investors and also encompasses a wider impact that we create as an employer and generator of economic activity
E-banking Material Topic
Sustainability Report 2022 (Page 17)
Sustainability Report 2022 (Page 50)


Burgan Bank aims to remain relevant to their customers in the digitalized world and has rolled out multiple digital initiatives to enhance the customer experience. In last three years, its digital subscriber base has grown from 26% to 60% and volume of digital transactions increased by 75%. Burgan Bank’s mobile app has the highest overall rating of 4.7 (out of 5) among the local bank apps (iOS & Android). The overall satisfaction rate for Burgan online is 92.6% based on in-app surveys
Responsible Lending and Investing Material Topic
Sustainability Report 2022 (Page 17)
Sustainability Report 2022 (Page 65)


Responsible banking is imbibed into the culture of Burgan Bank. To implement its ESG Framework, and promote responsible financing, the Bank instituted an ESG Integration Model that shall seamlessly integrate its ESG considerations with its overall engagement, financial and investment processes. Burgan is committed to conducting ESG risk assessments to ensure that the credit/investment analysis of borrowing entities/ investee companies and investment decision making processes are aligned with Bank’s ESG considerations. The Bank is taking active steps to incorporate ESG risk management framework in the bank’s risk processes and policies
Data Security and Privacy Material Topic
Sustainability Report 2022 (Page 17)
Sustainability Report 2022 (Page 55)


Burgan Bank has zero tolerance for system attacks or breaches and views data security, data privacy, and data-system integrity as crucial to their business operations. The Bank has detailed out a dedicated privacy policy on its website, which is applicable to all operations of the Bank including its subsidiaries. Cyber security and data security are one of the identified risks in the bank’s risk management procedures. These risks are regularly reviewed and monitored to identify the movement and emerging threats if any. The Board risk committee is responsible for Privacy and Data security governance, And policy and strategic guidance for the banks digital future in a safe manner. The Bank undertakes system audit at least once a year to identify any data security and privacy risks in the current systems and adequately address them
Financial Literacy and Inclusion Material Topic
Sustainability Report 2022 (Page 17)
Sustainability Report 2022 (Page 54)


Burgan bank is committed to enhance financial literacy of our customers and the wider community through a range of digital offerings and communication channels. Our website is regularly updated with the customer protection guide and customer rights and responsibilities. We also provide periodic security alerts for safeguarding personal information and preventing fraud. Burgan Bank is committed to fair marketing and communications activities which are consistently: Ethical, open, transparent, clear, appropriate and timely; Aligned with the Bank’s strategy and objectives; tailored to meet the expectations and requirements of all of the Bank’s major stakeholders
Kuwaitisation Material Topic
Sustainability Report 2022 (Page 17)
Sustainability Report 2022 (Page 43)


Burgan Bank’s efforts are focused towards Kuwaitisation which further aligns with Kuwait’s National Development Plan to develop local talent. Burgan Bank Kuwaitization ratio for 2022 was 80.35% with 1.23% increase from last year. Among new recruits, 93% were Kuwaitis and 88% of total staff promoted to higher jobs in 2022 were Kuwaitis; Burgan Bank connects with local talent development programs by participating in career fair, sectoral competency development programs and training programs for students. The Bank is aligned to the Central Bank of Kuwait’s strategic vision for developing national competencies and cadres in the banking and financial sector
Customer Experience Material Topic
Sustainability Report 2022 (Page 17)
Sustainability Report 2022 (Page 47)


Customer focus has been a core value of the bank and delivering excellent customer service has been key to our continued success. As reflected by our tag line “Driven by You” and in line with the revised strategy of the bank, we are institutionalizing a “Customer First” culture at the Bank. Customer First means respecting every customer, addressing their enquiries or complaints on time/every time. To achieve this, the Bank has created an independent Customer Experience Management department to focus on permeating the “Customer First” culture across all businesses of the Bank- Corporate, Wealth management, Private and Retail banking
Training and Education Material Topic
Sustainability Report 2022 (Page 17)
Sustainability Report 2022 (Page 45)


Learning and Talent Development at Burgan Bank has undergone significant transformation to evolve in line with the rapid shifts in customer expectations, technology and the corporate environment. The nature of learning in our organization has been changed by updating our learning methods, blending classroom learning with digital learning and implementing flipped learning that enhances employee’s critical thinking abilities. Various channels have been incorporated to enhance the learning experience of our employees such as the Burgan LTD digital platform, the learning mobile app as well as classroom and innovation lab facilities. Our Learning and Talent Development (LTD) program includes a wide range of technical and behavioral trainings in the areas such as leadership skills, technical certifications, talent development programs, on the job rotations, coaching and mentoring, holistic banker programs, compliance / risk, health & safety awareness programs, new joiner programs, competency-based programs etc. The increased use of the online learning portal has widened the outreach of LTD initiatives across the organization
Employee Satisfaction Material Topic
Sustainability Report 2022 (Page 17)
Sustainability Report 2022 (Page 74)
Sustainability Report 2022 (Page 41)


Our employees’ well-being and satisfaction is of utmost importance to us as it helps in improving employee efficiency, effectiveness and morale; Burgan Bank works actively to promote good health and provide a safe work environment for our employees. The Bank has rolled out a wellness program for its employees for the second year in a row with a leading health provider
Corporate Social Responsibility Material Topic
Sustainability Report 2022 (Page 17)
Sustainability Report 2022 (Page 57)


Burgan Bank aims to create a positive change in the world and is committed to building a better society. Burgan Bank’s approach towards societal responsibility has always been holistic and proactive. The Bank seeks to serve as a true community partner and engaged corporate citizen; working with individuals from across the community, civic organizations, and national institutions to create real positive change across various sectors of society. Burgan’s positive impact program in 2022 encompassed numerous initiatives under its umbrella, which are aligned to its focus areas of health, education, community, sports and environment
Supplier Social Assessment Material Topic
Sustainability Report 2022 (Page 17)
Sustainability Report 2022 (Page 74)


To ensure our suppliers are assessed in terms of social aspects which will enable social inclusion in entire value chain
Energy Consumption Material Topic
Sustainability Report 2022 (Page 17)
Sustainability Report 2022 (Page 63)


The Bank focuses on minimising its environmental footprint. We are committed to contributing to the national and global climate agenda. As energy and climate are intertwined, we start by looking inward by measuring and reducing our energy consumption. Burgan Banks direct and indirect energy consumption consists primarily of high-speed diesel and purchased electricity respectively. The Bank has significantly decreased its total energy consumption as compared to last year by emphasizing on optimizing energy use and initiating energy efficiency initiatives throughout the operations. Energy savings initiatives by the Bank have helped reduce energy consumption by 18.7%
Supplier Environment Assessment Material Topic
Sustainability Report 2022 (Page 17)
Sustainability Report 2022 (Page 74)


To ensure our suppliers are assessed in terms of environmental aspects which will enable environmental considerations inclusion in entire value chain
Waste Management Material Topic
Sustainability Report 2022 (Page 17)
Sustainability Report 2022 (Page 64)


Effective waste management plays a crucial role, in reducing the Bank’s negative environmental effects, and the Bank has established waste management standards that are implemented throughout the Bank. The Bank is also identifying a number of initiatives to lower waste generation. Due to the nature of its business, the Bank does not generate any significant hazardous waste. The electronic waste generated at the facilities is recycled through collection and sale to authorized dealers in the local market. Burgan Bank tackles e-waste by recycling responsibly to minimise the impact on the environment. In 2022, the Bank recycled 4 tonnes of E-waste
Awards and Recognitions
Governance Awards
Annual Report 2022 (Page 6)
Annual Report 2021 (Page 32)
Annual Report 2021 (Page 3)


Won 4 Awards from “Global Finance” for Digital Banks in Kuwait: Best Open Banking APIs; Best Information Security and Fraud Management; Best SME Banking; Best Mobile Banking Adaptive Site. AGB has succeeded in establishing itself as a major private bank in Algeria. AGB was recognised as a major player in the digitalisation space and was awarded Best banking Service in Algeria during 2021. The Bank won 4 awards from “Global Finance” for Digital Banks in Kuwait: Best Website Design; Best Information Security & Fraud Management; Best Open Banking APIs
Social Awards
External Website
Annual Report 2021 (Page 6)


Burgan Bank recently received the coveted ‘Elite Quality Recognition Award’ for the year 2021 from JPMorgan Chase N.A., in recognition of its consistently high-quality performance. The award highlights the Bank’s advanced standards maintained in the complete range of client US Dollar funds transfer operations by both management and staff; Year after year, our robust character and stable long-term outlook is reaffirmed with certifications and ratings awarded by distinguished internationally renowned institutions. For instance, Burgan Bank is the only bank in Kuwait to have won the JP Morgan Chase Quality Recognition Award for 20 consecutive years. This assurance of quality and robustness are reinforced by our customers and shareholders trust that will continue to honour in the years to come
Customer Awards
Annual Report 2022 (Page 6)
Sustainability Report 2022 (Page 67)


Burgan Bank Won 4 Awards from “Global Finance” for Digital Banks in Kuwait: Best Open Banking APIs; Best Information Security and Fraud Management; Best SME Banking; Best Mobile Banking Adaptive Site; Won for Digital Banking Services: Best Digital Bank Award
Employer Recognition Awards Ratings Focus GRI 412: Human Rights Assessment,IIRF: Human Capital,SASB: Human Capital,SDG 08: Decent Work and Economic Growth,UNGC Principle 02 Human Rights,WEF People: Dignity and Quality,
Sustainability Report 2022 (Page 67)


2022 Turkey’s Happiest Workplaces Award; 1 Star Happy Place to Work in the Banking Sector Certificate and Award
Verification and Assurances
SDG Reconciliations Metrics Reporting Boursa Kuwait G: External Assurance,GRI 102: GD Organizational Profile,SASB: Leadership and Governance,SDG 00: Goal Reconciliation,SDG 16: Peace Justice and Strong Institutions,WEF Governance: Quality of Governing Body,
Company Website - Investor Relations - Sustainability
Sustainability Report 2022 (Page 15)


The 2030 Agenda for Sustainable Development, adopted by all United Nations Member States in 2015, provides a shared blueprint for peace and prosperity for people and the planet, now and into the future. Burgan Bank is actively working towards contributing to established goals to make the world a better place to live in
GRI Reconciliations Reporting Boursa Kuwait G: External Assurance,GRI 000: Report ,GRI 102: GD Organizational Profile,SASB: Leadership and Governance,SDG 16: Peace Justice and Strong Institutions,WEF Governance: Quality of Governing Body,
Sustainability Report 2022 (Page 15)
Sustainability Report 2022 (Page 75)


The Bank bases its sustainability journey on the sound principles of Global Reporting Initiative (GRI) Standards
SASB Reconciliations Reporting GRI 102: GD Organizational Profile,SASB: Leadership and Governance,SDG 16: Peace Justice and Strong Institutions,WEF Governance: Quality of Governing Body,
Sustainability Report 2022 (Page 15)


The Bank bases its sustainability journey on the sound principles of Global Reporting Initiative (GRI) Standards and the Sustainability Accounting Standards Board (SASB)
Kuwait Boursa ESG Indicators Index Boursa Kuwait G: External Assurance,GRI 102: GD Organizational Profile,SASB: Leadership and Governance,SDG 16: Peace Justice and Strong Institutions,WEF Governance: Quality of Governing Body,
Sustainability Report 2022 (Page 71)
Sustainability Report 2022 (Page 15)


The economic, environmental, and social indicators that contribute to the compilation of the sustainability report have been prepared as per the Global Reporting Initiative (GRI) Universal Standards (2021). The report content is guided by external frameworks of UN Sustainable Development Goals (UNSDG’s), Sustainability Accounting Standards Board (SASB), priorities of Kuwait Vision 2035 “New Kuwait”, and Boursa Kuwait
Ratings and Indices
ESG Ratings Reporting GRI 102: GD Organizational Profile,SASB: Leadership and Governance,SDG 16: Peace Justice and Strong Institutions,WEF Governance: Quality of Governing Body,
Sustainalytics - Burgan Bank
Company Website - About Burgan Bank - Burgan Bank Ratings


ESG Risk Rating: 34.8 (High Risk); MSCI rating upgraded to "BB"
Sustainalytics Ratings Ratings GRI 102: GD Organizational Profile,SASB: Leadership and Governance,SDG 16: Peace Justice and Strong Institutions,WEF Governance: Quality of Governing Body,
Sustainalytics - Burgan Bank


ESG Risk Rating: 34.8 (High Risk)
MSCI ESG Ratings Ratings GRI 102: GD Organizational Profile,SASB: Leadership and Governance,SDG 16: Peace Justice and Strong Institutions,WEF Governance: Quality of Governing Body,
Company Website - About Burgan Bank - Burgan Bank Ratings


MSCI ESG rating: BB
CSR Hub Rating Ratings
CSR Hub - Burgan Bank


ESG Ranking: 31%
S&P Global Ratings Ratings
Annual Report 2022 (Page 7)
Company Website - About Burgan Bank - Burgan Bank Ratings


S&P Ratings: BBB+
ISO and Certifications
ISO 9001 - Quality Management System ISO
Company Website - About Us - Company Overview


The Bank was re-certified with the prestigious ISO 9001:2015, making it the one of the few banks in the GCC and Kuwait to receive such certification for the Fifth consecutive time
ISO 27001 - Information Security Management Ratings Focus ISO
Sustainability Report 2022 (Page 55)


Burgan is certified with ISO 27001:2013 since 2020
ESG Videos and News
All ESG News
Company Website - Burgan News


Available
Environment Related
Under the auspices of Burgan Bank, the Scientific Center presents the program “The Homeland is Not Like It
Google News Link


In partnership with the Scientific Center and within the sustainability strategy and social responsibility program, Burgan Bank sponsors the “Al-Watan has no equal” program - the circuit of the Jahra Reserve, one of the largest protected areas in Kuwait and considered one of the most important stations for bird migration
Social Related
Let's Be Aware Financial Literacy Campaign


Burgan Bank continues its support for the “Let's Be Aware" Financial Literacy Campaign by participating in staff blood donation campaign
Governance Related
Google News Link


Available
Corporate Information
Sustainability Website Environment

https://www.burgan.com/ir/Pages/sustainability.aspx
Year of Incorporation
Annual Report 2022 (Page 14)


Burgan Bank was Incorporated in 1977
Financial Year End PE: Portfolio Profile

1st Jan to 31st Dec
Corporate Address
Company Website - Locate Us


Corporate Address: Burgan Bank Kuwait P.O. Box: 5389, Al Safat 12170 Abdullah Al Ahmed Street, Al Sharq State of Kuwait.
E-mail

Email Id: ir@burgan.com
Financial Reporting Currency
Annual Report 2022


Kuwaiti Dinar (KD)
Telephone

Telephone Number: 22984641
Twitter
Twitter


The Bank is available on Twitter
Instagram
Instagram


The Bank is available on Instagram
Facebook
Facebook


The Bank is available on Facebook
LinkedIn
LinkedIn


The Bank is available on LinkedIn
Website

https://www.burgan.com/Pages/Home.aspx
Last Financial Year

1st Jan 2021 to 31st Dec 2022
Listing Stock Exchange
Boursa Kuwait Stock Exchange


KSE Kuwait Stock Exchange
Paid-up Capital
Consolidated Financial Information (Page 9)
Interim Condensed Consolidated Financial Information (Page 11)
Boursa Kuwait Stock Exchange - Profile


The issued and fully paid-up share capital of the Bank comprises 3,287,812,500 (31 December 2021: 3,131,250,000 and 30 September 2021: 2,756,250,000) shares of 100 fils each
Number of Employees PE: Operating Performance
Annual Report 2022 (Page 8)


Total Employees: 3,827
Profile Sources
Website - Governance
Company Website - About Us - Corporate Governance


​​​​​​​​​​​​​​​​Burgan Bank (“the Bank”) is committed to the highest standards of corporate governance and recognizes that good governance is pivotal in helping the business to deliver its strategies whilst generating sustainable shareholder value and meeting its obligations towards shareholders and other stakeholders. As an essential part of this commitment, the Bank operates within a well-defined governance structure and embeds governance principles and practices in its operations based upon the four cornerstones of accountability, transparency, fairness and integrity. The Bank follows the guidelines of the Central Bank of Kuwait, which are based on Basel Committee recommendations on Corporate Governance
Website - Sustainability