18/11/2024
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18/11/2024
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Shaheen Hamad Al-Ghanem, CEO of Warba Bank,
KUWAIT CITY, November 18: Warba Bank was awarded the titles of "Most Sustainable Bank in Kuwait 2024" and "Best Islamic Digital Banking Services in Kuwait 2024” by the International Business Magazine, solidifying its position as an innovator in sustainability and Islamic digital banking services.
The awards come as part of the magazine’s recognition of leading institutions across various industries. The jury assess nominated institutions based on criteria such as market trends, economic stability, sustainability reports, corporate social responsibility initiatives, and the adoption of cutting-edge technology
The magazine brought forward Warba Bank’s recent partnership with the United Nations Development Program (UNDP) to launch a project focused on sustainable Islamic finance. This initiative emphasizes risk management, reporting, and accountability while bridging Islamic finance with environmental, social, and governance (ESG) investing. It also promotes a collaborative approach to sustainability by equipping participants with the knowledge needed to identify sustainable investment opportunities that align with Islamic principles. Warba Bank further demonstrated its commitment to sustainability by hosting awareness events on World Environment Day.
Another standout achievement was Warba Bank’s 2023 Sustainability Report, which aligned with Global Reporting Initiative (GRI) standards and the United Nations Sustainable Development Goals. The report also complies with guidelines set by the Central Bank of Kuwait, the Capital Markets Authority (CMA), and Boursa Kuwait, underscoring Warba Bank’s dedication to sustainability and its role in Kuwait’s vision for the future.
The magazine also commended Warba Bank’s leadership in digital banking, recognizing its pioneering innovations in the sector. Warba Bank was the first bank in the region to launch a youth-focused banking application featuring an intuitive user interface and advanced functionality. The bank also introduced a fully digital rewards program enabling customers to earn and redeem loyalty points. Through its Express Finance product, existing customers can access Sharia-compliant financing of up to KD 250,000 without visiting a branch. Additionally, the bank launched a digital money box service to encourage saving.
The magazine’s jury further noted Warba Bank’s Financial Advisor feature, available through its app, which provides personalized banking recommendations to enhance customer experiences. These initiatives earned Warba Bank the title of "Best Islamic Digital Banking Services in Kuwait in 2024.”
On this occasion, Shaheen Hamad Al-Ghanem, CEO of Warba Bank,said: “We are proud to receive these prestigious awards from the International Business Magazine. At Warba Bank, we firmly believe that sustainability is a collective responsibility, vital for protecting the future of the next generations. This belief drives us to innovate projects that enhance both environmental and financial wellbeing. We aim to lead the digital future while prioritizing our customers' financial prosperity.”
Al-Ghanemadded that Warba Bank’s technologically advanced digital banking services have become a priority for customers, reinforcing the bank’s position as a leader in the Islamic banking sector.
The International Business Magazine Awards is a renowned platform celebrating global excellence in business and finance. It recognizes outstanding achievements by industrial leaders and organizations worldwide.
Having achieved significant milestones in a short period, Warba Bank has acquired a leading position as a provider of innovative digital banking services to individuals and businesses. The Bank is also one of the local banks with the highest number of shareholders, further strengthening its commitment to serving every segment of the local community.
