Kuwait City, Mar 12: Warba Bank has entered into an agreement with Taskeen Real Estate Company, which is a digital service provider for the rental property owners’ sector. According to this agreement, property management services are provided at exclusive prices. Through this agreement, Warba seeks to attract individual customers who own rental properties, especially since Taskeen Company's services integrate property management, online rent collection, asset management, leasing, 24-hour maintenance, detailed reports, and legal services.

On this occasion, Mejren Hamad Al-Mejren - Director of Digital Department at Warba Bank, said that we are pleased to sign this agreement with a specialized company that provides distinguished and diverse services, as it will enable Warba Bank’s client to benefit from real estate services as well as view all data and reports related to his registered real estate investments.

Al-Mejren stated that the agreement comes within the policy aimed at supporting small projects and expanding the banking experience to include new, non-traditional sectors, stressing that it will work in a fast, safe and compatible manner with the provisions of Islamic Sharia. Pointing out that it aims to reduce administrative work and risks, provide immediate reports for rents, increase the speed of collection, and avoid cash transactions to reduce the risk of theft.

Al-Mejren continued that the agreement with Taskeen Company comes as confirmation of Warba’s strategy in supporting Kuwaiti youth and supporting owners of viable youth projects, stressing that the Bank will continue its commitment to supporting owners of small and medium enterprises that provide added value and great economic feasibility in the market, and allow young people to develop their ideas and expand their activities, and contribute to accelerating the national economy.

For his part, the CEO and founder of Taskeen Company, Mr. Abdulwahab Suhail Al-Eissa, expressed his gratitude to those in charge of Warba Bank’s services and their keenness to provide services that would facilitate the collection and management of their clients’ properties through digitizing the services and making them accessible among many services through the Warba Bank application.

Taskeen Real Estate Company is one of the first companies that sought to digitally transform the real estate market and provide several services through an application that facilitates real estate owners’ monitoring of their properties and collecting rents without any effort, and on the other hand ensuring fast access to services by tenants. This partnership comes as an important step in the Company's journey to expand in the local and global markets.

Lawyer Ahmed Al-Kulaib, Director of the Legal Department at Teskeen Company, also explained that the digital transformation, especially with regard to signing contracts and issuing notary receipts documented with the electronic encryption system, which we were the first to introduce in the local market, has become a distinguishing mark from all our competitors, because the tenant can prove his payment receipt without the need to receive the original paper copy, as is the case in most of the local market, In addition, the Taskeen client can take any legal action against tenants who violate the requirements of lease contracts or any legal action with just the click of a button through the program, as the electronic connection ensures that the entire transaction is completed within one business day, whether a request to file a lawsuit or a legal inquiry related to the property.

Al-Kulaib concluded that digital transformation, especially with regard to contracts and their documentation, has become a necessary matter in the present time, in line with the future vision and with the laws related to digital transformation that will be applied soon.

Warba Bank is one of the banks that has achieved great successes in a short period, as it occupied a leading position in the field of Islamic digital banking services for individuals, and it is one of the largest local banks in the number of shareholders, and these are among the most prominent components that make the Bank close to all members of society. -