01/10/2024
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01/10/2024
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KUWAIT CITY, Oct 01: Warba Bank announced the distribution of the fourth edition of the book of Sharia Fatwas for the second time this year, following the great demand and interest that the book witnessed during its first distribution, which was during the AAOIFI 22nd Annual Shari’ah Boards Conference, which was held in Bahrain on April 28 and 29, 2024 under the golden sponsorship of Warba Bank, aiming to sponsor and enhance the spread of Islamic banking and treating its Sharia issues at the local and international levels.
This book is distinguished by the depth of its content related to the fatwas of the Sharia Supervisory Board related to the Bank’s activities and products; in addition to its distinctive printing on environmentally friendly paper, in accordance with Warba Bank’s strategy to preserve the environment and support sustainable transformation.
Abdullah Abdul Rahim Fakhru, Acting Senior Director of Sharia Management, explained that the fourth edition of the Fatwas book contains the decisions of the Sharia Supervisory Board regarding the Bank’s various services and products, and a presentation of the Sharia treatments for some of the delicate issues of specialization. Warba Bank also provided an interactive version of it in Arabic and English via the Warba Bank application, which customers and non-customers can benefit from, in addition to a copy in PDF format.
Fakhru stated that publishing the decisions and fatwas of the Sharia Supervisory Board comes in accordance with the requirements of Sharia Supervisory Governance issued by the Central Bank of Kuwait on December 20, 2016, to enhance the principle of transparency with clients and increase their confidence in the legitimacy of the services and products provided by Warba Bank, which leads to enhancing the role of Islamic banking in society.
Fakhru said: The Sharia sector in Islamic banks, with all its specializations, is no longer just a tool for monitoring the institution’s work; rather, it has become a major contributor to all the products and services it provides, and all the activities it undertakes, and the continuous work to develop them in accordance with the provisions of Sharia.
Warba Bank is one of the banks that have achieved great successes in a short period of time, as it has occupied a leading position by providing innovative digital banking services in accordance with Islamic Sharia for individuals and companies, and is one of the local banks with the largest number of shareholders, and these are among the most prominent elements that make the Bank close to all members of society.
