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DUBAI, UAE, August 28, 2024 /EINPresswire.com/ -- The International Business Magazine Awards recognise organisations that excel in their various disciplines. The jury considered each nominee based on market trends, economic stability, sustainability reports, CSR activities, adoption of innovative technology, etc. Warba Bank won hands down because it lived up to these stringent standards and exceeded expectations.
Their recent partnership with UNDP to initiate a project aimed at enhancing Islamic finance demonstrates their dedication to sustainability. The project places a strong emphasis on risk management, open reporting, and accountability in an effort to strengthen the synergies between Islamic finance and ESG investing. It fosters a cooperative approach to finance and sustainability by providing participants with the information necessary to recognise sustainable investment possibilities that comply with Shariah. Similarly, Warba Bank hosted an awareness event regarding the sustainability project and environmental preservation on World Environment Day.
Warba Bank has issued its own report on sustainability for the year 2023, which includes disclosures about the Global Reporting Initiative (GRI) standards and the United Nations Sustainable Development Goals, in addition to following the Central Bank of Kuwait’s guidelines on sustainable financing, the Capital Markets Authority’s sustainability report regulations, and the Kuwait Stock Exchange’s guide.
Recognising these efforts towards sustainability and a better future, International Business Magazine bestowed Warba Bank with the prestigious title of ‘Most Sustainable Bank, Kuwait 2024’. Warba Bank aims to further contribute and diversify its reach across the region, adding to Kuwait’s vision for the future.
Warba is positioned as a digital-first bank thanks to its numerous revolutionary digital banking innovations, especially in Kuwait. Warba was the first bank to offer a banking app for youth in the region with a satisfying UX (user experience) and feature-rich interface. Additionally, it provides a fully digital reward programme that lets customers accrue and spend loyalty points. With Warba's digital financing product, Express Finance, existing customers can obtain Al-Wafi financing up to 250,000 KD secured by collateral without having to make a single trip to a Warba branch. Hassala, a feature of the digital money box, encourages users to save.
Warba has provided its customers with a personalised in-app banking advisory service known as Al Mustashar that identifies and suggests the best digital solutions for users’ banking needs. These initiatives have helped them achieve the feat of ‘Best Islamic Digital Banking Services Kuwait 2024.’
Shankar Shivaprasad, CEO and Chief Editor of International Business Magazine, stated on the win, "In Kuwait's banking sector, Warba is leading the way in innovation and digital transformation. It is unique because of its unrelenting dedication to development and sustainability. Warba Bank has made impressive progress in a short period of time. Warba Bank's accessibility to all members of society can be attributed to several noteworthy elements, including its status as one of the largest local banks in terms of shareholders and its leadership in offering Islamic digital banking services to citizens. It is an honour for us to give them these titles.”
Shaheen Hamad Al Ghanem, CEO at Warba Bank, acknowledged the awards and said, “We are honoured to have won these prestigious accolades at the 2024 International Business Magazine Awards. At Warba, we firmly believe that protecting the environment is everyone's duty in order to safeguard the prospects of future generations. This prompts us to launch a number of projects aimed at improving the future. We think we are setting the stage for a digital future where our first priority is the financial prosperity of our clients. Warba provides technologically-advanced digital banking services and products, which are now top priorities for customers, and therefore, significantly enhances the Islamic banking industry. These honours serve as evidence that our team's diligence and hardwork were worthwhile.”
About Warba Bank:
Warba Bank was established on February 17, 2010 by virtue of an Amiri Decree aiming to boost the economic situation after the crisis witnessed by Kuwait. On April 7, 2010, Warba Bank joined the Islamic Banks Register at the Central Bank of Kuwait. The bank met the aspirations of Kuwaitis and earned their trust. It managed, in a short time, to position itself in the banking sector, As a leader in Islamic Digital Retail Solutions.
http://www.warbabank.com/
About International Business Magazine
International Business Magazine is a UAE-based online publishing company with a subscriber base of more than 50,000 that includes investors, C-suite employees, key stakeholders, policymakers, and government bureaucrats. We deliver the latest news from the financial world and keenly promote innovative solutions in the industry.
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