In accordance to the increasing number of its clients’ base and its desire to develop its banking services and solutions to achieve further benefits for the customers; Warba Bank – is relaunching both of its Sunbula Account and Deposit.
As per Mr. Musaed Mazeid al Mazeid - Head of Individual Retail Sales & Distribution at Warba Bank -, the new adjustments made to Sunbula Account are the frequency of the draws and the value of both; cash and in-kind prizes. Commenting on that, Mr. Al Mazeid said: “The draws will be held on weekly and quarterly basis; where 5 lucky winners of 1000 KWD each will be announced via an electronic draw held every Thursday morning. The grand winner of the mega quarter draws will receive 100K KWD while the remaining 4 will each win a Land Cruiser VXR. To give our customers more chances to win, we added 2 more cars to the last mega quarter draw of 2019 which is scheduled to be in the first working Thursday after the quarter ends”.
Ensuring the credibility and transparency of the electronic draws, they will be held in presence of the Ministry of Commerce and Industry’s representative, in addition to Safi Al Mutawa & Co. (KPMG), which was commissioned by Warba Bank to monitor and audit the mega draws, where afterwards, Warba will provide the Ministry with a letter from the external auditor stating that the draws procedures were correct and sound.
Regarding Sunbula Deposit, Warba Bank increased the expected cash return rate to reach 3.5% when depositing 100K KWD or more – the highest rate in the Kuwaiti banking sector. Based on customers desire, the returns will either be distributed on monthly basis or at the end of the deposit time
Al Sunbula deposit entitles its holders to enter the weekly and quarterly draws, where they would be eligible for every 1000 KWD in the account to win more prizes. In addition, Sunbula Deposit is a Sharia-compliant, which is structured on an investment basis, is characterized by flexible monthly investment periods, which vary in periods from one month to a maximum of 60 months.
Upon opening Sunbula Deposit, account holders will receive several advantages and facilities including: free issuance and renewal of World Mastercard; requesting Al-Wafi financing; obtaining the benefits of Al Safwa category for deposit holders of KD 30,000 which includes personal relationship manager; Warba Yemnak service; valet service. An extra facility Warba Bank has made to its clients enabling them to open Sunbula Deposit Account via Warba App without the need of visiting any of its branches; this has also enabled the bank to further enlarge its customers base; lifting up its market share and contribute to the development of the Islamic banking sector through the introduction and twisting Its services.
Al-Sunbula Account also a Sharia Compliant product, considered as the perfect choice for all customers who wish to save money and achieve steady returns while simultaneously can win cash prizes throughout the year. The funds are used to achieve cash returns to the clients that would be directly transferred into the customer’s account on quarterly basis. For every 10 KWD in the account, the customer gets one chance to win in one of the bank’s weekly or quarterly draws - provided that the cash has been deposited for a whole month ahead of the draw date, which means that the more your deposit in your account, the more chances you have to win.
Any with the age of 21 years old and above is eligible to open Sunbula Account without the need of transferring your salary to Warba Bank; current customers can finalize the preceedure through the bank’s online service – Warba Online- while new ones would need visit the closest branch to them along their original civil ID or through Customer Onboarding service or via the following link: https://wdp.warbabank.com/ar/home/.
Same as other accounts, Sunbula holders also can benefit from special services as ATM and credit cards.
Warba Bank has intensified its efforts, making huge investments to well-establish its digital services infrastructure at international levels in aims of guaranteeing customers’ satisfaction and meeting their expectations when it comes to reducing the time and effort customers spend on their banking transactions as they can be now easily finalized via Warba’s interactive Branch; Warba’s website and Warba’s Smartphones APP – which have proven to be a very popular mean customers lean on to speed up their transactions by a quick and enjoyable mean away from the monotony of paper work.
Further information can be obtained about Sunbula Account and Deposit on the following website: www.warbabank.com .
