WarbaBank

Warba Bank is actively running an awareness campaign aimed at educating its customers about fraudulent messages associated with fake accounts that are received through phones and email. The bank strongly advises customers not to engage with such messages that claim to suspend their bank accounts or request updates to their banking details. This initiative aligns with Warba Bank's commitment to the "Diraya" banking awareness campaign, initiated by the Central Bank of Kuwait and the Kuwait Banking Association, to enhance financial literacy within the community and safeguard customer rights.

In this regard, Ayman Salem Al-Mutairi, Director Marketing & Corporate Communication, stated that Warba Bank contributes through multiple messages that carry different content related to the main elements of the campaign. The bank tailors these messages to cater to different customer segments, considering their varying levels of knowledge and interests, as well as aligning with their cultural and individual characteristics. Moreover, a series of messages is regularly communicated to employees as an essential component of the campaign's objectives. These messages aim to increase awareness, educate about potential risks, and emphasize the importance of adhering to safety and security guidelines while utilizing modern technology. Employees are specifically cautioned against sharing any account or personal transaction information with unfamiliar entities or responding to messages from unknown sources. Such actions would breach data confidentiality and compromise banking protection protocols.

Al-Mutairi urged caution in dealing with electronic links and not to store any confidential information such as ATM card numbers, credit card numbers, or personal identification numbers on mobile phones. It is also advised not to write the PIN on the card or share it with anyone. This also applies to the One-Time Password (OTP). Additionally, the bank recommends logging out of applications or websites immediately after completing a transaction to ensure security.

Al-Mutairi emphasized the importance of ignoring suspicious emails that may expose customers to fraud. Phishing emails are usually sent from suspicious websites, making it difficult for users to distinguish between genuine and suspicious emails. Therefore, Warba Bank advises several important rules for dealing with emails, including ensuring that the email is sent from an official institution without sharing any personal or banking information and avoiding opening any links or providing any confidential information to third parties since the bank does not ask for confidential information or OTP passwords.

In addition, Al-Mutairi emphasized the bank's dedication to emphasizing the significance of personal data, privacy, passwords, and discouraging their sharing to prevent fraudulent activities. He also underscored the importance of cybersecurity in tackling the challenges related to the exploitation of user data across different electronic platforms.

Warba Bank's messages highlight the clear and specific policies set by the Central Bank of Kuwait to guide financing operations in banks. These include providing customers with financing details, installment amounts, repayment schedules, installment-to-net salary ratios, consequences of non-payment, and allowing customers at least two days to thoroughly review the contract before signing it. The bank also provides a contract draft that includes details such as the type of financing, repayment period, installment amount, and returns after signing it. The available financing options for customers are divided into consumer financing and housing financing.

Moreover, the bank is obligated to offer financial guidance and disclose comprehensive information about the financing agreement, elucidating all aspects of the financing procedure, such as the return rate applied to the financed amount, the number of repayable installments, and the breakdown of each installment. The customer is granted a minimum of one business day to review the contract thoroughly, acquaint themselves with the terms and conditions, and fully comprehend their rights and responsibilities before giving consent to sign it.

It is worth mentioning that Warba Bank is one of the banks that has achieved significant success in a short period, occupying a leading position in the field of Islamic digital banking services for individuals. It is also one of the local banks with a large number of shareholders, making the bank accessible to all members of society. Additionally, in the year 2023, Warba Bank is recognized as one of the leading 50 banks in the Middle East in relation to market value, as stated by the Forbes Middle East ranking.