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In a pioneering step that reflects its commitment to innovation in digital Islamic banking services, Warba Bank announces the launch of the raw gold trading service, which is an unprecedented step in the Kuwaiti market that aims to enable customers to benefit from gold price fluctuations in an innovative and safe way. This new service, which comes in cooperation with Dar Al-Sabaek, allows customers to buy and sell raw 24-karat gold with a purity of 999.9 without charging them any additional fees for the manufacturing price, which provides a unique investment opportunity. The customer can also buy small weights on an ongoing basis. It is then converted into Swiss or Emirati bullion, coated according to the customer’s choice, with the possibility of delivering it to his home.
In this regard, Mr. Ahmed Faisal Al-Qatami - Chief Retail Banking Officer at Warba Bank, said: “This step represents the Bank’s vision of providing innovative financial solutions that exceed expectations.” Pointing out that “the raw gold trading service is the result of our continuous efforts since the launch of the gold account in 2022 to enrich clients’ experience and provide various investment options that meet their financial needs and aspirations.”
Al-Qatami added that the Bank seeks to strengthen its role as a pioneer in adopting innovative digital solutions that support the culture of saving and investment among its customers, stressing the Bank’s commitment to providing banking services that preserve and promote Islamic values.
Al-Qatami continued saying that Warba Bank, with its vision to create unique value in banking services and beyond, emphasizes its mission to provide the best customer experience outside the boundaries of traditional banking services, with a focus on creating sustainable value for shareholders and society through the launch of the raw gold trading service. The Bank strengthens its position as a financial institution that provides innovative and advanced solutions that are compatible with the requirements and aspirations of its clients.
Al-Qatami confirmed that the account can be opened immediately via the application, and added that the raw gold trading service comes with several main advantages, including updating the price of gold every 15 seconds to ensure transparency and accuracy in trading, displaying a detailed statement of buying and selling operations, and displaying and downloading an invoice after completion of every transaction, ensuring the highest security standards for buying and selling transactions starting from 1 gram, which are implemented immediately. He added that this service not only reflects Warba Bank's commitment to providing innovative and safe financial solutions, but it also provides clients with an opportunity to invest in gold in an easy and convenient way, which contributes to diversifying their investment portfolios.
Al-Qatami concluded his statement by saying: “We invite our valued clients to explore this unique investment opportunity provided by the raw gold trading service, which represents an important step towards achieving safe investments in the gold market, and we believe that this new service will meet our clients’ expectations and contribute to achieving their investment goals.”
For his part, Mr. Fahad Ghdayer Al-Ajmi, Vice Chairman of Dar Al-Sabaek Company, expressed the importance of this partnership with Warba Bank, pointing out that “cooperating with a very important bank like Warba strengthens our position as a major provider of raw gold solutions and confirms the quality and security of the services we provide.” ,Al-Ajmi added, "This partnership reflects our commitment to providing the best solutions to our customers, and we are proud to be part of this initiative that allows customers to exploit distinct investment opportunities in the gold market.".
Warba Bank is one of the banks that achieved great successes during 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 important elements that make the Bank close to all members of society, Warba Bank is one of the banks that achieved great successes during 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 important elements that make the Bank close to all members of society,
