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: Warba Bank announced obtaining the Elite Award for Quality Recognition in Sustainable Direct Payment Practices from J.P. Morgan for the third year in a row. J.P. Morgan is considered one of the largest banks in the world in terms of market capitalization, and it operates in more than 100 countries around the world.
This award is a result of Warba Bank's success in maintaining the distinguished level of services and operations it provided throughout the year in the field of money transfers, which reflects the Bank's commitment to high standards of quality. Warba Bank reached this level as a result of achieving the single direct payment processing rate of 99.62%, the commercial payment processing rate of 99.99% in the US dollar, and the Quality Appreciation Award for achieving the single direct payment processing rate of 92.11% in the Euro currency for the second year in a row.
Warba Bank became one of the few banks in the Middle East and North Africa region that won the prestigious award for client transfers and transfers between banks.
On this occasion, Layali Al-Fahad, Chief Operations Officer at Warba Bank, said, "The JP Morgan award is the greatest evidence of Warba Bank's commitment to providing the highest quality standards in financial services to its clients, and we are proud of achieving the best ratios in direct operations (STP) for money transfers. What we have achieved proves the hard work and dedication of our operations team to achieve the best results and provide solutions to meet customers' financial needs, explaining that this came due to the great focus on outstanding quality in direct processing and the adoption of integrated payment processes.She emphasized Warba Bank's firm commitment to the principles of environmental, social and corporate governance (ESG) practices, as the Bank's sustainable initiatives contribute to reducing paper use, simplifying operations and enhancing transparency, in line with the United Nations goals for sustainable development and the Kuwait National Development Plan 2035.
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 retail Islamic digital banking services, and it is one of the largest local banks in the number of its shareholders, and these are among the most important elements that make the Bank close to all members of society. In addition, Warba Bank is among the 50 largest banks in the Middle East in terms of market value for the year 2023 - Forbes Middle East classification.
