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Warba Bank’s latest Sustainability Report has officially received confirmation from the Global Reporting Initiative (GRI). Issued in English, the report was prepared in accordance with international standards outlined by MSCI, S&P Global and the IFRS S1 and IFRS S2 frameworks, reflecting the bank’s strong commitment to global best practices in sustainability reporting and transparency.
The report highlighted several key achievements, including the issuance of Kuwait’s first sustainability Sukuk valued at USD 500 million and listed on both the London Stock Exchange and Nasdaq Dubai. This historic issuance received strong interest from global investors, with a subscription rate over 3.5 times the offering, reaffirming the bank’s dedication to financing projects that deliver environmental and social impact.
Warba Bank’s Chief Executive Officer, Mr. Shaheen Hamad Al-Ghanem, confirmed the bank’s dedication to sustainability principles and its alignment with globally recognized goals that benefit all stakeholders, stating: “Warba Bank continues to affirm its position as a leading and trusted Islamic financial institution built on the principles of ethical banking, sustainability and digital transformation. Amid evolving trends in the financial sector, we strive to maintain a balance between strong financial performance and the adoption of responsible banking practices. This year, we enhanced our governance practices and further integrated ESG standards into our operations, while prioritizing innovation and staying true to our Sharia-compliant values.”
He continued: “The year 2024 was marked by advancement, resilience and sustainable growth. The bank accelerated its digital transformation journey and focused on redefining the future of Islamic finance in Kuwait without compromising on delivering a seamless banking experience that meets the evolving needs of all customer segments.”
The bank launched an integrated digital HR platform and adopted parental leave policies and special incentives for volunteering employees, promoting work-life balance and reinforcing community impact.
Al-Ghanem stated: “At Warba Bank, we believe that real investment lies in our people. That’s why we are committed to empowering our employees through training and professional development programs that align with the latest advancements across all sectors of our industry. Our dedication to developing human capital is reflected in our policies and practices, which aim to foster a supportive and inclusive work environment where every employee can thrive and contribute to our sustainable growth.”
Last year, Warba Bank implemented several key environmental, social and governance (ESG) policies under an integrated framework that includes the bank-wide ESG policy, an environmental policy, a climate change and carbon reduction policy, a human rights statement, a corporate diversity and inclusion policy and an employee engagement and well-being policy.
These policies reflect the bank’s holistic approach to sustainability and its commitment to addressing environmental and social challenges. Warba Bank’s recognition as the “Most Sustainable Bank in Kuwait for 2024” further solidifies its leadership in sustainable banking practices across the region.
Warba views sustainability reports as essential tools for enhancing transparency and building trust with investors and the wider community. By publishing comprehensive reports, the bank aims to identify areas for improvement, drive more sustainable and effective actions and respond to growing customer demand for responsible products and services.
The 2024 Sustainability Report is available on Warba Bank’s official website, offering stakeholders detailed insights into the bank’s ESG performance and future outlook.
Under its slogan “Let’s Own Tomorrow,” Warba Bank continues to set new benchmarks for the future of Islamic banking redefining customer experience while fostering a comprehensive and sustainable financial system. With one of the largest local shareholder bases and being among the fastest-growing Islamic banks in Kuwait, Warba remains committed to excellence, sustainability and innovation, positioning itself as a trusted partner for individuals and businesses alike.
Warba Bank has achieved remarkable success in a short period, securing a leading position in the field of Islamic digital banking and becoming one of the local banks with the highest number of shareholders, reinforcing its closeness to all segments of society. This milestone reaffirms the bank’s status as a trusted financial partner that blends innovation with social responsibility in delivering the best financial products and services.
