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Warba Bank announced obtaining the Elite Award for Quality Recognition in Sustainable Direct Payment Practices from JP Morgan for the fourth year in a row, and it is the first bank in Kuwait to receive three awards for two consecutive years. J.P. Morgan is considered one of the largest banks in the world in terms of market value, and it operates in more than 100 countries around the world. This award comes as 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 financial transfers, which reflects the Bank's commitment to high standards of quality. Warba Bank achieved this level as a result of achieving a direct payment processing rate for the (MT202) category of 99.79% and a direct payment processing rate for the (MT103) category of 99.61% in the US dollar currency, and a Quality Appreciation Award for achieving the direct payment processing rate for the (MT103) category of 97.13% in the euro currency. For the second year in a row. Warba Bank has become one of a small group of banks in the Middle East and North Africa to win the prestigious award for customer transfers and bank transfers between banks. The award recipients are selected by J.P. Morgan Bank based on the accuracy of details in bank transfers in terms of reducing human intervention and increasing the speed of settlements and the Bank’s implementation of a certain number of procedures and operations for two types of banking operations to be considered for this award. We would also like to point out that J.P. Morgan Bank It is one of the world's leading banks and the largest bank in the United States of America.
On this occasion, Layali Al-Fahad, Chief Operations Officer at Warba Bank, said, “The JP Morgan awards are the greatest evidence of Warba Bank’s commitment to providing the highest quality standards in financial services to its customers, and we are proud of achieving the best ratios in direct operations (STP) for money transfer. What we have achieved is evidence of the hard work and dedication exerted by our operations team to achieve the best results and provide solutions to meet clients’ financial needs, explaining that this came thanks to the great focus on distinguished quality in direct processing and the adoption of integrated payment processes.
She stressed 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 the use of paper, simplifying operations and enhancing transparency, in line with the United Nations Sustainable Development Goals and the Kuwaiti National Development Plan 2035.
Warba Bank is one of the banks that has achieved great successes in 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 prominent components that make the Bank close to all members of society.
