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As part of its ongoing investments to offer digital and innovative financial solutions that enhance the customer experience, Warba Bank announced the launch of the unified Gulf payments service, “Afaq,” now available through on its mobile app. The service aims to enable customers to easily transfer funds in record time to Gulf Cooperation Council (GCC) countries participating in the system, using local currencies at competitive exchange rates and lower costs compared to conventional transfer methods.
“Afaq” allows customers to complete financial transfers in Kuwaiti dinar to bank accounts in Gulf countries, converting the currency to each country’s local currency. Transactions are completed in a very short time and securely thanks to a stable and fully secured network. This step underscores Warba Bank’s commitment to providing innovative digital banking services that meet customers’ needs for fast, on-demand service in today’s digital environment.
Explaining the service, Layali Mostafa Al Fahad, Chief Operations Officer at Warba Bank, said: “The launch of ‘Afaq’ reflects Warba Bank’s commitment to keeping pace with technological developments in the banking sector and fulfilling our customers’ needs in ways that suit their aspirations. Our vision, embodied in our slogan ‘Let’s Own Tomorrow,’ consistently drives us to provide innovative services that elevate the customer experience and strengthen their ability to reach financial goals with ease and security.”
She added: “The Afaq service is not merely a tool for money transfers; it is part of Warba Bank’s strategy to deliver efficient, flexible banking services that adhere to the highest international standards. By meeting evolving customer needs, offering low and competitive exchange rates and transfer costs, we boost customer confidence in Warba Bank and reinforce our leading position in banking innovation in line with the principles of Islamic Sharia.”
Al Fahad pointed out that Warba Bank has made digital transformation and innovation, with digital products available to customers anytime and anywhere, the centerpiece of its strategy to enhance customer experience. This approach has enabled the bank, despite its recent inception, to consolidate its status as a leading financial institution that combines tradition with modern technology.
The unified Gulf payments service “Afaq” aligns with the bank’s strategy aimed at strengthening its position as a leading Islamic financial institution, blending adherence to Sharia principles with technological innovation. Through the Warba Bank mobile app and website, customers can benefit from this service that merges efficiency, speed, and low costs, making it an ideal solution for money transfers to GCC countries.
Warba Bank continues to assert its position as a forward-looking financial institution by adopting the latest digital technologies and providing innovative services that address the changing needs of its customers. The new “Afaq” service demonstrates the bank’s commitment to delivering a transparent and secure banking experience, strengthening its leading role in the market, and supporting its vision to achieve sustainable growth in step with modern demands and customers’ aspirations for tomorrow. The “Afaq” service also aligns with the Central Bank of Kuwait’s vision to enhance the payment infrastructure across GCC countries.
