WarbaBank

As part of its ongoing efforts to offer innovative banking services and products

Warba Bank has announced the launch of a new savings account feature for SiDi customers, in a move that marks a first-of-its-kind offering in the Kuwaiti banking sector for this segment. The new feature comes as part of the bank’s strategy to promote a culture of saving among customers with modest incomes who often have limited access to financial and banking services tailored to their specific needs, while enabling them to manage their savings through a simple, secure and Sharia-compliant digital solution.

Mr. Hamad Mohammad Ashkanani, Senior Director Business Excellence at Warba Bank, said that the introduction of the savings account for SiDi customers reflects the bank’s commitment to developing targeted banking products that directly address the needs of this segment, while also encouraging saving and financial planning in a practical manner that aligns with their day-to-day use of digital banking services.

He added that one of the account’s key features is the ease with which it can be opened and managed entirely digitally through the SiDi app, providing a seamless and integrated banking experience. He noted that the account is available exclusively to SiDi customers who already have an active account and is offered as an additional product linked to the customer’s existing SiDi account through the app.

Ashkanani explained that the account does not require a minimum savings balance, and that customers may also request an ATM card linked to the savings account if they wish, giving them greater flexibility in accessing and managing their savings. He stressed that this product was specifically designed to help SiDi customers build savings gradually and sustainably. The savings account also enables customers to benefit from returns calculated and announced in accordance with the Bank’s policies and the principles of Sharia, supporting the gradual growth of savings and contributing to the promotion of a savings culture over the medium and long term.

Concluding his remarks, Ashkanani affirmed that the launch of the SiDi savings account reflects Warba Bank’s commitment to offering innovative and targeted digital banking solutions that combine simplicity, flexibility, and compliance with the principles of Sharia. He highlighted that the new offering enhances the experience of SiDi customers and reinforces the bank’s position as a pioneering banking institution in developing products that serve this segment, while also contributing to greater financial literacy and stronger financial inclusion across all segments of society.

Warba Bank is among the banks that have achieved significant success in a short period of time, securing a leading position in Islamic digital banking services. It is also one of the local banks with the largest number of shareholders, which keeps it closely connected to all segments of society. This achievement once again underscores the bank’s position as a trusted banking partner that combines innovation with social responsibility in delivering the best financial services and products.