WarbaBank

• Nasser Al-Mutawa emphasizes digital transformation investments, while Abdullah Fakhro highlights new Sharia-compliant Zakat calculators

Warba Bank announced the launch of a comprehensive update for its mobile banking application. The update introduces features designed to improve customer experience, upgrade digital infrastructure, and provide seamless Sharia-compliant banking solutions that support everyday banking needs.

Automated Zakat Calculators:

A key feature of the new update is the introduction of the automated Cash Zakat Calculator. This digital tool automatically calculates Zakat obligations on eligible balances within the bank. It also allows customers to manually add external cash balances or additional amounts for a comprehensive calculation.

The calculator automatically verifies whether the balance has reached the Nisab (minimum wealth threshold). Furthermore, aligned with the directives of the Warba Bank Sharia Board, the tool includes an option to deduct outstanding annual debt installments from the Zakat base by entering the value and remaining duration of the installments.

The update also introduces Zakat calculators for:

• Warba Bank Shares Zakat: Calculates Zakat on held bank shares in accordance with approved Sharia rules.


• Warba Bank Sukuk Zakat: Determines Zakat due on Sukuk based on their structure and investment nature.


• Investment Funds Zakat: Assesses Zakat on mutual fund investments according to the underlying asset criteria of each fund.


• Gold Zakat: Evaluates Zakat on owned gold after verifying weight and Nisab requirements.

Notification Preferences and Controls:

The update introduces an upgraded interface for notification management, giving users greater flexibility in choosing how they receive banking alerts and One-Time Passwords (OTPs)—either via SMS or push notifications within the application. It also allows customers to customize content preferences, separating operational banking alerts from marketing offers and digital services notifications.

Executive Commentary:

Nasser Maher Al-Mutawa, Chief Digital Officer at Warba Bank, stated: “Digital innovation is essential to meeting the lifestyle needs of our customers. We continue to invest in expanding our digital services to ensure they are smarter and more aligned with customer needs, while maintaining the highest security standards. The deployment of features like the Cash Zakat Calculator and customizable notification controls delivers meaningful value that reflects our corporate vision.”

Abdullah Abdulrahim Fakhro, Executive Manager of the Sharia Department at Warba Bank, added: “Warba Bank is keen on utilizing financial technology to simplify religious obligations. Providing specialized calculators for shares, Sukuk, mutual funds, and gold combines Sharia precision with digital accessibility, enabling customers to complete their calculations with confidence.”

About Warba Bank:

Warba Bank is a leading Islamic bank in Kuwait with a strong focus on Sharia-compliant digital banking. With one of the largest shareholder bases in the country, the bank continues to deliver innovative financial products and services, reinforcing its position as a digital-focused institution.