WarbaBank

Value Proposition

• To diversify one’s investments and assets portfolio.
• To hedge against market volatility and inflation.
• The account can be opened free of charge, without the need to instantly purchase silver.
• A digitally convenient way to buy, sell, and store physical silver online.
• Free secured silver storage that is fully insured.

Terms & Conditions

• Available for all current Warba Bank customers 21 years old and above.
• Only available in KWD.
• Each customer will be eligible to open only one Silver Account 999 purity.
• All activities are based on “spot,” instant buying and selling transactions.
• Silver delivered to the customer cannot be deposited into the account.
• The maximum Silver that can be held in the account is 50 KG.
• Silver Accounts with zero balance will be automatically closed after 180 days of inactivity.

Silver Rates:

• Competitive spreads between the buy and sell rates.
• Live rates that are refreshed every 15 seconds.

About Dar Al Sabaek

• A market leader in buying, selling, and delivering bullions, precious metal coins, jewelry through secured and insured delivery services.
• First silver company in Kuwait that has fully digitized the buying and selling journeys of physical silver online.
• Officially classified in the Kuwait National Library and the protection of intellectual property rights as the first website specialized in the field of silver in Kuwait.
• External Auditor E&Y and insured by the Kuwait Insurance Company.

Types of Silver bars

• Silver bars provided are either Swiss or Emirati with 999 purity.
• All silver bars offered in official serial numbers, which are assigned and displayed upon completion of the purchase.
• All bars are certified and guaranteed by the Ministry of Commerce.
• Silver bars are available in weights starting from 5 grams.
• Partial sales of silver bars are not permitted.

Silver Trading:

• Pure silver can be traded from 1 gram.
• The offered pure silver has a purity of 999.
• Trade on pure silver without making charges.

Delivery of Silver

• The selected gold will be delivered via fully secured delivery services.
• Ability to exchange pure Silver with Silver Bars in Delivery action in the silver trading section.
• Making charges vary according to the type of silver bar selected, in addition to delivery charges.

Silver Account Fees

• Warba Bank takes an administrative fee of 0.020 KD per gram.
• A fee of 10 KD will be applied starting the second year.
• A charge of 6 KD applies for every delivery request as it is carried out by a 3rd party secured delivery service.

Digital Banking – Value Proposition

• Instant account opening online without the need to visit a branch.
• Silver buying, selling, and delivery are executed solely on Warba App.
• Silver bar details, history, and serial numbers are clearly shown in the application.
• Advanced statement and order history features.