Warba Bank is a publicly listed Islamic bank headquartered in Kuwait City. Established by an Amiri Decree on 17 February 2010, the bank was created to contribute to the country’s economic recovery and diversification following the global financial crisis. Since its inception, Warba Bank has become one of Kuwait’s leading Islamic financial institutions, recognised for its focus on digital innovation and customer-centric services.
Vision, Mission and Values
Vision: To create unique value in banking and beyond by unlocking opportunities for people and businesses.
Mission: To deliver the best experience for customers beyond the boundaries of banking, preserving uniqueness, nurturing top talent, and creating sustainable value for shareholders and society.
Core Values: Trust, Innovation, Performance, Collaboration, and Ambition.
Historical Milestones
Warba Bank was officially registered with the Central Bank of Kuwait’s Islamic Banks Register in April 2010 and listed on Boursa Kuwait in 2013. Over the years, it has built a solid reputation for its Sharia-compliant financial solutions and its pioneering approach to digital transformation in Islamic banking.
Business Segments and Services
Warba Bank operates through five main business divisions: Retail, Corporate, Treasury, Investment and Other Services.
- Retail Banking: Offers current and savings accounts, credit cards, consumer financing, housing loans and vehicle finance, supported by advanced mobile and online banking platforms.
- Corporate Banking: Provides Sharia-compliant financing solutions such as Commodity Murabaha, Ijara, letters of credit and guarantees, and asset acquisition finance.
- Treasury: Manages funding operations and provides Islamic financing solutions in partnership with local and international financial institutions.
- Investment Banking: Engages in equity and real-estate investments, structured finance, and asset management services.
- Other Services: Encompasses operational and support functions that ensure seamless service delivery across all divisions.
Sharia Governance
A dedicated Sharia Supervisory Board oversees all banking activities to ensure full compliance with Islamic financial principles. This governance framework is integral to maintaining customer trust and regulatory confidence.
Leadership and Governance
Warba Bank is led by a Board of Directors and an executive team that blend deep financial expertise with a commitment to innovation. The Chairman of the Board is Mr Hamad M. Al-Sayer, and the Chief Executive Officer is Mr Shaheen H. Al-Ghanem. The bank’s leadership has prioritised digital expansion and customer experience as central pillars of its growth strategy.
Financial Position
Warba Bank has consistently demonstrated robust performance and sustainable growth. Its assets exceed KWD 5 billion, with steady growth in profitability and market share. It remains one of the fastest-growing Islamic banks in Kuwait, with a strong capital base and a reputation for prudent financial management.
Strategic Focus and Digital Innovation
Warba Bank is known as one of Kuwait’s most technologically advanced banks. Guided by its “Fintech First” approach, it has launched digital wallets, online onboarding systems, and electronic signatures. Its mobile banking application is among the most popular in Kuwait, offering comprehensive financial services for individuals and businesses alike.
The bank’s digital transformation strategy aims to enhance operational efficiency and improve the customer journey, aligning with global fintech trends while adhering to Islamic values.
Sustainability and Social Responsibility
Warba Bank integrates sustainability into its corporate ethos, supporting community development, financial literacy and environmental responsibility. The bank’s CSR initiatives focus on empowering individuals, promoting entrepreneurship, and supporting national economic growth in line with Kuwait Vision 2035.
Market Position
Warba Bank occupies a leading position in Kuwait’s Islamic banking sector. Its strength lies in the combination of Sharia-compliant financial expertise, modern digital services, and an unwavering commitment to customer satisfaction. By blending tradition with innovation, Warba Bank continues to shape the future of Islamic banking in Kuwait and beyond.