Warba Bank wins ‘WIBC Performance Award 2018’
KUWAIT: As we approach the end of a successful year marked by major achievements added to the bank’s record, Warba Bank has won a prestigious award from the World Islamic Banking Conference, held last November in the Kingdom of Bahrain. Warba Bank has won the WIBC Performance Award 2018 for its outstanding performance and rapid growth in all operations, particularly in terms of assets reporting growth rate of 18 percent reaching KD 1.972 billion till 30 September 2018.
Commenting on the award, Shaheen Hamad Alghanem, Chief Executive Officer of Warba Bank, said: “This is a new merit award that doubles our responsibility to strive and save no efforts for excellence and innovation in our banking services and solutions,
which are today a benchmark in the Islamic banking industry proven to be at the highest international standards in the Islamic banking sector. “We are building upon the success of Warba Bank for realizing more achievements in the coming year, by increasing the Bank’s investment and financing capabilities following the 50 percent share capital increase, highly subscribed by shareholders. Thanks Allah, this is in fact a key indicator of the deep trust that Warba Bank enjoys amid customers, the domestic and international finance and investment sectors. We will therefore exert all efforts for diversification of our banking services enabled by the state - of - the art digital technologies, so that Warba remains the bank of choice for banking business whether in retail, corporate, and investment and finance sectors.
It’s noteworthy that Warba Bank was selected out of five participating financial institutions in the region and was awarded based on the vote of the Conference Committee; the Committee voted according to specific metrics for this category of awards, that compromise: Participants’ financial stability, financial performance, corporate governance and corporate social responsibility.
The World Islamic Banking Conference, organized by Middle East Consulting International (MEGA), is one of the largest and most prestigious gathering of Islamic banking and finance leaders in the world. Over the past 25 years, it has been steadily able to enhance its reputation and serve as an observer that tracks and evaluates the global Islamic banking and banking industry given the conference members, who are renown in vital business sectors, of leading bankers, shareholders, decision-makers, academics and other stakeholders from around the world. WIBC has contributed towards the creation of a robust system to expand Islamic finance in order to keep abreast of new developments while preserving its core values.
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