Warba Receives Accreditation for Internal Audit Quality

Worqa Bank announced that its Internal Audit Group received a “Generally Conforms” rating in the independent external assessment of internal audit quality, in accordance with the International Standards for the Professional Practice of Internal Auditing issued by the Institute of Internal Auditors (IIA). The assessment was conducted independently by Grant Thornton Consulting.

This rating is among the leading global indicators measuring the extent to which internal audit departments adhere to professional best practices. It is awarded only to entities that demonstrate comprehensive compliance with international standards, reflecting the efficiency of the internal audit system and the effectiveness of its role in supporting corporate governance, risk management, and internal control.

This achievement adds to Worqa Bank’s distinguished record of institutional accomplishments, underscoring the bank’s continuous commitment to applying the highest global standards across its operations. This reinforces its position as an emerging Islamic financial institution that places quality, transparency, and compliance at the core of its strategy.

This success is the result of strong support from the Board of Directors, the Audit Committee, and the executive management for the internal audit system, by providing an institutional environment that enables it to perform its role independently and professionally. This contributes to enhancing the efficiency of internal controls and consolidating governance principles.

The assessment demonstrates the level of institutional maturity achieved by Worqa Bank’s Internal Audit Department, reflecting the confidence it enjoys among global professional accreditation bodies and its ability to keep pace with continuous developments in the internal audit profession through the adoption of the latest methodologies and tools aligned with international standards.

In this context, Hanan Ghanem Hamada, Head of the Internal Audit Group at Worqa Bank, stated: “We are proud that the Internal Audit Group at Worqa has received the ‘Generally Conforms’ rating. This achievement is one of the pillars of the bank’s ongoing commitment to applying the best global standards and professional practices.”

She added: “This rating reflects the increased institutional maturity and high professionalism resulting from the continuous support received by the Internal Audit Department from the Board of Directors, the Audit Committee, and executive management, and their belief in the importance of the vital role the department plays in enhancing governance, transparency, and risk management, thereby delivering added value to the bank and strengthening the sustainability of its operations.”