Warba launches the first local digital silver account
Nasser Al-Mutawa:
- The gold account served as the primary driver for expanding investment in precious metals.
- The account is designed to provide customers with a seamless digital experience without any complex procedures.
- Investment is accessible to a wide range of customers, and trading can begin with as little as one gram.
Nasser Maher Al-Mutawa, Head of the Digital Group at Warba Bank, confirmed that the launch of Kuwait’s first digital silver banking account is an extension of the bank’s strategy to develop innovative digital banking solutions that meet customer aspirations and keep pace with the rapid transformations in the financial sector. He noted that the significant success achieved by the gold account since its launch served as the main driver for expanding the precious metals investment experience by adding a silver account to the bank’s digital services ecosystem.
Al-Mutawa stated that Warba continues to invest in developing its digital services, guided by a clear vision that places the customer at the heart of the innovation process. This is achieved by offering solutions that combine ease, speed, transparency, and compliance with Islamic Sharia principles, thereby enhancing a comprehensive banking experience that aligns with modern requirements.
Al-Mutawa explained that the silver account is designed to provide customers with a seamless digital experience without complex procedures. Customers can open the account directly through the Warba app within minutes, without the need to visit any branch or submit documents, enabling them to buy and sell silver immediately from within the application.
He added that this experience reflects the bank’s move to remove traditional barriers to banking services, empowering customers to manage their investments easily and at any time through a secure and smooth digital platform that leverages the latest banking technologies.
Al-Mutawa pointed out that a key feature of the account is the adoption of global prices, which provides customers with full transparency in buying and selling operations, allowing them to make investment decisions based on global market prices.
He further stated that this mechanism reflects the bank’s commitment to providing a fair and reliable investment experience, built on clarity and accuracy in price presentation, thereby enhancing customer confidence and offering greater flexibility in managing their investments.
Al-Mutawa highlighted that the bank has ensured that silver investment is accessible to a wide range of customers, as trading can begin with just one gram. Customers can easily buy and sell silver bars or trade raw silver through the app.
He added that this flexibility opens the door for various customer segments to benefit from precious metals investment according to their needs and financial capabilities, without requiring large initial amounts to enter this type of investment.
Al-Mutawa emphasized that the collaboration with Dar Al-Suqour (The Bullion House) is one of the key elements of the success of this service, given its expertise and reputation for providing precious metals according to the highest quality standards. He noted that customers can also request delivery of the bullion to any address within the State of Kuwait with ease after completing the purchase.
Al-Mutawa stressed that the launch of the silver account is not merely a new product; it is part of a long-term strategic plan aimed at strengthening Warba’s position as the leading Islamic digital bank in Kuwait. This is achieved by developing innovative banking solutions that keep pace with global market developments and meet the growing aspirations of customers.
He added that the bank will continue to invest in modern technologies and develop its digital products, enhancing the customer experience and cementing a culture of innovation in the banking sector, while maintaining the highest quality standards and full compliance with Islamic Sharia principles. He confirmed that all services are subject to the approval of the Bank’s Fatwa and Sharia Supervisory Board.
