Kuwait - Today, Warba Bank announced the re-launching Qard Hasan ("Free Profit loan") in Kuwait after increasing its amount to KD 5000 with flexible repayment period up to 18 months to all Kuwaiti Nationals as per the credit terms and conditions for individuals.
Two years ago, Warba was the first bank in Kuwait to launch Qard Hasan initiative, not bearing any profits in line with the rules of Islamic Sharia. This initiative aims at supporting national customers working in the government sector, any of its asscoated institutions or the private sector. For Warba's strong belief of its role in supporting the community and helping Kuwaiti citizens in meeting increasing demands of living, the Bank is reintroducing Qard Hasan after enhancement and raising its amount in a way that provides optimal benefit without any extra burden on citizens as the loan is not bearing any profits or administrative charges.
Qard Hasan is offered by Warba Bank to Kuwaiti nationals of 21 years old in accordance with credit terms and conditions and the current retail financing policy. New segments have been added to avail from Qard Hasan: Warba's Kuwaiti customers whether in service or retirement or customers of other banks can obtain Qard Hasan as per the terms and conditions of that product with a ceiling of up to KD 5000 repaid on 18 months maximum. Qard Hasan amount will be directly deposited into the customer's account. The customer will have the choice of either opening a Warba Bank salary account or investment saving account at no charges thus enabling the customer to benefit from all the additional services and advantages offered by Warba Bank to such account holders.
In addition to Qard Hasan, Warba Bank also provides personal financial services that help fulfill customers' financing needs in a smooth and Shariah-compliant manner. This way, customers can fulfill all their various needs.
Warba Bank continues to make difference for its customers by providing them with a wide range of services including immediate issuance of ATM card, free SMS service as well as other special benefits for Safwa and Lamar accounts holders enabling them to get into VIP lounges in key regional and international airports. Customers can also get "My Box" service which provides them with a local P.O Box address in the USA, UK and UAE when applying to get one of Warba Bank's credit and prepaid cards.
Warba Bank provides many discounts and exclusive offers to the customers through a discounted coupon booklet which customers can enjoy inside and outside Kuwait.
For more information about Qardh Hassan and other services, Customers can contact the Customer Service Center on 1825555, or visit one of the Bank branches.
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About Warba Bank
Warba Bank, an Islamic Bank established by virtue of an Amiri Decree, was officially registered in the Central Bank of Kuwait's register of Islamic Banks on April 5th, 2010. The State of Kuwait, represented by Kuwait Investment Authority (KIA), owns 24% of the bank's total shares, while the remaining 76% of shares, fully subscribed by the government, has been equally allocated to all Kuwaiti nationals. Warba Bank offers a wide range of customized Sharia compliant services and solutions which are available through the Bank's three Business Groups : Retail Banking Group, Corporate Banking Group, and Investment and Treasury Group. Branching out in 7 strategic locations, Warba Bank has over 250 employees.
For media information, please contact:
Nadin Al Alami
ASDA'A Burson Marstellar
Tel: 00965 22901571
Email: nadin.alami@bm.com
© Press Release 2015
