Warba Bank

What Warba Bank does

Warba Bank K.P.S.C. is a Kuwait-based, publicly listed Islamic bank (KSE: WARBABANK) founded in 2010, headquartered in Kuwait City, and operating across eight customer segments from Kids and Wave (youth) to Primary, Priority, Royal, and Private Banking, alongside Corporate and Business Banking units. The bank distributes its services through 45+ branches covering every Kuwait governorate, a nationwide ATM network, a corporate online banking platform with MT940 integration, and a mobile app with digital wallet support across Apple Pay, Google Wallet, Samsung Pay, Garmin Pay, and Fitbit Pay.

Its core product set spans Sharia-compliant current, salary, savings, super savings, family, gold, silver, Sunbula, and Sunbula Kids accounts; Wakala and Mudarabah-based fixed and flexible deposits (KD, USD, EUR, GBP); consumer, auto, housing, and Al Wafi collateralized financing; a full credit card stack led by Mastercard World Elite and Visa Infinite; corporate products including Real Estate Ijara, Commodity Murabaha, Forward Murabaha, and Letters of Credit; and investment banking capabilities in structured products, syndication finance, and debt capital markets. The technology layer is centered on a mobile-first architecture featuring Bdr AI (an Agentic AI voice assistant supporting Kuwaiti and English), Warba Invoice Gate for supplier invoice automation, an enhanced Marketplace, a Pocket digital loyalty program, Hassala goal-based savings, a Dashboard spending tracker, and biometric authentication.

Warba generates revenue through transaction fees on financing, cards, precious metals (gold and silver via partnership with Dar Al Sabaek Group), and corporate services, plus Mudarabah/Wakala investment returns on deposits and fee income on its asset management and investment banking franchises. Pricing is tiered by segment, with Sharia-compliant profit rates up to 3.5% on fixed deposits and APRs of 6.5–7.5% across consumer, Al Wafi, and housing finance products. The bank went to scale via a fully subscribed US$1.42 billion rights issue in April 2025 and is recognized as a Top 20 Global Sukuk Bookrunner and Kuwait's biggest banking gainer in 2025 with 66.7% total returns.

Name

Warba Bank

Legal name

Warba Bank K.P.S.C.

Website

https://warbabank.com

Company type

Public

Founded year

2010

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Warba Bank is a Kuwait-based, publicly listed Islamic bank offering Sharia-compliant personal, corporate, and investment banking products through 45+ branches and a mobile-first digital platform, including Bdr AI voice banking and digitized precious metals trading.

Ownership category

akta.pro rank

Product category

Islamic Retail and Corporate Banking

NAICS

Depository Credit Intermediation (5221), Commercial Banking (522110), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), Finance and Insurance (52)

SIC

Finance Services (6199)

akta.pro primary industry

Shariah-compliant Financing Products (Murabaha, Ijara, Tawarruq, Istisna, Salam) (FSABAGAH)

akta.pro secondary industries

Islamic Deposit & Account Products (Current/Savings/Investment Accounts) (FSABAGAI), Islamic Corporate Banking (FSABAGAC), Islamic Investment Banking & Capital Markets Services (FSABAGAG), Islamic Private Banking & Wealth (FSABAGAD), Islamic Treasury, Liquidity & Interbank (Commodity Murabaha, Sukuk Liquidity) (FSABAGAK), Sukuk Origination & Structuring (Bank-led) (FSABAGAL)

Keywords

• Islamic banking services
• Sharia-compliant finance
• Consumer financing products
• Corporate banking solutions
• Digital banking platform

Headquarters

HQ city

Kuwait

HQ country

Kuwait

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others

Revenue model

1. Financing Income: Profit earned from Islamic financing products including auto finance, consumer finance, housing finance, and Al Wafi financing against collateral
2. Gold and Silver Trading: Administrative fees on gold and silver bar transactions, plus storage fees and delivery charges for physical precious metals
3. Savings and Investment Returns: Returns distributed to customers on Mudarabah and Wakala investment principles; bank earns spread from investment activities
4. Credit Card Services: Fees from credit card transactions, annual fees on premium cards, cashback programs funded by merchant fees
5. Corporate Banking Services: Fees from letters of credit, guarantees, commodity murabaha financing, and corporate online banking services
6. Fixed Deposit Investment Products: Returns generated from Wakala investment deposits; bank manages funds for profit distribution

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels6 records

Core offering

Warba Bank is a Kuwait-based Islamic bank offering Sharia-compliant personal, corporate, and investment banking products including deposit accounts, consumer and housing financing, Wakala-based fixed deposits, credit and prepaid cards, precious metals trading (gold and silver), corporate Murabaha/Ijara financing, letters of credit, asset management, and investment banking services. Customers access services through 45+ branches, a mobile banking app with Bdr AI voice assistant, corporate online banking platforms, and digital wallets.

Product overview

Warba Bank is an Islamic bank in Kuwait offering a comprehensive digital banking platform across multiple segments. The core banking platform includes personal accounts (Current, Salary, Investment Savings, Super Savings, Family, Gold, Silver, Sunbula, Sunbula Kids), consumer financing products (Auto, Consumer, Housing, Al Wafi, Transfer the Debt, Health Education), fixed deposits (KD Wakala, Foreign Currency, Flexible, Fixed), and credit/prepaid cards (Mastercard World Elite Dual Chip, Mastercard World Elite, VISA Signature, Mastercard World, Mastercard Platinum, VISA Platinum, Visa Infinite, Visa Infinite Privilege, Game Edition, VISA Prepaid). The digital ecosystem centers on the Warba Bank Mobile App with Dashboard spending analytics, Pocket loyalty points, Marketplace, Hassala savings goals, and Bdr AI voice assistant. Corporate banking offers Real Estate Ijara, Commodity Murabaha, Forward Murabaha, Letters of Credit, Corporate Online Banking, Treasury, and Business Banking Marketplace. Investment Banking provides Structured Products, Syndication Finance, Financial Institutions, and Debt Capital Markets services. Asset Management includes Investment Funds and Portfolio Management. The bank recently launched Bdr AI as an Agentic AI banking assistant, Digital Silver Account, and Warba Invoice Gate for invoice automation. Key innovations include the Rowad Innovation Program, Wave Banking youth segment with 3% cashback, and Sharia-compliant Certificates of Deposit Programme totaling US$1 billion.

Differentiator

Problem solved

Functional benefit

Brands

• Beyond: Startup banking program by Warba Bank that won MEED 'Best for Start-Ups' award
• Rowad
• Bdr AI

Products and services

• Current Account Sharia-compliant current account for daily banking transactions including digital services, financing solutions, and bank cards, available for individuals, corporations, firms, and charity associations in Kuwaiti Dinars or major foreign currencies.
• Salary Account Banking package designed for employees in private and public sectors offering tailored benefits based on salary segments, competitive finance rates, and first-year free credit card.
• Investment Savings Account Sharia-compliant savings account based on Mudarabah principle where the bank invests funds using management expertise to achieve returns calculated on the account's lowest monthly balance, with quarterly return disbursement.
• Super Savings Savings account based on Wakala investment principle offering expected returns up to 1.750%, among the most competitive rates in Kuwait, with monthly distributions and digital account opening.
• Family Account Innovative service allowing parents to manage their children's accounts directly from their own account, enabling viewing of transaction history, deposit balances, and transfers to/from minor's accounts through mobile.
• Gold Account Investment account allowing customers to buy and sell 24-karat physical gold (999.9 purity) from Swiss (PAMP, Valcambi) and Emirati (Etihad) manufacturers, with free secured storage and delivery through partnership with Dar Al Sabaek Group.
• Silver Account Investment account enabling customers to buy and sell physical silver (999 purity) from Swiss and Emirati manufacturers with digital trading through Warba Bank app, free secured storage, and delivery options.
• Sunbula Account Sharia-compliant investment savings account based on Wakala principle with monthly and mega draw prizes exceeding KD 1.5 million annually, offering over 1,000 winners per year with chances calculated on KD 10 balances.
• Sunbula Kids Sharia-compliant savings account for children from birth to 14 years with monthly cash prizes and family travel packages to Dubai Parks or YAS Island, featuring quarterly profit disbursement and instant debit card issuance.
• Private Banking Premium banking segment offering sophisticated Sharia-compliant services with personalized investment solutions, priority services, dedicated Relationship Manager, and benefits including up to KD 250,000 personal financing and complimentary safety deposit box.
• Royal Banking Exclusive segment for upper affluent customers with monthly salary of KD 2,500+ or account balance of KD 100,000-400,000, offering preferential banking services, dedicated relationship manager, and luxury concierge services.
• Priority Banking Segment for customers with monthly salary of KD 1,500-2,499 or balances of KD 30,000-100,000, offering preferential rates on personal finance and up to 24 months grace period.
• Primary Banking Segment for customers with monthly salary of KD 500-1,499 offering free first-year Visa Platinum or Mastercard Platinum card issuance and preferential personal finance rates.
• Wave Banking Youth banking segment for ages 15-25 offering digital-first banking with 3% fixed cashback, weekly Wave Wednesday rewards, Imtiyaz academic rewards for GPA 3.5+, and Kuwait's first gaming prepaid card.
• Kids Account Banking segment for children from 1 day to 15 years old with instant ATM card issuance, KD 2,000 daily withdrawal limit, and investment profits as per annual rate of return.
• Auto Finance Islamic car financing up to KD 25,000 with flexible monthly installments starting from KD 30, no down payment required, and exclusive offers with auto dealers, based on Sharia principles.
• Consumer Finance Sharia-compliant financing up to KD 25,000 for cars, boats, furniture, electronics with competitive profit rates, flexible installments from KD 30, and up to 6 months grace period. Annual percentage rate 6.900%.
• Housing Finance Islamic housing financing up to KD 70,000 with free debt insurance and preferential rates for Royal Banking and Priority Banking customers, payment periods from 12 to 180 months.
• Al Wafi Financing Musawama-based financing up to KD 250,000 against invested collateral (savings, super savings, Sunbula accounts), with flexible payment options and possibility to unfreeze collateral upon settlement. Annual percentage rate 6.500%.
• KD Wakala Fixed Deposit Corporate deposit based on Wakala investment principle in Kuwaiti Dinars only, with expected returns and tenures from 1 to 60 months, minimum opening of KD 3,000.
• Foreign Currency Wakala Fixed Deposit Sharia-compliant fixed deposit in USD, EUR, GBP with minimums of USD 10,000, EUR 10,000, or GBP 5,000, based on Wakala investment principle with tenures from 1 month to 60 months.
• Warba Flexible Deposit One-year innovative term deposit allowing partial withdrawals and deposits throughout investment period, fully manageable via mobile app with quarterly profit distributions at 3.500% and minimum of KD 20,000.
• Warba Fixed Deposit Fixed deposit based on Wakala principle with competitive returns and flexible periods up to 5 years, minimum KD 5,000, with profit rates ranging from 3.000% to 3.500% depending on tenure.
• Mastercard World Elite Dual Chip First dual-chip card combining debit and credit in one contactless card, offered in partnership with Mastercard.
• Mastercard World Elite Premium credit card offering bespoke selection of benefits, rewards, and experiences for high-net-worth customers.
• VISA Signature Luxury credit card with exclusive offers and privileges worldwide, tailored for customers seeking premium banking experience.
• Mastercard World Travel-focused credit card with exclusive privileges and experiences for travel enthusiasts.
• Mastercard Platinum Sharia-compliant credit card available in both charge and revolving options, designed to suit various lifestyles.
• VISA Platinum Credit card with facilities and discounts for a modern lifestyle banking experience.
• Visa Infinite Elite lifestyle credit card with unmatched benefits and luxury privileges.
• Visa Infinite Privilege Top-tier credit card offering unparalleled luxury with exclusive high-end benefits.
• Game Edition Prepaid Card Kuwait's first and only gaming prepaid card designed for esports enthusiasts with special deals, rewards, and exclusive benefits, free issuance for first year.
• VISA Prepaid Card Prepaid card for controlling expenses, accepted locally and internationally and for online shopping.
• Warba Concierge Premium concierge service offering personal assistance, travel arrangements, restaurant reservations, airport services, home care, and messenger services for Private Banking and Royal Banking customers.
• Warba Bank Mobile App Comprehensive mobile banking application offering account management, fund transfers, cards services, digital wallets, marketplace, and AI-powered assistant Bdr for voice-controlled banking transactions.
• Bdr AI Personal Assistant Agentic AI personal banking assistant claimed to be the first in the world to execute banking transactions via voice commands in Kuwaiti or English dialect, performing transfers, payments, and generating PayMe links after user confirmation.
• Corporate Online Banking User-friendly secure corporate banking portal providing multiple services for corporate customers to manage accounts and transactions online.
• Corporate Banking Application Mobile application for corporate banking offering seamless customer experience of web version's functionality on mobile devices.
• Treasury Services (ET Platform) Corporate treasury services through ET Platform for managing corporate financial operations.
• Real Estate Ijara Ending with Ownership Transfer Corporate financing product where Warba Bank purchases real estate and re-rents to client under ijara contract ending with ownership transfer, financing up to 60% of property value within Kuwait.
• Ijara Ending with Ownership Transfer for Usufruct on Industrial Plots Corporate financing for industrial plots leased from the State, where bank buys usufruct and re-leases under ijara ending with ownership transfer, with 50% down payment required.
• Commodity Murabaha to Finance Operating Expenses Corporate financing based on commodity Murabaha transaction providing liquidity and opening investment agency account for business operating expenses.
• Forward Murabaha for Financing Purchase of Assets Corporate financing for purchasing machines, equipment, production lines, furniture, decoration, lands, and offices based on forward Murabaha principle.
• Letters of Credit and Guarantee Trade finance products financing acquisition of materials and goods with deferred payment terms according to expected cash flows.
• SiDi Wallet Digital wallet service for domestic worker salary transfers and various payment services, with incentive campaigns for usage.
• Investment Banking Investment banking division offering structured products, syndication finance, financial institutions services, and debt capital markets solutions.
• Asset Management Asset management services including investment funds and portfolio management for optimal growth.
• Warba Invoice Gate Digital platform to streamline and automate processing of supplier invoices for auto, medical, education, and housing financing products, enabling electronic upload, automated review, approval, and payment.
• Sharia-compliant Certificates of Deposit Programme US$1 billion Sharia-compliant Certificates of Deposit Programme offering short-term instruments with tenors from one month to three years, supervised by Bank's Sharia Supervisory Board.
• Pocket Loyalty Program Fully digital loyalty program based on earning points and redeeming them through Warba Bank app services or partnering merchants, with integration for Kuwait Airways Oasis Club airmiles.
• Warba Cashback Program Cashback rewards program for Mastercard credit card users offering up to 10% cashback rates and up to KD 1,000.

Quantifiable outcome

• 66.7% total returns in 2025, biggest banking gainer in Kuwait
• +2 more outcomes

Named customers2 records

Segments8 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration11 records

AI capability6 records

Feature7 records

Partnerships

Three partnerships are on record, tiered minor and core.

• NASM (National Academy of Sports Medicine)minorStrategic or Co-development Partner · 23 February 2026Warba Bank renewed its partnership with NASM for the second consecutive year to launch a health and fitness awareness campaign during Ramadan, promoting wellness among customers and the community
• Dar Al Sabaek GroupcoreTechnology or IntegrationPartnership for gold and silver trading services - Dar Al Sabaek Group provides the digital platform for buying, selling, and delivering physical gold (24k, 999.9 purity) and silver (999 purity) bars through Warba Bank's mobile app
• Kuwait Airways (Oasis Club)minorStrategic or Co-development PartnerPartnership allowing Warba Bank's Pocket loyalty program members to redeem points for Kuwait Oasis Club airmiles

Scale indicators5 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Kuwait Finance House (KFH): KFH is Kuwait's largest Islamic bank and the most direct peer to Warba, offering the same Sharia-compliant retail, corporate, investment banking, and asset management product set. Both banks compete head-to-head across deposit products, murabaha financing, and Sukuk origination in the Kuwait market.
• Boubyan Bank: Boubyan is a Kuwaiti Islamic bank with a comparable retail/corporate franchise and a strong digital proposition. It competes directly with Warba across personal financing, current/savings accounts, and Sharia-compliant investment products in the same Kuwait customer base.
• Kuwait International Bank: Kuwait International Bank is a Kuwaiti Islamic bank that co-arranged the same Turk Eximbank USD 145M syndicate as Warba. It is a directly comparable mid-tier Islamic peer across retail deposits, murabaha financing, and treasury services.

Regional players

• AlRayan Bank (Qatar): AlRayan is a Qatari Islamic bank operating a similar full-service Sharia-compliant model across personal, corporate, and investment banking. It is a regional peer - same Islamic finance category but in a different GCC geography, useful for benchmarking cross-border Sukuk and murabaha capability.
• Dubai Islamic Bank: Dubai Islamic Bank is the largest Islamic bank in the UAE and a regional peer for Warba's investment banking, Sukuk origination, and corporate murabaha business. Comparable on product breadth and digital transformation agenda, though primarily serving the UAE rather than Kuwait.
• Abu Dhabi Islamic Bank (ADIB): ADIB is a UAE-listed Islamic bank with comparable retail, corporate, and treasury offerings and similar Sharia governance. A regional peer to Warba for benchmarking digital product launches, private banking propositions, and Sukuk execution capabilities.
• Qatar Islamic Bank (QIB): QIB is Qatar's largest Islamic bank and a regional peer across personal, corporate, and investment banking lines. It is comparable to Warba in Sharia-compliant product range and digital channels, but serves primarily the Qatari market.

Broad incumbents

• National Bank of Kuwait (NBK): NBK is Kuwait's largest bank (conventional) and a broad incumbent in the same market. While not Sharia-compliant, it competes with Warba for the same customer wallet on deposits, financing, cards, and treasury services, and is the dominant benchmark on profitability and scale.
• Gulf Bank: Gulf Bank is a conventional Kuwaiti bank identified as a potential merger counterparty for Warba. It is a domestic peer across retail and corporate banking and serves as the most direct conventional comparison for Warba's Kuwait-market positioning and pricing.
• Burgan Bank: Burgan Bank is a Kuwaiti conventional bank serving retail and corporate customers across the same geography. It is a broad incumbent peer for benchmarking Warba's retail deposit acquisition, corporate financing, and digital transformation pace in Kuwait.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/warbabank
• YouTubeyoutube.com/@warba-bank
• Facebookfacebook.com/warbapage
• LinkedInlinkedin.com/company/warba-bank
• Instagraminstagram.com/warba_bank
• TikToktiktok.com/@warba.bank?lang=en

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds2 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments3 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Warba Bank