Business
PRESSR: Warba Bank launches first digital “Easy Finance” in Kuwait for domestic workers
PRESSR: Warba Bank launches first digital “Easy Finance” in Kuwait for domestic workers
About this update from Warba Bank Ksc
Kuwait: As part of its vision to provide innovative solutions that serve all segments of society, and in a first-of-its-kind initiative in Kuwait, Warba Bank launched “SiDi Easy Finance”, a digital easy financing solution designed exclusively for residents under Article 20 )domestic workers(. The service offers financing in three tiers of KD 100, KD 200 or KD 300, with flexible repayment periods ranging between 3 and 9 months.This initiative comes as part of the Bank’s strategy to enhance financial inclusion for low-income segments that often lack access to appropriate financial and banking services. Previously, Warba Bank launched the SiDi account to provide integrated banking solutions that include account opening and low-fee remittances, designed to suit the needs and capabilities of low-income clients.On this occasion, Mr. Hamad Mohammad Ashkanani, Senior Director Business Excellence at Warba Bank, said: “We are proud to be the only bank in Kuwait providing specialized financing solutions for domestic workers. SiDi Easy Finance is not just a financial product; it is a true embodiment of our vision ‘Let’s Own Tomorrow,’ as we work to build a fair and inclusive financial system that serves all members of society without exception.”Ashkanani further stressed that this financing solution is governed by a regulatory framework compliant with Islamic Sharia principles and requires no financial commitments from the sponsor. He noted that this reflects the very purpose of the SiDi account, which aims to provide full independence for its clients, while also supporting sponsors by offering additional options to track salary transfers alongside a set of free banking services and products through the SiDi app.A seamless and secure digital journeySiDi Easy Finance service provides a fully digital, secure, and user-friendly experience. SiDi clients can submit financing applications, receive approval and obtain financing without the need to visit any bank branch. The process begins with submitting an application via the SiDi app, which first requires the client to open a bank account through the app, a process that is entirely free, simple and secure.To ensure the highest standards of authentication and security, clients must activate their digital signature through self-service kiosks provided by the Public Authority for Civil Information (PACI), available at multip...