The new service by Warba will facilitate customers to purchase financial products and services in compliance with Shariah law and personal finance regulation.
Head of Personal Financing Waleed Al-Musallam said that “Murabaha Express” is a unique service and is being introduced for the first time in the region. He said that its Shariah compliance makes it appealing for banking customers in the region. Moreover, the new service will enable customers to save time and effort as they would be able to sell goods in a streamlined manner. Warba Bank will undertake the selling of goods on behalf of the customers. The money received from the merchants will be transferred to customers’ account. This service is an extension to the traditional Islamic banking method of giving the customer a delivery notice.
Al-Musallam highlighted the multiple benefits of “Murabaha Express” including access to various new personal finance related products and services and high quality customer service experience. Some of the products will be launched in the second phase of introduction. He said that the service will set a benchmark in the industry by providing measurable quality in all products and services.
Warba Bank is relatively a new venture which has grown tremendously in a short period of time.
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