Signed a cooperation agreement to improve Kuwait’s health sector stakeholders’ skills
Warba Bank is distinguished by the innovative solutions it presents to all members of the Kuwaiti society, which reflects its commitment to supporting social growth as well as spreading education and culture. Accordingly, Warba Bank announced an exclusive cooperation agreement with the Life Sciences Academy (LSA) on December 5, 2016, through which it offers educational financial facilities for health sector employees who are looking to enroll in training programs organized by the academy, renowned as leader and the first health academy in Kuwait and the Gulf region that offers training programs for health sector professionals.
Warba Bank offers these financial facilities through ‘bargaining’ contracts that are exclusive for education, and according to the Islamic sharia. It also guarantees flexible instalments facilitations that extend for up to 5 years through the free Takaful insurance system. In addition, these facilities are available for all, do not require salary transfer, and with limits ranging from KD 1000 to KD 15,000.
Commenting on Warba Bank’s initiative, Mr. Basel Al-Obaid, Chief Corporate Banking Officer, said: “Warba Bank is keen on designing innovative financing solutions that are complaint with the Islamic sharia, and commensurate with the bank’s developmental strategy that aims to provide facilitations for education to improve the capacity of Kuwait’s health sector employees.”
“Our partnership with the Life Sciences Academy is aligned to the standards of the bank’s message and vision, which aim to provide flexible facilitations and to encourage those looking to improve their professional skills. We hope that it reflects positively in service of citizens and the society,” he added.
Al-Obaid further indicated that Warba Bank continues its message of innovating solutions that benefit all segments of society, regardless of their monthly income, because the bank believes that it originated from the middle of the Kuwaiti society to present guidance and support necessary for its development.
“We are committed to making our clients’ lives easier, and to always present financing offers for them that are designed according to flexibility and innovation standards, which makes Warba Bank their first destination for Islamic banking transactions,” Al-Obaid concluded.
Meanwhile, Mohammad Nahes Al-Enezi, CEO of the Life Sciences Academy which is owned by the National Group for Technology Projects (affiliated to the Kuwait Investment Authority), said that singing the cooperation agreement with Warba Bank to finance the training courses that the academy presents comes in line with the social responsibility of both parties in terms of supporting the health sector and its all of its workers.
Al-Enezi added that the new financing service comes as a solution for a problem created by the limited budget dedicated for training at the Ministry of Health, as well as the pressures created by the state’s budget deficit, coupled with the urgent need to improve the health sector and train medical personnel on using the latest medical technologies and skills.
Furthermore, it helps limit the state’s spending on treatment overseas, he added.
Moreover, he further indicated that the agreement stipulates providing a financing with a minimum of KD 1,000 and maximum of KD 15,000, and without profits on the declared price, in order to help doctors, nurses and other medical personnel improve themselves, and enroll in professional training courses certified by the most prestigious medical institutions around the world. It could also allow them to attend international scientific conferences and workshops with reduced costs, and without having to wait for long periods to obtain training courses in a dynamic and fast evolving sector, thus improving their career competitiveness locally and regionally.
Al-Enezi further indicated that the integrated financing solutions available between the Ministry of Health and Warba Bank makes it mandatory to implement a compulsory continued medical education system for all medical personnel, which is a system followed worldwide as a condition to practice medicine.
He added that the academy is the first of its kind in the Gulf region which is specialized in presenting continued medical education programs in Kuwait, both in the public and private sectors. Furthermore, he pointed out that the academy carried out more than 150 training programs over the past two years and a half dealing with various health fields for the public and private health sectors, in which around 1,000 trainees have enrolled. He further explained that the academy provides knowledge, education and training through professional training programs in all health-related fields, and for practicing doctors, pharmacists, physicians, and even executive directors as a unique platform for continued professional development programs, thus making its programs a true opportunity to stay acquainted with the latest internationally certified medical practices.
It is worth mentioning that Warba Bank is a leader in designing financing solutions that meet all of our clients’ needs. It recently launched a series of promotions to finance vehicles, signing in the process strategic partnerships with international automobile agencies. It also offers online services including the Express Finance service which it recently announced in cooperation with the Public Authority for Civil Information.
About Warba Bank
Warba Bank was established pursuant to Emiri decree and officially registered as an Islamic bank by the Kuwaiti central bank on 5 April, 2010. It offers a bundle of comprehensive integrated services and banking solutions that comply with the Islamic sharia jurisdiction, and such services are offered through three groups or services, namely, the Banking Group, the Company Financing Group and the Investment and Treasury Group. The bank has ten branches in strategic locations with over 400 employees working under its umbrella.