Warba Bank Launches Wave Banking Digital Account for Youth
Wave Banking offers a fully digital experience designed for young customers’ lifestyles and financial needs. The platform includes a Prepaid Visa Card with cashback rewards of up to 3 percent on personal transactions in Kuwait and abroad, capped at $489 (KD 150) per month.
The Imtiyaz Program rewards students maintaining a GPA of 3.5 or higher with up to $162 (KD 50) per semester and 5,000 Mokhba points per semester, redeemable via the Warba app. The program is fully digital and allows students to apply by selecting their university from a list of participating institutions.
Rewards, Marketplace, and Tools
Wave Banking designates every Wednesday as Wave Wednesday, offering weekly rewards. Twenty winners receive shopping vouchers from partners like Talabat and Oula Fuel. The platform also hosts a youth-focused digital marketplace with curated deals.
An interactive financial dashboard enables users to set budgets, track spending, and monitor goals in real time. Wave Banking supports electronic disbursement of student allowances. Strategic partnerships enhance benefits across shopping, entertainment, transport, and daily needs. Multi-layered security systems and AI-driven financial analytics provide personalized financial insights.
Impact and Future Plans
Wave Banking promotes youth engagement, financial inclusion, and education. Features include 3 percent cashback, a fully digital banking journey, the Game Edition card, and the Imtiyaz Program. Future plans include expanding commercial partnerships, enhancing financial planning tools, increasing customization options, and extending the Imtiyaz program to more universities. Initiatives also focus on youth financial literacy and investment training.
