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Kuwait-Based Islamic Bank Enters the Metaverse

News Feed - 2022-07-03 07:07:45

Kuwait-Based Islamic Bank Enters the Metaverse


Warba Bank, a Kuwait-based Islamic bank, recently became the latest corporation from the Middle East and North Africa (MENA) to enter the metaverse. The bank now occupies two sites in the metaverse, one Decentraland and another one on Sandbox. Pioneering Digital Transformation


In what has been described as a first for an Islamic bank, the Kuwait-based Warba Bank recently said it now occupies two sites in the metaverse, one on Decentraland and another on Sandbox. The bank’s presence in the metaverse is expected to bolster its communication with the young generation.


In his remarks following the confirmation that Warba Bank has entered the metaverse, Anwar Bader Al-Ghaith, the financial institution’s VP for Support Services and Treasury said: Warba Bank’s interest in entering this virtual reality comes within the framework of digital trends to transform into a [Web3]. The world of virtual reality is used in several advanced fields, including services, education, health and others. And Warba Bank aims to be close to its clients in virtual reality to introduce its products and services, as well as communicating with them in an innovative way that reflects Warba Bank’s image as a pioneer in digital transformation.


Al-Ghaith explained that Warba Bank is eager to support its younger clients hence its entry into the metaverse. According to a statement released by the bank, Warba is now working to achieve its ambitious goals as well as to enhance the benefits of digital services.


The bank will also focus on absorbing emerging technologies and artificial intelligence, the statement said. Tags in this story ai, Anwar Bader Al-Ghaith, Decentraland, Metaverse, Sandbox (SAND), Virtual Reality, Warba Bank, Web3


What are your thoughts on this story? Let us know what you think in the comments section below. Terence Zimwara


Terence Zimwara is a Zimbabwe award-winning journalist, author and writer. He has written extensively about the economic troubles of some African countries as well as how digital currencies can provide Africans with an escape route. E-commerce Giant Ebay Files Trademark Applications Covering Wide Range of Metaverse, NFT Services METAVERSE | 4 days ago Cryptoys Raises $23 Million to Mix NFTs, Gaming, and Virtual Toys METAVERSE | 6 days ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleReport: Huobi to Start Layoffs That Could ‘Exceed 30%’ — Founder May Sell Stake in Company Next articleTax Agency Starts Checking Crypto Traders in Romania Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItRipple CEO: SEC Lawsuit Over XRP "Has Gone Exceedingly Well"


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