KIB hails the succes of its Visa international prepaid and Visa gift cards

Press release

Published September 25th, 2011 - 06:49 GMT

Al Bawaba

Kuwait International Bank (KIB), one of Kuwait’s leading Islamic banks, today commented on the success of the recent launch of its Visa International Prepaid Card and Visa Gift Card.

Mr. R.K. Nair, Senior Manager in KIB’s Retail Business Development (RBD) department said that: “KIB is committed to ensuring that its customers benefit from the very best banking services available. We are very pleased that the Visa International Prepaid Card and the Gift Card so popular and effective at meeting the diverse needs of our valued Al-Dawli customers.

“The benefit of the cards for our customers is that they are prepaid, reloadable and readily available, which means that customers can easily control and manage their finances. The cards also work online and through retail outlets, providing maximum flexibility and convenience.”

KIB is focused on expanding its range of Shariah-compliant banking products to assist its customers in all their financial requirements. Its competitive Visa International Prepaid and Visa Gift cards were launched during this year’s Eid Al Fitir holiday. Both cards are fully compliant with Sharia banking requirements.

Background Information

Kuwait International Bank

KIB a bank that operates according to the Islamic Shari’ah from 1st of July 2007, is a public quoted company. It was incorporated in 1973 and was originally known as the Kuwait Real Estate Bank.
As an Islamic bank, KIB’s business covers all banking services including Acceptance of Deposits, Financing Transactions, Direct Investment, Murabaha (auto, real estate and commodities), Ijara Muntahia Bittamleek (Lease-to-own) , Istisna’a, Tawarruq, Credit Cards, Wakala and other products. Corporate projects and finance, Treasury Services, Issuing Letters of Credit (L/Cs), Letter of Guarantee (L/Gs) and Real Estate Dealings and Management of Properties.