Kuwait International Bank

Press release
Published October 12th, 2011 - 10:04 GMT
Kuwait International Bank
Kuwait International Bank

Kuwait International Bank (KIB) presented its competitive range of Shariah-compliant banking products and services to staff and visitors of the Public Authority for Industry at its temporary booth on the authority’s premises.

Mr. R.K. Nair, Head of Retail Banking Department at KIB said: “Our booth at the Public Authority for Industry is a practical step taken by the Bank to be as close as possible to current and potential customers. The booth provided KIB’s banking and financing services departments the opportunity to directly meet Public Authority for Industry staff and visitors and introduce the Bank’s products and services”.

KIB’s products and services are tailored to meet the needs of customers, including Murabaha products and new innovative solutions for real estate finance and cars loans, as well as many others.

“We will continue developing our banking services in the line with our policy to  focus on ensuring that KIB is the best option for those wanting to bank with a Shariah-compliant financial organization” added Nair.

KIB aims to offer the best banking solutions for customers’ needs. The Bank has recently launched “Visa Platinum card”, “Prepaid visa card” and “Al-Dawli Gift card”, in addition to various financial services such as Murabaha for real-estate and vehicles, as well as investment Wakalah, Ijarah MB in addition to different forms of Islamic Financings.  Some of the many other services from KIB include Al-Jood Al-Muthmerah, investment deposit, Haboubb kids’ account, Rimas ladies account, Al-Nafees account for professionals and safe deposit boxes are also among Al-Dawli services. 

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.

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