Kuwait International Bank inaugurates a new branch at The Avenues‏

Press release

Published June 21st, 2011 - 11:55 GMT

Sheikh Mohammed Al-Sabbah, Chairman of KIB and Abdulhameed Al Hajji, Governor of Farwaniya cutting the cake

Kuwait International Bank (KIB) today inaugurated its latest branch at The Avenues shopping mall as part of its expansion programme to extend its reach across the State of Kuwait.

The event was attended by the retired Lieutenant General, Abdulhameed Al Hajji, Governor of Farwaniya, Sheikh Mohammed El Jarrah Al-Sabbah, Chairman of KIB and other important guests.

Sheikh Mohammed Al-Jarrah Al-Sabbah, said: “The opening of our branch at The Avenues marks the latest step of our commitment towards reaching our customers and is part of our overall strategy to expand our network of branches across the State of Kuwait.

“We believe that our new branch at The Avenues will enhance our relationship with our customers and provide them with the added convenience of a local branch and full banking services.”

Sheikh Mohammed Al-Jarrah Al-Sabbah emphasised that KIB, as one of Kuwait’s leading Islamic banking institutions, is committed to providing state-of-the-art banking and making customer service excellence the bank’s top priority. The bank expects to open further branches throughout 2011 as part of its strategy of broadening its accessibility to new, as well as present customers, as well as presenting its portfolio of innovative Sharia’a-compliant banking products and services.

The new branch at The Avenues branch raises the total number of KIB’s branches to 16.

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.