KIB Sav­ings Ac­count of­fers high­est re­turns in Kuwait

Re­turns rise to 1.41% in Q3 of 2016

Kuwait Times - - BUSINESS -

KUWAIT: Kuwait In­ter­na­tional Bank (KIB) an­nounced the 3rd quar­ter re­sults of its Sav­ings Ac­counts, which saw a rise in re­turns to a record 1.41 per­cent, the high­est avail­able rate in Kuwait. Eu­gene Gal­li­gan, Act­ing Gen­eral Man­ager of the Re­tail Bank­ing De­part­ment at the Bank said: “At KIB we al­ways strive to of­fer a com­pre­hen­sive suite of in­no­va­tive bank­ing prod­ucts and ser­vices in ac­cor­dance with Is­lamic Sharia prin­ci­ples, in or­der to cater to the needs of our cus­tomers across all seg­ments. The Sav­ings Ac­count is unique in of­fer­ing the ben­e­fits of sav­ings and in­vest­ment com­bined into one sin­gle ac­count. It also of­fers the high­est re­turns on in­vest­ment in the mar­ket, con­tin­u­ing to show solid and con­sis­tent growth.”

Gal­li­gan fur­ther added: “The Sav­ings Ac­count of­fers a num­ber of ad­di­tional ben­e­fits, in­clud­ing the abil­ity to open the ac­count in Kuwaiti Di­nar or any other ma­jor for­eign cur­rency, no min­i­mum ac­count open­ing, debit card is­suance, and flex­i­bil­ity with de­posits and with­drawals, in ad­di­tion to in­creased ben­e­fits for per­sonal fi­nanc­ing.”

KIB of­fers a va­ri­ety of in­vest­ment prod­ucts avail­able in both Kuwaiti di­nar and other ma­jor for­eign cur­ren­cies, in­clud­ing Al-Boushra De­posit, Al-Joud De­posit, Arzaq De­posit and the Sav­ings

Eu­gene Gal­li­gan

Ac­count. All KIB prod­ucts guar­an­tee com­plete trans­parency and flex­i­bil­ity, in ad­di­tion to of­fer­ing highly com­pet­i­tive and re­ward­ing re­turns on in­vest­ment.

Kuwait In­ter­na­tional Bank (KIB) is a bank that op­er­ates ac­cord­ing to the Is­lamic Shari’ah, based in the State of Kuwait. In­cor­po­rated in 1973, and orig­i­nally known as Kuwait Real Es­tate Bank, KIB made the tran­si­tion to its cur­rent Is­lamic op­er­at­ing model in 2007.

To­day, KIB is a full ser­vice Bank op­er­at­ing through a net­work of 28 branches spread across the State of Kuwait, and of­fer­ing a broad range of bank­ing prod­ucts, ser­vices and so­lu­tions in ac­cor­dance with the prin­ci­ples of the Is­lamic Sharia. The Bank’s mis­sion and vi­sion also en­com­passes a lead­ing so­cial re­spon­si­bil­ity pro­gram that aims at sup­port­ing ev­ery mem­ber of Kuwait’s so­ci­ety by spear­head­ing a mul­ti­tude of ini­tia­tives and ac­tiv­i­ties.

In 2015, KIB em­barked on a com­pre­hen­sive strate­gic trans­for­ma­tion plan, aimed at im­prov­ing the Bank’s per­for­mance in­di­ca­tors, as well as en­hanc­ing the qual­ity of its prod­ucts and ser­vices. The three-pronged trans­for­ma­tion strat­egy is set to con­clude in 2017, and fo­cuses on pro­pel­ling the Bank to the fore­front of the Kuwaiti bank­ing sec­tor and set­ting it on a solid path to be­com­ing the “Is­lamic bank of choice” in the mar­ket.

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