Kuwait International Bank

Capital: KD 94,302,424

On the first of July 2007, the Kuwait Real Estate Bank (incorporated in 1973) has been renamed to “Kuwait International Bank” to exercise its business as an Islamic bank.

The Bank carries out all banking and investment transactions in compliance with the provisions of the Islamic Shari’ah and pursuant to the instructions and regulations issued by the Central Bank of Kuwait.

The Bank’s business covers all banking services, of which, acceptance of deposits, exercising various Islamic financing transactions, carrying out direct investment transactions, issuing letters of credit (LCs), letters of guarantee (LGs), incorporation of companies, management of properties to the account of third parties and the purchase of lands and real properties.

In its present capacity as an Islamic banking institution, the Bank provides its customers with Islamic banking transactions which cover several Islamic products and solutions, e.g., Tawaruk, Wakala in Investment, Murabaha (auto, real properties, commodities) Lease-to-Own (Ijarah Muntahia Bittamleek), and Istisna’a.

At present, the Bank employs 487 staff and it has nine branches in all areas in the State of Kuwait.