Kuwait - __ January 2022:

Moving ahead with its strategic plans to expand services at its branches to reach the largest number of customer segments, Kuwait International Bank (KIB) recently announced it will be offering its corporate banking services at four of its branches located in key strategic areas across Kuwait. The Bank will now be serving corporate clients at its Salmiya (in Laila Gallery Complex), Khaitan, and Al-Ahmadi branches – as well as its head office branch located in Kuwait City.

KIB currently offers a series of premier financial solutions to its corporate account clients, including Al-Tojjar Corporate Service Cards, which enable cardholders to deposit cash or inquire about their accounts online. The Bank also offers corporate clients the ability to to open a Call Account – a Sharia-compliant account designed only for legal entities, companies, and corporate customers, where they can simultaneously enjoy the advantages of a current and savings account in one for their business.

Moreover, business owners will be able to apply for services and financing solutions from KIB through these branches, including project financing services and cash financing for SMEs, as well as real estate financing with a suite of comprehensive services, including real estate appraisal, property management, and more.

Commenting on this latest branch service expansion, General Manager of the Bank’s Retail Banking Department, Othman Tawfeqe, said: “This step comes as part of our strategy to expand our reach in general and best serve all segments of our customers, in accordance with their rapidly changing financial needs and lifestyles. Striving to keep pace with recent developments, we focused our efforts to enhance the scope of our corporate services within branches to best cater to our corporate clients across Kuwait”.

Tawfeqe also indicated that any service required for opening, updating, or reactivating a new company account can only go through the HQ corporate branch, whereas the same can be conducted for “Al-Amil” account members only at the Khaitan branch. That being said, according to Tawfeqe, all four corporate branches offer all additional basic corporate services. This includes issuance of cheque books, local and foreign telex transfer, letters of credit and guarantee (LC and LG), pay orders, balance confirmation, in addition to signature verification and cash transactions.

It is worth noting that KIB has more than 16 branches in Kuwait, distributed all across the country. Its head office, Salmiya, Ahmadi, and Khaitan branches were selected as hubs for corporate services due to their central locations and the ease of access they provide. As part of its strategy to enhance its network of branches, the Bank aims to continue developing its offering to its corporate customers across all its locations – to provide a bespoke and tailored banking experience to them across all touchpoints.

 

About KIB

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. In 2018, KIB embarked on a new phase of its journey full of innovation and development. As part of its new strategic direction, the Bank focuses on offering a next-level customer experience under the slogan: “Bank for Life”. 

 

Through a network of branches spread across the State of Kuwait, KIB offers a broad range of banking products and services, as well as innovative digital banking solutions in line with international best standards. As part of its duty towards the community, the Bank also encompasses a leading social responsibility program that aims at positively impacting all members of the community through a wide range of impactful initiatives and activities.

 

Today, KIB has taken concrete steps in implementing its new strategic objectives. The Bank has cemented its role as a key player in the local banking industry and has continued to maintain its strong financial performance; enabling it to be globally recognized for its strong credit rating and financial position.