Frequently ASKED QUESTION

Establishments: Commercial License – Commercial Register Certificate – Civil Information Authority letter showing establishment civil No. – Original civil ID for each of the authorized signatories.

Companies: Memorandum of Association duly authenticated – commercial register certificate – civil information authority letter specifying civil No. – Original civil ID of each of the authorized signatories based on the articles of association and amendments thereon.

Islamic charity societies and donation committees: Articles of association – official letter from Ministry of social affairs and labor authorizing the opening of the new account and determining the party authorized to manage the account – a letter from civil information authority showing civil No. – Civil ID of all persons authorized – KFH legal department approval to open account.

Public interest societies, cooperative societies and sporting clubs: Articles of association – official letter from Ministry of Education or Kuwait University naming the persons authorized to manage the account – Civil authority letter showing civil No. of union inside Kuwait – civil ID of persons authorized to manage account.                             
 

Minimum account required for opening an investment saving account is KD 100/- or equivalent in foreign currency.                            

You may open a saving account with KD 100/- or an automated service (ATM) account with KD 10/-                            
 

No. Cheque book can only be issued for current account.                           
 

KFH customer may not open more than one active gold account. It is not permitted to have more than one gold account in the customer file.                            
 

Account may be opened for retail customers only and may not be opened for corporate bodies. Owner of the gold account shall not be less than 21 years in age.                            
 

• Father (Natural guardian).

• Grandfather (Fathers side) in case of father’s death.

• Legal guardian as per a court order.

• Donor (with/without court order) provided that he signs the related declaration provided that the donor shall not manage the account without a court order.

• Note: Donor means (any person legally qualified to submit an account opening application and deposit an amount of money as a donation).                           
 

Yes. Takaful insurance policy is issued automatically in the customer’s name when plan is established. In case of death or a total permanent disability (due to sickness or accident) during the plan validity period the Takaful insurance shall cover the remaining targeted and unpaid amount.                            
 

Saved amount plus accumulated profit during investment period shall mature for payment upon expiration of the investment plan.                            
 

• Customer age shall be 21 – 55 years old.

• A plan is established in the customer’s name and a Takaful policy is issued automatically in his name with the plan

• Targeted investment amounts starts from KD 5000/- to KD 20000/-

• Investment period ranges between 5 – 39 years.

• Amounts are transferred automatically on monthly basis from the customer’s account to the investment plan account "Themar".                            
 

• Invested amount may be switched to monthly payments at any time.

• Withdrawal of not less than 40% of invested amount at any time at the end of the second year.

• Possibility to withdraw up to 30% of invested amount at the end of the 5th year.

• Possibility to withdraw not less than 30% of invested amount at the end of the 10th year.

• Possibility to withdraw not less 30% of invested amount at the end of the 15th year.

• Monthly investment amount may be increased automatically once every two years.

• Certain financial payments may be deposited in addition to deducted monthly payments without impacting the investment plan timetable.

• Fixed Takaful coverage may be selected (a fixed amount determined by customer in the policy) or a declining Takaful coverage (targeted amount less monthly payments paid)

• Investment plan may be cancelled at any time and invested amount plus profit realized till the closing date may be refunded to customer. However, unrealized profit may be calculated as per saving profit.                            
 

• Customer visits real estate employee at any of the branches providing this serviced, to inquire about the possibility of getting real estate finance from KFH.

• Following initial approval on the customer’s financial status documents required for opening a real estate transaction file are orders and file is sent to real estate department.

• Real estate department shall study customer’s financial status.

• Real estate employee shall send a request to evaluate the real estate to be purchased.

• Real estate department, following approval/ disapproval shall send the file to the real estate employee at the branch.

• Real estate employee at the branch shall contact the concerned customer to visit him and complete transaction procedures.                            
 

Usufruct types are as follows:

• Rest house e.g. (chalet – farm – livestock farm ….etc.)

• Investment e.g. (Industrial plots – warehouses …etc.)                             

Yes. For industrial plots in Shuwaikh area only.                            
 

No. credit loan cannot be used.                            

• Minimum profit for a transaction of more than KD 1000/- is KD 100 (KFH Salary).


• Minimum profit for a transaction of less than KD 1000/- is KD 50/- (KFH customer or non-KFH customer).                            

 

• Dajeej Showroom
• Shuwaikh Showroom

• Yes. This can be done via following steps".

• Upon completion of transaction the party entitled to receive the car shall be determined.

• No objection to deliver the car (delivery notice must be sent) .                           
 

Yes, there is a special profit rate according to the customer segment.                  

Yes. KD 10/-                            
 

• The lowest consumer installment is KD 20/- .

• The lowest housing installment is 30 KD.
                      

Lowest amount paid by KFH customer to enjoy SMS service on prepaid credit cards or ATM card will be KD 15/-                           
 

Free of charges.                            
 

• Bank branches.

• KFH websites.

• KFH telephone service (Alo Baitak).                            

 

• Fill in account opening form which can be obtained at any of KFH branches.
• Visit customer service representatives of KFH Trade at Baitak Tower – Floor 32.
• Visit website KFHtrade.com.                            
 

The company receives dividends and bonus shares on behalf of the customer, and deposits the same in his portfolio. Customer may see this in the portfolio report. The company notifies the customer about the increase in capital and subscription therein on behalf of the customer based on his approval.                            

 

Sharia compliant companies.                            

 

Following documents are required:

• Shares title deed showing owner’s name of transferee account.

• Original shares certificate.

• Original copy of general power of attorney must be provided in case of transferring shares carrying another person’s name.

• Transfer process shall take 3-7 working days.                            

 

• Log in the system.

• Go to account section.

• Select "Transfer".

• Press "outgoing cash".

• Select portfolio and cash account to which transfer is required.

• Select transfer method.

• Enter transfer amount.

• Press "Next".

• Select bank’s name.                           

 

Customer may withdraw up to KD 800/- from Al-Shamel through "other amounts" button. For other KFH ATMs customer may withdraw KD 500/- maximum.                            

 

All banking branches (1 ATM for each branch) (wall fixed device) inside the branch.                            
 

Yes.

If cheque is withdrawn on KFH how long does it take to deposit amount into customer’s account?

In case deposit is made through branch employee then the period will be as follows:

• Cheque will be deposited at the same time.

In case cheque is deposited through Al-Shamel device:

• If before 1:00 PM then deposit will be made at the same time. If after 1:00 pm then deposit will be made next day.

If cheque is withdrawn on another bank "Maqasa" what will be the period to deposit amount in customer’s account?

• If deposit is made through branch employee then the deposit period will be as follows:

* If before 1:00 pm deposit will be made after 3 working days. If after 1:00 pm then the 3 days period shall be calculated effective the following day.

* In case deposit is made through Al-Shamel.

• If before 1:00 deposit will be made after 3 working days, If after 1:00 then the 3 days period shall be calculated effective the next day.                            
 

Cheque book cancellation fees shall be KD 10/-.                            
 

• Issue deposit.

• Amend/ Cancel L/G s

• Bounced Clearing cheque.

• Other than that the customer may refer to any of the bank branches.                            
 

Ternary or quadric name must be mentioned on the endorsed cheque. The work "bid" or any other work shall not be written on the cheque.                            
 

• Bank account opened at KFH.

• Civil ID (original).                            
 

Insurance fees of safety deposit keys are KD 50/-.                            
 

The fees for obtaining duplicate keys for the safety deposit box shall be KD 50/-. Same hire services shall be applied to the next box and with the same contract conditions of the broken box. The new box No. and commencement date of service continuation must be mentioned on the contract. A copy of the box breaking report, duly signed by customer, branch manager and concerned employee must be attached.                            
 

Head Office – Jahra – Fahaheel – Khaitan – Hitteen – Sabah Al-Naser – Andalus – Mubarak Al-Kabeer – Khaldia – Fahad Al-Ahmed – Salmia – Shaab – Aardiya – Bayan – Rihab – Kaifan – Sabahiya.                            
 

• Salary not deposited in the customer account.

• Irregular salary

• Customer on unpaid leave.                            
 

Customers registered in the insolvent persons fund shall not be issued credit cards. They can be issued only Tayseer card against a financial guarantee equal to the card value.                            
 

Customer calls "Aloo Baitak" service on 1803333 and request service activation.                            
 

• Inter-account transfer.

• Transfer to KFH account.

• Telex transfer locally and globally.

• Transfer to "KFH Trade".

• Transfer to charity committees.

• Transfers to credit cards or pre-paid cards.                            
 

• Minimum limit per transaction KD 10/-.

• Maximum limit per transaction KD 10000/- .

• Minimum limit per transaction for this service KD 1/-

• Maximum limit per transaction for this service – No limit                           
 

• Minimum limit per transaction for this service KD 1000/-

• Maximum limit per transaction for this service KD 10000/-                            
 

• Minimum limit for a local telex transfer per transaction KD 10/-

• Minimum limit for an international telex transfer per transaction KD 30/-

• Maximum limit for this service KD 10000/-                            
 

• Minimum limit per transaction for this service KD 1/-

• Maximum limit per transaction for this service KD 10000/-                           
 

• Minimum limit per transaction for this service KD 1/-

• Maximum limit per transaction for this service KD 1000/-                            
 

• Minimum limit per transaction for this service KD 1/-

• Maximum limit per transaction for this service KD 10000/-                            
 

• Minimum limit per transaction for this service KD 1/-

• Maximum limit per transaction for this service KD 1000/-                            
 

• Minimum limit per transaction for this service KD 50/-

• Maximum limit per transaction for this service KD 10000/-

• Maximum monthly limit for this service KD 15000/-                            
 

• Minimum limit per transaction for this service will be the lowest installment value for the customer.

• Maximum limit per transaction for this service KD 10000/-                            
 

• Minimum limit per transaction for this service KD 5/-

• Maximum limit per transaction for this service KD 20/-

• Maximum limit for this service KD 100/-                            
 

Transfer may be made through Tamweel Online service maximum KD 10000/- on daily basis and Maximum KD 30000/- on monthly basis.                            
 

• No fees are charged on inter-account transfers, transfer to KFH account, local telex transfer, transfer to KFH Trad. account, transfer to charity committees and prepaid credit cards.

• International Telex Transfer: KFH shall not charge any fees on international transferred funds processed through Tamweel Online. There may be other fees collected through the correspondent/ beneficiary bank from the total transfer amount.                            
 

Customer sends an e-mail via Tamweel Online service and determines his request (inquiry/amendment/cancellation) along with his approval to deduct determined fees so that the transaction would be processed.                            
 

Customer sends an e-mail via Tamweel Online service and determines his request (inquiry/amendment/cancellation) along with his approval to deduct determined fees so that the transaction would be processed.                            
 

• I-BAN No. means International Bank Account Number.