Kuwait Finance House (KFH) announced revenue distribution for various investment deposits that it offers its clients through main currencies, in addition to the three year deposit in Kuwaiti dinar for Quarter 3. This deposit achieved good returns compared to returns of other currencies, despite current financial markets status worldwide.
Treasury Department Manager Abdul Wahab Al-Roshoud stated that the three year deposit in Kuwaiti dinar achieved 1.40% in returns during Q3 of this year, and noted that this is considered to be a competitive rate compared to what the market offers, not to mention the stability of the Kuwaiti economy and the governmental support that Kuwaiti banks have. He added that KFH offered during Q3 competitive returns on main foreign currencies deposits compared to local and foreign markets. He said that returns on US dollar reached .94% during Q3, while it had reached .97% during the past six months, and 1.01% during the past nine months, with annual return 1.27%.
Moreover, KFH distributed returns on deposits in Euro by end of Q2 1.064%, 1.10% for six months, 1.137% for nine months, and 1.166% as annual return for depositors.
Furthermore, Sterling Pound deposits achieved .765% in returns by end of Q3, .791% for six months, .817% for nine months, and .838% as annual returns for deposits in Sterling Pound.
Al-Roshoud explained that KFH distributions for US dollars are the highest in the market, in addition to the three year deposit in Kuwaiti dinar. He stressed that despite turbulences in global financial markets, the markets of the region remain a safe alternative for investors. He advised investors to avoid speculations and to use the Kuwaiti dinar, and predicted that there will be changes in the interest rates of Euro during the coming period, while interest rates for US dollars remain stable.
It is worth noting that the least sums of money required for deposits are SP 10,000, EU 10,000, USD 25,000, and KD 5000 for three year deposit that offers quarterly profit.