Kuwait Finance House - Bahrain (KFH-Bahrain) has enhanced its portfolio by introducing new and distinctive range of private banking services, as well as innovative wealth management services to meet customers' needs for Sharia-compliant investment solutions.
Abdul Razak Jawahery, Executive Manager of Private Banking and Wealth Management in KFH-Bahrain, said: “We have witnessed a strong demand for wealth management and private banking solutions. We strive to offer effective and efficient services through providing financial consultations to increase customer returns, profits and investments, which comes in line with the bank's strategy to serve the largest segment of customers.
“We shall keep up with the latest developments in the Islamic banking sector, to provide a wide range of solutions and options that meet our customers’ needs and requirements as well as cater to their lifestyles, as well as banking products and services that help them manage their wealth and double their financial returns through profitable investments,” he added.
Private banking services include several accounts that can be opened in either Bahraini dinars and/or US dollars, such as: Call Accounts which combines the benefit of savings and current accounts, with the added benefit of calculating profits on a daily basis and distributing the profits on a monthly basis to investors, while the Wakala Investment Accounts profits are distributed on a monthly basis. Also, the new Flexi Wakala Investment Accounts gives the flexibility to withdraw up to 20% of the investment amount during the investment period and profits are distributed to the clients’ accounts on maturity date.
KFH-Bahrain Wealth Management also offers a range of Sukuk and Sukuk Leverage to its investors, providing customers with the opportunity to earn a Shariah compliant fixed income. This will allow investors to diversify their portfolio while generating recurring income. They can now leverage their investment in liquid sovereign Sukuk which enables them to enhance their yields. KFH-Bahrain has also introduced Lombard products that allows customers to benefit from short-term liquidity secured against their existing investments without the need to liquidate their portfolios at competitive financing rates with convenient repayment terms.
KFH-Bahrain is continuously seeking innovation and close observance of the Islamic Banking sector in revamping and enriching its rapidly expanding portfolio of carefully tailored products and services to provide the best means of an excellent user experience, he said.
A full range of wealth management solutions are provided by KFH–Bahrain, inclusive of Current Accounts, Savings Accounts, Mudharaba Accounts, Wakala Accounts, International Murabaha, and Sukuk that are flexible, diverse and can complement varying customer requirements in order to meet their individual objectives. – TradeArabia News Service