KFH: integrated banking and financing solutions for SMEs

KFH provides, through SME Banking Department, a diversified package of banking and finance services

  
Homoud Al-Awadhi

Homoud Al-Awadhi

Kuwait:  The Executive Manager – SME banking – KFH, Homoud Al-Awadhi said that the bank plays a major role in supporting and financing small and medium enterprises, thus affirming the significance of this sector in the field of economy and growth.

Al-Awadhi indicated that KFH provides, through SME Banking Department, a diversified package of banking and finance services and solutions to fulfil the needs of the SME sector. He noted that the package includes cash finance services e.g., Murabaha, Tawarruq and Ijara and non-cash finance e.g., all types of letters of credit and letters of guarantee.

He added that KFH provides other services e.g. points of sale (POS) as well as all e-banking services that would facilitate the management of corporate accounts e.g. balance inquiries, bank transfers, employee salary transfer, viewing POS reports and many other sundry e-banking services.

Al-Awadhi reiterated that the significance of the SME Sector lies in the fact that it forms a potential seed for the emerging of major companies, thus providing job opportunities for the Kuwaiti youth at low capital costs. Also, the SME sector is characterized for using local resources at a large scale, supporting suppliers and merchants and enhancing the economic cycle. The SME sector contributes to the enhancement of self-sufficiency policies for certain commodities and services and plays its role in supporting domestic product.

Al-Awadhi highlighted KFH role in supporting and financing the companies affected by COVID19 pandemic, by providing facilitated finance services to SME and other economic entities which were affected by the Covid19 pandemic, thus aiming to cover the needs of these corporates and sectors and prevent the short term liquidity crises from turning into a solvency crises.  

He added that the bank is fully compliant with the provisions of Law No. 2 for the year 2021 regarding the rescue of Small and Medium Enterprises from the impacts of the COVID19 pandemic. The law is available on KFH website for those interested. The website comprises all details concerning the rescue of SME including procedures, finance cost, beneficiaries, illegible parties and other details of the law as per the organizational framework set by the Central Bank of Kuwait.

Send us your press releases to pressrelease.zawya@refinitiv.com

© Press Release 2021

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.


More From Press Releases