Kuwait, 30 October 2023: Kuwait International Bank (KIB) is continuing its support of the national financial awareness campaign, ‘Let’s Be Aware’ (Diraya), by raising banking literacy among all members of society. The Bank realizes the importance of disseminating the culture of savings and investment and is keen on introducing the various services and products it offers to help customers manage their financials.
In this regard, Fahad Alsarhan, Senior Manager from the Marketing Department and the Corporate Communications Unit at KIB, said: “We continue to strive to raise customers’ awareness around the importance of enhancing their savings skills and methods and utilizing the investment products and tools offered by the Bank. These services increase their revenues and savings rates and allow them to achieve various goals, such as affording their children’s high-quality education, launching a private business project, and ensuring a comfortable, safe retirement plan.”
Discussing the different products offered by banks, Alsarhan pointed out that the investment deposit is a sum of money that customers deposit with their bank to be invested on their behalf, allowing them to earn returns over set periods. Another product banks offer is investment funds, a shared investment tool that allows customers to invest their money in diverse industries and different formats, such as shares, Sukuk, money markets, and more. In addition, banks offer investment savings accounts, which differ from investment deposits as they allow customers to withdraw and deposit funds at any time.
Alsarhan also highlighted KIB’s Al Dirwaza Account, one of the more recently launched savings accounts, which is available exclusively to retail customers. Al Dirwaza comes as a draw-based investment savings account, established on the Wakala investment principle. Considered the strongest of its kind and one of the best tools introduced yet for savings and investment, it offers annual expected profits of up to 2% disbursed on a monthly basis – where the customer gets an expected profit of 2% for the first three months from the account opening date and up to 1% expected rate onward. The expected profits are automatically deposited in the customer’s account on the first day of the beginning of each month.
It is worth noting that KIB constantly aims to provide a safe and advanced banking experience that suits its customers’ lifestyles and ensures their comfort. The Bank remains committed to its comprehensive and new strategy, which focuses on delivering a more advanced and rich experience, based on its main ‘Bank of Life’ slogan.