Kuwait, 23 September 2023: Kuwait International Bank (KIB) announced the launch of a special campaign, “KIB Supports You”, which offers tailor-designed financing options for the residents of Mutlaa, adding a layer of ease and convenience to every step of their home building process, from construction to finishing, furnishing, and moving into their new homes. This campaign stems from the Bank’s comprehensive strategy for contributing to social and sustainable development, as well as offering the best banking solutions to its customers across all market segments.
In light of the campaign’s launch, Abdulaziz Al-Shammari, Head of Central Sales at KIB, stated: “We are happy to announce that all residents of Mutlaa, whether they are existing KIB customers or not, are welcome to benefit from the “KIB Supports You” campaign and its various financing options. Designed in adherence to the Shari’ah Islamic law, the Bank offers financing up to KD 95,000, which includes housing finance, consumer finance, and home insurance services delivered through KIB Takaful Insurance Company.”
It serves to note that the housing finance requires a minimum income of KD 500 in order for the applicant to receive a KD 70,000 Murabaha, which they can repay over comfortable periods of up to 15 years, with a yearlong grace period for the first installment. These terms are designed to enable the people of Mutlaa to buy the necessary materials for building and finishing their private housing projects with ultimate convenience.
To add more ease to the process, KIB offers its Mutlaa-based customers the opportunity to apply for consumer financing using PayTally to benefit from a wide range of services and products provided by the Bank’s retail and service partners, including True Value Kuwait, Midas, IKEA®, Marina Home, Alarabiya Electrical, Almanzil, Aquasan, Banta Furniture, and many more notable brands. To apply for consumer finance of up to KD 25,000, applicants are required to secure a monthly income starting at KD 300, with a repayment period of up to five years, including a three-month grace period.
It is worth noting that KIB spares no effort in maintaining its leading position in the national banking sector, which the Bank achieves by focusing its attention on offering banking solutions that aim at elevating the quality of life for all community members. In parallel, KIB remains committed to achieving sustainable development as part of its comprehensive strategy for making steady advances toward a brighter, more prosperous future.