- The call account for companies (Wakalah) is available only to legal entities. The funds are fully invested 100% in accordance with the provisions and principles of Islamic law and the principle of investing in the (Wakalah), so that the customer is promised the expected investment returns and profits are deposited in the same account on a quarterly basis.
- The profit will be calculated on the daily balance of the account.
- A competitive pre-promised rate.
- Invest your corporate’s funds in “Sharia’a” compliant investment, profits credited quarterly.
- Account can be opened in KD or other major foreign currencies like US Dollar, Sterling Pound and Euro.
- Ability to issue Courier Card for cash & cheque deposits.
- Get benefits from “KFH eCorp” an online banking services.
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The (Wakalah) account can be opened for legal entities.
- The minimum opening balance is 1,000 KD or its equivalent in foreign currency.
- Profits are calculated based on the daily balance in the account, provided that the minimum balance is not less than KD 100,000 or USD 350,000 or EUR 300,000 or GBP 250,000.
- Ability to open the account for companies, and Islamic charity organizations, public associations, co-ops and sport clubs and student unions in Kuwait and abroad.
- Manage your account easily round the clock via our e-services:
- KFH eCorp Service.
- Telebanking Service “Allo Baitak” 1803333.
- ATM machines.
- To view the terms and conditions Click here.
Institutions:
- A copy of the Ministry of Commerce and Industry license (valid).
- The commercial register of the institution’s data (except for professional and professional licenses).
- The official approved ID (civil card / passport) for the (owner).
- Certificate of the Public Authority for Civil Information in the name of the institution (in the absence of the civil number of the entity in the commercial / industrial license).
- A copy of the Ministry of Commerce and Industry license (valid).
- The commercial register of the company’s data (except for professional and professional licenses).
- A recent extract (within six months) from the Ministry of Trade and Industry (except for professional and professional licenses).
- The visa form in the commercial registry in case there is any difference between the extract of the commercial register and the articles of incorporation and its amendments (example: company name, management, change in partners, capital ... etc.).
- The company's articles of incorporation, the articles of association of the joint-stock companies and the amendments (if any - the last amendment shown in the valid commercial license shall be approved), and for the other types of companies (the articles of incorporation and the amendments made to it).
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The approved official identity (civil card / passport) for each of (the owner, partners, general manager and authorized signatories), and for joint stock companies (Chairman of the Board of Directors, Vice Chairman of the Board of Directors, CEO, members of the Board of Directors and authorized signatories).
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Certificate of the Public Authority for Civil Information in the name of the company (in the absence of the entity's civil number in the commercial / industrial license).
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Certificate from the Ministry of Commerce and Industry stating the Chairman and Vice Chairman of the Board of Directors (for joint stock companies only).
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Certificate from the Ministry of Commerce and Industry stating the members of the Board of Directors (for joint stock companies only).
- There is no fees.