Kuwait Finance House (KFH) announced the launching of "KFH Trade" service for trading the stocks of Kuwaiti companies listed in Kuwait Stock Exchange (KSE), which operate in accordance with the Islamic Shari'a rules. The service is launched in cooperation with Al-Muthanna Investment Company, via online and phone services. A Diwaniya-type lounge in Kaifan Area hosts dealers, with a view to expand the scope of the service, at a later stage, to include Gulf and global markets.
Mohammad Naser Al-Fozan, AGM for Banking Sector, stated that the service, named "KFH Trade", comes in line with KFH's trend to cope with the modern technologies, which will facilitate customers' trading on KSE, while mitigating the daily problems facing investors in the conventional trading methods, that need applications, follow up and access to reports. "The new e-service features fast and simple trading, without added fees, and avoiding a lot of problems that may be suffered." He explained, "The main problems are the difficulty to contact the broker during the daily trading sessions, causing loss of opportunities, and sometimes causing the investors to incur losses that could be avoided had they been allowed to enter orders at the right time." He added.
"Customers may have access to the Islamic companies listed on KSE by visiting the website www.kfhtrade.com.
"In collaboration with Al-Muthanna Co., KFH Trade is processed to ensure maximum security for users, and each new subscriber will be given a PIN for access, known as the trading number." Al-Fozan continued. "KFH Trade covers the various basic trading transactions, such as buying, selling shares and securities, easy alteration of buying and selling orders, increasing/decreasing the number of shares offered for put or call, changing the order prices, as well as opening trading accounts that meet customers' specific requirements." He elaborated.
On the other hand, Al-Fozan stated the provision of "Mubasher" advanced trading service, whereby customers may select to monitor the prices of their preference shares in the listed Islamic companies, read the latest news upon arrival, and obtain financial analyses by the best experts. "Investors may trigger buying or selling orders and monitor their implementation. They may also request notification by e-mail of some matters and events of particular interest to them. The service is designed for the customers who wish to trade online by themselves and in line with their own analysis." He said.
Al-Fozan indicated that KFH has equipped and implemented a new Diwaniya-type hall at Kaifan Branch, together with upgrading the e-trading systems to meet the investors' ever-growing requirements for more disclosure, transparency, and easy trading. "The hall is designed to cater for all electronic and information facilities required by investors, in addition to modern equipment, including terminals, PC, communication and internet devices." He commented.
Al-Fozan commended the vital role played by Al-Muthanna Investment by effectively participating in applying this service, providing the customers with the opportunity to subscribe through proxy, and collecting all customer profit and bonuses, while providing technical support and advice in trading through contacting the customer service center of KFH Trade.
He stated that KFH has endeavored to use the state-of-the-art techniques to gain several evaluations and ratings, bein