AGM for Commercial Sector at Kuwait Finance House (KFH) Ahmed Al-Khaled stated that the car leasing market is one of the booming markets locally, since it is highly demanded by some client segments.
Al-Khaled, who received an invitation from North Gulf Trading Company on the occasion of launching new car categories from Hyundai, explained that KFH is keen to cement its relationships with various authorized car agents throughout the year, where it launches promotional campaigns, in addition to training KFH employees to improve their performance. He went on to say that the reinforcement of KFH’s market share in car leasing requires high quality of service and constant efforts to offer unique services for KFH clients through increasing sales outlets. He noted that the leasing service has several benefits, such as total insurance for the vehicle, the possibility of changing the vehicle during a year or two as the client wishes, and giving the client a substitute car while his car is being serviced.
Furthermore, he stressed the importance of supporting suppliers through car agents through offering solutions that can help in boosting their sales, such as setting up a new market that includes the largest number of vehicles suppliers as it occurred in Dubai and Qatar, where it will limit traffic congestions in Rai and Shuweikh. This can also allow Kuwaiti youths to enter the vehicles market as commercial brokers or through technical work.
Al-Khaled said that KFH is committed to Shariah, which sets KFH apart from other banks and financial institutions, which mean that no product or service can be launched without the approval of the Fatwa Department at KFH. He added that all operations in the Commercial Sector are under the Shariah scrutiny by the Fatwa Department and other concerned units.