The world’s leading Islamic financing institution Kuwait Finance House (KFH) announced that it launched the gold account for the first time in Kuwait, in an attempt to reinforce Islamic products and services that can benefit clients.
Chief of Retail Banking Mohammed Al-Fouzan explained that this product is premium for investing, since clients can store gold bars they had purchased, and can also sell them directly through KFH that announces gold rates every day.
Al-Fouzan noted that all clients are entitled to open this account that is considered to be another step forward after KFH-Turkey had opened two accounts. This step serves to underscore KFH’s keenness to offer its clients a wide array of investment instruments in light of the turbulence in the stock market; especially that the new product has minimal risks.
Moreover, Al-Fouzan mentioned that the bank offers its clients the purest form of gold (999.9), and the gold bars are coated according to the highest level of security to ensure supervision of this kind and its characteristics. The client can also store gold at KFH and withdraw some or all of it at any time.
Al-Fouzan mentioned that the account will be available during the first phase at the KFH head-office only. The account will be available later at branches to expand the range of service. Clients who are 21 years old or older can open this account.