Kuwait Finance House (KFH) has inked a memorandum of understanding with Kuwait Clearing Company (KCC) in which cash dividends can be transferred into shareholders’ accounts electronically. This service will be effective in financial year end 31 December 2015 in tandem with financial results announcement. The service provides an efficient, time-saving and convenient banking experience to KFH’s shareholders as they are not requested any more to visit Kuwait Clearing Company to take dividends cheques as per the old system.
The MOU included terms of cooperation and coordination between KFH and KCC in regarding the exchange of information of shareholders wishing to transfer their cash dividends by the end of the year into their bank accounts without having to issue cheques of their names which prompts them to visit the KCC.
It’s worth noting that this service is optional. For those wishing to follow the new system, an application request should be submitted to KFH in order for them to avail the service. In addition, KFH shareholders can visit KCC website and fill in the service application. Then, the KCC provides KFH with shareholders’ information to complete the procedures of transferring dividends process.
This new service reflects KFH’s keenness to adopt the latest technology to provide its clients with a unique banking experience. The service also confirms KFH’s put forth efforts in achieving fruitful cooperation with KCC that plays an important role in this field thanks to its massive experience and high caliber human resources.
KFH works tirelessly to improve its services system in an effort to encompass all segments and cover all fields in a balanced manner.