Kuwait Finance House (KFH) offers a unique financing product to finance luxury cars, boats and other motorcycles in return for a collateral that can be deposits or saving accounts against debt obligations.
This comes as part of KFH's efforts to diversify forms of access to finance while providing innovative financing solutions at premium prices, in addition to facilitating procedures and shortening time and effort for customers.
Financial collateral against financing does not require any direct deduction from the salary, neither certificates nor guarantor. The transaction can be completed quickly to meet customers’ needs to own the desired commodity as quickly and easily as possible. In addition, customers receive a special return on KFH deposits.
Group Deputy General Manager Products at KFH, Mohamed Ghandour said that “Financial collateral against financing” product is available for individuals. It is the easiest and fastest way to get financing as it doesn’t require complicated procedures or approvals, and is approved immediately according to the customer’s financial position. Existing or new customers can choose between KFH's diversified investment products in accordance with the Mudaraba or the Wakala and benefit from the bank’s deposits and saving accounts during the financing period.
He added that the product aims at providing the best and fastest service to customers while achieving a competitive advantage for KFH customers who have deposits or savings accounts at the bank.
Ghandour stressed KFH's ongoing commitment towards providing the best Islamic financial services and solutions while diversifying the choices to customers according to their abilities and potentials in line with the highest standards of service quality.