Kuwait Finance House (KFH) has introduced a new service for “Gold Account” customers titled “KFH’s Gold, delivered to your door”. The service, which is available against specified fees, provides the delivery option of gold biscuits at customer’s request and to a prespecified location. Customers’ requests are delivered within two working days and the gold biscuits are handed personally to the account holder.
KFH Group Deputy General Manager –Products, Nehal Almosalem said: “Customers can open the Gold Account through KFHOnline, ATMs, or by visiting KFH branches. Also, customers are able to purchase and sell gold biscuits of 24 carats with 999.9 purity in Kuwaiti Dinars starting from a weight of 10 to 100 grams.”
“Gold Account customers can now demand for the gold biscuits to be delivered at any time by submitting a request of the quantity from their account balance starting from 10 grams.” added Almosalem.
She explained that with the new service, KFH aims to ease and minimize branch visits by offering an opportunity to own gold biscuits through a safe, flexible, and easy online service, in addition to delivering them to customers inside Kuwait at fixed and unified fees regardless of location, or weight of the gold bullions bought.
“Ten years ago, KFH was the first bank in Kuwait to introduce the Gold Account for its customers in an attempt to enhance its role in providing innovative products, diversify investment opportunities for customers while expanding its market share in retail banking services.” added Almosalem.
She noted that the Gold Account is naturally an investment account in which customers are able to purchase and sell gold biscuits directly from KFH, noting that prices of gold are declared daily. Customers can also have a free of charge custody option where they can safely keep the gold at KFH with the choice to take out the gold partially or in full at any time.
She pointed out customers’ high demand for KFH’s Gold Account for its diverse benefits, flexible and easy use. The account has also transformed how customers manage gold as an important asset of value retention and investment at the same time, as well as a protection against price volatility as it is the quickest source for liquidity when looked-for.