Executive Manager of the Savings and Investments department at KFH, Mohammed Ghandour, stated that the deposit, which has numerous advantages and features, comes as part of KFH’s efforts to offer its clients new investment opportunities that cater for their investment needs.
Ghandour added that the Al-Nuwair deposit is distinguished by its Islamic wakalah structure, under which KFH acts as an agent on behalf of the clients to manage their investment activities.
In contrast KFH promises the clients with expected profit rates based on different investment periods, noting that the deposit allows clients to receive returns without the need to wait until end of the fiscal year. In addition, clients can withdraw up to 30% of the invested amount without having to cancel the deposit.
Moreover, he explained that Al-Nuwair provides flexible investment tenures ranging from one month to three years and clients can identify the tenure of investment by the number of days starting from a minimum of 30 days. He indicated that clients can reinvest their profits at each renewal date to achieve higher returns; they can also pre-request modification of the invested amount of the deposit at maturity date.
He noted that the minimum deposit for this deposit account is KD5,000, and KFH can arrange for high investment returns for deposits with KD50,000 and more. The deposit is available to all individuals and corporate entities and can be opened through KFH branches.
Moreover, he explained that Al-Nuwair provides flexible investment tenures ranging from one month to three years and clients can identify the tenure of investment by the number of days starting from a minimum of 30 days. He indicated that clients can reinvest their profits at each renewal date to achieve higher returns; they can also pre-request modification of the invested amount of the deposit at maturity date.
He noted that the minimum deposit for this deposit account is KD5,000, and KFH can arrange for high investment returns for deposits with KD50,000 and more. The deposit is available to all individuals and corporate entities and can be opened through KFH branches.