Kuwait Finance House launches Al Rabeh salary account

Kuwait Finance House (KFH) has launched the Al-Rabeh salary account, which offers clients the opportunity to win two 2016 Range Rovers and 3 kg of gold every quarter. Al-Rabeh is also an investment savings account that gives clients annual dividends.

The account is offered for clients wishing to transfer their salaries and manage their personal accounts with the ability to save and invest. Al-Rabeh account is available for individuals in KD, and it requires salary transfers to enter the draw. KFH invests 100% of the sum available in the account according to mudarabah principles, where profits are calculated according to the minimum monthly balance invested.

Interested?

Clients can open this account at any of KFH 64 branches around Kuwait. The draws are held in January, April, July, and October, provided that three rounds of salaries have been deposited in the three months prior to the draw, and a minimum monthly balance of KD50 by the end of each month is maintained. Every additional KD 50 in the account entitles clients to additional chances in the draw.

KFH saw over US$4.4 billion traded in the sukuk market

"Kuwait Finance House (KFH) volume traded in the sukuk market outpaced US$4.4 billion for the year 2015, an increase of 46% over the same period last year,” said Abdulwahab Essa Al-Roshood, Acting Chief Treasurer at KFH.

Al-Roshood added that KFH had contributed significantly to the secondary market deals of short-term sukuk by International Islamic Liquidity Management (IILM), contributing significantly to the increase of liquidity and support of Islamic financial markets. 

According to Al-Roshood, sukuk can be considered a powerful low risk investment finance tool. Sukuk are instruments of high liquidity active in the secondary market, providing flexibility and good returns, he said. 

He highlighted that sukuk contribute significantly to financing income-generating projects, boosting economic growth. Several countries worldwide, including Kuwait, are considering issuing sovereign sukuk to bridge deficits in their budgets resulting from the drop in oil prices.

Interested?

Read the Suroor Asia blog post about the IILM's primary partners

Holiday by House of Sillage celebrates with mandarin, peach and vetiver

Source: House of Sillage.

House of Sillage, a specialist in haute parfumerie, celebrates the season with Holiday by House of Sillage, which features the festive scents of mandarin, peach and vetiver.

The snow globe cap showcases sparkling scenery plated in 18 karat gold and white gold, showing freshly fallen snow descending. The floral and citrus fragrance comes in a glass bottle that is hand-polished, ombre-lacquered and adorned with 63 hand-placed, custom-coloured Swarovski crystals.

House of Sillage pays homage to the artistry, traditions and unmatched expertise of the classic parfumerie, while transcending modern conventions. The company creates fragrances which are rivalled only by their bottles. “We have created a line of luxurious and sophisticated fragrances, gathering wisdom from people who have devoted their lives to this particular kind of beauty,” explains founder Nicole Mather.

House of Sillage parfums are available in the GCC and in Indonesia.

KFH focusing on mobile app development in quest to be the best

Kuwait Finance House (KFH) is keen to develop and upgrade its applications on smartphones and the Internet. The bank wants to launch new applications that show the bank’s technical leadership, it said in a statement.

KFH has a number of apps online. On the Android store, the company has a trading app from subsidiary Muthanna Investment called KFHtrade and KFH Online for online transactions.

A refreshed Quran app for Android is expected to see more users on a daily basis, said Saeed Tawfiqi, Public Relations and Media Executive Manager, KFH. As of mid-April, the app had seen a combined 2.5 million downloads on the Android and iOS platforms, with 3,000 active daily users on iPhones and another 600 on Android devices. 

The updated app, which has a rating of 4.7 stars out of 5 at the Android App Store, now includes audio recitations by 12 of the best reciters in the Arab world, explanations, and the highlighting of searched words in different colours. The display font has also been changed for clarity and the app has been refined to fit a range of screen sizes. It can be downloaded here.

The KFH Group offers a wide array of Islamic products and services, and has a presence in the GCC, Asia, and Europe.