Kuwait Finance House (KFH) offers its customers a suite of innovative, Sharia-compliant financial solutions to fulfill all needs and meet their aspirations in the ever-changing financial environment.

As financial technology, or fintech, continues to develop, KFH has tailored their plans to be flexible, long-term, and continuously yield high investment rates. KFH offers “Shifaa” for healthcare, “Jameati” for education, “Rafaa” for marriage, “Enjaz” for youth projects, and “Thimar” for retirement.

For example, the Shifaa plan offers customers the opportunity to earn higher investment returns on their savings based on monthly savings. The policy covers unpaid savings due to death, disability, and critical illness. Because of this, the Shifaa investment plan creates a significant benefit by availing funds for emergency situations.

Additionally, all savings and declared profits of a Shifaa account can be refunded and closed at any time a customer wishes.

KFH is an international pioneer in Islamic banking services and is focused on providing ethical banking solutions for its customers. 

In recent years, KFH has established digital platforms and mobile payments systems as a result of the booming fintech, sector, which includes blockchain technology. 

As we previously reported, challenges remain for Islamic scholars as they examine whether digital currencies and blockchain are Sharia compliant. Yet KFH has proven that Islamic finance and the booming fintech industry can and will successfully compete.

Interestingly, some Islamic scholars have opined that bitcoin and other digital currencies are more halal than paper money because of the lack of debt.

In 2017, KFH reported an 11.5 per cent increase in net profit as a result of rising financing and investment income. KFH has been rated an A+ by Fitch Ratings, the credit ratings agency.

Read more at Zawya.

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