What is Kuwait International Bank?
The Kuwait International Bank was developed in 1973. It was known as Kuwait Real Estate Bank. On 1st July 2007 Kuwait International Bank was operate according to Islamic Shari’ah. The Kuwait International Bank is a public quoted company. The Business of the Kuwait International Bank covers all banking services. It provide the services of Deposits, Financing Transactions, Auto, Real Estate, Commodities, Direct Investment, Lease to own, Credit Cards, Wakala, Tawarruq and many more. Currently Kuwait International Bank has 24 branches in the state of Kuwait. A group of entrusted Islamic scholars is assigned to review new products of the Kuwait International Bank. This group is also look after contracts and investments transactions to certify that all activities of the Kuwait International Bank are conducted according to the Islamic Shariah. Kuwait International Bank follows the Anti Money Laundering Laws and regulation of Central Bank of Kuwait. it also follows the international standards of regarding Know your customer requirements. The International Bank of Kuwait has its independent Anti Money Laundering unit. It prevents and detects money Laundering, terrorist financing and other illegal activities. The Kuwait International Bank is not dealing with Shell banks or companies. To verify the customer Identification the bank is used customer acceptance and customer due attentiveness policy. All the employees of the Kuwait International Bank have to attend annually training regarding Anti Money Laundering.