Kuwait International Bank: Best Sharia-Compliant Bank MENA 2021

Kuwait International Bank (KIB), incorporated in 1973, is an Islamic-aligned financial institution with a strong digital backbone. The bank has been operating according to Islamic law since 2007. It refers to a panel of Islamic scholars on matters of Sharia compliance and a team of IT specialists on matters of tech innovation. KIB offers a full suite of banking services, from credit cards and real estate to treasury services and direct investments. Murabaha accounts provide Sharia-compliant financing solutions to purchase vehicles, real estate and commodities. An Islamic deposit account offers competitive profit and FX spot rates in KWD, USD, GBP and EUR. KIB’s “Ijara Muntahia Bittamleek” is a Sharia-compliant lease-to-own solution. KIB is a bank that leads by example, promoting honest and ethical conduct in all dealings to assure compliance with regulatory requirements and Islamic principles. It engages with stakeholders and publishes transparent disclosures and timely reports. It adheres to international standards on due diligence and anti-money laundering. It has cultivated a corporate culture where each individual’s integrity and dignity are valued. KIB is proud to provide Sharia-compliant business services that support the Kuwaiti society and economy. The public-quoted company has placed in the CFI.co awards programme on numerous occasions, with the judges commenting on a balance between upholding traditions and spurring innovation. This year makes KIB one of the programme’s most winning participants, as the judges present Kuwait International Bank with the 2021 award for Best Sharia-Compliant Bank (MENA).