Kuwait International Bank: Best Banking Vision MENA 2022 and Best Sharia-Compliant Bank MENA 2022
Kuwait International Bank (KIB) is a public quoted company with a 49-year legacy of supporting the economic development of its clients and the country. It has been operating according to Sharia principles for more than 15 years.
The bank recently released financial reports for the first nine months of 2022, achieving the equivalent of $151.9m in operating revenue and $12.9m in net profits. KIB delivers high-quality, innovative services across all its business lines: retail banking, real estate and corporate banking. The bank pursues long-term sustainable growth through the continuous reinforcement of its financial core, operational model and technical infrastructure. It’s a modern bank with regular roll-outs of new products to meet the changing needs of society. It launched a Sharia-compliant Dirwaza savings account, based on Wakala investment, that distributes monthly profits to customers, in addition to cash prize drawings throughout the year. It also introduced two new subsidiaries this year. KIB Mubader Centre is dedicated to the country’s entrepreneurship segment, while Innovotech Centre will serve as the technology arm of the bank. KIB is one of the longest-reigning champions in the CFI.co awards programmes and has been recognised in each of the past eight years.
The CFI.co judging panel announces Kuwait International Bank as the winner in two award categories for 2022: Best Banking Vision (MENA) and Best Sharia-Compliant Bank (MENA).
