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ABK Seals Agreement with KFIC

Al Ahli Bank of Kuwait (ABK) today announced an agreement with Kuwait Finance and Investment Company (KFIC), whereby ABK will purchase KFIC’s consumer vehicle loans on a rolling basis, allowing it to offer its wide range of retail banking services and products to a broader audience.

Mr. Abdullah Al-Sumait, Deputy Chief General Manager of ABK, said, “ABK’s agreement with KFIC is another step towards building on the Bank’s strong positioning in the retail banking sector. By expanding its reach to a larger portfolio of clients, ABK is reinforcing the diversity of the services and products it offers. We look forward to developing our partnership with KFIC.”

Executive Board Member at KFIC, Mr. Tareq Mishari Al-Bahar said: “We take pride in the trust exhibited by Al Ahli Bank of Kuwait in our company. This prosperous collaboration with the Bank will broaden the range of our financing operations, and in return will help us diversify and increase our customer base. At KFIC we are always keen to initiate collaboration that will provide an added value.”

At the signing ceremony, senior management from both companies were present when Mr. Abdullah Al- Sumait, Deputy Chief General Manager of ABK and Mr. Tareq Al- Bahar, Executive Member of KFIC signed the contract. Also in attendance from ABK were, Mr. Stewart Lockie, General Manager Retail Banking and Mr. Mark Davies, Assistant General Manager Retail Banking. On behalf of KFIC, Mr. Moataz Hejab, CFO and Mr. Ahmed Maher Zaki, Head of Financing Services Division were present to finalize the agreement.

For more information on ABK please contact an ABK representative via ‘Ahli Chat’, or speak to a customer service agent via ‘Ahlan Ahli’ at 1899899.