KUWAIT CITY, Sept 24: Kuwait Finance House (KFH) announced that customers can now open Al Nuwair deposit for their children electronically using the KFH Online application. In line with KFH's strategy, this new service aims to provide customers with simple digital services and products to enhance their banking experience, adhering to the latest international standards in financial and banking services.

The innovative Al Nuwair investment deposit offers a pre-determined return and several unique features. Profits are distributed on the maturity date, eliminating the need to wait until the end of the fiscal period. The deposit is flexible, allowing for withdrawals of up to 30% of the invested amount without breaking the deposit. Additionally, investors can choose to reinvest their profits to maximize future returns.

Before opening the Al Nuwair deposit, a client can open an account for their children. This also applies to the guardian of a minor. Such accounts are considered profit accounts for the new deposit that will be created. The client can activate this service through Allo Baitak or by visiting any branch. The father or guardian can manage the deposit and withdraw from it up to a maximum of 30%. and withdraw funds from it, up to a maximum of 30%.

Al Nuwair deposit is based on the legitimate principle of "Wakala investment" where KFH acts as an investment agent for its clients. KFH promises clients a predetermined profit rate according to various investment periods ranging from one month to three years. Additionally, clients can choose specific investment periods in days, starting from 30 days or more. The minimum initial deposit for Al Nuwair is KD 1,000, making it accessible to a wide range of customers.

The distinctive Al Nuwair deposit complements a diverse range of savings and investment products, catering to the varied needs of all KFH customers and offering highly competitive returns.

KFH stands out in the banking industry, offering a comprehensive range of investment deposits that excel in terms of return, maturity, and investment ratio. Its deposits are renowned for their innovative features and ease of account opening, available through a convenient network of branches, online channels, and ATMs.

KFH provides competitive returns on deposits within the banking sector. This is attributed to its strong investment performance, robust profitability indicators, and diverse investment opportunities.