Kuwait International Bank celebrates 38th anniversary

Press release

Published May 31st, 2011 - 01:07 GMT

Al Bawaba

Kuwait International Bank (Al-Dawli) celebrated its 38^th anniversary today, after being officially introduced to the market in 1973 as one of Kuwait’s leading banking institutions.

Al-Dawli celebrated this occasion during an event held for its staff at The Regency Hotel where a number of the bank’s spokespersons gave short speeches and presented a competition and raffle draw with a dinner buffet.

Dr. Mahmoud Abul Eyoun, Kuwait International Bank’s CEO said: “The bank’s operations has come across many challenges, developments and transitions, indicating that, throughout the past 34 years of operation as Kuwait Real Estate Bank, the bank has carved its niche as one of the leading institutions in real estate sector.”

“We saw a turning point in 2007 where it obtained a license to convert to Islamic banking. Since then we have successfully been able to position ourselves among pioneer banking institutions in the Islamic world in terms of conversion from a specialized real estate bank into a full-fledged Islamic bank” added Dr. Abul Eyoun.

"We would like to seize this opportunity to convey our gratitude to all those who contributed to the establishment of this entity. I am confident that we will continue this journey together, the bank is really proud of having a working group at this level of performance and professionalism. We must take this opportunity to renew our commitment together to move forward in our journey as an effective institution in the Islamic banking industry.”

"I believe that giving attention to small details is the key behind success and great businesses. Everyone is responsible and involved in the success of the bank including Board of Directors, Executive Management, staff and workers.” Concluded Dr. Abul Eyoun

Background Information

Kuwait International Bank

KIB a bank that operates according to the Islamic Shari’ah from 1st of July 2007, is a public quoted company. It was incorporated in 1973 and was originally known as the Kuwait Real Estate Bank.
As an Islamic bank, KIB’s business covers all banking services including Acceptance of Deposits, Financing Transactions, Direct Investment, Murabaha (auto, real estate and commodities), Ijara Muntahia Bittamleek (Lease-to-own) , Istisna’a, Tawarruq, Credit Cards, Wakala and other products. Corporate projects and finance, Treasury Services, Issuing Letters of Credit (L/Cs), Letter of Guarantee (L/Gs) and Real Estate Dealings and Management of Properties.