Kuwait International Bank

Kuwait International Bank Overview

Kuwait International Bank (KIB) is a publicly traded Kuwait bank, co-founded by Bukhamseen Holding’s founder and chairman, Jawad Ahmed Bukhamseen.

It has been listed on the Boursa Kuwait since 1984, with Bukhamseen Group Holding and its affiliates holding about 37 percent of shares. The government of Kuwait holds a minor share in KIB through the Public Institution for Social Security.

In 2007 KIB adapted all its operations and processes to fully comply with Islamic sharia. It was the second fully-fledged Islamic Bank in Kuwait and holds about 10 percent of Kuwait’s sharia-compliant bank assets.

Its business covers all sharia-complaint banking including deposits, financing, investments, murabaha (auto, real estate and commodities) and other products. KIB also offers corporate and project finance, treasury services, issuing letters of credit and letters of guarantee.

KIB operates a network of more than two dozen branches and nearly 100 ATMs across Kuwait.

Subsidiaries include Al Dawli Invest Investment and Al Dawli Takaful Insurance. Shareholders include Bukhamseen Group Holding Company, Public Institution for Social Security and the Vanguard Group.