Kuwait Finance House (KFH) lowered the fees required for cash withdrawal of Visa and Master Cards, where instead of paying 4% of the sum of money that was withdrawn, the bank will charge KD 6 for any cash withdrawal in Kuwait and overseas. This step comes as an attempt to offer KFH clients more privileges and to encourage them to use their credit cards.
Deputy Manager of Banking Cards Department Salem Al-Doweisan said that this step comes in response to requests made by KFH clients, and supports local competition through offering products approved by Islamic Shariah that KFH follows in all its operations and transactions. He went on to say that this new system will only be limited to credit cards, and highlighted the quality of services offered by the bank in the banking cards field, which prompted VISA and MasterCard to select KFH as a model during the past 10 years in that field.
In addition, he mentioned that any improvement or upgrading of services and products is sparked by remarks and suggestions made by clients, which allows KFH to offer convenient Islamic services and products that meet the regulations set by supervisory authorities.