Kuwait Finance House (KFH) is the first foreign Islamic bank that was granted a license under the Islamic Banking Act in Malaysia in 2005. It is a wholly-owned subsidiary of Kuwait Finance House, and it has established itself in Malaysia with various financial services, including several loan products tailored to individual and business needs. Here are the loan services offered by KFH Malaysia:
Asset Acquisition Financing
- Ijarah Muntahiah Bi Tamlik Asset Acquisition Financing-i: This is a leasing contract for a completed property, ending with ownership either by way of gift or sale.
- Ijarah Mausufah Fi Zimmah Asset Acquisition Financing-i: This is a forward lease contract for property under construction, also ending with ownership either by way of gift or sale.
- Automobile Ijarah-i: This is a financing solution for automobiles with the tagline “Shift to perfection”.
- Murabahah Personal Financing-i Generic: This financing solution is ideal for individuals who need funds, for instance, to start a business.
- KFH Personal Financing-i: A Shariah-compliant personal financing package following the Shariah concept of “Murabahah Tawarruq”, designed for salaried employees, with a flexible tenure of 2 – 8 years and competitive profit rates. It’s best suited for personal use including child’s education fees【61†source】.
Cash Line Financing
- Murabahah Cashline-i: This service allows individuals to get instant cash without touching their existing deposits or investments.
- Murabahah Personal Financing-i: This is a term loan with a generic profit rate of 4.55% p.a. and a standardized base rate of 3.00%, aimed at helping individuals finance their homes.
KFH Malaysia’s loan products are designed to adhere to Islamic financing principles, offering various options to meet the different financial needs of individuals and businesses in Malaysia. KFH Malaysia aims to provide flexible and convenient financial solutions to its customers through these financial products while adhering to Shariah principles.