In line with the Central Bank of Bahrain’s directive regarding
postponing financing instalments, Kuwait Finance House -
Bahrain B.S.C. (c) (the “Bank”) is pleased to announce that
it will provide its retail and corporate clients the option to
postpone instalments originally due during the period from
September until the end of December 2020, with accrued
profits calculated on the unpaid instalments during the
postponement period. As a result, the finance repayment
period will increase in order to keep the current installment
To avail the instalment postponement service, retail clients
with finance facilities must submit their requests through the
link announced via SMS on their mobile number with the
Bank and can complete all procedures without having to visit
a branch. Clients have a maximum of seven days from the
date of the Bank sending the SMS notice.
Corporate clients wishing to postpone their installments can
communicate directly with their respective relationship
managers to submit any necessary requirements.
Any client wishing to apply for the installments
postponement service is required to follow the below steps:
- Visit the installment postponement application link
sent via SMS.
- Input CPR and mobile number.
- Enter the received OTP on the registered mobile
number for authentication and validation purposes.
- The application page will display the client’s current
financing deals, of which the client can select the
deals to be postponed as per the terms, conditions
and Islamic Shari’a principles to execute the
- The client will view the indicative Postponement
Table, showing the approximate additional number
of instalments, which represents the accrued profits
as a result of the postponement, expressed in
months and days for each contract.
- In order to simplify the postponement process, it is
advisable for the client to submit his/her consent
electronically in the same application page, or in
person if the client prefers.
- After completing the above steps, the Bank will
execute the rescheduling request according to the
client’s authorization and consent given in step 6
above by either executing new Murabaha deals,
extending the period of the Ijara contract, or through
any other method in line with the Bank’s internal
policy and Islamic Shari’a principles.
For clarifications regarding retail clients’ installment
postponement service, kindly contact the Bank’s official
WhatsApp channel or Call Centre at 7777 7777.
This table represents the number of added installments (in
months [m] and days [d]) to the financing facility as a result
of a 4-month profit-accruing postponement period.
* Assumes that profit rates are constant for the whole period.
* Assumes that the deals are fully amortizing with monthly
payments and no bullet or special calculations.
* The actual remaining installments period will increase by a
"roundup" of the data above (for example, if the remaining
financing period is 6 years and the agreed profit rate is 5.5%,
the actual remaining installments will increase by 1 month
and 17 days, where the client will pay his second to last
instalment fully while the last instalment will be
17/30 = 0.57 of the standard installment).