Libshara account is available to customers of all nationalities and can be opened by individuals with the age of 18 and above or by a legal guardian on behalf of a minor. The account can also be opened for establishments, corporations or any other legal entity.
The minimum deposit to open Libshara account is BD50. You will receive one entry into the draw for every BD50 saved into your account for 30 days. The more you save, the more chances you will have to win.
Since this is a Mudarabah account, any profits generated will be distributed to the account holders. The updated profit distributed rates are available on KFH website (www.kfh.bh) and Mobile Application.
You can deposit and withdraw unlimited amounts by one of the following methods:
Visiting any of our branches.
Transfer funds electronically to your Libshara account from your existing KFH eBanking account, your other bank’s eBanking account.
Deposit funds from any bank’s debit cards through our online Top-up service that is available on our website (www.kfh.bh). However, as a Libshara account holder, you are not eligible for an ATM card or a cheque book.
The card works similar to conventional credit cards; however, Kuwait Finance House credit card is a Shari'a compliant card (no interest, no hidden cost). The card only charges an annual fee which is payable on a monthly basis.
KFH credit card is NOT the same as charge card. The card allows customer to pay a minimum monthly payment of 5% of the outstanding balance (a minimum payment of BD 10 applies), as opposed to charge card where full amount is payable on payment due date.
The Cards are not intended to be used at ATMs for the purpose of receiving cash advances. However, If the customer choose to use the Cards for cash advances. We shall charge the Cards a fee in respect of cash advances which the customer agree and will be added to his monthly balance to cover certain third party costs and handling fees at an amount equivalent to BD 4 and will be levied irrespective of the amount of cash advance withdrawn. Some limitations on ATM cash advances may apply, such as limitations on BHD amount.
The amount over the actual credit limit will immediately fall due and to be paid once the bank statement is delivered to the customer. The Bank is also entitled to deactivate the card in case of over limit withdrawal.