Kuwait, 16 May 2023: Kuwait International Bank (KIB) continues to provide the best exclusive financing offers on consumer products and services, in partnership with IKEA Kuwait. This comes within the framework of the Bank’s continuous commitment and relentless efforts to provide unprecedented banking solutions and a unique shopping experience to its customers.

In this regard, Othman Tawfiqi, General Manager of Retail Banking Services, said: “KIB continues to strengthen its strategic partnerships with consumer service providers, to reward its customers with the best products and prices to meet their lifestyle needs and maintain its excellence. We at KIB see our partnership with IKEA as an important step to strengthen relations between the two parties. It is also an opportunity to provide the best offers and discounts to customers wishing to furnish or buy supplies for their homes, offices, or otherwise, in cooperation with one of the most well-known international brands that provide innovative, high-quality products. IKEA also happens to be the most popular brand among the majority of our customer segments”. 

Tawfiqi added: “We provide a series of comprehensive financing services at KIB, such as personal financing and consumer goods financing, which are among the most popular financing products that have been continuously in-demand by customers. This demand stems from their advantages, such as easy and flexible monthly payments, convenient grace periods, financing the purchase of many commodities, including home furnishings, and many others.”
“From this standpoint, we continue our financing partnership with IKEA, to ensure that our customers enjoy the possibility of purchasing all they need from the company’s products, including furniture and high-end accessories, and the ability to pay in convenient methods,” Tawfiqi concluded. 
The agreement between KIB and IKEA includes innovative and flexible financing deals, with long-term credit facilities, offered to customers of both parties. According to the agreement, KIB customers are granted easy credit financing for a period of up to 18 months. Meanwhile, the Bank offers a 'Mosawama' financing deal with a value ranging between KD 300 and KD 25,000, up to a maximum of 24 months. KIB customers can easily apply for and follow up on their exclusive financing request via the PayTally platform.

For his part, Abdulaziz Al-Shammari, the Head of Central Sales at KIB, referred to the potential returns and positive results of this strategic financing partnership with IKEA, in light of the accelerated pace of distributing permits on housing units due to the urban expansion witnessed in Kuwait. This is also coupled with the demand of many citizens to build new homes, which will require complete furnishing. He added: “Under the umbrella of its corporate slogan ‘Bank for Life’, KIB seeks to contribute to enhancing the lifestyle of its customers, in their current or new homes, by providing all the convenience to repay their funds”.

It is worth noting that KIB spares no effort to develop long-term strategic partnerships and relationships as part of the Bank’s responsibility towards its customers, and in order to achieve its fixed goals. KIB aims to elevate the experience of banking, especially with financing services, to a more comprehensive and integrated level, in line with the modern lifestyle that meets the aspirations of customers.