Latest news with #KIB
The Star
a day ago
- The Star
Former unit trust consultant charged
The SC said Nadihah faced two charges jointly with another individual who is at large. PETALING JAYA: The Securities Commission (SC) has charged a former unit trust consultant (UTC) Nadihah Nawi at the Kuala Lumpur Sessions Court with offences relating to securities fraud involving purported unit trust investments. In a statement, the SC said Nadihah, 34, faced two charges jointly with another individual who is at large, under section 179(b) of the Capital Markets and Services Act 2007, read together with section 34 of the Penal Code. 'She was charged with defrauding two investors of RM20,000 by representing to them a unit trust investment in Kenanga Investors Bhd (KIB). 'The offences took place between January and June 2022 in Kuala Lumpur. 'The monies deposited by the investors were instead utilised for Nadihah's own unit trust investments in KIB. 'Nadihah was a UTC with Principal Asset Management Bhd at the material time.' The SC said Nadihah claimed trial to both charges before Sessions Court judge Tuan Izralizam Sanusi and was granted bail of RM70,000 with two local sureties. The court also imposed an additional bail condition for the defendant to report to the SC's investigating officer at the SC office in Kuala Lumpur on a monthly basis.
The Star
2 days ago
- Business
- The Star
SC charges former unit trust consultant with securities fraud
PETALING JAYA: The Securities Commission Malaysia (SC) has charged a former unit trust consultant (UTC), Nadihah Nawi, at the Kuala Lumpur Sessions Court for offences relating to securities fraud involving purported unit trust investments. In a statement, the SC said Nadihah, 34, faced two charges jointly with another individual who is currently at large, under section 179(b) of the Capital Markets and Services Act 2007 (CMSA), read together with section 34 of the Penal Code. 'She was charged with defrauding two investors of RM20,000 by representing to them a unit trust investment in Kenanga Investors Bhd (KIB). The offences took place between January and June 2022 in Kuala Lumpur. 'The monies deposited by the investors were instead utilised for Nadihah's own unit trust investments in KIB. Nadihah was a UTC with Principal Asset Management Bhd at the material time.' The SC said Nadihah claimed trial to both charges before Sessions Court judge Tuan Izralizam Sanusi and was granted bail of RM70,000 with two local sureties. The court also imposed an additional bail condition for the Accused to report to the SC's investigating officer at the SC office in Kuala Lumpur on a monthly basis. 'The court however did not order for the surrender of Nadihah's passport as it had already expired in 2023.' If convicted, Nadihah faces a jail term not exceeding 10 years and a fine of not less than RM1mil.
Al Bawaba
5 days ago
- Business
- Al Bawaba
KIB offers its Black segment customers complimentary airport transfers in luxury limousine vehicles in partnership with Wiyak
Kuwait International Bank (KIB) announced the launch of an exclusive new offer for its Black segment customers, providing complimentary airport transfers in luxury limousine vehicles, in collaboration with its trusted partner, Wiyak. This initiative comes as part of KIB's ongoing commitment to delivering an exceptional banking experience and premium benefits to its valued customers, reflecting the Bank's dedication to elevating service standards and enhancing the overall customer on the offer, Mariam Al-Nasser, Head of Branches and Premier Banking at KIB, said: 'At KIB, we are committed to enriching the experience of our Black segment customers through carefully tailored services that align with their lifestyle and meet their aspirations. Our collaboration with Wiyak falls within this vision, offering a luxury transport service that ensures the highest levels of comfort and privacy, from the moment they depart to their return from travel. We believe that excellence lies in the details, and we continuously strive to enhance our offerings and services in a way that reflects the stature of our customers and their trust in the Bank.'Al-Nasser concluded by reaffirming KIB's commitment to expanding the range of benefits offered to its customers and continuing to launch more innovative partnerships that enhance the added value of its banking this partnership with Wiyak, KIB Black segment customers can now enjoy complimentary, comfortable, and seamless limousine transfers to and from the airport. To take advantage of this offer, eligible customers can call or reach out via WhatsApp on 22211221 to book their ride at least 24 hours prior to their departure date. Additionally, KIB Black customers holding Visa Infinite credit cards are entitled to a discount of up to 15% on all transportation and car rental services offered by Wiyak. It is worth noting that KIB offers its Black segment customers a wide range of premium banking solutions and products, in addition to a variety of exclusive benefits. These include priority processing of banking and financial transactions through a dedicated relationship manager, access to designated premium banking lounges at branches, a VIP phone service, and priority booking for branch visits via the website or the KIB Mobile app. Customers also enjoy free local and international transfers, as well as a 50% discount on safe deposit boxes.
Al Bawaba
24-07-2025
- Business
- Al Bawaba
KIB Group reports net profit of KD 14.8 million for H1 of 2025
Sheikh Mohammed Jarrah Al-Sabah, Chairman of Kuwait International Bank (KIB), announced the Group's financial results for the first half (H1) ended 30 June 2025. KIB Group achieved net profit attributable to shareholders amounting to KD 14.8 million, compared to KD 12 million in H1 2024, reflecting a growth of 23%. Earnings per share (EPS) stood at 7.11 fils, compared to 5.70 fils for the same period last year. Total operating income was almost KD 46.3 million, registering a growth of 10% compared to the first half of 2024. Commenting on the latest financial results, Al-Jarrah emphasized that this outstanding performance marks a starting point towards achieving the Bank's ambitious goals under its new five-year strategy, which aims to strengthen its position in the banking sector through continued innovation in services and products, expansion of the operational base, and a focus on delivering added value to both shareholders and also affirmed that KIB is focused on developing digital banking solutions to provide customers with a seamless and innovative banking experience. This goes hand in hand with expanding the customer base and targeting new segments, while placing emphasis on sustainability and social responsibility as integral components of the Bank's comprehensive growth strategy, ensuring strong and sustainable long-term the Bank's financial statements for the first half of 2025, Al-Jarrah stated that KIB's total assets grew by 20% to reach KD 4.19 billion, compared to KD 3.50 billion as of 30 June 2024. This growth was driven by an increase in the financing portfolio, which rose by 23% or KD 572 million as of end of June 2025 to reach KD 3.09 billion, compared to KD 2.52 billion for the same period of 2024. Meanwhile, its investment and high-quality Sukuk portfolio grew by KD 117 million, reaching almost KD 522 million as of end of June 2025, compared to KD 405 million as of 30 June Al-Jarrah stated that the Bank places strong emphasis on human capital by attracting and developing talent and grooming future leaders, in parallel with its firm commitment to social his part, Raed Jawad Bukhamseen, Vice Chairman and CEO of KIB, expressed his pride in KIB's performance during the first half of 2025, noting that the bank have strong capital base, and improvement in assets quality and profitability along with balanced growth in financing and deposits, reflecting successful implementation of the strategy and improvement in sustainable performance added that KIB is making strides in strengthening its institutional foundation and developing a more flexible business model that can adapt to market dynamics, ensuring an effective response to customer needs and ongoing developments in the banking sector. He emphasized that KIB places customer experience at the core of its priorities and plays an active role in delivering value by adopting a customer-centric approach and striving for operational excellence. He also noted that the Bank is intensifying its efforts to support the local and national economy, as well as the wider community, through strategic social responsibility initiatives grounded in inclusion and provided a detailed overview of the key financial results for the first half of 2025 compared to the same period of last year, where fees and commission income, reaching KD 9.3 million compared to KD 7.8 million in the previous period, reflecting a growth rate of 20%. The Bank also recorded an increase in investment income, reaching KD 2.9 million compared to KD 1.9 million in the previous period, reflecting a growth rate of 51%. This contributed to a rise in total operating income, which reached almost KD 46.3 million, marking a growth of 10%.Regarding the Bank's financial position, Bukhamseen said that KIB's customers' deposits grew by 34% to reach KD 2.84 billion as of 30 June 2025 compared to KD 2.12 billion as of 30 June 2024. In addition, the total shareholders equity grew 6% to reach KD 358 million as of 30 June 2025 compared to KD 336 million for the same period of last year. He noted that KIB continues to maintain high levels of total capital adequacy ratio, in accordance with Basel III instructions, of 21.96% at of 30 June a related context, Bukhamseen emphasized KIB's strong commitment to its social role, reaffirming its continued support for the 'Let's Be Aware' (Diraya) banking awareness campaign for the fifth consecutive year. This commitment to the initiative, launched by the Central Bank of Kuwait in collaboration with the Kuwait Banking Association and local banks, is an integral part of the Bank's strategy to foster a more financially aware and educated society, thereby contributing to economic stability and supporting comprehensive development efforts in Kuwait. In their concluding remarks, Al-Jarrah and Bukhamseen expressed their appreciation to the Central Bank of Kuwait for its exceptional regulatory and supervisory roles, as well as its consistent support. They also expressed their gratitude to the Capital Markets Authority for its supportive role in fostering an attractive and competitive investment environment in Kuwait. In addition, they praised the tireless efforts of all KIB teams, highlighting their contributions to achieving these results. They also expressed their profound appreciation to the Board of Directors and Executive Management for their ongoing support and wise guidance, which have been crucial in enhancing KIB's financial standing and meeting all environmental, social, and corporate governance (ESG) requirements.
Zawya
23-07-2025
- Business
- Zawya
KIB Group reports net profit of KD 14.8mln for H1 of 2025
Kuwait: Sheikh Mohammed Jarrah Al-Sabah, Chairman of Kuwait International Bank (KIB), announced the Group's financial results for the first half (H1) ended 30 June 2025. KIB Group achieved net profit attributable to shareholders amounting to KD 14.8 million, compared to KD 12 million in H1 2024, reflecting a growth of 23%. Earnings per share (EPS) stood at 7.11 fils, compared to 5.70 fils for the same period last year. Total operating income was almost KD 46.3 million, registering a growth of 10% compared to the first half of 2024. Commenting on the latest financial results, Al-Jarrah emphasized that this outstanding performance marks a starting point towards achieving the Bank's ambitious goals under its new five-year strategy, which aims to strengthen its position in the banking sector through continued innovation in services and products, expansion of the operational base, and a focus on delivering added value to both shareholders and customers. Al-Jarrah also affirmed that KIB is focused on developing digital banking solutions to provide customers with a seamless and innovative banking experience. This goes hand in hand with expanding the customer base and targeting new segments, while placing emphasis on sustainability and social responsibility as integral components of the Bank's comprehensive growth strategy, ensuring strong and sustainable long-term returns. Regarding the Bank's financial statements for the first half of 2025, Al-Jarrah stated that KIB's total assets grew by 20% to reach KD 4.19 billion, compared to KD 3.50 billion as of 30 June 2024. This growth was driven by an increase in the financing portfolio, which rose by 23% or KD 572 million as of end of June 2025 to reach KD 3.09 billion, compared to KD 2.52 billion for the same period of 2024. Meanwhile, its investment and high-quality Sukuk portfolio grew by KD 117 million, reaching almost KD 522 million as of end of June 2025, compared to KD 405 million as of 30 June 2024. Moreover, Al-Jarrah stated that the Bank places strong emphasis on human capital by attracting and developing talent and grooming future leaders, in parallel with its firm commitment to social responsibility. On his part, Raed Jawad Bukhamseen, Vice Chairman and CEO of KIB, expressed his pride in KIB's performance during the first half of 2025, noting that the bank have strong capital base, and improvement in assets quality and profitability along with balanced growth in financing and deposits, reflecting successful implementation of the strategy and improvement in sustainable performance indicators. He added that KIB is making strides in strengthening its institutional foundation and developing a more flexible business model that can adapt to market dynamics, ensuring an effective response to customer needs and ongoing developments in the banking sector. He emphasized that KIB places customer experience at the core of its priorities and plays an active role in delivering value by adopting a customer-centric approach and striving for operational excellence. He also noted that the Bank is intensifying its efforts to support the local and national economy, as well as the wider community, through strategic social responsibility initiatives grounded in inclusion and sustainability. Bukhamseen provided a detailed overview of the key financial results for the first half of 2025 compared to the same period of last year, where fees and commission income, reaching KD 9.3 million compared to KD 7.8 million in the previous period, reflecting a growth rate of 20%. The Bank also recorded an increase in investment income, reaching KD 2.9 million compared to KD 1.9 million in the previous period, reflecting a growth rate of 51%. This contributed to a rise in total operating income, which reached almost KD 46.3 million, marking a growth of 10%. Regarding the Bank's financial position, Bukhamseen said that KIB's customers' deposits grew by 34% to reach KD 2.84 billion as of 30 June 2025 compared to KD 2.12 billion as of 30 June 2024. In addition, the total shareholders equity grew 6% to reach KD 358 million as of 30 June 2025 compared to KD 336 million for the same period of last year. He noted that KIB continues to maintain high levels of total capital adequacy ratio, in accordance with Basel III instructions, of 21.96% at of 30 June 2025. In a related context, Bukhamseen emphasized KIB's strong commitment to its social role, reaffirming its continued support for the 'Let's Be Aware' (Diraya) banking awareness campaign for the fifth consecutive year. This commitment to the initiative, launched by the Central Bank of Kuwait in collaboration with the Kuwait Banking Association and local banks, is an integral part of the Bank's strategy to foster a more financially aware and educated society, thereby contributing to economic stability and supporting comprehensive development efforts in Kuwait. In their concluding remarks, Al-Jarrah and Bukhamseen expressed their appreciation to the Central Bank of Kuwait for its exceptional regulatory and supervisory roles, as well as its consistent support. They also expressed their gratitude to the Capital Markets Authority for its supportive role in fostering an attractive and competitive investment environment in Kuwait. In addition, they praised the tireless efforts of all KIB teams, highlighting their contributions to achieving these results. They also expressed their profound appreciation to the Board of Directors and Executive Management for their ongoing support and wise guidance, which have been crucial in enhancing KIB's financial standing and meeting all environmental, social, and corporate governance (ESG) requirements. About KIB Kuwait International Bank (KIB) is a bank that operates according to the Islamic Shari'ah, based in the State of Kuwait. Incorporated in 1973, and originally known as Kuwait Real Estate Bank, KIB made the transition to its current Islamic operating model in 2007. In 2018, KIB embarked on a new phase of its journey full of innovation and development. As part of its new strategic direction, the Bank focuses on offering a next-level customer experience under the slogan: 'Bank for Life'. Through a network of branches spread across the State of Kuwait, KIB offers a broad range of banking products and services, as well as innovative digital banking solutions in line with international best standards. As part of its duty towards the community, the Bank also encompasses a leading social responsibility program that aims at positively impacting all members of the community through a wide range of impactful initiatives and activities. Today, KIB has taken concrete steps in implementing its new strategic objectives. The Bank has cemented its role as a key player in the local banking industry and has continued to maintain its strong financial performance; enabling it to be globally recognized for its strong credit rating and financial position.
