The CEO of Kuwait Finance House (KFH) Group, Mohammed Sulaiman Al Omar, and the committee comprising of senior officials visited the Prime Minister of Malaysia, Dato' Seri Mohd Najib Tun Abdul Razak. During the visit paid in the previous days, the CEO of KFH and the Chairman of Kuveyt Turk Participation Bank, Mohammed Sulaiman Al Omar, and the Prime Minister of Malaysia discussed the investments to be made in that country in the coming periods. Having been put into service by KFH Group in 2005, Kuwait Finance House (Malaysia) Berhad (KFHMB) is the first bank authorized to practice Islamic banking in Malaysia. During the meeting, the world-class education institute which KFH plans to realize at the University in Medini Iskandar was handled as well.
Pursuant to the Vocational Regulation Decision of the Participation Banks Association of Turkey, one business day value date shall be implemented in opening participation accounts at our bank as of 02/04/2010. With the Vocational Regulation Decision of 28.10.2009, it was resolved to consider the first business day following the date of depositing money in participation accounts as the value date.
CEO of Kuveyt Turk Mr. Ufuk Uyan stated that the final stage in opening a gold participation account had been reached by Kuveyt Turk, which has a gold depository account, provides its customers with the opportunity to purchase and sell gold in grams on immaterial basis, has developed AltınCheque product as an alternative to quarter gold coin, renders the service of purchasing silver and platinum in grams. Indicating that, in the next week or ten days, it would be possible to open a gold account on immaterial basis by depositing TL or foreign exchange in exchange for minimum 10 grams of gold with a maturity period of 3 months, 6 months or one year, Mr. Uyan announced that material account opening would commence afterwards. Mr. Uyan indicated that within 3 months it would be possible not only to open an account with minimum 10 grams of gold marked by the Istanbul Gold Refinery but also to add these golds to the deposit account previously opened on immaterial basis and said that their negotiations to sign a protocol with the Istanbul Gold Refinery continued and they aimed at finalizing it in a short time. — WE AIM AT BRINGING MATTRESS GOLD IN THE ECONOMY"- Expressing that the profit of the deposit account would be offered to customers as gold or TL equivalent, Mr. Uyan said that they aimed at bringing mattress gold in the economy. Ufuk Uyan told "In the world and in Turkey, except for use as jewelry, 15-20% mattress gold is kept for investment purposes. It is indicated that the amount of gold used as jewelry and for investment purposes is equal to 5.000 tons in Turkey. By means of this account which we shall open to our customers, we may have a target of $100 millions for the first one year." Stating that they would organize a promotion campaign for the deposit participation account, Mr. Uyan explained that they performed studies on exporting or importing gold in the Istanbul Gold Exchange and studies with foreign gold refineries. Source: Anadolu Ajansı
Kuveyt Turk was placed on the top among participation banks thanks to an active growth of 49% in 2008. In the statement made by the Board of Directors of Kuveyt Turk, it is emphasized that, during these days when the global financial crisis has surrounded and shaken the world, Turkish Banking Sector has gone through the hoop and almost all of the banks have successively gotten over that period and proved that their success is sustainable. The statement indicates that as Kuveyt Turk it is pleasing to give such information about growth given the results of 2008 and continues "The stable growth in banking maintained by Kuveyt Turk with the motto of "Reliable Banking" increased by 31% in terms of branching in 2008. Number of employees increased by 25% and thus a significant contribution was made to employment. The increase in our total assets was 49%. Our equity increased by 76% and reached 685,679,000 TL. The funds collected reached 4,070,000,000 TL with an increase of 39%. At our bank, funds equal to 4,237,341,000 TL were made available and as of the end of 2008 our net profit increased by 40% to 104 million TL." Summarizing 2009 financial performance data of Kuveyt Turk, the statement says "Acting with the mission of banking, we improved ourself in all fields from retail banking to international banking and from enterprise banking to corporate banking by developing new and alternative products in banking services and performed well in 2008. We firmly believe that in 2009 we shall maintain our successful performance in terms of both profitability and growth and put this year to good use in the most productive manner. Our preparations for opening new branches continue at full speed. In the first six months of 2009, we shall open seven new branches and thus increase the total number of our branches to 120. We have obtained the necessary approvals from the Turkish and German authorities in order to transform our representative office located in Germany into a financial services branch. We would like to actively use our Germany branch within this year. Together with our Bahrain branch, which has achieved great success abroad in terms of branching, we shall put our Dubai branch into service and continue to use the opportunities in the Gulf region. This year, Kuveyt Turk celebrates its 20th anniversary. We shall continue our policy to maintain an understanding of banking which is open to continuous development, values knowledge and experience, is customer-focused by developing new products and services in line with customer expectations. While our Human Resources Policy and Quality Policy position us in banking in a different manner, we shall strengthen our vision of Reliable Banking with the financial breakthroughs we shall make. Accordingly, we shall reinforce this vision by investing in Branching, SME Banking, sustainable profitability and growth, employee and customer satisfaction, Human Resource and Technology and with new products."
With the new legal regulation, all of the workplace rents and the house rents exceeding 500 TL have started to be paid through banks. Make your payments through Kuveyt Turk. Benefit from the advantages of working with Kuveyt Turk. Thanks to Kuveyt Turk rent account, tenants and house and workplace owners effect their rent payments from our branches and do not pay any commission. As soon as the payment is transferred to their accounts, they receive an informative SMS. They do not pay any remittance fee by giving a regular remittance order on the Internet or from the branch. They may pay their rents either in TL or in foreign currency.
Dear Customer; As of December 31, 2008, the phrase “New” added to our currency shall be annulled and our currency shall return to its original and traditional name “Turkish Lira”. Paper and metallic moneys which shall be named "Turkish Lira " and "Kuruş" shall be put in circulation on January 1, 2009 with their renewed designs, modified sizes and improved security features. In line with transition to TL, we would like to warn you against the e-mails which may be sent to you for fraud by crime syndicates using the names of banks for the purpose of obtaining bank customers’ personal information and passwords. We would like to remind you not to reply such e-mails or click on the links or complete the forms in such e-mails and kindly request you to immediately inform our bank by calling our Call Center on 444 0 123 in the event you receive an e-mail using the name of "Kuveyt Turk". Respectively, KUVEYT TURK PARTICIPATION BANK INC.