How to open a bank account in Kuwait Financial House

GSL reference about the bank What is it?

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GSL rating

Beginning of cooperation

May, 2023

Last contact

February, 2026

Last update

February, 2026

founded in 1977 in Kuwait, it has been present in Bahrain since 2002;
the bank opens savings (deposit) and settlement accounts;
the bank opens accounts only for mainland companies registered in Bahrain, and personal accounts also only for Bahrain residents;
for a foreign company to open an account, it needs to have a branch in Bahrain;
the minimum balance for a corporate account is BHD 100* (~ USD 265), and for a personal account – BHD 20* (~ USD 53) per month;
the required initial deposit is BHD 1 000 (~ USD 2 650);
the founders and account signatory are required to personally visit Bahrain for account opening;
main available currencies: BHD, USD, EUR; but it is necessary to open an account in local currency first;
the bank issues bank cards (a corporate card can only be issued if the company has 1 shareholder) and cheque books;
pre-approval can be applied for before proceeding with the account opening;
fee for a transfer to a foreign bank is ~ BHD 3,3* (~ USD 9);
Internet banking in English;
account opening time: about 1 – 2 weeks.

*Rates are approximate as they may eventually vary depending on the service program chosen by the client in the bank

GSL rating

Beginning of cooperation

May, 2023

Last contact

February, 2026

Last update

February, 2026

Поиск консультанта...

+44 0 207 822 85 93

General information and rating

Not rated

Global rating

Not rated

Countrywide rating

—

Countrywide rating of the head bank

—

Global rating of the head bank

Year of foundation

2002

History

KFH is the first Islamic bank founded in 1977 in the State of Kuwait and today it is one of the leading Islamic financial institutions in the world.

The bank is listed on the Kuwait Stock Exchange (KSE) and the Bahrain Stock Exchange.

It is available in Kuwait, Bahrain, Saudi Arabia, UAE, Turkey, Malaysia, Germany, Britain, Egypt, Iraq, Oman and Libya.

Kuwait Finance House (Bahrain) is a leading provider of Islamic commercial and investment banking services. Established in January 2002 as a subsidiary of Kuwait Financial House (Kuwait). In August 2024, it was bought by ASB Finance, but the bank is still working under its own brand

Personnel

There are English-speaking staff

Bank’s shareholders

Bank Muscat SAOG (Investment Management) - 14,74%; Muscat Overseas Co. LLC - 7,325%; Overseas Investment SPC - 6,379%; Sayacorp B S C - 6,277%; AL SALAM BANK B.S.C. - 5,675% etc..

Confidentiality

AML legislation is strictly observed

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Minimum requirements

760

Minimum balance, €

No restrictions

Transactions permitted per month

2 455

Initial deposit of funds, €

1

Deadline for the initial deposit, month

Minimum balance, €

The minimum balance for a corporate account is BHD 300* (~ USD 796), and for a personal account – BHD 20* (~ USD 53) per month

Transactions permitted per month

No limit on the number of transfers

Initial deposit of funds, €

Initial deposit required - BHD 1 000 (~ USD 2 650)

Deadline for the initial deposit, month

Immediately after opening an account

Minimum turnover, €/year

No turnover limit

How fast payments are executed

Same day or next day

Tariffs and services

14

Outcoming transfer, €

0

Incoming transfer, €

N/A

Account maintenance, €/year

N/A

Payment limit for credit cards, €/day

Outcoming transfer, €

Transfer fee to foreign bank is ~ BHD 5,5 (~ USD 15)

Incoming transfer, €

The bank does not charge for incoming payments

Distant access to the account

Internet banking in English

Financial products

KFH provides a wide range of Shariah-compliant banking products and services covering real estate, trade finance, investment portfolios, commercial, retail and corporate banking

Credit/debit cards

Bank cards (corporate cards are issued only if the company has 1 shareholder) and chequebooks are available

Account opening procedure

Days to open for incoming transfers

Case by case

Days to open for outcoming transfers

Case by case

References

Not necessary

Purpose of the account

Savings & current

Visit to the bank

Personal visit of the founders and account signatory to Bahrain is required to open the account

Required

For a legal entity:

- Memorandum and Articles of Association;
- Company Registration;
- Resolution for account opening, specifying the signatory to the account;
- Completed bank application forms for the company and the owner;
- Copies of existing contracts with counterparties;
- Office lease agreements, cash flow chart, ownership structure chart, etc.

For an individual (directors / shareholders / beneficial owners / attorneys):

- Proof of ID (passport) and CPR / ID card;
- Proof of address not older than 3 months;
- Bank reference letter and account statements for the last 6 months.

The list is not exhaustive. The bank may request any further documents and information

Types of accounts

Savings; Current

Chances to open an account

Predictable

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