Kuwait International Bank helps to spread Islamic banking across Kuwait

Kuwait International Bank (KIB) in 1973 started out as a specialised bank in real estate under the name of Kuwait Real Estate Bank. KIB later helped with the constructional evolution of the country and has since expanded to other areas of the economy. In 2007, KIB converted into a fully-fledged bank operating under Islamic sharia provisions and changed its name. KIB sees the drop in oil prices as an opportunity to expedite the implementation of fiscal reform, in order to mitigate pressures on government budget and diversify the sources of income. Doing so will push forward the wheel of economic development and maintain a sustainable economy in the long run.