Al Tamwil House Launches 'Zafafi' Product to Support Youth and Ease Wedding Costs

In line with its commitment to providing more innovative banking solutions that align with customers’ aspirations and market needs, and to enhance its competitiveness, Kuwait Finance House (KFH) is launching the “Zafafi” product, which stands out as one of the most accessible financing solutions, offered with flexible terms and special, distinctive profit rates. The product aims to facilitate marriage-related requirements and promote family stability.

Abdulaziz Al-Saeed, Executive Director of Individual Financing Products at KFH, emphasized that the introduction of “Zafafi” represents a qualitative leap that enriches the bank’s products and services designed to support young people, meet their aspirations, and encourage them to marry and build families. This initiative aligns with the noble teachings of Islamic Sharia, which encourage marriage, and supports the state’s direction toward building a cohesive family-oriented society.

Al-Saeed clarified that “Zafafi” is among the best consumer financing products offered to newly married men and women who are KFH customers, aiming to help them finance their needs for (furniture, electrical appliances, cars, and other consumer goods) through accessible financing with flexible terms and special, distinctive profit rates.

He added that through the “Zafafi” product, newly married couples, either jointly or individually, can apply to KFH for consumer financing to cover their needs up to 25 times their net salary, with a maximum limit of 25,000 Kuwaiti Dinars over a period of five years.

Al-Saeed noted that KFH grants “Zafafi” customers a grace period of up to six months from the date of financing disbursement before the first installment becomes due, aiming to ease the burden on customers. This is in addition to an installment deferral service that allows customers to defer one installment per year, providing flexibility to choose which month to skip each year during the financing period, according to the customer’s personal needs and circumstances.

Al-Saeed confirmed that KFH offers special promotions to “Zafafi” customers in collaboration with a select group of local market suppliers, featuring the best and most up-to-date consumer goods, along with various offers and discounts.

He explained that newly married KFH customers seeking accessible financing through “Zafafi” can apply through KFH branches across Kuwait, or submit their financing applications via KFH Online.

Al-Saeed highlighted KFH’s commitment to supporting financial inclusion and its pioneering role in providing advanced banking solutions and services to various segments, particularly young people, for whom KFH offers a suite of services and products tailored to meet their diverse needs.