Al Ahli Bank 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) has launched the “Zafafi” product, one of the most accessible financing solutions offered with flexible terms and special, distinctive profit rates, aimed at facilitating marriage-related requirements and promoting 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 newlywed men and women who are KFH customers, aiming to help them finance their needs (such as 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, newlyweds—either the husband, the wife, or both—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 receiving financing before the first installment becomes due, aiming to ease the burden on customers. This is in addition to the installment deferral service, which allows customers to defer one installment per year, providing flexibility to change the month to skip payment 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 latest consumer goods, along with various discounts and offers.

He explained that newlywed KFH customers wishing to obtain accessible financing through the “Zafafi” product can apply at 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.