"Bayt Al Tamwil" Launches "Zafafi" to Support Youth and Facilitate Wedding Costs
Kuwait Finance House launches Zafafi product, offering affordable consumer financing for newlyweds up to 25,000 KD
Translated by Qiyas from الجريدة — Original source
In 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, 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 expenses and strengthen 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 establish families, in line with the noble teachings of Islamic Sharia that promote marriage, and in support of the state’s efforts to build 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 this product, newlyweds—either the husband, the wife, or both—can apply to the bank for consumer financing to cover their needs up to 25 times their net salary, with a maximum limit of 25,000 Kuwaiti Dinars, repayable 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. Additionally, the product includes 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.
He confirmed that the bank offers special promotions to product 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.
Al-Saeed explained that newlywed bank customers wishing to obtain accessible financing through “Zafafi” can apply through KFH branches across Kuwait, or submit their financing applications via KFH Online.
He further highlighted the bank’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 range of services and products tailored to meet their diverse needs.
