Home News “KFH” introduces “WAVE & Transfer” for the first time in Kuwait and the Region

“KFH” introduces “WAVE & Transfer” for the first time in Kuwait and the Region


Kuwait Finance House ( KFH ) today announced the launch of “WAVE & Transfer” Service, a 1st of its kind innovative service for iPhone and Android users in Kuwait and the region.

Corporate Finance

This new service awards Al-Ousra prepaid card holders the advantage to transfer money to their beloved ones via mobile devices easily, safely and instantly by a state-of-the-art technology.

Mohamed Nasser Al-Fawzan, Chief Retail Banking Officer at Kuwait Finance House ( KFH ), said “This new service is a step beyond the typical traditional way of transferring money and maintain KFH’s momentum in providing its customers with the latest technologies to award them a unique banking experience”, noting that this service is in compliance with the highest and most advanced levels of service and international safety and quality standards.

Al-Fawzan explained: “Al-Ousra prepaid card holders have one main card and up to six related prepaid sub-cards where the main card holder will be able to transfer funds to the related cards accounts, owners of which do not necessarily need to have accounts at KFH , thus granting the main card holder the ability to issue cards in the names of the children and spouse, besides other local and international benefits”.

Moreover, Al-Fawzan elucidated that Wave and Transfer Process Steps are easy, where Al-Ousra Prepaid card primary holder should sign-in to KFH Online application and then choose “Wave & Transfer” service among the services list. Secondly, the Supplementary device should only open KFHOnline Application and chooses WAVE option from the main page. Thirdly, both devices should also be waved simultaneously within a range of 3 meters in order to let the primary device detect the supplementary device. And fourthly, the primary cardholder should then register & assign the supplementary cardholder device to his prepaid account for the 1st time only.

Meanwhile, Majeed Hujair, Visa CEMEA General Manager Kuwait-Bahrain said: “Visa is delighted to announce our partnership with Kuwait Finance House to ensure Al-Ousra prepaid card holders receive the additional value from their prepaid cards. This new innovative solution promises prepaid cardholders an advanced range of benefits and features that meet the ever changing needs of customers”.

It is worthy to mention that “WAVE & Transfer” service is a part of several innovative applications launched by ” KFH ” under the umbrella of ” KFH ” online services.


Kuwait Finance House ( KFH )
KFH was established in Kuwait in 1977 and is enlisted in the Kuwait Stock Exchange. KFH Group is a global pioneer in the field of Islamic banking services, where it offers a wide array of Islamic products and services, not to mention a high standard of innovation and client service.

KFH manages its operations in the GCC, Asia, and Europe through over 310 branches, includingKFH -Turkey, in order to offer services for the bank’s clients in Turkey, Malaysia, Saudi Arabia, Bahrain, Australia, Jordan, Dubai, and Manheim in Germany.

KFH ‘s mission is to achieve highest levels of excellence and innovation in the field of client service, while developing common interest for all those concerned with the financial institution. KFH ‘s vision is to spearhead the global development in Islamic financial services, and to upgrade the bank into the level of becoming the most sustainable profitable Islamic bank in the world.

KFH ‘s values include cementing leadership through all its businesses, including leadership in the Islamic banking services worldwide, through innovation and in client service and the development of its employees. In addition, KFH is committed to all its procedures, and to setting up long-life partnerships with the concerned authorities.



Source – www.zawya.com

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