KFH announces distributions for foreign currency deposits for last Q in 2008

The quarterly Trio Deposit in Kuwaiti dinars distributes 3%, which is considered to be a competitive return, compared to what is offered in the market. Distributions on foreign currencies, such as USD, Sterling Pound, and Euro were competitive. He went on to say that the longer the investment period, the higher the returns, where KFH offers its clients a bouquet to invest their money over time frames that vary from one week to a year, which serves individual investors and corporations to increase their money and achieve the best returns for it.

Moreover, Al-Roshoud added that KFH has sufficient liquidity and financial strength, in addition to possessing numerous power sources and various income flows. This is the result of the careful steps and the efficient investment policy that were taken while working in regional and global markets, which allowed KFH to face the negative effects of the global turmoil.

Regarding the turbulence occurring in the global currency markets, Al-Roshoud explained that keeping the Kuwaiti dinar is one of the investment tools, since its rate and returns are high, although some prefer to diversify their investments and possess savings of various currencies. He stressed that the success accomplished in the monetary policy in light of the instructions and decisions of the Central Bank of Kuwait (CBK) will be cemented by the commitment and cooperation of all parties.

Furthermore, Al-Roshoud praised during a press release on the occasion of announcing the distributions on foreign currency deposits, which are the USD, Sterling Pound, and Euro for the 4th Q of 2008, the CBK's policy in maintaining the discount rate at its current rate, which is a wise policy, especially during the global turmoil. He expressed his hope that the CBK would not attempt to make a big drop to the current 3.75% discount rate, since this drop might have a negative impact on the national economy on the medium and long terms. Al-Roshoud noted that the CBK manages the monetary policy according to an impeccable vision, in addition to the competency it demonstrates when managing the liquidity of other banks and during its regular meetings with the treasury managers in those banks.

Meanwhile, Al-Roshoud remarked that the main problem in the global markets now is the drop in the value of assets and the lack of trust and liquidity that it is witnessing, which will negatively impact the various economic sectors, in addition to making the matter more complicated.