CHAPTER 1
COMPANY BACKGROUND
1.1 HISTORY
Kuwait Finance House – Bahrain it’s a %100 an Islamic bank that are leading to provide an Islamic and commercial investment banking services. Kuwait Finance House – Bahrain established in January 2002 and its wholly owned subsidiary of Kuwait Finance house - Kuwait . they are an industry leader for more than 30 years and with total assets of KD 3.915 Billions. While the total assets of KFH- Bahrain is BD 291 Million . also , they are specializes in conceptualizing the development and introduction of innovation , plus providing the sharia 'a compliant banking and investment products . all of these services are delivered by the most high qualified experienced and dedicated professionals that are empowered to think innovatively and act strategically .
PICTURE 1
KFH BUILDING
KFH – BAHRAIN provides a various type of banking services such as ; consuming banking , investment saving account , auto finance and so many services will be mentioned later.
1.2 VISION
Our believes at Kuwait Finance House – Bahrain that’s not only about money and how to gain high profit, it's about how to help and to improves the people lives by providing them with the Islamic banking services that scope with their religious persuasion. we provide leading edge Islamic banking solutions that truly enhance their lives whilst staying faithful to shari'a principles.
1.3 MISSION
Missions of Kuwait Finance House - Bahrain is to develop the Islamic banking services provided to investors, achieve new heights by focusing on the development of Islamic banking services and to provide a comprehensive range of products and services that are in perfect harmony with the principles of Islamic law....
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...for both personal and none- personal accounts. 8 HOURS
WEDNESDAY 26TH FEB 2014 They showed me how to do the E-banking work. 8 HOURS
SATURDAY 1st MAR 2014 How to update the expired ids for the clients by updating the personal rim informations. 8 HOURS
SUNDAY 2ND MAR 2014 How to set up the clients signatures in the system. 8 HOURS
ACTIVITY 3
3RD MARCH TO 9TH MARCH 2014
DAY
DATE
DAILY ACCOMPLISHMENT
WORKING HOURS
MONDAY 3RDMar 2014 The procedures of issuing an ATM cards. 8 HOURS
TUESDAY 4th MAR 2014 How to verify the clients signatures with the stored ones in the bank system. 8 HOURS
WEDNESDAY 5TH MAR 2014 The formal letters that are required by the clients. 8 HOURS
SATURDAY 8TH MAR 2014 Steps for closing or breaking the fixed deposits TCDs. 8 HOURS
SUNDAY 9TH MAR 2014 The cancellation of the uncollected ATM cards and check books. 8 HOURS
Kuwait was a small country that had once been part of the Ottoman Empire like Iraq. Then Kuwait had become a British Protectorate from which it had been granted its independence. Its borders had been set in a subjective manner causing it to be difficult to de...
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The condition of the economy is highly associated with the buying poison of customers , in the economic , factors such as international trade , saving , entrepreneurship , interest rate , taxes , availability of jobs , inflation and subsidies are considered . As the average income of the individuals in Bahrain is few and the economic level of Bahrain is not very high , So Arab Open University is a non-profit university , its development project and it made it easier for individuals with limited income owner registration at the university due to the low process of materials compared to other private university . Also by virtue of that the university has many other branches in many countries , this thing proves its economy and served it as the financing is possible to get it out of the branch of Bahrain
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Nowadays, the technology are increases rapidly. The RBS also improving in their bank technology. As example. RBS created a website. This website may control the relationship between the bank and their customers. To make their relationship a good, the website will produce a forum or site to easy the customer to give their opinion, suggestion or to tell their problem that they having when using RBS bank account. As an international bank, it need to improve their products and services or technology in getting the customer stratifications. It also need to make customer trust to using RBS.
When I was a little girl, my grandma use to take care. Our schedule was simple. I’d come over before my mom went to work, we’d get a bowl of corn flakes (extra sugar), and turn on Sesame Street at 11am on PBS23. I was so amazed by all the colors and characters that I didn’t even realize that I had an extensive vocabulary for a child that hadn’t been to school yet. Cornflakes and Sesame became our thing.
The modern Islamic Finance industry is young, its timeline begin only a few decades ago. However, islamic finance is involving rapidly and continues to expend to serve a growing population of muslims as well as conventional.
Business internships are helping students gain real world experience while they are not actually out in the real world yet. Internships are becoming more and more popular with college students in today’s world. An internship is basically when a student in college goes to a company or business and works while they are still enrolled in school and still getting academic credit. The main purpose of the internship is for the student to gain valuable on the job work experience. But there are also other things that a student can get from internships. Internships help the student decide whether or not this line of work is correct for them. Since the student works in an occupation in which they are highly interested in it really helps them get a bigger picture of the outside world.
The Baitulmal can categories by wealth management. Wealth management is an important aspect in Islam. If we do not know the owner of the wealth, we must manage it in the best way as we can. This is because wealth management is closely related with individual and society welfare. The success economies in Malaysia not just arise on how income and expenditure level, but also relies on how wealth or properties manage. That’s why the wealth management must to do the best way.
As the world has recently passed through the global financial crisis that begun in 2008 in the USA with the banks’ collapsing, analysts are giving different opinions and making new economic hypothesizes about the origin of, as well as the process of different countries escaped from the crisis. Among all these new “theories”, the case of Islamic banks is interesting in terms of its nature and consequences. In my essay, I will try to highlight the basic principles of the Islamic finance, the reasons of the restriction of interest, the most important tools used by Islamic banks in economic activities and brief explanation of them, and finally my view point of the probable future improvement of the Islamic financial system.
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Next, Islamic banking also are misinterpret as not profitable as it forbidden riba’ in its practices. Also, we need to aware the customers that Islamic banking not just an alternative for finacial approach, but it also provides better value to the customers.
The Islamic market is being very profitable, but the effectiveness of the operations has been relatively limited due to lack of development of the business unit due to the short existence of the moderm history.