Is a pre-eminent, India-focussed, money transfer/exchange Company
Established in 1979, it is the second oldest Exchange Company in Kuwait
Set up as a joint-venture (with equity participation and management contract) between State Bank of India (SBI) and the well-renowned Hamad Abdulla Al-Ateeqi Group of Companies
Regulatory changes by the Central Bank of Kuwait, over the years, has resulted in the Company being fully owned by the Kuwaiti Promoter Group, with the top management being by ex-SBI officials
The Company, built up by SBI, has robust systems/procedures/internal controls in place, is tech-driven, has corporate-governance standards and enjoys the reputation of a customer friendly, trustworthy, safe and sound institution.
Compliance before business/profits is the leitmotif of the Company, thus emerging as a responsible, top corporate citizen
The Company is perceived by the Indian diaspora, even today, as synonymous with SBI
Since inception, over 30 million customers, have been served by the Company
Has correspondent relations with SBI, SBT, SBH, SBBJ, Yes Bank, HDFC Bank, BDO, Bank of Ceylon and many other banks
Provides electronic products, in all major currencies
Offers Western Union Money Transfer Services, SBI Flash to SBI A/cs., HDFC A/cs., Nepal Remit, Prabhu Money services
Transfer of monies to India within minutes (SBI Express Remit), and on the same day/next day to any branch of any bank anywhere in India: RTGS, NEFT
NRIs draw heavily on the knowledge/experience/expertise/networking abilities of the Company Executives (ex-SBI) in the areas of NRI rules/regulations, taxation, savings, investments and so on. Besides money exchange, Kuwait India plays the vital role of an information exchange, knowledge exchange and an intellectual exchange.
The Company’s business philosophy and focus is on relationship-building rather than mere transaction-focus.
Truly, Customers’ Trust is Kuwait India’s Pre-eminence