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Be a customer

KMEFIC was incorporated in 1984 as a private investment and portfolio management company, and was listed on the Kuwait Stock Exchange in 1997. The company specializes in the management and advisory services of the public and private equity in the local and international financial markets, in addition to developing various investment products. To learn more on KMEFIC, visit http://www.kmefic.com.kw.
 
The Products and Services provided by KMEFIC are:
  • Investment Products

The customers are the privileged users of the KMEFIC site having access to all the services that are being provided online. A visitor or a registered member of the site can become a customer of the site by completing the account opening formalities. They would then have a trading account with KMEFIC, which they can access using a user ID and password. 

A customer can open an account to trade on both or either of the stock markets.

  • US Stock Markets
  • Kuwait Stock Exchange

The user can use the same user ID and password to trade on both the markets in case he opens an account to trade on both stock exchanges. If he has opened a trading account to trade on only one of the markets, he will automatically have the privileges of a registered member on the other stock exchange with the same user ID and password.

In case of opening an account to trade on Kuwait Stock Exchange the user will have the option of the following account types at KSE: -

Option 1: Use a KMEFIC omnibus account at KCC. KMEFIC will assign a brokerage agency to each investor by assigning all cooperating brokerage agencies in order. 

The brokerage agency that is selected by the investor or assigned by the system can be modified by admin staff prior to the confirmation of account opening by the KMEFIC supervisor. After an account is opened also, the assigned brokerage firm can be changed.

Option 2: Use his existing account at KCC. The investor will enter his KCC investor number and select the KSE broker through which he wishes to trade from a list of brokerage firms who agree to cooperate with KMEFIC. If the investor does not yet have a relationship with any of the KMEFIC approved brokerage firms, the investor may choose not to specify a brokerage firm and let KMEFIC assign a brokerage firm to him. 

The brokerage agency that is selected by the investor or assigned by the system can be modified by admin staff prior to the confirmation of account opening by the KMEFIC supervisor. After an account is opened also, the assigned brokerage firm can be changed.

Option 3: Ask KMEFIC to assist in opening a new KCC account in his name. The investor enters no KCC investor number and may optionally select a brokerage firm from the list of firms cooperating with KMEFIC. If the investor does not yet have a relationship with any of the KMEFIC approved brokerage firms, the investor may choose not to specify a brokerage firm and let KMEFIC assign a brokerage firm to him.

The KMEFIC supervisor cannot confirm the account opening until an investor number is assigned by KCC and entered into the account application of the KMEFIC system.

The brokerage agency that is selected by the investor or assigned by the system can be modified by admin staff prior to the confirmation of account opening by the KMEFIC supervisor. After an account is opened also, the assigned brokerage firm can be changed.

The different kinds of customer accounts that can be opened are:

Individual account
The visitor or a registered user can open an individual account with KMEFIC. The account holder cannot be a minor in this case. Following things are mandatory for an individual account:

  • Valid passport (for non-Kuwaiti citizens) or Civil id (for Kuwaiti citizens and Kuwaiti residents)
  • Mailing Address
  • E-mail id
  • Bank account USD (for trading on US markets)
  • Bank account KD (for trading on KSE)

Joint account
The visitor or a registered user can open a joint account with KMEFIC. The joint account would be owned by two people (primary applicant and co-applicant). They would trade using the same account. Both account holders will sign the Agreement. Following things are mandatory for joint account holders:

  • Valid passport (for non-Kuwaiti citizens) or Civil id (for Kuwaiti citizens and Kuwaiti residents) for both the primary and secondary user
  • Mailing Address of primary member
  • Email Id of primary member
  • Bank account USD (for trading on US markets)
  • Bank account KD (for trading on KSE)

Custodian account

The visitor or a registered user can open a custodian account with KMEFIC. This account would be owned and operated by a Custodian (guardian) on behalf of a Beneficiary (minor). The Custodian would sign the Agreement. The following is mandatory for custodian account holders:
  • Valid passport (for non-Kuwaiti citizens) or Civil id (for Kuwaiti citizens and Kuwaiti residents) for both the custodian and the beneficiary.
  • Mailing Address of custodian.
  • Email Id of the custodian.
  • Bank account USD (for trading on US markets)
  • Bank account KD (for trading on KSE)
  • Relationship between the beneficiary and custodian.
Corporate account
The visitor or a registered user can open a company account with KMEFIC. A corporate or an institution would own this kind of account. Companies interested in corporate accounts would fill on-line contact information after choosing the corporate account type from the account opening main page. KMEFIC staff will follow with such organization offline to get the process completed. Once account is opened, the corporate would be asked to provide a list of users, who can trade using this account on behalf of the company. The KMEFIC staff would create trading accounts with separate user IDs, on this basis.

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