Commercial Facilities Company (CFC)

Description: Commercial Facilities Company (CFC) was established in 1977 as the first Kuwaiti closed shareholding company specialized in providing installment credit facilities to finance consumer and commercial products.

Country: Kuwait

Products / Services: The main services provided by CFC are:

Financing new and used cars
Financing boats and marine equipment
Financing furniture and electrical appliances
Financing basic construction materials
Granting personal cash loans
Granting Commercial loans
CFC was later listed in Kuwait Stock Exchange in 1982. CFC was also chosen to be one of the first companies in the Kuwaiti government's privatization program. In September 1994, the Kuwait Investment Authority sold 47% of the company's issued shares to the private sector.

During 40 years of operation, the CFC successfully amplified its consumer loans portfolio achieving 301.3 million KD (998.7 million US dollars) as of 31/12/2017.