Al Mada

How To Subscribe And Redeem

You are able to print the applications of subscription and redemption from the website and submit them along with a copy of the required documents via email CRM@nic.com.kw 

Or you can visit the company with the required documents at the following address.

Application Forms

• In case of first time subscription (a new client) please download and print the KYC/CRS/FATCA forms and kindly fill out all required information including signature. Download  (Individuals - Entities)

• Subscription Form: please download, print and kindly fill out all required information including signature. Download

• Redemption Form: please download, print and kindly fill out all required information including signature. Download

Required identification 

Individuals 

• Kuwait Residents: 
  - Civil ID copy 
  - Passport copy 
  - Account No. and IBAN No. 
  - Copy of Authorized Signature from Bank (in case of submitting the application via email) 
  - Copy of the deposit receipt or transfer slip of subscription amount to the below mentioned       bank account (in case of subscription)

• Non-Kuwait Residents: 
  - Civil ID copy 
  - Passport copy 
  - Account No. and IBAN No. 
  - Copy of Authorized Signature from Bank (in case of submitting the application via email) 
  - Copy of the deposit receipt or transfer slip of subscription amount to the below mentioned      bank account (in case of subscription)

Companies 

Please attach a copy of the following according to the business type:

• Commercial License
• Commercial Registration
• Memorandum of Incorporation & Articles of Association with all amendments (if any)
• BOD certificate issued by the Ministry of Commerce & Industry along with identity documents (Civil ID & Passport).
• Certificate issued by the Ministry of Commerce & Industry according to the Authorized Signatories.
• BOD resolution regarding the approval of opening the account and granting authority to authorized signatories
• Authorized signatory list
• Instruction letter listing authorized personnel to manage the account along with identity documents (Civil ID & Passport)
• List of beneficial owners that hold 10% or more of the company’s shares except for listed companies in Boursa Kuwait, attaching the following: 
  - Individuals: Civil ID & Passport 
  - Entities: Commercial License, Commercial Registration, Memorandum of Incorporation 
  
• Copy of the deposit receipt or transfer slip of subscription amount to the below mentioned       bank account in case of subscription

For Foreign Companies outside Kuwait:

• Submitting an acknowledgement on behalf of its clients, that due diligence was performed.
• All company’s documents mentioned above are to be authenticated by: 
  - Issuing authorities and Kuwait Embassy or Consulate at the domicile country 
  - Kuwait Ministry of Foreign Affairs

In case there is a controlling person, official documents should be authenticated.

Government entities:

• Government entities must attach a copy of all documents required by its regulations and management articles.

In addition to a copy of check deposit slip or funds transfer confirmation (please see below for payment instructions).

Please allow 2 working days for confirmation of receipt of documents. If you do not receive a confirmation by the third working day please contact: NIC Client Services Department at +965 22266666 Ext. 6680 / 6739.

The deadline for subscription and redemption is the 15^th of every month. Where the 15^th falls on a weekend NIC will only consider those subscriptions or redemptions received on the working day immediately prior to the 15^th.

Payment Instructions For Wire Transfer

Beneficiary: AL MADA INVEST - NATIONAL INVESTMENTS FUND Co.

Bank Name: Ahli United Bank, Bahrain

Account Number: 0016-250381-001

IBAN No.: BH82 AUBB 0001 6250 3810 01

Swift Code: AUBBBHBM

Correspondent Bank: JP Morgan Chase Bank, N.A.
CHASUS33/4000937913

For Check Payment

In the name of: Al Mada Investment Fund