AWSAT

You must visit the company headquarters, customer service department, fill out the account opening form, and attach the required documents. The customer service employee will review the application to ensure that all documents are completed, and then the account will be created, and an account number issued for you. The electronic system then sends a message to the email specified by you, including the user ID and account number.

You can access your account through the following methods using the username and password that you installed when applying to open the account:

• From the Apple Store: https://apps.apple.com/kw/app/awsat-trader-gtn/id1407595428
• From Play Store for Android https://play.google.com/store/apps/details?id=com.gtn.kmefic

You can fund your online account in one of the following ways:

• Financing by transfer from your bank account:

  This is done by transferring amounts from your bank account to one of the company’s accounts, with the need to send a transfer notice that includes your name and electronic account number to the customer service department. Note that cash amounts cannot be deposited directly into the company’s accounts.

• Financing through KNET:
  You can finance your electronic account through KNET by accessing the website or smart application (mentioned in the previous point) and from the banking services menu, choose to finance the wallet with KNET and enter the required data.

• Financing by issuing a check:

  The check is issued in the name of the Kuwait and Middle East Financial Investment Company – Clients or by depositing it in one of the company’s bank accounts, with the need to send a copy of the check and the deposit receipt to the customer service department, noting that collecting local checks takes 3 working days.

The minimum amount to activate a trading account is 1,000 Kuwaiti dinars or the equivalent value of shares.

You can review your account data and details through the trading account menu, then choose the portfolio, and your portfolio data will appear with its contents. You can also view the report of unrealized profits and losses, closed positions, and all the transactions that you performed during the period you wish to view, by following the following steps:

• Enter your username and password to access the account.
• Choose a trading account and then choose a wallet.
• Choose the account statement at the bottom of the page and then choose the list type (cash/wallet).

KMEFIC receives on your behalf the cash dividends and bonus shares distributed by the companies in which you own shares in all financial markets, and these dividends and bonus shares are deposited directly into your electronic trading account.

You can change the trading code or password by clicking on the user options icon at the bottom of the page and then choosing Change password or trading password.

If you lose your password, you can get it by following any of the following options:

–    First choice:

By clicking on the link “Forgot your password?” And follow the necessary steps.

–    Second choice:

Contact the telephone service department on phone number 0096522255555 and inform them of the matter. The employee will request that a new password be created for you and it will be sent through the system to your email address registered with us.

You can cancel the request to issue a check by sending a written letter signed by you or by the person authorized to sign, mentioning the wallet account number and the required amount. The letter is sent to fax number 0096522252564 or to the customer service department via email customerservice@kmefic.com.kw

 If the client requests to transfer funds from his electronic trading account to his bank account before 10:00 am during official business days, the amount will be received on the same day.

If the customer requests to transfer funds from his electronic wallet account to his bank account after 10:00 am during official business hours, the amount will be received the next day.

You can enter the order through the trading platform screen after selecting the desired company and filling out the required data correctly. The buy or sell order you enter will be subject to various restrictions on the order type and must primarily include the following elements:

– Transaction type (buy or sell)

– Company symbol

– Quantity

– Type of order (limit, stop, stop limit…etc.) with the necessary details for each

– Duration (today – valid to date…etc.) with the necessary details, which will include the number of days for which the order will be valid in the case of (valid to date orders)

You are then asked to review the order and enter your trading code. After matching your trading code and the cash balance available in the wallet, the system will send the order to the market electronically through the broker approved by KMEFIC. In the event that the cash balance is not available to buy or sell shares in your account, the system will display an error signal and stop the process.

You will be able to follow the status of your orders through the trading account menu and then choose the orders. The order status table in the trading menu on the website will allow you to follow the current status of the executed orders (fully or partially), unexecuted, existing, canceled, and entered by you. The table will display the details of the entered order, through which you can cancel or modify the orders electronically.

  The order status can be any of the following:

– Pending order: It is an order that has passed all matching requirements but its receipt has not been acknowledged by the broker.

– Active order: An order whose receipt is acknowledged but has not yet been executed.

– Executed order: The order that has been fully executed.

– Canceled order: The order that is completely cancelled

– Pending canceled order: A cancellation request that was sent to the broker but the broker did not acknowledge its receipt.

– Partially executed order: An order that is partially traded while the rest of the quantity is still outstanding until the market closes or the order expires.

– Canceled executed order: The order was partially traded and the rest of the quantity was cancelled.

– Rejected order: The order rejected by the broker.

1. The application form for depositing a share certificate must be signed.
2. A copy of the civil ID must be submitted

• The transfer of shares must be in the name of the client who owns the portfolio, as a basic condition for accepting the transfer of ownership in accordance with the instructions and laws of the regulatory authorities.
• A request form for withdrawing a share certificate must be signed.
• A copy of the civil ID must be submitted.

To find out the fees applied to KMEFIC, contact customer service on phone number 22255555 or email customerservice@kmefic.com

KMEFIC Bank Accounts

AWSAT GTN applications uses robust data security and storage measures to guard against illegal access to customer trading accounts and misuse of customer personal data.

• AWSAT has strong encryption standards and key management controls are in place, i.e., asymmetric encryption – RSA/ECB/PKCS1Padding has been implemented in encryption and decryption of external customer’s requests and response to secure transmission of sensitive data through APIs.
• Cloudflare’s cloud-based managed Web Application Firewall (WAF) is used to protect our web application by filtering and monitoring HTTP traffic over Internet.
• All communications at transit external are done via TLS v1.2 and above encrypted channels and insecure ciphers are being disabled.
• All data is stored utilizing Advanced Encryption Standard (AES) in Galois Counter Mode (GCM) with 256-bit keys, an industry standard for secure encryption. Other infrastructure resources, such as EC2 volumes, S3 buckets, etc., are also encrypted as per the cloud vendor-provided encryption protocols and algorithms.
• Periodic assessment by external cybersecurity firms, employing machine learning tools to fortify web applications against ever evolving security vulnerabilities and challenges.
• Multi-factor authentication (MFA) is supported including face recognition and fingerprint for mobile applications.
• The customer has to login into their trading application as well as provide their secure transaction password for completing any real transaction – orders, fund withdrawals etc.
• AWSAT supports idle session timeout. The default idle timeout is 30 minutes after which customer has to re-login on their application.