Award ceremony held during MEA International Finance Dialogue 2018

KUWAIT: Al-Ahli Bank of Kuwait (ABK), recently listed as one of the top 10 safest banks in the Middle East by Global Finance, was conferred the prestigious 'Achievement in Credit Risk Management in the Middle East and Africa' award by The Asian Banker. The award ceremony was held in conjunction with the Middle East & Africa International Finance Dialogue 2018 on 29th November in Dubai.

The award acknowledges ABK's Risk management expertise and recognizes the reinforcement of its Credit Risk Management department in order to pursue strategies that build long-term value. As a result of ABK's healthy capital position and credit strengths, which is fully aligned with the Central Bank of Kuwait's robust regulations, the Bank continues to maintain positive ratings on both Fitch and Moody's, receiving A+ and A2 ratings respectively.

Jamal Ahmad, Group Chief Risk Officer - ABK said, "Asset quality is one of the key success factors of a financial institution and hence Credit Risk management assumes increased importance, positioning it at the heart of decision making. We are delighted to be honored with the 'Achievement in Credit Risk Management in the Middle East and Africa' award by The Asian Banker, as it reflects our sound risk management practices. The award manifests the Group CEO's approach towards a balanced credit strategy and a prudent policy towards simplification of business activities and processes. It also reflects sound guidance from our Board Credit & Risk Committees, driving the credit decision-making, promoting the independence of the Risk Management function, and defining the bank's overall risk appetite through active engagement with Risk Management and Business lines."

The Asian Banker is one of Asia's leading consulting companies in financial services research, benchmarking and intelligence The Asian Banker Risk Management Awards is a landmark recognition program that identifies and benchmarks the best practices and achievements across a stringent set of criteria. ABK's risk management strategy and framework was carefully assessed against other banks by a panel of industry experts and judges prior to receiving the award.