KUWAIT: Kuwait Finance House (KFH) won three awards from Islamic Finance News Magazine (IFN), which are “Best Islamic Bank in Kuwait 2015”, “Kuwait Deal of the Year” for its participation in National Industries Holding KWD 85 million Commodity Murabaha where KFH’s share of the deal amounted to KD 25 Mn, and Turkey Deal of the Year related to the KT Kira Sertifikalari Varlik Kiralama RM800 million Sukuk Wakalah. Deputy General Manager Private Banking at KFH, Abdullah Al Mejhem stated on the sideline of receiving the awards in the awards ceremony held in Dubai, that KFH managed to offer an integrated system of technical, financial, and banking services, not to mention meeting the expectations of its clients. He added that the bank has vast experience in balancing Shariah requirements with the latest in banking technology.
He emphasized KFH’s leadership in the field of Islamic banking, since it was the first Islamic bank in Kuwait, and highlighted the bank’s fruitful efforts in expanding in various markets, which allowed it to become the best Islamic bank in the world. Al-Mejhem stressed the importance of operating as planned in all markets, while focusing on the local market, indicating that all of KFH’s global success would have never been attainable, if the bank did not have a solid platform and high level of professionalism.
KFH has an impeccable record in arranging sukuk deals and leading financing for development projects in several vital sectors, which contributes in boosting the national economy. It is noteworthy that KFH has been selected for the prizes by IFN’s judging panel that groups a number of experts in the Islamic banking industry through an intensive evaluation process according to a set of principles and financial indicators. IFN is a well renowned institution in the Islamic banking industry which publishes various studies and articles around the banking sector. It is affiliated to RED money, the foremost global provider of specialized Islamic financial media services across three core divisions of events, publishing and training. Established in 2004, the firm has offices in Dubai and Kuala Lumpur.