KUWAIT: KuwaitFinance House(KFH) has won World's Best Islamic Financial Institution 2019award from Global Finance Magazine. Being one of the safest leading financialinstitution in the region, KFH has also won Best Islamic Financial Institution2019 award in the Middle East, and the Safest Islamic Financial Institution inthe GCC 2019.
In addition, KFH-Turkey has been named as World's Best Islamic Financial Institution 2019 inTurkey and KT Bank AG-Germany as World's Best Islamic Financial Institution2019 in Europe by Global Finance. Backed by the sustainable growth, diversifiedservices and activities, customer's confidence, reliability, credibility and strong brand, the awards reflect the leadingrole of KFH in the Islamic finance industry and its sound performance.
All selectionswere made by the highly professional team of Global Finance, after extensiveconsultations with bankers, corporate finance executives and analysts throughoutthe world. The stringent criteria of giving the awards included geographicreach, strategic relationships, new business development and productinnovation. Also, among the criteria considered were reputation, customersatisfaction and the adherence to ethical standards.
On the sidelinesof the IMF and World Bank meetings held in Washington, DC, the awards werereceived by the Group Chief Executive Officer at KFH, Mazin Al-Nahedh.Al-Nahedh said that:" The awards confirm KFH's ability to continue itssuccess in the coming years, locally, regionally, and globally. KFH aspires totake Islamic banking to an advanced stage, enabling it to participate in newprojects and plans, thereby enhancing its capital capabilities and add value tothe markets in which it operates."
"Being firstIslamic bank in Kuwait, KFH continues to keep pace with the development ofdigital banking, adopting the concept of safety and thoughtful growth, whileadhering to the highest professional standards, best risk management standardsand prudent practices, making it the largest Islamic bank in the world. KFH hasdeveloped a variety of financial products, alternatives and financingsolutions, enhancing the Islamic banking industry and consolidating KFH'sglobal role," he added.
"In linewith international standards and sharia principles, KFH has achievedqualitative success, based on a new strategy that includes strengthening thedigital transformation, focusing on core business, developing employees,promoting service quality and improving performance levels," Al-Nahedhexplained. Al-Nahed confirmed that the awards won by Group subsidiariesindicate their potential and consistent performance according to establishedrules and regulations. This reflects efforts started years ago to standardizework systems and enhance transparency and cooperation among the Groupsubsidiaries.
" KFH is always keen on the adoption ofmethodological and professional methods in the study and evaluation of risks,paying great attention to qualitative achievement in line with theinternational reputation it enjoys. The creditworthiness and ability of KFH todeal professionally with various economic conditions reflect its potential tomaintain what it has achieved in terms of operating income and net profit. Thesize of its assets also confirms the growing confidence in KFH and itscontinuous methodology of selecting high quality assets," Al-Nahedhsaid.
The awards werealso based on criteria such as long-term credit ratings, the total assets ofthe world's top 500 banks, and the growth of the financing portfolio. It isworth mentioning that Global Finance, founded in 1987, has readers in more than 192 countries. GlobalFinance also targets the 8,000 international portfolio investors responsiblefor more than 80 percent of all global assets under professional management.The magazine is an international reference in the financial sector, coveringtopics of corporate finance, joint ventures, capital markets, currencies, banksand risk management.