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In the news..
KFH Concludes its Participation in the IMF and WBG Annual Meetings in Washington, D.C.
Kuwait Finance House (KFH) concluded its participation in the 2025 Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group in Washington, D.C. KFH delegation was headed by the Group Chairman, Hamad Abdulmohsen Al-Marzouq and included Group Chief Executive Officer, Khaled Yousef AlShamlan, alongside other KFH Group senior executives. High level meetings During the IMF and WBG meetings, KFH delegation participated in a series of meetings that brought together finance ministers, central bank governors, prominent bankers, investors, and financial policymakers from around the world. The discussions focused on ways to strengthen growth prospects, while highlighting key issues related to economic development and the advancement of the financial and banking sectors. KFH delegation also explored opportunities for cooperation and partnership with leading international financial institutions and showcased the role and achievements of the Islamic banking industry. The delegation also presented the Group’s success as a model capable of supporting financial stability and driving sustainable development. Panel discussion at George Washington University KFH Chairman, Hamad Abdulmohsen Al-Marzouq, presented a comprehensive outlook on the resilience and strategic direction of Kuwait's banking sector, positioning it as a pivotal platform for national economic transformation. Speaking at the panel "Financial Infrastructure as a Platform" during the "Kuwait – The Beacon of a New Era: Foundations for Economic Transformation" event, Al-Marzouq detailed how the sector is converting its stability into a competitive advantage and a foundation for global growth. The panel was attended by Kuwait’s Minister of Electricity, Water and Renewable Energy and Minister of Finance and Acting Minister of State for Economic Affairs and Investment , Dr. Subaih Abdul Aziz Al-Mukhaizeem, as well as Ambassador of the State of Kuwait to the United States of America, Sheikha Al-Zain Al-Sabah, along with a number of senior leaders and officials from Kuwait’s banking sector. Kuwait Banking Association Reception KFH Delegation also took part in the Kuwaiti banks reception organized by the Kuwait Banking Association (KBA). Held under the patronage of Governor of the Central Bank of Kuwait, Basel Al-Haroon, the event was attended by Kuwait’s Minister of Electricity, Water and Renewable Energy and Minister of Finance and Acting Minister of State for Economic Affairs and Investment, Dr. Subaih Al-Mukhaizeem, Secretary-General of the Gulf Cooperation Council, Jasem AlBudaiwi, as well as central bank governors from Arab countries, Chairman of KBA and Chairman of KFH Group, Hamad Al-Marzouq, chairmen of Kuwaiti banks, senior leaders from the financial and banking sectors, and a number of prominent global economic figures. The reception is one of the most prominent economic events that brings together government officials, decision-makers, and heads of financial and investment institutions to exchange insights and discuss economic and financial developments and challenges. Embassy Reception KFH delegation attended the dinner hosted by the Embassy of the State of Kuwait in the United States, in the presence of Ambassador of the State of Kuwait to the United States of America, Sheikha Al-Zain Al-Sabah, along with a number of government officials and leaders from Kuwait’s banking sector. The delegation also participated in the reception hosted by the Embassy of the Kingdom of Saudi Arabia in the United States, as well as the event organized by the Embassy of the State of Qatar. Global Finance awards At a special ceremony held alongside the IMF and WBG meetings, KFH Group has been recognized with 9 prestigious awards in the 18th Global Finance annual awards for the Best Islamic Financial Institutions in 2025. The awards acknowledge the Group’s leadership in the Islamic finance industry, its success in implementing a sustainable growth strategy, and the strengthening of its global position. The awards are: • World’s Best Islamic Bank • World’s Best Islamic Retail Bank • World’s Best Islamic SME Bank • World’s Best Takaful Provider • World’s Best Islamic Project Finance Provider • Best Islamic Bank in the Middle East • Best Islamic Bank in Turkiye (Kuveyt Turk) • Best Islamic Bank in Kingdom of Bahrain (KFH Bahrain) • Best Bank in Kingdom of Bahrain (KFH Bahrain) KFH Delegation KFH delegation included: Group Chairman, Hamad Abdulmohsen Al-Marzouq, Group Chief Executive Officer, Khaled Yousef AlShamlan, CEO of KFH-Bahrain, Dr. Shadi Zahran, CEO of KFH-Turkey, Ufuk Uyan, CEO of KFH Capital, Abdulaziz Al-Marzouq, Deputy Group CEO of Treasury and Financial Institutions, David O'Loan, Chief Treasury Officer Kuwait, Ahmad Al-Sumait, Group Chief International Banking Officer, Abdullah Al Haddad, and Head of Public Relations and Media, Yousef Abdullah Al-Ruwaieh. IMF and WBG meetings The 2025 IMF and World Bank Group meetings addressed economic growth prospects, means for public debt management, and financial sustainability, as well as topics related to sustainable finance, climate change mitigation, and digital transformation. The IMF and World Bank Group Annual Meetings are among the most significant global economic forums, providing a platform for dialogue on pressing financial and economic challenges and strategies to address them.
KFH: World’s Best Islamic Bank for 2025
Kuwait Finance House (KFH) Group has been recognized with 9 prestigious awards in the 18th Global Finance annual awards for the Best Islamic Financial Institutions in 2025. The awards acknowledge the Group’s leadership in the Islamic finance industry, its success in implementing a sustainable growth strategy, and the strengthening of its global position. The awards are: • World’s Best Islamic Bank • World’s Best Islamic Retail Bank • World’s Best Islamic SME Bank • World’s Best Takaful Provider • World’s Best Islamic Project Finance Provider • Best Islamic Bank in the Middle East • Best Islamic Bank in Turkiye (Kuveyt Turk) • Best Islamic Bank in Kingdom of Bahrain (KFH Bahrain) • Best Bank in Kingdom of Bahrain (KFH Bahrain) The awards were presented at a special ceremony held alongside the International Monetary Fund (IMF) and World Bank Group (WBG) meetings in Washington D.C., USA. The event was attended by KFH Group Chief Executive Officer, Khaled Yousef AlShamlan, and a delegation of senior executives, including the CEO of KFH-Bahrain, Shadi Zahran, CEO of KFH-Turkey, Ufuk Uyan, KFH Group Chief International Banking Officer, Abdullah Al-Haddad, the CEO of KFH Capital, Abdulaziz Almarzooq, and the Head of Public Relations and Media at KFH Group, Yousef Abdullah Al-Ruwaieh. KFH Group CEO, Khaled Yousef AlShamlan, said upon receiving the awards that their acquisition reflects KFH’s distinctive position and the success of its strategy in driving sustainable growth and establishing its global presence as a leading Islamic banking group. He added: “These awards represent a new achievement for KFH, validating the Bank's unwavering commitment to providing customers with innovative banking solutions that meet the highest international standards in Islamic finance. The awards also reflect the confidence of our customers and partners, which serves as a motivation to further develop our business and enhance the Bank’s standing both locally and globally." AlShamlan pointed out that the World’s Best Islamic Bank award underscores the Group’s successful strategy in building a giant banking entity that tops all listed banks and companies on Boursa Kuwait in terms of market capitalization, supported by strong financial solvency and competitive performance. “With a significant international footprint spanning 10 countries and over 600 branches, KFH is steadily advancing its strategic ambition to be counted among the world’s top 100 banks”, he added. Speaking about the World’s Best Islamic Retail Bank award, AlShamlan explained that this recognition highlights KFH’s excellence in delivering innovative, customer centric banking solutions that enhance their experience and reaffirm the Bank’s commitment to meeting its clientele needs with the highest levels of convenience and security. He further noted: “As KFH advances in adopting technology and digital transformation, it remains committed to investing in its digital infrastructure and providing smart banking solutions in line with global developments. These efforts enhance the Bank’s resilience to the evolving market changes and customer needs.” As for the World’s Best Islamic SME Bank award, AlShamlan noted that KFH holds the leading position in the SME sector. “KFH is a strategic partner in the growth of this segment. The Bank has financed numerous successful businesses, recognizing the sector’s vital role in generating employment opportunities and promoting national economic development” said AlShamlan. Talking about the World’s Best Takaful Provider award, AlShamlan mentioned that KFH was the first in Kuwait to establish a Takaful insurance company, expanding coverage options for individuals and businesses. The Bank also reinforced its leadership by signing the first-of-its-kind Global Takaful Alliance agreement with the United Nations Development Programme (UNDP). He went on to say that the World’s Best Islamic Project Finance Provider award reflects how KFH places great importance to major projects emphasizing their role in economic development. He said that KFH contributed to financing strategic sectors across Kuwait and the region including petrochemicals, oil and gas, power and water, renewable energy, infrastructure, services and many more. AlShamlan further emphasized that winning the Best Islamic Bank in Turkey, Best Islamic Bank in the Kingdom of Bahrain and Best Bank in the Kingdom of Bahrain awards, reflet the Group’s synergy and its outstanding performance in the markets where it operates, guided by a unified flexible strategy tailored to the nature of each market. Awards criteria It is worth noting that Global Finance magazine grants its awards to financial institutions that lead the expansion of the Islamic finance industry through innovative and Sharia-compliant financial solutions. KFH was selected following a meticulous assessment by the magazine’s editorial, in consultation with bankers and analysts worldwide. The criteria for selecting top firms include growth in assets, profitability, geographic reach, strategic relationships, new business development and innovation in products and digital solutions, in addition to reputation and customer satisfaction. Global Finance Founded in 1987, Global Finance is one of the well-established specialized publications in finance and economics, with a readership exceeding 50,000 ranging from senior executives to decision makers at financial institutions across 193 countries around the world.
Al-Marzouq: Kuwaiti Banks Set to Finance Mega-Projects Across Housing, Power, and Infrastructure
Chairman of the Kuwait Banking Association (KBA) and Chairman of Kuwait Finance House (KFH), Hamad Abdulmohsen Al-Marzouq, presented a comprehensive outlook on the resilience and strategic direction of Kuwait's banking sector, positioning it as a pivotal platform for national economic transformation. Speaking at the panel "Financial Infrastructure as a Platform" during the "Kuwait – The Beacon of a New Era: Foundations for Economic Transformation" event, held in parallel with the IMF–World Bank Annual Meetings, Al-Marzouq detailed how the sector is converting its stability into a competitive advantage and a foundation for global growth. The panel was attended by Kuwait’s Minister of Electricity, Water and Renewable Energy and Minister of Finance and Acting Minister of State for Economic Affairs and Investment , Dr. Subaih Abdul Aziz Al-Mukhaizeem, as well as Ambassador of the State of Kuwait to the United States of America, Sheikha Al-Zain Al-Sabah, along with a number of senior leaders and officials from Kuwait’s banking sector. Banking Sector Strength: A Strategic Asset Attracting Investment When asked how the financial system's strength can attract long-term international partners and investment, Al-Marzouq affirmed the sector's exceptional health. "Kuwait’s banking sector is indeed well capitalized, backed by prudent regulatory oversight and a capital adequacy ratio nearing 20%, well above the regulatory minimum of 13%. It has consistently demonstrated resilience especially in the aftermath of global economic crises," he stated. He provided up-to-date figures from the Central Bank of Kuwait H1 2025 report: "Asset quality remains strong, with a gross non-performing loan ratio of just 1.6% and an NPL coverage ratio of 242.1%, probably considered the highest in the region and globally. Liquidity as measured by LCR or liquidity coverage ratio is solid at well above 150%, and profitability is good with local banks achieving ROE of around 12% reflecting operational efficiency and robust returns." He concluded, "This strength is more than a safeguard — it’s a strategic asset. Kuwaiti Banks have been leveraging these strengths through forming strategic partnerships and ventures with international asset managers, positioning Kuwait as a secure and credible financial hub in the GCC and MENA markets." Furthermore, he noted that this financial robustness is utilized through syndicated lending and structured finance. "Mega projects that were financed or will be financed by Kuwaiti banks include power stations, Mubarak Port, and mortgage lending, which is expected to be approved soon under new legislation.” Kuwait's Vision for Ethical and Islamic Finance Addressing the growing relevance of ethical and Islamic finance, Al-Marzouq highlighted Kuwait's historical credentials and future ambitions. "The Islamic finance industry today is valued at around US$ 5–6 trillion. Kuwait, one of the pioneer countries in Islamic banking with the first license granted in 1977, has the credibility to shape its next phase. One of the main ambitions of Islamic banking is to fully cater to the financial needs of the Muslim population of 2 billion making a quarter of the world population," he explained. To ensure international relevance, he stressed the drive for digital transformation and standardized practices. "KFH among many Islamic banks has been at the forefront of setting harmonized Shariah standards that facilitates cross-border flows and build investors’ confidence just as we, at Kuwait Finance House, have done in UK, Germany, and Egypt. We have been integrating ESG principles within Islamic instruments introduced such as green sukuk and sustainable energy financing. We have also been focusing on nurturing fintech sandboxes that export Kuwait-certified solutions. These innovations ensure Kuwait remains internationally relevant, while appealing to diverse markets seeking ethical, inclusive, and Sharia compliant financial system." Safeguarding Trust and Balancing Regulation in the Digital Shift Discussing the acceleration of digital banking, Al-Marzouq focused on the critical role of trust. "This question is twofold: the first relates to trust, which is considered the most valuable currency in banking, and every digital initiative must reinforce it through diligent security to ensure safety against cyber-attacks to the best degree possible," he stated. He also cited the domestic rollout of instant payments: "Kuwait’s rollout of instant payments system (WAMD), which requires only entering the beneficiaries’ phone number demonstrates the commitment to adopt the latest payments technologies by the banking sector. WAMD has processed over a million transactions in its first year and has been well received by customers reflecting confidence in digital rails." To mitigate the sophisticated risks from hackers, he noted two measures: " The first involves fraud awareness campaigns by the Central Bank and the local banks, while the second is fraud-reporting war room established by the concerned authorities to receive reports and immediate action." On the balance between regulation and agility, he highlighted the collaborative approach in Kuwait. "Although it is not a secret that banks around the world always complain about regulations, the situation in Kuwait is probably better than other countries because of the continuous dialogue between the banks and the Central bank as well as other regulatory authorities. This has led to a balanced regulations that take into account public interest while not impeding banks agility and innovation." Lessons from Advanced Markets and Capital Mobility On adopting lessons from advanced markets without stifling local adaptability, Al-Marzouq noted that policies must be shaped by a country's size, the maturity of its financial institutions, and national objectives. "Among the main lessons is how volatile liquidity can shift from one market to the other as global markets witness substantial increase in hot money. The 2008 crisis exposed the vulnerability of depending on unstable capital flow," he remarked, citing the US government's emergency measures during that period. "Other areas of interest where we can benefit are the advances achieved in compliance, risk management, and the deployment of AI and robots in achieving fast and efficient products and services provided to our clients." Linking Financial Infrastructure to Economic Transformation Al-Marzouq clearly defined the economic transformation Kuwait is seeking: "We need to transform the economy from being largely dependent on oil into a more diversified economy that can basically achieve two objectives: 1. Ability to generate foreign currency from other sources than oil and 2. The ability to generate jobs. This transformation has to be done jointly between the public and private sector." He confirmed that expanding the private sector's role is a priority under Kuwait’s Vision 2035. To facilitate this, "financial institutions and private sector players in general are continuously upgrading their technology infrastructure to be able to adapt and facilitate the inflow of capital." He offered a specific example of contribution: "Let me give you a specific example: at KFH we have been investing in our business-to-business systems and protocols that have made us now better positioned to integrate clearing and settlements with global exchanges, making Kuwaiti sukuk and other instruments seamlessly tradable abroad." He stated this work contributes to positioning Kuwait as a regional liquidity and risk management hub, supported by new digital rails for cross-border payments and blockchain-enabled trade finance, anchoring Kuwait at the center of capital mobility. Evolving Beyond Traditional Banking: A Platform for Growth Finally, Al-Marzouq outlined the sector's evolution into a platform supporting entrepreneurship, financial inclusion, and cross-border innovation. "The Kuwaiti banking sector is evolving beyond classic intermediation into a true platform for growth and inclusion. Our banks are creating venture financing ecosystems that support entrepreneurship, embedding financial inclusion by extending mobile-first solutions to different social segments including for example migrant workers," he said. Crucially, the sector is "adapting open banking through Application Programming Interfaces (APIs), a key component of Open Banking and Banking-as-a-Service (BaaS), which significantly promotes entrepreneurship. The objective is to promote Kuwait as a testbed for regional fintech interoperability." He concluded, "This way, our financial system becomes more than a banking channel — it becomes a convergence point for innovation, inclusion, and cross-border collaboration, enabling Kuwait to serve as both connector and catalyst for economic transformation." Al-Marzouq concluded with a clear mandate for the future: "Kuwait’s banking sector stands at a unique juncture. Our resilience is proven, but our mandate now is to transform that stability into global investments and global technology. By fusing our heritage in Islamic finance with innovations in digital banking, and by deepening our linkages with international markets, we can ensure Kuwait is not merely adapting to the global financial future but is determined to be part of shaping it.”
Forbes Names KFH Group CEO Khaled AlShamlan among Middle East Sustainability Leaders
KFH Group Chief Executive Officer, Khaled Yousef AlShamlan, has been recognized on Forbes Middle East magazine's "The Middle East's Sustainability Leaders 2025” list. KFH Head of Group Compliance and Governance, Meshal Alshayee, accepted the recognition on behalf of AlShamlan at an award ceremony on the sideline of the 2025 Forbes Sustainability Leaders Summit in Abu Dhabi. The ceremony gathered leaders from the sustainability, technology, and financing sectors committed to enhancing green practices and sustainability. Forbes recognizes executives who drive sustainability and impact in the region’s largest companies across 15 industries, including banking, energy and utilities, food and agriculture, investment and holding companies, renewable energy, and others. KFH Group CEO, Khaled Yousef AlShamlan was ranked as the top CEO in Kuwait and the fifth in the Middle East`s banking sector. Forbes said that KFH invested $934.45 million in sustainable Sukuk in 2024. The bank also reported that 51% of issued credit cards were made from recycled plastic. The magazine added that KFH expanded to 11 KFH Go branches, installed LED lighting, and replaced traditional lighting across its head office and branches as part of its efforts to increase energy efficiency. KFH Auto ecofriendly Showroom received the Global Sustainability Assessment System GSAS – Gold Level Certificate, first-of-its-kind in Kuwait. The Most Sustainable Projects in the Middle East Award Moreover, KFH won the Most Sustainable Projects in the Middle East award for 2025 from Forbes Middle East magazine. This recognition is for the bank's sustainability initiatives, which included investing $934.45 million in sustainability and green Sukuk in 2024. The award was received by Head of Group Compliance and Governance, Meshal Alshayee who expressed his pride in the achievement. This recognition highlights KFH's significant contribution to sustainability, specifically through its successful investments in green and sustainability Sukuk. KFH was also recognized for its strong commitment to environmental sustainability and its integration of sustainable practices into all operations. This distinction is based on the bank’s proactive adoption of Environmental, Social, and Corporate Governance (ESG) principles, which serve as a core element of its corporate strategy and align with the Kuwait 2035 vision for Sustainable Development Goals (SDGs). While receiving the award, Alshayee highlighted KFH’s sustainability endeavors, indicating that the Bank achieved MSCI ESG “A” rating by Morgan Stanely. KFH was also included in the FTSE4Good for its exceptional performance in the ESG practices and commitment to sustainable finance. Additionally, KFH Auto Showroom won the GSAS Gold Level Sustainability Assessment Certificate, the first environmentally friendly building that fully complies with sustainability standards. Alshayee also underscored KFH’s efforts in sustainability, such as signing a Memorandum of Understanding with the United Nations Development Programme (UNDP) and an agreement on the Women’s Empowerment Principles (WEPs). KFH organized the first-ever Sustainable Business Program for SMEs, which is designed to give these businesses a competitive advantage and help them achieve their goals. This initiative underscores KFH's vision to promote sustainable development and its leadership in stimulating the entrepreneurial environment. He emphasized the continuation of the "Keep It Green" initiative, emphasizing its role in enhancing environmental protection and reducing carbon emissions for a more sustainable future. He further noted that KFH is the first institution to issue impact measurement reports. KFH is also the first bank to release annual Sustainability Report as well as Carbon Footprint Report, which include valuable insights, and detailed plans that outline the efforts to reduce carbon emissions. The report also sheds light on minimizing the negative environmental impact of activities that are not aligned with environment protection efforts in the coming years, in accordance with global initiatives for combating climate change. It is worth noting that Forbes Middle East selected KFH for this award in recognition of its 2024 success in allocating sustainable investments to green and sustainability Sukuk, with a total value of $934.45 million. Forbes Middle East’s methodology considers several criteria, including sustainability and ESG reporting, green and sustainable finance initiatives, and performance indicators such as changes in greenhouse gas emissions, reliance on renewable energy, and the adoption of energy-efficient technologies. The magazine also tracks the progress made in these areas. Forbes Middle East also reviews questionnaires as well as sustainability and ESG reports. This process is further refined by classifying each sector separately.
