KFH EESG statement: KFH Kuwait commits to delivering the highest quality of inclusive banking products and service excellence, generating and promoting positive impacts and returns to all stakeholders, while preventing and mitigating negative implications. It commits to address and protect its stakeholders’ evolving needs and wellbeing, preserve natural resources consumption in services, products, and operations. It governs according to Islamic Principles in achieving financial growth, developing banking services, addressing risks and opportunities, & conducting stakeholders’ relations.
Our Sustainability Strategy covers over 62 economic, environmental, social, and governance objectives, with the following strategic goals:
- Economic Dimension: Global Islamic Financial Leadership.
- Social Dimension: Positive Impact to all stakeholders.
- Environmental Dimension: Green Products and Operations.
- Governance Dimension: Sharia compliant Governance Structure.
The Strategy objectives are mapped at the implementation level to address and advance the required practices through financials, customers, internal process and people & organizational capacities.
KFH’s Stakeholders Engagement
Aligning with Islamic Principles, our corporate culture is based on true value creation, thus our constant and diligent proximity to our stakeholders is a default responsibility to address their changing needs in light of market changes. In line with this notion, engagement is part of our systematic business process through a set of internal procedures through communication channels and with different frequencies and that correspond to the required level of our relationship with each stakeholder.
KFH conducts a specific exercise to ensure a better internal alignment of all functions on the Sustainability expectations and ESG considerations that became an integral part of our practices:
• A dedicated Sustainability Taskforce was formulated to oversee the development of the sustainability report, including the identification of external stakeholders across all bank’s functions.
• Acquiring third part expertise to support the taskforce team in conducting Internal induction on Sustainability for a selective group of focal points within the bank, to ensure understanding and alignment on ESG emerging issues in the sector.
• Taskforce team run extensive in-person interactions and focus group discussions.
• A full-fledged review was completed on all updates of our financial services ecosystem and our social and environmental commitments, in light of national priorities, regional directions and global practices).