Bader Abdul Mohsen Al-Mukhaizeem, Chairman and Managing Director of Kuwait Finance House (KFH), announced that KFH has realized total profit of KD 168.761 m for the first half of the current year, an increase of 36% over the same period of last year. "Shareholders' stake in the profit amounted to KD 74.999, an increase of 22%." He said. Assets amounted to KD 5.410 b, an increase of KD 1.495 b over the same period of last year. Deposits for the first half accounted for KD 3.583 b, an increase of KD 798 m, and by 29% over the said period. Profit per share for the first half amounted to 61 Fils, compared to 62 Fils for the same period of last year. Assuming adjustment of the profit per share for the first half of last year to reflect the effect of capital increase since early 2005, as well as the bonus shares issued during 2006, profit per share amounts to 50 Fils for the comparative period. In a press release, Al-Mukhaizeem said: "The financial indicators for the first half emphasize the successful approach of investing in quality assets of increasing value, together with careful and objective study of risk and their mitigation techniques, in addition to the flexibility in utilizing the opportunities and moving in the various markets with visions to maximize depositors and shareholders' profit." "Profit reflects the successful strategic and action plans set up by the management and implemented by all employees." He elaborated, stressing the importance of combined efforts to continue the successes achieved by KFH since its inception. Al-Mukhaizeem expressed his confidence that KFH's role on both local and international levels is growing as an Islamic financial institution that achieves substantial profit for its depositors and shareholders, thus making it a significant landmark in the development of Kuwaiti economy, as well as the Islamic finance in the regional and global markets. "This is emphasized by the keen desire of some governments to open doors of investment to KFH, while inviting it to establish banks there." He explained, indicating that such trend is evidenced in the confidence in its performance and its role in motivating the financial and investment activity of the markets, as well as the areas in which it operates. "Islamic financial institutions in Kuwait are now facing challenges, particularly in the shadow of the recent economic developments, entry of competitors, and the intensive demand for their products and services." He stated. "Meeting such demand with a global, advanced level of service, which now represents a significant criterion for dealing with any global bank, represents the major challenge." He concluded.