Global Finance Group awarded Kuwait Finance House (KFH) the best Islamic bank in the gulf award and the best Islamic bank award in Kuwait in appreciation of its success and expansion at the local and global levels in general and at the gulf level in particular, in addition to its ability match between risks and investment opportunities on one hand and business requirements and growth on the other hand. Also, it has achieved growth in assets growth, business diversification and fulfillment of customer's expectations in regard to innovative products and distinguished service signifies its leasing role in addition to its remarkable addition to the Islamic finance business.
Mr. Mohammed Suleiman Al-Omar - CEO –KFH, said upon receipt of the award from Mr. Joseph Ghutraboto – Publisher and president of Global Finance - at the ceremony organized by the group in light of the meetings of International Monetary Fund and International bank at Istanbul yesterday, that this award is considered as a significant addition to the multiple prizes and awards which KFH received recently. This award has special significance as it coincides with KFH exposure to the Gulf market following its success locally and globally. Also, the award signifies KFH commitments and adherence to global banking rules and standards. KFH has become symbol of Islamic finance industry in Kuwait and worldwide.
Mr. Al-Omar added that "the gulf dimension occupies a large space in our growth and expansion strategy. It is a promising market. We have full confidence of achieving success and growth in it as we did in the Kuwaiti market. We obtained an investment bank license in Saudi Arabia and we are executing major real estate development projects in the eastern area and other major cities in the kingdom. Since its inception 7 years ago KFH-Bahrain has achieved significant achievements in "Durrat Bahrain" and "Muharraq Homes" projects which are considered as major projects gulf wise. We are proud to announce that KFH has executed the first and most important experiment in the Islamic banking history after transferring a traditional bank (National Bank of Sharjah) into a full Islamic bank with great success. This successful experiment reiterates trust and confidence in the Kuwaiti private sector if given the opportunity and appropriate work environment as its positive additions and contributions will be multiple"
Mr. Al-Omar stated that KFH is working on strengthening its gulf commercial ties, building cooperation and communication bridges and channels with countries where it has banks i.e. Turkey, Malaysia, Singapore, Jordan and others, in the filed of real and developmental economy that would reinforce relations among countries and nations. He indicated that KFH participation in the finance of projects in the Gulf region during the last 10 years approximated more than KD 15 Billion including communications, infrastructure, energy, real estate development and corporate finance projects through the issuance of Sukuks or arrangement of major deals in vital fields i.e. health, education and transportation. Most of these projects carried new ideas and perceptions.
Mr. Al-Omar considered that KFH wining of the best gulf Islamic bank prize and the best Islamic bank in Kuwait prize at the same time signifies the coordination between actual work and set plans based on a single strategy that benefits from each successful positive step towards success where KFH could benefit fr