Minister of Finance Mostafa Al-Shamaly praised Kuwait Finance House (KFH), and considers it to be a leading Islamic bank that paved the way for development and growth of the Shariah compliant financial business operations in Kuwait and the world. He added that this is an important addition to the Kuwaiti private sector, and underscores Kuwait’s economic status, human resources, and a wise leadership that is able to achieve the highest level of success. The minister stated that KFH has been the school that graduates leaders, who play a prominent role in the prosperity and widespread of the Islamic financial industry around the globe.
Moreover, Al-Shamaly announced in a press release after the inauguration of a KFH branch in Yarmouk, that he eagerly follows the accomplishments of KFH, in addition to its regional and global expansion, and applauded KFH’s attempts to enter new markets to achieve best returns with minimum risks.
Regarding the impact of the global crisis on the local economy and the procedures taken by the government, Al-Shamaly asserted that any governmental solution will be based on rules, such as following policies that spur economic growth. He went on to explain that since this is a global crisis, then the collective efforts of all governments are required to overcome it.
The government is working relentlessly under the guidance of HH the Emir to overcome the crisis, and turn Kuwait into a prestigious financial centre point for the whole world, said Al-Shamaly.
Meanwhile, KFH’s CEO Mohammed Al-Omar asserted that the inauguration of the Yarmouk branch comes within KFH’s local expansion policy, which will allow the bank to offer best services to its clients wherever they are. He noted that KFH uses the highest banking technology available to offer more than 140 online services through kfh.com, which statistics show that there is an increasing demand for its services that are offered in 175 local and international branches.
Al-Omar went on to explain that KFH is eager to offer best services and products to its clients according to world standards, since its client base is growing. He added that KFH accepts suggestions from its clients and listens to their requests, which made The Banker put KFH on the top of its list for Arab banks, and place 132 out of 500 biggest financial brands in the world. This comes as a result of the tremendous efforts exerted by the employees, in addition to the unlimited trust that the clients and shareholders have in KFH. Such global recognition also reveals KFH’s investment policy, and the universal vision regarding the markets and their growth opportunities, which allows KFH to achieve highest profits with minimum risks. Al-Omar elaborated by saying that KFH’s strategy is balanced investment and seeking diversification of income sources, in addition to focusing on markets with high rates and various opportunities.
Al-Omar expressed his relief, since Al-Shamaly stated that any plan approved by the government and the concerned authorities will boost trust in the various ends in the local markets, and will guarantee economic growth. Al-Omar noted that the time factor is paramount since approving the plan will positively impact the affected sectors, and stressed KFH’s support to any plan approved by the government.
It is worth mentioning that Moody’s recent report indicated that KFH is holding its grounds in the face of the turmoil that struck the global markets, since KFH focuses on protec