The Islamic Finance Program (IFP) Manager at Harvard University Nazem Ali stated that Kuwait Finance House (KFH) achievements in numerous projects and its innovation in the Shariah compliant products and services that it offers are taught to the students and researchers taking part in the IFP at the University. Such products and services reveal KFH’s leading status in the establishment of Islamic banking and its expansion in most international markets. He went on to say after meeting several Legal Department employees at KFH, that the diversification in KFH’s operation fields is an important source of studies in the forum that is associated with the IFP that the university has been organizing for the past nine years. He went on to say that he became familiar with some products and services that KFH had managed to tailor to suit Islamic requirements, which prompted other banks to imitate and apply KFH’s experience in many projects around the world. He lauded the KFH’s interest in Islamic financing at Harvard University, which is evident by KFH’s keenness to take part in its events, especially forums that it organizes. He stressed that such keenness reflects KFH’s belief in the importance of scientific researches in boosting Islamic banking.
Meanwhile, the Legal Consultant at KFH’s Legal Department Salma Hammad said that her participation in the event granted her the opportunity to discuss the issues of Islamic finance with people from many countries who are interested in that field, especially that the event included senior officials from various financial institutions around the world. She revealed that KFH senior officials have taken part in many training programs during the past five years
She further elaborated by saying that KFH was the first bank to setup an investment fund called Emar and Al-Kawthar that offers monthly profits, which catered to clients that require fast returns and the ability to liquefy their investments. In addition to that, KFH’s participation in Equate Project allowed Islamic finance to compete against traditional banking in financing major projects, which caused a paradigm shift and innovation. It is worth noting that KFH has also invested in cultural and development fields, such as communications, infrastructure, power projects, sukuk, establishing of new funds and investment portfolios, in addition to reinforcing Ijarah in strategic commodities that include aircrafts.