Kuwait Finance House's (KFH) CEO Mohammed Al-Omar discussed with Malaysian Prime Minister Y.A.B. Dato’ Seri Mohd Najib Tun Abdul Razak the details of the offer that KFH received from one of the most prestigious international universities to establish a university in Malaysia that can serve students from all countries and specialties. The university will be established as part of the gigantic Medini Iskandar project that KFH-Malaysia had invested USD 329 million in it, and those investments will increase to reach USD 6 billion in 15 years. Medini Iskandar, which is considered to be one of the major real estate development projects in Asia and the Pacific region, connects major Asian cities and prosperous economies that are found in India and China due to its prime location. Al-Omar highlighted KFH's commitment to playa major role in real estate development in that area based on huge economic projects that offer a qualitative boost, and developing the educational system by establishing academic institutions that provide the labor market with qualified employees.
Al-Omar added in a press statement that the meeting with the Malaysian prime minister was positive, where they discussed boosting investments in Malaysia and other fields of cooperation, in addition to the continuity of the supportive role of the Malaysian government to KFH, especially that the Malaysian government had requested that KFH established the first foreign Islamic bank on its lands in 2005. He noted that KFH is grateful for this trust that pushes the bank to offer better services; particularly that KFH has expansion plans in Malaysia by turning it into a platform reach all of Asia. He mentioned that KFH has already begun executing this strategy by opening a bank in Singapore, an office in Australia, and is currently planning to open centers in Indonesia, China, India and Hong Kong. Al-Omar went on to say that KFH is closely anticipating the new economic role model that the Malaysian prime minister will reveal, and also discussed the major developmental plan prepared by Kuwait to execute His Highness the Amir's will by turning Kuwait into a prestigious financial center. He went on to explain that KFH is eager to offer Islamic banking services and qualitative investments in the Malaysian market and all the markets it operates in, since KFH plans to make Malaysia the center for further expansion in Asia and the Pacific region on the one hand, and to make Malaysia connect between Asia, the GCC and the Middle East on the other.
It is worth noting that Al-Omar had visited Medini Iskandar project and stressed the KFH Group supports KFH-Malaysia's projects, and is preparing to execute new projects in Malaysia that has promising potential and opportunities that are being considered.
KFH's delegation also met the Deputy Prime Minister and Minister of Education Mohy Al-Deen Yasseen to discuss plans to increase investments in education and research th delegation was accompanied by the Kuwaiti Ambassador in Malaysia Monzer Al-Eissa, KFH-Malaysia's Chairman Shaheen Al-Ghanem, board member Abdul Wahab Al-Roshoud, and KFH-Malaysia's CEO Jamila Jamal Al-Deen.
Shaheen Al-Ghanem stated that KFH-Malaysia is ready to benefor from the economic recovery and will focus on improving its risk management abilities and investment strategies, in addition to the fact that the bank's USD 650 million capital makes it the largest Islamic bank in Malaysia in capital, and strengthens its opportunities to expand its portfolio. He expressed his confidence that the bank will increase its market share and investments in Malaysia and the neighboring countries according to the set strategies; particularly that many economies are showing signs of recovery.