Kuwait Finance House (KFH) has won three awards from Global Finance Magazine, which are Best Islamic Bank in the Gulf, Best Islamic Bank in Kuwait, and Best Real Estate Service Provider. Those awards reinforce KFH’s leadership and its ability to cement its market share locally and regionally through working in international markets in various countries.
The magazine mentioned that KFH is one of the largest Islamic banks in the world and started operating 33 years ago. It added that KFH offers numerous innovative products and services that underscored its status, and allowed it to operate on all levels, not to mention attracting several client segments. After KFH achieved a high local status, it began to expand globally, such as opening in Turkey, Bahrain, Saudi Arabia, and Malaysia, which reveals its interest in the GCC markets.
Assistant General Manager for Investment Sector at KFH Abdul Nasser Al-Subeih stated that such an award is another achievement that is added to KFH’s numerous awards and achievements given to KFH by several authorities around the world. He went on to say that KFH won the awards after the magazine closely monitored its steps and policies followed in the GCC, especially after KFH established banks in Bahrain and Saudi Arabia.
Moreover, Al-Subeih mentioned that KFH participated in financing major projects in the GCC, such as projects in the fields of power, communications, infrastructures, and others, such as power stations Al-Shuwaihat, Al-Taweela, and Om Al-Nar in the UAE, and Al-Had in Bahrain, which cost a total of USD 9 billion. He noted that in the field of communications, it played a major role in the second cell phone license in Saudi Arabia with a share of USD 200 million, while the whole deal cost USD 2.35 billion, not to mention the two largest real estate projects in the area, which are Durrat Al-Bahrain and Diyar Al-Muharraq.
Regarding the Best Real Estate Service Provider, Al-Subeih mentioned that KFH played a role in providing suitable homes for 30,000 Kuwaiti families with funds that reached KD 3 billion for over 33 years, which is considered to be a major step forward in solving the residential crisis.