The Fatwa and Shariah Supervisory Authority at Kuwait Finance House (KFH) mourned Islamic economy icon Ahmed Al-Yasseen, who was one of KFH’s founders and head of the authority for many years. During those years, he developed Islamic banking and taught many generations in the field of fatwa.
The authority expressed its confidence that other employees in the authority will be able to continue the mission and achieve the goals Al-Yasseen was pursuing, such as following Shariah in all services and products; thus making Kuwait an important center for Islamic banking in the region and the world.
Ojail Al-Nashmi said that Al-Yasseen initiated Islamic banking in Kuwait through founding KFH, which prompted other companies and banks around the world to follow in KFH’s footsteps. He stressed that Al-Yasseen had always opposed usury and its negative consequences on the economy.
Meanwhile, Mohammed Al-Tabtabaie stated that Al-Yasseen was a renovator in Islamic banking and served as its main pillar. He described him as being a man of vision, since he warned against crises that the world is currently witnessing as a result of long-term investments through short-term finances; thus resulting in liquidity deficit. He went on to say that Al-Yasseen was a role model for many people, and that he combined the theoretical and practical fields of Islamic banking.