Strategy and Corporate Affairs General Manager at Kuwait Finance House (KFH) Fahad Al-Mukhaizeem said that KFH Group and its subsidiaries won the five most important awards granted by CPI Financial that issues several magazines, including The Banker Middle East. He added that KFH won Best Regional Corporate Bank, KFH-Malaysia won Best Investment Bank – Asia, KFH-Bahrain Best Real Estate Investment, ITS won Best Technology Provider, and KFH CEO Mohammed Al-Omar won Banker of the Year 2012, as part of a big celebration that has been held in Dubai lately.
Al-Mukhaizeem stressed that those awards that Al-Omar received part of them during the celebration, serve to cement KFH and its subsidiaries’ success in various fields; especially that the awards are considered to be an addition to numerous other awards that KFH had won in all business fields. He went on to say that the awards that are granted by one of the most prestigious authorities in the field of banking and financial institutions, serve as a catalyst for further success and development in light of the current fierce competition. He noted that during the past period, KFH managed to attract many companies that sought to take advantage of its services in light of the growing demand for Islamic banking instruments and services offered by KFH. He remarked that KFH managed to increase the demand of individuals, which allowed it to conquer new markets. This was reflected by the noticeable growth in financial services and the collaboration with other major companies in the private sector, which will eventually boost the economy. KFH offers a bouquet of services and products designed to meet the needs of companies.
Moreover, Al-Mukhaizeem mentioned that KFH-Malaysia that won Best Investment Bank in Asia, has approved a new strategy that targets the retail market and financing of individuals, in order to achieve high profits through expanding its network of branches by increasing the number of branches and offering advanced services that suit the location of the branches that are located at commercial centers, service locations, and other vital areas. In addition, KFH offered seven new products that play a role in cementing the market share and revenues, such as gold investment account, e-payments, money transfer, and multiple purpose financing.
Al-Mukhaizeem stated that as part of the bank’s geographic expansion policy, it seeks to reinforce its sales abilities and reach out to its clients to face competition and improve level of services. KFH is also keen to diversify its instruments and array of services to meet the demands of various segments in the market. He pointed out that KFH-Malaysia succeeded in being the first foreign bank to open a currency exchange office at Kuala Lempur airport, in addition to the Pavilion, and the main railway station. Regarding overseas deals, the bank managed to orchestrate a major Sukuk deal with Japan, which is considered to be the first of its kind, not to mention targeting the Chinese market through collaborating with other major banks and corporations.
Furthermore, KFH-Bahrain won best Real Estate Investment award after the outstanding performance of Boyout Al-Dar Company that is an investment subsidiary company that managed to execute one of the most gigantic residential project in the real estate history of Bahrain. The project includes developing 2500-3000 residential units, and offers various residential options as part of the Diyar Al-Muharraq project. KFH-Bahrain also executes major real estate investment projects, such as Durrat Al-Bahrain project that costs billions of US dollars; in addition to Al-Waha industrial project that is the largest in the region.
In addition, Al-Mukhaizeem noted that ITS Company that won Best Technology Provider, has been working in that field in Kuwait and the region for the past 30 years, and currently covers all the Middle East region and parts of Asia. He revealed that the pioneer company managed to provide banks with the software and systems they required, not to mention its success in the technology industry and in serving many Islamic banks worldwide.
It is worth noting that CPI Financial manages Islamic finance awards, and publishes a number of most important Islamic finance magazines in the world, such as The Banker Middle East. The readers of the magazine vote to select the winners out of a list of candidates that has been prepared by consultancy firms and a panel of rating agencies, in order to assess the performance of financial institutions for the past 12 months.