CEO at Kuwait Finance House "KFH", Chairman of "KFH – Turkey” Mohammad Al-Omar stressed the depth of relations between Kuwait and Turkey at the government and public levels in various areas; especially, the economic field in which "KFH - Turkey" represents an important and successful example at the level of bilateral cooperation. The bank that KFH owns 46% of it witnesses the participation of government institutions and bodies of from the two countries; it has achieved great successes over more than 20 years, which confirms the wide range of the joint cooperation between the private sectors of the two countries that enhances the relations and understanding.
Al-Omar added in his speech during the ceremony held by the Turkish community in Kuwait and was attended by the Turkish Minister of Education Nadi Acfa and the Turkish Ambassador in Kuwait Omar Denser ,in addition to a large number Turkish community and a group of Kuwaiti officials, that relations between Turkey and Kuwait will gain momentum and strength in the coming period after the visit of His Highness the Amir of Kuwait to Ankara, and the valuable bilateral talks held with His Excellency the Turkish President and the Prime Minister and resulted in the signing of several agreements of bilateral cooperation in many areas that will maintain and strengthen exchanges and economic cooperation which reflect the keenness of the leadership to boost the future relations.
Moreover, he expressed appreciation for the efforts exerted by the Turkish government to support economic activities, attract foreign investment, diversify sources of income and stabilize the legislative and regulatory framework for the work of the economic, which is reflected in the social and political situation and make Turkey one of the key players for attracting investments in the circumstances prevailed in the Middle East now.
Al-Omar added that KFH has a real success story in the history of expansions of the Kuwaiti private sector in the foreign markets, represented by “KFH-Turkey” that was established 24 years ago and supported by the two countries. The bank now is one of the largest Islamic banks in Turkey and surrounding countries and works to be among the top ten banks in Turkey.
Furthermore, Al-Omar mentioned that the bank grows up to 25% in profits, assets increase, deposits and revenues. In addition, the bank offered innovative products and services, such as Gold and Silver accounts, Sukuk to finance companies and retiring salary accounts and many others. KFH-Turkey also opened banks in Bahrain, Dubai and got a license to open an Islamic bank in Germany which serves Turkish community there that populate 5 million, and then expands to the rest of the European Union countries.
In addition, Al-Omar noted the inauguration of the 229th bank branch which was by the presence of his Excellency the Minister of Finance Mustafa Al-Shamali which confirms the two countries concern about KFH.
Al-Omar stressed that KFH works according to its legal way that aims at constructing and developing the economy, not to mention boosting and strengthening the relations with "KFH - Turkey" within the strategy of strengthening the bonds of cooperation and coordination of trade and economic relations between Turkey and Kuwait on the one hand, and between them and the GCC on the other.
He added: We have participated in the order of the first sovereign Sukuk to the Turkish government worth KD 1.5 billion to finance economic projects and to fund many Turkish companies , in addition to sponsoring visits by businessmen and investors from both countries in order to develop economic cooperation,
Al-Omar also said “we have noticed recently an increase of tourists from Kuwait and GCC to Turkey, which led Turkish Airlines to increase the number of daily flights from Kuwait and other countries to Ankara and Istanbul, and as noted recently that most of the international real estate that are displayed in real estate exhibitions in Kuwait, are Turkish and they are being sold to Kuwaitis and GCC people because of the stability of the political situation , economic growth and prosperity in Turkey, not to mention the adoption of the decree that allows Gulf people to own properties in Turkey.