The first Islamic bank in the world to receive GRI certification
"E&Y" grants "KFH" CSR Assurance Certificate
Kuwait City, June 26th: Kuwait Finance House (KFH), the world’s leading Islamic bank, has been granted an Independent Assurance Certificate of its Corporate Sustainability Report from Ernst and Young (E&Y). This certification, which confirms KFH’s sustainability performance at all levels, came after meeting or exceeding all requirements of the certification criteria.
Nadeem Shafi, the partner of (E&Y), handed the certificate to KFH’s CEO Muhammad Sulaiman Al-Omar in the presence of a number of officials.
Strategy and Corporate Affairs General Manager at KFH Fahad Al-Mukhaizeem elucidated that the bank is considered to be the first Islamic bank in the world to achieve this certification from E&Y, which is in line with the sustainability performance data as per GRI’s (Global Reporting Initiative) guidelines. The bank has been certified according to data and information related to the bank’s sustainability performance, internal protocols, processes and controls related to the collection and collation of the sustainability performance data, sustainability-specific data and information related to the workforce.
In addition, he noted that environmental data, achievements and awards as well as training and community development initiatives, were also taken into consideration when evaluating the bank’s sustainability performance. Moreover, E&Y sustainability assurance team visited the company’s corporate office to gain confidence in the data and selected claims presented in the report.
Al-Mukhaizeem said that the CSR Assurance Certificate came as a result of the exerted efforts and teamwork aimed at achieving highest levels of innovation and technological advancement. These efforts also highlight the bank’s commitment to sustainable profitability and the continuous training and development of employees, which also reflects on the overall productivity, increased market share and expanded clients’ base.
He mentioned that KFH organized an integrated training program about sustainability in which it covers topics of the environment, water usage, community contributions, financial stability, energy usage, access to financial services, and Sharia policies and compliance. The aim of this program is to build a sustainable future by delivering Sharia-compliant products and services which stimulate positive economic outcomes to stakeholders. KFH focuses on providing best banking services and products, in addition to offering innovations that can cater to clients’ needs and can be harnessed to serve all banks sectors.
It is worth noting that KFH is always at the forefront of its peers in terms of its commitment to social responsibility and serving all community segments; students, intellectuals and athletes, who promote sustainability.
Photo: Al-Omar receiving certificate in presence of officials
Kuwait Finance House (KFH)
KFH was established in Kuwait in 1977 and is enlisted in the Kuwait Stock Exchange. KFH Group is a global pioneer in the field of Islamic banking services, where it offers a wide array of Islamic products and services, not to mention a high standard of innovation and client service.
KFH manages its operations in the GCC, Asia, and Europe through over 310 branches, including KFH-Turkey, in order to offer services for the bank's clients in Turkey, Malaysia, Saudi Arabia, Bahrain, Australia, Jordan, Dubai, and Manheim in Germany.
KFH's mission is to achieve highest levels of excellence and innovation in the field of client service, while developing common interest for all those concerned with the financial institution. KFH's vision is to spearhead the global development in Islamic financial services, and to upgrade the bank into the level of becoming the most sustainable profitable Islamic bank in the world.
KFH's values include cementing leadership through all its businesses, including leadership in the Islamic banking services worldwide, through innovation and in client service and the development of its employees. In addition, KFH is committed to all its procedures, and to setting up long-life partnerships with the concerned authorities.
For more information, please visit: www.kfh.com