Global Finance Magazine, which is specialized in banks and financial institutions, granted Kuwait Finance House (KFH) “World Best Islamic Bank” award for the year 2014. The award recognizes KFH’s significant contributions in the Islamic banking industry, in addition to the track record achievements of success and growth. It’s worth noting that the award coincides with the 36 anniversary of the banks inauguration that took place on August 31st 1978.
Over the past 3 decades and a half, KFH managed to make Islamic financial transactions everyday reality for millions of people in different societies, and demanded tools in the global markets. In addition, KFH managed, in a short period, to establish strong economic pillars, and contributed in laying the foundation stone of the legislative and organizational structure of sharia-compliant transactions and services, not to mention its role in providing qualified human capital that made the industry of Islamic financial services ad products a force to reckon with relying on innovation and commitment values which allowed KFH now to be the world reference in its field.
After the dream of establishing KFH has become true, KFH expanded its businesses and branches where it started on August 31st 1978 with only one branch that witnessed a huge clients’ turnout as 170 bank accounts were opened in the first day, and now the number of branches exceeds 275 ones around the world.
KFH was keen on prioritizing clients since inception which helped it to be the largest of Kuwaiti bank in terms of market share, and the first in the number of services. KFH extended to reach different economic sectors that contributed to wide expansions; hence to various achievements and success.
KFH is a market maker in the volume of its products and services in the investment, real state, financing, commercial and banking fields, especially that it enjoys a wide client base and comprehensive activities and businesses. KFH provided, in the field of real estate financing, the suitable real estate financing for around 35 thousand Kuwaiti families, moreover, it provides a bouquet of commercial services of cars, furniture, electrics and so forth , not to mention attracts around 7 thousand suppliers.
KFH expanded in different parts of the world as it opened “KFH-Turkey”, “KFH-Bahrain”,” KFH-Malaysia” and finally “KFH- Saudi”. KFH enjoys quality of its assets where it has reached KD 17 bln, which is equivalent to USD 60 bln. This allows KFH to continue its leading role in the Islamic financial industry.